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Transcription:

Q4 2014 presentation 5 February 2015

Agenda Highlights Financial overview Market outlook

Q4 Highlights Strong finish to a record year Revenue of NOK 7 549 million, up 10.3% EBITDA* of NOK 396 million, up 9.7% EBIT of NOK 287 million, up 76.8% Cash flow from operations of NOK 786 million, providing full year growth of 9.7% Strategic acquisitions of Axcess in Denmark and Imento in Norway Board proposes dividend of NOK 6.50 per share to be paid in 2015 * Before share-based compensation, expenses related to acquisitions, and restructuring costs

NOK in million NOK in million Group revenue Solid growth across all lines of business (hardware, software, services) Q4 growth +10.3% Full Year growth +11.3% 7 549 24 588 6 846 22 096 Q4 13 Q4 14 YTD 13 YTD 14

Group hardware revenue Growth vs corresponding quarter last year 14.5 % 17.1 % 14.3 % 9.2 % 9.9 % Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Gross margin development 11.9 % 12.7 % 13.6 % 12.7 % 13.1 % Q4 13 Q1 14 Q2 14 Q3 14 Q4 14

Group software revenue Growth vs corresponding quarter last year 21.7 % 13.0 % 3.4 % -1.6 % 5.5 % Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Gross margin development 17.1 % 10.5 % 10.3 % 9.1 % 10.9 % Q4 13 Q1 14 Q2 14 Q3 14 Q4 14

Group services revenue Growth vs corresponding quarter last year 11.4 % 13.1 % 4.6 % 0.8 % 1.8 % Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Margin development 66.0 % 65.7 % 66.1 % 66.5 % 64.0 % Q4 13 Q1 14 Q2 14 Q3 14 Q4 14

NOK in million NOK in million Group EBITDA* Higher revenue and improved product margin drives profitability Q4 growth +9.7% Full Year growth +19.7% 396 958 361 800 Q4 13 Q4 14 YTD 13 YTD 14 * Before share-based compensation, expenses related to acquisitions, and restructuring costs

NOK in million NOK in million Group EBIT Very high growth in EBIT, after restructuring costs of MNOK 77 in Q4 2013 Q4 growth Full Year growth +76.8% 287 +64.5% 584 162 355 Q4 13 Q4 14 YTD 13 YTD 14

NOK in million NOK in million Norway Higher revenue, but one-time savings** in Q4 2013 means lower EBITDA* Revenue EBITDA* b +1.3% -3.7% b 2 081 2 108 118 113 Q4 13 Q4 14 Q4 13 Q4 14 * Before share-based compensation, expenses related to acquisitions, and restructuring costs ** One-time savings of MNOK 29 from change in pension program in Q4 2013

SEK in million SEK in million Sweden Strong growth trend continues, with improved product margins Revenue +8.5% b EBITDA* +8.0% b 2 874 109 2 649 101 Q4 13 Q4 14 Q4 13 Q4 14 * Before share-based compensation, expenses related to acquisitions, and restructuring costs

DKK in million DKK in million Denmark Solid sales performance across all lines of business Revenue +11.1% b EBITDA* +8.3% b 1 783 138 1 605 128 Q4 13 Q4 14 Q4 13 Q4 14 * Before share-based compensation, expenses related to acquisitions, and restructuring costs

EUR in million EUR in million Finland Turnaround actions taken, with greatly improved financial results Revenue +23.3% b EBITDA* N/A b 55 1.6 45 Q4 13 Q4 14 Q4 13 Q4 14-0.3 * Before share-based compensation, expenses related to acquisitions, and restructuring costs

EUR in million EUR in million The Baltics Very strong revenue growth, but fewer high margin projects Revenue 30.5% b EBITDA* -1.8% b 34 1.9 1.8 26 Q4 13 Q4 14 Q4 13 Q4 14 * Before share-based compensation, expenses related to acquisitions, and restructuring costs

Cash flow from operations High seasonal cash flow in Q4, with strong growth over full year Q4 14 786-26.0% b Q4 13 1 063 Full Year FY 14 959 +9.7% b FY 13 874 Note: Cash flow from operations includes net interest expense, in line with general accounting practice. In previous periods, interest expense was reported within cash flow from financing. Either treatment is permissable under IFRS.

