Itera Asa · OSL:ITERA
Itera Asa — Q1 2022 Earnings Presentation
33 slides from Itera Asa's earnings presentation, 2022
Slide 1: Q1 2022 Make a difference
Slide 2: Q1 Report 2022 agenda
Q1 REPORT 2022 1. Highlights of the Quarter 2. Business Review 3. Financial Review Arne Mjøs Bent Hammer 4. Outlook CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER 5. Q&A
Slide 3: Highlights Q1 2022
Q1 REPORT 2022 01 Highlights Q1 2022
Slide 4: Q1 in brief
Q1 REPORT 2022 Q1 in brief 22% Successful implementation After initial period, all New office opening in Zilina The remaining part of our data of business deliveries have in Slovakia for centre operation Organic revenue continuity plan been running further was sold to a growth when the war close to
Slide 5: Key figures
Q1 REPORT 2022 Key figures 22% 22% 14.9% Organic revenue Growth in number Operating margin growth of employees Revenues Employees EBIT margin NOK million 2020 2021 2022 End of period 2020 2021 2022 % 2020 2021 2022 190 176 700 18% 642 16% 14.9 % 170 650 600 14% 150 12% 550 130 10% 500 110 8% 450 6%
Slide 6: Business review
Q1 REPORT 2022 02 Business review
Slide 7: The Russian invasion of Ukraine
Q1 REPORT 2022 The Russian invasion of Ukraine On February 24, when Russia invaded Ukraine, Itera’s Business Continuity Plans (BCP) were immediately put into action, with an imperative focus on securing the safety of all employees. The lives and security of our Ukrainian people and the fulfilment of
Slide 8: Business Continuity Plan was successfully implemented
Q1 REPORT 2022 ITERA Business Continuity Plan was successfully implemented Nordic origin. Global reach Business continuity execution in Ukraine ▪ People safety first. Moving people to Western part of Ukraine and other countries REYKJAVIK ▪ Implementation of an advanced security solution that is resi
Slide 9: Daily revenue generated from Ukraine close to pre-war level
Q1 REPORT 2022 Daily revenue generated from Ukraine close to pre-war level Russian invasion Daily revenue generated from Ukraine Public holiday 1 2 3 4 7 8 9 10 11 14 15 16 17 18 21 22 23 24 25 28 1 2 3 4 7 8 9 10 11 14 15 16 17 18 21 22 23 24 25 28 29 30 31 Feb Mar
Slide 10: My visit to Ukraine as CEO
Q1 REPORT 2022 My visit to Ukraine as CEO – As CEO, I visited our offices in Lviv and Kyiv and went by car through the Western part of Ukraine on 7-9 April 2022. This visit was driven by the desire to demonstrate support to Ukraine, to all Ukrainian employees, to meet with Ukrainian government offic
Slide 11: Itera stands with Ukraine
Q1 REPORT 2022 Itera stands with Ukraine RELOCATION MENTAL HEALTH VOLUNTEERING Organise relocation of our Mental health support Volunteers from Itera are people and their families program is organised for actively involved in various to safe regions and abroad, all employees as needed local Ukraine
Slide 12: The energy transition, digitalisation and Ukraine
Q1 REPORT 2022 The energy transition, digitalisation and Ukraine Norway, the second-biggest supplier of gas to Europe behind Russia, is urged by President Zelenskyy to deliver more energy to stop Russian supply of gas that is financing Putins’ war. Norway as an advanced and reliable Ukraine can meet
Slide 13: DN Studio: How to accelerate the green energy transition
Q1 REPORT 2022 DN Studio: How to accelerate the green energy transition Itera is committed to participating in the global effort to create a sustainable world. As an element of our contribution, we took, together with the Norwegian newspaper DN and NHO (Confederation of Norwegian Enterprises), the i
Slide 14: Sunsetting of own data centre operation completed
Q1 REPORT 2022 Sunsetting of own data centre operation completed The remaining part of our data centre operation that had not already been migrated to the cloud was sold to a new data centre vendor by the end of the quarter. Q1 2022 represents a milestone for the company, as we have both launched ou
Slide 15: Delivery model for DNV created an electric atmosphere
Q1 REPORT 2022 Delivery model for DNV created an electric atmosphere Itera has helped DNV to transform DNV AND ITERA an application that makes it easier STANDS WITH UKRAINE for some of the largest electric utilities in the USA and Canada to improve reliability in the electrical grid. s the world’s l
Slide 16: How an app can improve quality of life
Q1 REPORT 2022 How an app can improve quality of life Itera has assisted Össur in developing ÖSSUR AND an app that gives amputees a better ITERA STANDS WITH UKRAINE patient journey, and prosthetic providers a better basis for decision- making. The solution consists of an app and a web interface used
