New Risk • Jul 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Norwegian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (kr473.9m market cap, or US$49.2m). Upcoming Dividend • May 21
Upcoming dividend of kr0.20 per share Eligible shareholders must have bought the stock before 28 May 2026. Payment date: 10 June 2026. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Norwegian dividend payers (7.1%). Lower than average of industry peers (5.2%). Reported Earnings • May 11
First quarter 2026 earnings released: EPS: kr0.16 (vs kr0.18 in 1Q 2025) First quarter 2026 results: EPS: kr0.16 (down from kr0.18 in 1Q 2025). Revenue: kr222.9m (down 3.8% from 1Q 2025). Net income: kr12.7m (down 13% from 1Q 2025). Profit margin: 5.7% (down from 6.3% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 30
Final dividend of kr0.20 announced Dividend of kr0.20 is the same as last year. Ex-date: 28th May 2026 Payment date: 10th June 2026 Dividend yield will be 4.3%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (71% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 114% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 16
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: kr0.28 (down from kr0.43 in FY 2024). Revenue: kr846.5m (flat on FY 2024). Net income: kr23.0m (down 34% from FY 2024). Profit margin: 2.7% (down from 4.1% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 39%. Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. New Risk • Feb 16
New major risk - Revenue and earnings growth Earnings have declined by 11% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 11% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (96% payout ratio). Profit margins are more than 30% lower than last year (3.0% net profit margin). Market cap is less than US$100m (kr598.1m market cap, or US$63.0m). Aankondiging • Feb 14
Itera ASA Proposes Ordinary Dividend The Board of Itera ASA intends to propose an ordinary dividend of NOK0.20 per share at the AGM on 27 May 2026 and will seek authorisation for a potential supplementary dividend. It also authorised a share repurchase programme. Aankondiging • Dec 17
Itera ASA, Annual General Meeting, May 25, 2027 Itera ASA, Annual General Meeting, May 25, 2027. Reported Earnings • Oct 26
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: kr0.04 (up from kr0.011 loss in 3Q 2024). Revenue: kr198.5m (up 7.7% from 3Q 2024). Net income: kr3.59m (up kr4.46m from 3Q 2024). Profit margin: 1.8% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 22
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from kr901.3m to kr838.8m. EPS estimate also fell from kr0.625 per share to kr0.442 per share. Net income forecast to grow 106% next year vs 40% growth forecast for IT industry in Norway. Consensus price target down from kr10.50 to kr9.00. Share price fell 3.9% to kr8.42 over the past week. Reported Earnings • Aug 17
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: kr0.02 (down from kr0.20 in 2Q 2024). Revenue: kr202.9m (down 9.4% from 2Q 2024). Net income: kr1.69m (down 90% from 2Q 2024). Profit margin: 0.8% (down from 7.2% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 89%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 20
Upcoming dividend of kr0.20 per share Eligible shareholders must have bought the stock before 27 May 2025. Payment date: 10 June 2025. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Norwegian dividend payers (9.0%). Higher than average of industry peers (2.4%). New Risk • May 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Norwegian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Profit margins are more than 30% lower than last year (4.1% net profit margin). Market cap is less than US$100m (kr743.6m market cap, or US$71.7m). Declared Dividend • Apr 28
Final dividend reduced to kr0.20 Dividend of kr0.20 is 50% lower than last year. Ex-date: 27th May 2025 Payment date: 10th June 2025 Dividend yield will be 4.7%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 121% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 27
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: kr0.43 (down from kr0.70 in FY 2023). Revenue: kr848.8m (down 2.6% from FY 2023). Net income: kr35.0m (down 38% from FY 2023). Profit margin: 4.1% (down from 6.5% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 10% per year. Major Estimate Revision • Mar 14
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from kr0.732 to kr0.625 per share. Revenue forecast steady at kr901.3m. Net income forecast to grow 47% next year vs 42% growth forecast for IT industry in Norway. Consensus price target of kr10.50 unchanged from last update. Share price fell 4.9% to kr9.00 over the past week. Reported Earnings • Feb 23
Full year 2024 earnings released: EPS: kr0.43 (vs kr0.70 in FY 2023) Full year 2024 results: EPS: kr0.43 (down from kr0.70 in FY 2023). Revenue: kr849.1m (down 2.6% from FY 2023). Net income: kr34.9m (down 38% from FY 2023). Profit margin: 4.1% (down from 6.5% in FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 11% per year. New Risk • Jan 13
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (kr727.0m market cap, or US$63.4m). Aankondiging • Dec 13
Itera ASA, Annual General Meeting, May 27, 2026 Itera ASA, Annual General Meeting, May 27, 2026. Major Estimate Revision • Dec 03
Consensus EPS estimates fall by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from kr882.8m to kr852.5m. EPS estimate also fell from kr0.724 per share to kr0.529 per share. Net income forecast to grow 37% next year vs 37% growth forecast for IT industry in Norway. Consensus price target of kr10.50 unchanged from last update. Share price was steady at kr9.00 over the past week. Major Estimate Revision • Nov 24