Record performance for Atea in 2014 Key achievements Record high revenue of MNOK 24 588 Record high EBITDA* of MNOK 958 Excellent cash conversion Strengthens market position within key business lines Recognized for outstanding performance by leading global IT companies * Before share-based compensation, expenses related to acquisitions, and restructuring costs

Performance targets and results Deliver profitable growth and strong cash flow. Enable high dividend payout to shareholders. Financial Objective 2014 Results 1. Organic growth in excess of market Growth of 7.7% in constant currency vs. 5.6% est. market growth* 2. Achieve 20%+ market share through organic growth and selective acquisitions Expand market share to est. 17%. Four strategic acquisitions during 2014 3. Growth in profit margin Adj. EBITDA % margin grows to 3.9%, up from 3.6% in 2013 4. Strong cash conversion: Free Cash Flow in line with Net Income** Free cash flow equals 131% of Net Income** 5. High annual dividend payout, based on cash flow generation Cash dividend of NOK 6.50 proposed to be paid in 2015 (vs. NOK 6.00 in 2014) * Pro forma growth adjusted for acquisitions and currency effects. Market growth based on December IDC estimate (2014 full year). ** Free Cash Flow defined as Cash Flow from Operations, minus capex and interest. Net income adjusted for actual taxes paid.

Record high revenue and EBITDA* Revenue growth of 11.3% and EBITDA* growth of 19.7% in 2014 Revenue (MNOK) EBITDA* (MNOK) 25 000 20 000 Revenue CAGR 8.0%** EBITDA* CAGR 20.0% 1 000 800 15 000 600 10 000 400 5 000 200 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Revenue EBITDA before SBC 0 * Before share-based compensation, expenses related to acquisitions, and restructuring costs ** Estimated organic growth rate of 4.5% + acquisitions

Strengthening market position Gaining market share through organic growth and strategic acquisitions Scale is critical for competitive advantage in IT infrastructure market Atea has led the market consolidation with more than 50 acquisitions since 2007, at much lower valuation multiples than Atea Key acquisitions in 2014: - Axcess: Specializes within networks, security, datacenter and collaboration MNOK 648 revenue (2014); 190 employees - Imento: Delivers IT infrastructure to the SMB market in Norway MNOK 251 revenue (2014); 44 employees - Datatech: Specialist in IT solutions to the maritime and offshore industries MNOK 37 revenue (2014); 16 employees - BCC: Provides full range of IT infrastructure to the Finnish market MNOK 67 revenue (2014); 21 employees

Enhancing leadership in growth markets Acquisition of Axcess builds upon Atea s competitive advantage within key growth markets of networking and security Networks are increasingly connecting more devices, with rapidly growing traffic and security threats For this reason, networks and network security are a top priority for IT departments and a major growth opportunity for Atea The acquisition of Axcess greatly expands Atea s competence in networking and security, and provides a platform for further growth With the acquisition, Atea s position in networking and security within the Nordic and Baltic regions is unrivalled

Recognized for outstanding performance in 2014

High annual dividend payout Increased annual dividend of NOK 6.50 to be proposed at AGM. Two equal installments of NOK 3.25 to be paid in May and October 2015 Dividend per share (NOK) 9.50** 5.00 5.50 6.00 6.50 1.00 1.25 2.00 2009 2010 2011 2012 2013 2014 2015* * Proposed dividend to be paid in 2015 by the Board subject of approval by the AGM ** NOK 5.50 per share in ordinary dividend and NOK 4.00 in extraordinary dividend

Strong momentum going into 2015 Build on Atea s unique strategic position in Nordic and Baltic markets in 2015 Demand for IT infrastructure continues to grow Increase market share organically and through selective M&A Invest in strategic growth areas of SMB, networking, security and IT-as-a-service Improve profit margins through growth in services and through operating efficiencies Continue strong cash conversion

Q4 2014 Fact pack

Key numbers - Group Q4 Q4 Full year Full year 2014 2013 2014 2013 Group revenue (NOK in million) 7,549.3 6,845.6 24,588.4 22,095.8 Gross margin (%) 22.4 22.6 23.3 24.1 EBITDA (NOK in million) * 395.6 360.6 958.3 800.3 EBITDA margin (%) * 5.2 5.3 3.9 3.6 EBIT (NOK in million) 286.9 162.3 583.8 354.9 Earnings per share (NOK) 2.07 1.93 4.14 3.33 Diluted earnings per share (NOK) 2.06 1.92 4.10 3.31 Cash flow from operations (NOK in million) 786.4 1,062.5 958.8 874.3 Free cash flow (NOK in million) ** 655.3 852.5 617.3 433.1 31 Dec 2014 31 Dec 2013 Net financial position (NOK in million) -828.8-419.1 Liquidity reserve (NOK in million) *** 1,627.7 1,325.7 Working capital (NOK in million) **** -496.8-353.6 Working capital in relation to annualized revenue (%) -1.6-1.3 Equity ratio (%) 28.0 31.4 Number of full-time employees 6,504 6,280 * Before share-based compensation and expenses/income related to acquisitions and restructuring costs ** Defined as cash flow from operations, less capital expenditures. Capital expenditures include assets acquired through cash purchases and through financial leasing agreements *** Limited by 2.5 debt bond covenant ratio (net debt/last twelve months proforma EBITDA) **** Non-interest-bearing current assets less non-interest-bearing current liabilities