Slide 17: Order intake
Q1 REPORT 2022 Order intake Order intake from selected new and existing customers Book-to-bill ratio*) of 1.3 in Q1 for core digital business and 1.2 for the last 12 months *) The book-to-bill ratio is the ratio of orders received to the amount of revenue for a specific period for Itera units
Slide 18: Customer development
Q1 REPORT 2022 Customer development Revenue customers split (in MNOK) New business 100% 20 16 11 12 18 23 21 22 16 90% ▪ Existing customers accounted for 91.0% (87.5%) 80% of revenues in Q1 2022 70% 60% ▪ New customers won over the past year generated revenues 50% 40% 111 105 98 124 126 127 118 136
Slide 19: Skilled and innovative employees
Q1 REPORT 2022 Skilled and innovative employees 642 employees at the end of the quarter Number of employees end of quarter by shore 700 55% ▪ Up by 25 in the quarter 600 53% 500 51% ▪ Up by 118 (63) last twelve months 400 49% 300 47% 200 45% Nearshore ratio of 54% (50%) 100 0 43% Q2 Q3 Q4 Q1 Q2 Q3 Q
Slide 20: Norway's top most innovative
Q1 REPORT 2022 Norway's top 25 most innovative In the first quarter, Itera was recognised as one of Norway's most innovative companies across all industries. WE FIND he award is organised by “Innovasjonsmagasinet”, which, with its 25,000 readers and national THE HUMAN distribution, is Norway's premi
Slide 21: Financial review
Q1 REPORT 2022 03 Financial review
Slide 22: Financial reporting 2022
Q1 REPORT 2022 Financial reporting 2022 Itera reported during 2021 on its core digital business as its dominant reporting segment in anticipation of the data centre operations being sunset. As of Q1 2022, the data centre operations have been discontinued and Itera only reports on one segment going f
Slide 23: Key financials
Q1 REPORT 2022 Key financials 2022 2021 Change 2021 ▪ Growth of 22% fuelled by volume NOK Million 1-3 1-3 % FY increases of top customers Sales revenue 176.0 144.4 22 % 593.0 ▪ Personnel expenses mainly driven Gross profit 162.0 132.4 22 % 547.3 by FTE growth Personnel expenses 117.0 95.8 22 % 117.0
Slide 24: Revenue and earnings development
Q1 REPORT 2022 Revenue and earnings development EBIT MNOK margin 180 18% ▪ Strong sales growth year over year with 160 16% 2-year CAGR of 15.5% 140 14% ▪ Quarterly figures are impacted by number of working days net of 120 12% vacations. Q1 2022 had 64 (63) days 100 10% 80 8% 60 6% 40 4% 20 2% 0 0% Q
Slide 25: Discontinued operations
Q1 REPORT 2022 Discontinued operations 2022 2021 change 2021 NOK million 1-3 1-3 1-12 Sales revenue 7.8 12.3 -4.4 40.1 ▪ Data centre operations completed migration of customers in Q1 Cost of sales 4.1 4.9 -0.8 17.4 Gross profit 3.7 7.4 -3.7 22.7 ▪ Residual customer portfolio with Gross margin 47.2%
Slide 26: Statement of cash flow
Q1 REPORT 2022 Statement of cash flow 2022 2021 2021 12 month rolling NOK Million 1-3 1-3 FY cash flow from operations (NOK Million) EBITDA 33.3 28.1 101.6 93 92 Change in balance sheet items (33.7) (27.6) (32.1) Net cash flow from operating activities (0.4) 0.6 69.5 Net cash flow from investment ac
Slide 27: Dividend and own shares
Q1 REPORT 2022 Dividend and own shares ▪ The Board has proposed an ordinary dividend of NOK 1.20 0.20 per share for 2021 with the opportunity to pay a 1.00 supplementary dividend later in the year 0.80 NOK per share ▪ Share price was NOK 12.00 at the end of March 2022, 0.60 an decrease of 18% (16% i
Slide 28: Statement of financial position
Q1 REPORT 2022 Statement of financial position Assets Equity and Liabilities ▪ Equity ratio of 22% (22%) per 31 March 2022 250 ▪ 25% (25%) excl. IFRS 16 Leasing 200 27 Right-of-use 27 assets ▪ Cash balance of MNOK 30 46 Non-current 54 (MNOK 41) 150 assets 159 Current 158 liabilities MNOK ▪ Total bal
Slide 29: Outlook
(Qu RePoRT 2022 TERA 04 Outlook
Slide 30: Outlook
Q1 REPORT 2022 Outlook Full commitment to Strong position Profitable growth Data centres closed Regional expansion Ukraine with efficient through end-to-end and cash flow are down and reported in the Nordics and business continuity services, world-class key focus areas. as discontinued Central Europ
Slide 31: Q&A
Q1 REPORT 2022 05 Q&A
Slide 32: We stand with Ukraine
Slide 33: Top 20 shareholders
Q1 REPORT 2022 Top 20 shareholders No. Name % Nat. Shareholding 1 ARNE MJØS INVEST AS* 30.25 NOR 24 863 031 2 OP CAPITAL AS 5.54 NOR 4 556 083 3 GIP AS 5.08 NOR 4 171 500 4 EIKESTAD AS 3.65 NOR 3 000 000 5 SEPTIM CONSULTING AS 3.59 NOR 2 950 000 6 BOINVESTERING AS 3.27 NOR 2 686 968 7 GAMST INVEST A