The Articles of Association include no form of restriction on negotiability.
| 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
| Earnings per outstanding share (NOK) | 0.51 | 0.39 | 0.36 | 0.31 | 0.16 | -0.06 |
| Operating cash flow per share (NOK) | 0.97 | 0.69 | 0.61 | 0.59 | 0.25 | 0.56 |
| Dividends paid per share (NOK) | 0.20 | 0.55 | 0.43 | 0.27 | 0.15 | 0.35 |
| No. of shares (1000) at year end | 82 187 | 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 | 82 187 |
| Share price | 11.5 | 8.40 | 7.14 | 5.20 | 3.50 | 3.00 |
| Price / book equity | 20.4 | 11.30 | 11.59 | 7.87 | 5.29 | 4.58 |
| Market Capitalisation (MNOK) | 945.1 | 690.4 | 586.8 | 427.4 | 287.7 | 246.6 |
Full year 2019 |
Full year 2018 |
Full year 2017 |
Jan - Jun 2017 |
Jan - Jun 2016 |
Full year 2016 |
|
| Operating revenue, MNOK | 560.3 | 531.3 | 475.0 | 232.1 | 215.7 | 424.8 |
| Operating profit (EBIT), MNOK | 56.2 | 42.8 | 39.3 | 19.1 | 14.5 | 34.1 |
| Operating margin (EBIT), % | 8.1% | 8.1% | 8.3% | 8.2 % | 6.7 % | 8.0 % |
| Number of employees (period end) | 512 | 486 | 491 | 430 | 370 | 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. |
| 23 297 852 | 28,35 | ARNE MJØS INVEST AS* | NOR |
| 4 443 357 | 5,41 | OP CAPITAL AS | NOR |
| 3 800 000 | 4,62 | GIP AS | NOR |
| 3 350 000 | 4,08 | DnB NOR Bank ASA | NOR |
| 3 150 000 | 3,83 | EIKESTAD AS | NOR |
| 2 890 000 | 3,52 | SEPTIM CONSULTING AS | NOR |
| 2 640 000 | 3,21 | BOINVESTERING AS | NOR |
| 2 344 927 | 2,85 | GAMST INVEST AS | NOR |
| 2 200 000 | 2,68 | JØSYRA INVEST AS | NOR |
| 2 031 588 | 2,47 | MARXPIST INVEST AS | NOR |
| 1 727 954 | 2,10 | ITERA ASA | NOR |
| 1 683 575 | 2,05 | STOREBRAND VEKST VERDIPAPIRFOND | NOR |
| 921 489 | 1,12 | FRAMAR INVEST AS | NOR |
| 900 000 | 1,10 | AANESTAD PANAGRI AS | NOR |
| 731 870 | 0,89 | HØGBERG JON ERIK | NOR |
| 700 000 | 0,85 | ALTEA PROPERTY DEVELOPMENT AS | NOR |
| 650 800 | 0,79 | JENSEN LARS PETER | NOR |
| 630 000 | 0,77 | NYVANG JETMUND GUNNAR | NOR |
| 610 000 | 0,74 | KIM-KJETIL GRØSLAND | NOR |
| 600 000 | 0,73 | MORTEN JOHNSEN HOLDING AS | NOR |
| 59 203 065 | 72,03 | ||
| 82 186 624 | 100 |
Last updated: 02.07.2020
*Arne Mjøs Invest AS holds a future contract expiring 18 September 2020 on 3,350,000 shares at an average price of NOK 9.1427 per share. The total controlling interest of Arne Mjøs is thus 26,647,852 shares (32.4%).
Shareholdings owned directly or indirectly, and stock options held by the Executive Management.
| Name | Position | Share | Stock Options |
| Arne Mjøs* | CEO | 23 297 852 | 57 960 |
| Bent Hammer | CFO | 380 313 | 123 840 |
| Bjørn Myrvold | Sales | 50 201 | 168 800 |
| Anine Ragnif | COO | 1744 | 150 000 |
| Mette Mowinckel | HR | 1744 | 100 000 |
| Ane Gjennestad | CCO | 184 019 | 41 280 |
*Arne Mjøs Invest AS holds a future contract expiring 18 September 2020 on 3,350,000 shares at an average price of NOK 9.1427 per share. The total controlling interest of Arne Mjøs is thus 26,647,852 shares (32.4%).
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