Consolidated statement of financial position - Group NOK in million 31 Dec 2014 31 Dec 2013 ASSETS Property, plant and equipment 613.0 520.1 Deferred tax assets 546.4 557.6 Goodwill 3,588.4 3,132.4 Other intangible assets 368.8 325.6 Shares in associated companies 8.5 0.0 Other long-term receivables 0.1 0.3 Non-current assets 5,125.2 4,536.0 Inventories 632.2 462.5 Trade receivables 5,496.0 4,751.3 Other receivables 776.8 690.2 Other financial assets 10.7 1.6 Cash and cash equivalents 582.8 745.8 Current assets 7,498.4 6,651.4 Total assets 12,623.7 11,187.4 EQUITY AND LIABILITIES Share capital and premium 1,139.9 1,092.2 Other unrecognised reserves 1,079.3 937.9 Retained earnings 1,330.0 1,502.7 Equity 3,549.2 3,532.8 Interest-bearing long-term liabilities 1,120.8 1,018.7 Other long-term liabilities 3.3 9.4 Retirement benefit obligations 0.5 0.5 Deferred tax liabilities 246.4 220.6 Non-current liabilities 1,371.0 1,249.2 Trade payables 4,681.1 3,847.4 Interest-bearing current liabilities 291.2 146.2 VAT, taxes and government fees 667.3 546.8 Provisions 212.4 177.1 Other current liabilities 1,838.4 1,687.4 Other financial liabilities 13.2 0.5 Current liabilities 7,703.5 6,405.4 Total liabilities 9,074.5 7,654.6 Total equity and liabilities 12,623.7 11,187.4

Full-time employees - Group Net committed workforce 31 Dec 2014 31 Dec 2013 Norway 1,637 1,612 Sweden 1,870 1,865 Denmark 1,537 1,364 Finland 326 354 Baltics 563 565 Logistics 238 211 Atea Global Services 321 298 Atea ASA 12 11 Atea Group 6,504 6,280

Financial performance actual Segment (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Norway 1,435.2 1,555.4 1,498.2 2,080.7 1,569.6 1,614.6 1,513.9 2,108.3 Sweden 1,784.5 2,128.6 1,589.5 2,447.7 2,137.6 2,332.6 1,764.7 2,657.9 Denmark 1,331.7 1,354.7 1,169.4 1,748.9 1,548.3 1,487.6 1,424.4 2,043.2 Finland 423.9 340.7 261.4 370.0 492.3 422.2 318.6 474.1 The Baltics 142.7 155.4 166.6 213.0 167.6 160.0 173.5 289.9 Group Shared Services 929.2 785.8 1,000.6 1,128.6 1,032.5 973.2 1,144.1 1,117.4 Eliminations -962.5-820.8-1,022.2-1,147.4-1,063.6-1,009.2-1,166.0-1,141.9 Other income 0.0 1.8 0.1 4.1 0.1 0.1 0.1 0.3 Operating revenues group total 5,084.8 5,501.8 4,663.6 6,845.6 5,884.4 5,981.2 5,173.5 7,549.3 Norway 15.7 32.4 26.2 62.1 21.1 48.8 39.1 94.6 Sweden 35.9 31.8 18.3 49.1 40.3 38.1 30.0 82.0 Denmark 23.8-0.9 20.2 60.8 35.7 7.7 45.3 103.9 Finland 0.6-0.6-2.2-10.8 0.9 1.8 1.7 10.6 The Baltics -0.8 2.7 6.7 8.4 0.0-0.7 1.3 6.8 Group Shared Services 5.2 3.5 10.0 6.5 7.1 5.9 11.3 4.7 Operating profit/loss before group cost (EBIT) 80.3 68.9 79.2 176.1 105.2 101.5 128.8 302.5 Group cost -11.7-15.7-8.4-13.8-14.8-12.3-11.5-15.6 Operating profit/loss (EBIT) 68.6 53.2 70.8 162.3 90.4 89.2 117.3 286.9 Net finance -9.7-10.6-13.4-13.1-9.8-26.4-16.2-20.9 Profit/loss before taxes for continued operations (EBT) 58.9 42.6 57.4 149.1 80.7 62.8 101.1 266.0 Taxes on continued operations 5.8 4.0 5.9-48.8 10.0 8.1 13.4 50.1 Profit/loss for the period 53.2 38.6 51.5 198.0 70.7 54.8 87.7 215.8 Shareholders 52.2 38.4 51.0 197.4 70.7 54.8 87.7 215.8 Non-controlling ownership interests 1.0 0.2 0.5 0.6 0.0 0.0 0.0 0.0

