EVRY reports EBITA of NOK 223 million for the fourth quarter of 2012

(Oslo, 8 February 2013) EVRY ASA reports operating revenue for the fourth quarter of 2012 of NOK 3,248 million, equivalent to a drop in organic revenue of 6% as the result of weaker economic conditions in Sweden. EBITA increased by 9% to NOK 223 million for the fourth quarter of 2012 after adjusting for positive pension effects in the fourth quarter of 2011.

Cash flow from operations was NOK 657 million in the fourth quarter of 2012, up from NOK 623 million for the fourth quarter of 2011. In accordance with the company's dividend policy, the Board of Directors has resolved to recommend that the Annual General Meeting should approve a dividend for the 2012 financial year of NOK 0.35 per share.

EVRY reports operating revenue for 2012 of NOK 12,731 million, equivalent to organic growth of zero percent. EBITA for 2012 was NOK 708 million as compared to NOK 669 million in 2011 after adjusting for a positive pension effect from actuarial gains of NOK 112 million in 2011. The Solutions and Consulting segments reported increases in EBITA, but the IT Operations segment reported lower EBITA.

"I am pleased to see the improvement in profits reported for the fourth quarter and for 2012 as a whole, but I am still not satisfied with the level of profits. We implemented a new and streamlined organisational structure at the start of 2013, and this together with the Future Proof improvement program for IT operations will help to improve the company's profitability", comments Terje Mjøs, CEO of EVRY.

Key figures and main features of the fourth quarter of 2012

• Operating revenue of NOK 3,248 million (NOK 3,478 million in the fourth quarter of 2011)
• EBITA NOK 223 million (NOK 204 million in the fourth quarter of 2011 before pension effects)
• EBITA margin of 6.9% in the fourth quarter of 2012 (5.9% in the fourth quarter of 2011)
• Non-recurring items in the fourth quarter of 2012 totalled NOK 209 million including Digoff NOK 112 million, NOK 30 million related to reduced overhead and simplified organisation and NOK 67 million from write down linked to old solution portfolio.
• EBIT in the fourth quarter of 2012 was NOK 70 million (NOK 174 million in the fourth quarter of 2011)
• Cash flow from operations of NOK 657 mill (NOK 623 million in the fourth quarter of 2011)
• EPS NOK -0,12 in the fourth quarter of 2012 (NOK 0.28 in the fourth quarter of 2011)
• Proposed dividend of NOK 0.35 per share accordance with the company's dividend policy

Key figures and main features of 2012