The Articles of Association include no form of restriction on negotiability.
| 2019 | 2018 | 2017 | 2016 | 2015 | |
| Earnings per outstanding share (NOK) | 0.51 | 0.39 | 0.36 | 0.31 | 0.16 |
| Operating cash flow per share (NOK) | 0.97 | 0.69 | 0.61 | 0.59 | 0.25 |
| Dividends paid per share (NOK) | 0.20 | 0.55 | 0.43 | 0.27 | 0.15 |
| No. of shares (1000) at year end | 82 187 | 82 187 | 82 187 | 82 187 | 82 187 |
| Avg. no. of shares (1000) | 81 244 | 81 087 | 81 691 | 81 221 | 82 123 |
| Share price | 11.5 | 8.40 | 7.14 | 5.20 | 3.50 |
| Price / book equity | 20.4 | 11.3 | 11.6 | 7.9 | 5.3 |
| Market Capitalisation (MNOK) | 945.1 | 690.4 | 586.8 | 427.4 | 287.7 |
2019 |
2018 |
2017 |
2016 |
|
| Operating revenue, MNOK | 560.3 | 531.3 | 475.0 | 424.8 |
| Operating profit (EBIT), MNOK | 56.2 | 42.8 | 39.3 | 34.1 |
| Operating margin (EBIT), % | 8.1% | 8.1% | 8.3% | 8.0 % |
| Number of employees (period end) | 512 | 486 | 491 | 395 |
Itera's dividend policy, adopted by the Board of Directors, is to distribute a dividend of minimum 50 % of the normalized result after tax. The annual dividend payment will depend on the financial situation, need for working capital and investments or acquisition possibilities.
| Year | Dividend | Date |
| 2019 | NOK 0.20 | 25.05.2020 |
| 2018 | NOK 0.30 | 25.10.2019 |
| 2018 | NOK 0.25 | 22.05.2019 |
| 2017 | NOK 0.25 | 23.05.2018 |
| 2016 | NOK 0.25 | 25.10.2017 |
| 2016 | NOK 0.18 | 23.05.2017 |
| 2015 | NOK 0.15 | 21.10.2016 |
| 2015 | NOK 0.12 | 24.05.2016 |
| 2014 | NOK 0.15 | 29.10.2015 |
| 2013 | NOK 0.35 | 23.05.2014 |
| 2012 | NOK 0.06 | 24.05.2013 |
| 2010 | NOK 0.10 | 27.05.2011 |
| 2009 | NOK 0.20 | 20.05.2010 |
| 2008 | NOK 0.20 | 25.05.2009 |
| 2007 | NOK 0.50 | 23.05.2008 |
Itera treats all shareholders equally concerning information relevant to the share price, and publishes all information relevant to the share price through the notification system of Oslo Stock Exchange, with additional publishing on the company website.
At the website the company also publishes the quarterly reports on-line through webcast. The company follows the Oslo Stock Exchange's recommendation concerning the reporting of IR information.
Itera ASA (the company) complies with the Norwegian Code of Practice for Corporate Governance. There are no significant deviations between the Code of Practice and the way it is implemented in the company.
The company's corporate governance principles are adopted by the Board of Directors and ensure an appropriate division of roles and responsibility and well-functioning cooperation among the company's shareholders, the Board of Directors (the Board) and its senior management, and that the company's activities are subject to satisfactory control. An appropriate division of roles, effective cooperation, and satisfactory control contribute to the best possible value creation over time, to the benefit of owners and other stakeholders. The Corporate Governance principles are further described in Itera's annual report.
Itera's code of ethics addresses impartiality, conflicts of interests, relation with customers and suppliers, relations with media, insider trading and relevant financial interests of a personal nature. The code of ethics applies to all employees in Itera.
| Shareholding | % | Name | Nat. |
| 24 048 214 | 29,26 | ARNE MJØS INVEST AS* | NOR |
| 4 478 110 | 5,45 | OP CAPITAL AS | NOR |
| 3 929 500 | 4,78 | GIP AS | NOR |
| 3 500 000 | 4,26 | EIKESTAD AS | NOR |
| 2 900 000 | 3,53 | SEPTIM CONSULTING AS | NOR |
| 2 800 000 | 3,41 | SPAREBANK 1 MARKETS AS | NOR |
| 2 640 000 | 3,21 | BOINVESTERING AS | NOR |
| 2 384 165 | 2,90 | GAMST INVEST AS | NOR |
| 2 200 000 | 2,68 | JØSYRA INVEST AS | NOR |
| 2 031 588 | 2,47 | MARXPIST INVEST AS | NOR |
| 1 878 000 | 2,29 | DNB NOR BANK ASA | NOR |
| 1 555 628 | 1,89 | STOREBRAND VEKST VERDIPAPIRFOND | NOR |
| 1 472 000 | 1,79 | VERDIPAPIRFONDET KLP AKSJENORGE IN | NOR |
| 1 269 136 | 1,54 | ITERA ASA | NOR |
| 925 000 | 1,13 | FRAMAR INVEST AS | NOR |
| 900 000 | 1,10 | AANESTAD PANAGRI AS | NOR |
| 782 045 | 0,95 | HØGBERG JON ERIK | NOR |
| 700 000 | 0,85 | ALTEA PROPERTY DEVELOPMENT AS | NOR |
| 630 000 | 0,77 | NYVANG JETMUND GUNNAR | NOR |
| 610 000 | 0,74 | KIM-KJETIL GRØSLAND | NOR |
| 607 550 | 0,74 | JENSEN LARS PETER | DEN |
| 600 000 | 0,73 | MORTEN JOHNSEN HOLDING AS | NOR |
| 59 478 386 | 76,47 | ||
| 82 186 624 | 100 |
Last updated: 29.12.2020
*Arne Mjøs Invest AS holds a future contract expiring 19 March 2021 on 2,800,000 shares at an average price of NOK 9.9736 per share. The total controlling interest of Arne Mjøs is thus 26,848,214 shares (32.7%).
Shareholdings owned directly or indirectly, and stock options held by the Executive Management.
| Name | Position | Share | Stock Options |
| Arne Mjøs* | CEO | 26 848 214 | 57 960 |
| Bent Hammer | CFO | 380 313 | 123 840 |
| Bjørn Myrvold | CSO | 50 201 | 168 800 |
| Anine Ragnif | COO | 1744 | 150 000 |
| Mette Mowinckel | CHRO | 4594 | 100 000 |
| Ane Gjennestad | CCO | 184 019 | 41 280 |
*Arne Mjøs Invest AS holds a future contract expiring 19 March 2021 on 2,800,000 shares at an average price of NOK 9.9736 per share. The total controlling interest of Arne Mjøs is thus 26,848,214 shares (32.7%).
Shareholdings owned directly or indirectly, and stock options held by the Board.
Name |
Position |
Shares |
Stock Options |
| Jan Erik Karlsson | Board Member | 320 376 | 0 |
| Marianne Killengreen | Board Member | 0 | 0 |
| Morten Thorkildsen | Board Member | 38 998 | 0 |
| Gyrid S. Ingerød | Board Member | 38 000 | 0 |
| Anne Nyseter Perez | Employee Representative | 436 | 0 |
| Andreas Almquist | Employee Representative | 75 255 | 74 000 |
| Odd H. Khalifi | Observer in the board | 69 083 | 124 000 |
| Charlotte Bech Blindheim | Observer in the board | 766 | 0 |
Petter Kongslie
Equity Analyst
Tlf. dir.: (+47) 24 14 74 96
Mob. : (+47) 98 41 10 80
E-mail : petter.kongslie@sb1markets.no