Financial performance proforma Segment (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Norway 1,503.5 1,616.2 1,551.8 2,156.9 1,642.3 1,684.1 1,570.4 2,192.5 Sweden 1,801.7 2,128.8 1,589.7 2,447.8 2,137.6 2,332.6 1,764.7 2,657.9 Denmark 1,416.1 1,465.1 1,275.5 1,989.8 1,672.6 1,655.4 1,558.2 2,198.2 Finland 437.7 356.9 273.9 390.0 509.6 422.0 318.6 474.3 The Baltics 145.7 158.2 170.7 217.7 167.6 160.0 173.5 289.9 Group Shared Services 929.2 785.8 1,000.6 1,128.6 1,034.4 973.2 1,144.1 1,117.4 Eliminations -962.5-820.8-1,022.2-1,147.4-1,065.5-1,009.2-1,165.9-1,141.9 Other income 0.1 1.8 0.1 4.1 0.1 0.1 0.1 0.3 Operating revenues group total 5,271.4 5,692.0 4,840.1 7,187.6 6,098.8 6,218.3 5,363.8 7,788.5 Norway 15.1 34.0 31.2 67.1 25.0 54.1 38.7 94.1 Sweden 35.8 31.8 18.3 49.1 40.3 38.1 30.0 82.0 Denmark 22.2-7.5 13.7 86.6 40.9 18.4 44.6 127.1 Finland -0.3-0.7-2.4-10.4 0.2 1.8 1.7 10.6 The Baltics -1.0 2.8 7.2 8.9 0.0-0.7 1.3 6.8 Group Shared Services 5.2 3.5 10.0 6.5 7.1 5.9 11.3 4.7 Operating profit/loss before group cost (EBIT) 77.0 63.9 77.9 207.8 113.7 117.5 127.6 325.3 Group cost -11.7-15.7-8.4-13.8-14.8-12.3-11.5-15.6 Operating profit/loss (EBIT) 65.3 48.2 69.6 193.9 98.9 105.2 116.1 309.6

Income statement actual - Group (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 2,868.5 2,757.6 2,929.3 3,908.0 3,283.1 3,030.7 3,430.4 4,467.5 Total software revenue 1,107.3 1,530.3 661.5 1,552.6 1,347.3 1,728.6 650.7 1,637.6 Products revenue 3,975.7 4,287.9 3,590.8 5,460.6 4,630.4 4,759.3 4,081.1 6,105.1 Total services revenue 1,109.0 1,212.1 1,072.8 1,381.0 1,254.0 1,221.8 1,092.2 1,443.9 Total other income 0.0 1.8 0.1 4.1 0.1 0.1 0.1 0.3 Revenue 5,084.8 5,501.8 4,663.6 6,845.6 5,884.4 5,981.2 5,173.5 7,549.3 Margin 1,259.2 1,325.1 1,190.0 1,545.4 1,377.3 1,378.3 1,272.7 1,688.6 Product margin (%) 12.3% 11.7% 12.8% 11.5% 12.0% 12.0% 13.4% 12.5% Total services margin (%) 69.3% 67.7% 68.1% 66.0% 65.7% 66.1% 66.5% 64.0% Total products and services margin (%) 24.8% 24.1% 25.5% 22.6% 23.4% 23.0% 24.6% 22.4% Personnel costs 936.7 996.4 856.2 977.1 1,005.4 1,008.5 889.5 1,061.3 Other operating expenses 181.7 188.3 175.4 207.6 191.4 192.7 178.0 231.7 EBITDA (adjusted) 140.8 140.4 158.4 360.6 180.5 177.0 205.2 395.6 EBITDA margin before share based compensation (%) 2.8% 2.6% 3.4% 5.3% 3.1% 3.0% 4.0% 5.2% Restructuring costs 0.0 0.0 0.0 76.5 0.0 0.0 0.0 0.0 Acqusition costs -1.5 4.2-0.6 3.9-1.5 0.0 0.1 2.2 Share based compensation 2.1 4.8 5.4 5.0 7.1 7.2 6.5 7.3 EBITDA 140.3 131.4 153.6 275.3 174.8 169.8 198.7 386.0 Depreciation 71.6 78.2 82.8 113.0 84.4 80.6 81.4 99.1 Operating profit/loss 68.6 53.2 70.8 162.3 90.4 89.2 117.3 286.9