Consensus EPS estimates increase by 37% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from kr852.5m to kr882.8m. EPS estimate increased from kr0.529 to kr0.724 per share. Net income forecast to grow 94% next year vs 70% growth forecast for IT industry in Norway. Consensus price target of kr10.50 unchanged from last update. Share price was steady at kr9.00 over the past week. Price Target Changed • Nov 13
Price target decreased by 13% to kr10.50 Down from kr12.00, the current price target is provided by 1 analyst. New target price is 18% above last closing price of kr8.90. Stock is down 25% over the past year. The company is forecast to post earnings per share of kr0.53 for next year compared to kr0.70 last year. Declared Dividend • Nov 11
Dividend of kr0.20 announced Shareholders will receive a dividend of kr0.20. Ex-date: 12th November 2024 Payment date: 6th December 2024 Dividend yield will be 6.3%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 77% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 10
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: kr0.01 loss per share (down from kr0.072 profit in 3Q 2023). Revenue: kr184.2m (down 5.0% from 3Q 2023). Net loss: kr877.0k (down 115% from profit in 3Q 2023). Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Aankondiging • Nov 08
Itera ASA Announces Cash Dividend, Payable on December 6, 2024 Itera ASA announced a cash dividend of NOK 0.20 per share. Ex-date is on 12 November 2024 and the record date is on 13 November 2024. The payment date is on 6 December 2024. Buy Or Sell Opportunity • Nov 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to kr9.48. The fair value is estimated to be kr11.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 3.3%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 92% in the next 2 years. Reported Earnings • Aug 28
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: kr0.20 (up from kr0.18 in 2Q 2023). Revenue: kr224.1m (flat on 2Q 2023). Net income: kr16.2m (up 9.4% from 2Q 2023). Profit margin: 7.2% (up from 6.6% in 2Q 2023). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 4.8%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Jun 04
Insider recently sold kr234k worth of stock On the 31st of May, Odd Khalifi sold around 20k shares on-market at roughly kr11.70 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr16k more than they sold in the last 12 months. Upcoming Dividend • May 16
Upcoming dividend of kr0.40 per share Eligible shareholders must have bought the stock before 23 May 2024. Payment date: 07 June 2024. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Norwegian dividend payers (7.8%). Lower than average of industry peers (4.2%). Reported Earnings • May 03
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: kr0.17 (down from kr0.30 in 1Q 2023). Revenue: kr228.5m (flat on 1Q 2023). Net income: kr13.9m (down 43% from 1Q 2023). Profit margin: 6.1% (down from 11% in 1Q 2023). Revenue missed analyst estimates by 6.4%. Earnings per share (EPS) also missed analyst estimates by 38%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 4% per year. New Risk • May 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.3% Last year net profit margin: 8.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (5.3% net profit margin). Market cap is less than US$100m (kr934.2m market cap, or US$86.0m). Declared Dividend • Apr 29
Final dividend increased to kr0.40 Dividend of kr0.40 is 33% higher than last year. Ex-date: 23rd May 2024 Payment date: 7th June 2024 Dividend yield will be 6.5%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 67% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Apr 26
Itera ASA Announces Cash Dividend, Payable on 7 June 2024 Itera ASA announced a cash dividend of NOK 0.40 per share. Ex-date is on 23 May 2024 and the record date is on 24 May 2024. The payment date is on 7 June 2024. Reported Earnings • Feb 18
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: kr0.70 (down from kr0.76 in FY 2022). Revenue: kr871.6m (up 18% from FY 2022). Net income: kr56.7m (down 7.7% from FY 2022). Profit margin: 6.5% (down from 8.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.6%. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Feb 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Norwegian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (kr946.3m market cap, or US$88.6m). Reported Earnings • Oct 29
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: kr0.07 (down from kr0.099 in 3Q 2022). Revenue: kr193.9m (up 14% from 3Q 2022). Net income: kr5.84m (down 27% from 3Q 2022). Profit margin: 3.0% (down from 4.7% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 56%. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 28
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: kr0.18 (down from kr0.20 in 2Q 2022). Revenue: kr225.2m (up 23% from 2Q 2022). Net income: kr14.8m (down 11% from 2Q 2022). Profit margin: 6.6% (down from 9.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 9.0%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Aankondiging • May 25
Itera ASA Approves Ordinary Dividend, Payable on 6 June 2023 Itera ASA approved ordinary dividend of NOK 0.30 per share. The dividend will be paid to shareholders who own shares on the 24 May 2023. The share will be traded excluding the right to the dividend on 25 May 2023. The dividend will be paid on 6 June 2023. Upcoming Dividend • May 18
Upcoming dividend of kr0.30 per share at 1.9% yield Eligible shareholders must have bought the stock before 25 May 2023. Payment date: 06 June 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Norwegian dividend payers (8.2%). Lower than average of industry peers (3.5%). Reported Earnings • May 12
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: kr0.30 (up from kr0.25 in 1Q 2022). Revenue: kr230.3m (up 31% from 1Q 2022). Net income: kr24.5m (up 22% from 1Q 2022). Profit margin: 11% (in line with 1Q 2022). Revenue exceeded analyst estimates by 8.1%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 17
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: kr0.76 (up from kr0.55 in FY 2021). Revenue: kr735.8m (up 16% from FY 2021). Net income: kr61.4m (up 39% from FY 2021). Profit margin: 8.3% (up from 7.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 2.1% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Aankondiging • Feb 17
Itera Asa Proposes Dividend Itera ASA at its meeting on 15 February 2023, the Board of Directors passed a resolution to propose an ordinary dividend of NOK 0.30 per share at the Annual General Meeting on 24 May 2023. It will also ask for its authorisation to approve possible additional dividends to be renewed. Price Target Changed • Jan 24
Price target increased by 14% to kr16.00 Up from kr14.00, the current price target is provided by 1 analyst. New target price is 12% above last closing price of kr14.25. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of kr0.73 for next year compared to kr0.55 last year. Board Change • Nov 16
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 8 non-independent directors. Head of AI & Analytics & Director Siren Tønnesen was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Reported Earnings • Oct 26
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: kr0.10 (up from kr0.095 in 3Q 2021). Revenue: kr170.9m (up 16% from 3Q 2021). Net income: kr8.05m (up 5.7% from 3Q 2021). Profit margin: 4.7% (down from 5.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 3.0% decline forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 25
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: kr0.20 (up from kr0.16 in 2Q 2021). Revenue: kr183.5m (up 14% from 2Q 2021). Net income: kr16.5m (up 30% from 2Q 2021). Profit margin: 9.0% (up from 7.9% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 10%. Over the next year, revenue is forecast to grow 9.9% compared to a 9.6% decline forecast for the IT industry in Norway. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 03
First quarter 2022 earnings: Revenues miss analyst expectations First quarter 2022 results: Revenue: kr176.0m (up 12% from 1Q 2021). Net income: kr20.0m (up 40% from 1Q 2021). Profit margin: 11% (up from 9.1% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.6%. Over the next year, revenue is forecast to grow 10%, compared to a 9.0% growth forecast for the industry in Norway. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improved over the past week After last week's 19% share price gain to kr13.60, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 21x in the IT industry in Europe. Total returns to shareholders of 91% over the past three years. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Board Member Marianne Killengreen was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improved over the past week After last week's 18% share price gain to kr12.35, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 21x in the IT industry in Europe. Total returns to shareholders of 76% over the past three years. Upcoming Dividend • Nov 15
Upcoming dividend of kr0.10 per share Eligible shareholders must have bought the stock before 22 November 2021. Payment date: 03 December 2021. Trailing yield: 1.3%. Lower than top quartile of Norwegian dividend payers (4.8%). In line with average of industry peers (1.3%). Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS kr0.09 (vs kr0.13 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: kr147.5m (up 6.7% from 3Q 2020). Net income: kr7.61m (down 28% from 3Q 2020). Profit margin: 5.2% (down from 7.7% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year. Reported Earnings • Aug 21
Second quarter 2021 earnings released: EPS kr0.16 (vs kr0.14 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr161.1m (up 6.8% from 2Q 2020). Net income: kr12.8m (up 13% from 2Q 2020). Profit margin: 7.9% (up from 7.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jul 14
Chairman of the Board recently bought kr396k worth of stock On the 13th of July, Morten Thorkildsen bought around 28k shares on-market at roughly kr14.14 per share. This was the largest purchase by an insider in the last 3 months. This was Morten's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Jun 25
Group Chief Operating Officer exercised options to buy kr809k worth of stock. On the 22nd of June, Jon Høgberg exercised options to buy 58k shares at a strike price of around kr6.42, costing a total of kr372k. This transaction amounted to 6.4% of their direct individual holding at the time of the trade. Since December 2020, Jon's direct individual holding has increased from 782.05k shares to 828.78k. Company insiders have collectively bought kr5.0m more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • May 19
Upcoming dividend of kr0.25 per share Eligible shareholders must have bought the stock before 26 May 2021. Payment date: 08 June 2021. Trailing yield: 1.9%. Lower than top quartile of Norwegian dividend payers (5.1%). Higher than average of industry peers (1.7%). Aankondiging • Apr 29
Itera Asa Proposes Dividend for the Full Year 2020 Itera ASA confirmed its previous resolution to propose an ordinary dividend of NOK 0.25 per share at the Annual General Meeting on 25 May 2021.