Income statement proforma - Group (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 2,994.9 2,898.2 3,059.1 4,168.3 3,434.4 3,205.1 3,563.5 4,636.5 Total software revenue 1,111.5 1,533.4 663.6 1,556.5 1,349.7 1,728.6 650.7 1,637.6 Products revenue 4,106.4 4,431.6 3,722.7 5,724.9 4,784.1 4,933.7 4,214.2 6,274.1 Total services revenue 1,165.0 1,258.6 1,117.3 1,458.7 1,314.6 1,284.5 1,149.4 1,514.1 Total other income 0.1 1.8 0.1 4.1 0.1 0.1 0.1 0.3 Revenue 5,271.4 5,692.0 4,840.1 7,187.6 6,098.8 6,218.3 5,363.8 7,788.5 Margin 1,322.1 1,374.7 1,243.2 1,639.9 1,446.7 1,450.0 1,333.0 1,759.1 Product margin (%) 12.5% 11.7% 13.0% 11.7% 12.1% 12.1% 13.5% 12.6% Total services margin (%) 69.4% 67.7% 68.0% 66.1% 65.8% 66.4% 66.6% 64.0% Total products and services margin (%) 25.1% 24.2% 25.7% 22.8% 23.7% 23.3% 24.9% 22.6% Personnel costs 988.1 1,037.2 898.9 1,026.3 1,053.5 1,052.8 938.1 1,097.1 Other operating expenses 194.6 200.1 185.3 219.5 202.3 201.5 188.8 242.9 EBITDA (adjusted) 139.4 137.4 159.0 394.1 190.9 195.6 206.0 419.0 EBITDA margin before share based compensation (%) 2.6% 2.4% 3.3% 5.5% 3.1% 3.1% 3.8% 5.4% Restructuring costs 0.0 0.0 0.0 76.5 0.0 0.0 0.0 0.0 Acqusition costs -1.5 4.2-0.6 3.9-1.5 0.0 0.1 2.2 Share based compensation 2.1 4.8 5.4 5.0 7.1 7.2 6.5 7.3 EBITDA 138.8 128.3 154.2 308.8 185.3 188.4 199.5 409.4 Depreciation 73.5 80.1 84.6 114.8 86.4 83.2 83.4 99.8 Operating profit/loss 65.3 48.2 69.6 193.9 98.9 105.2 116.1 309.6

Income statement actual Norway (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 783.2 896.0 947.3 1,287.8 925.4 910.5 998.2 1,210.1 Total software revenue 256.7 248.1 201.1 366.2 257.2 312.3 168.3 455.2 Products revenue 1,039.9 1,144.2 1,148.4 1,654.0 1,182.6 1,222.8 1,166.4 1,665.3 Total services revenue 395.3 411.2 349.8 426.7 387.0 391.8 347.4 443.1 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 1,435.2 1,555.4 1,498.2 2,080.7 1,569.6 1,614.6 1,513.9 2,108.3 Margin 425.0 443.8 388.4 495.0 429.4 442.9 397.3 534.0 Product margin (%) 14.5% 13.4% 13.3% 12.3% 14.2% 13.9% 14.1% 13.9% Total services margin (%) 69.4% 70.6% 67.4% 68.4% 67.7% 69.8% 66.9% 68.3% Total products and services margin (%) 29.6% 28.5% 25.9% 23.8% 27.4% 27.4% 26.2% 25.3% Personnel costs 327.4 322.7 279.0 304.0 319.7 306.9 277.0 339.3 Other operating expenses 64.3 69.0 63.9 73.2 71.0 69.9 63.0 81.3 EBITDA (adjusted) 33.3 52.1 45.5 117.8 38.6 66.1 57.4 113.4 EBITDA margin before share based compensation (%) 2.3% 3.3% 3.0% 5.7% 2.5% 4.1% 3.8% 5.4% Restructuring costs 0.0 0.0 0.0 35.0 0.0 0.0 0.0 0.0 Acqusition costs 0.3 0.4 0.0 0.0 0.0 0.0 0.0 0.1 Share based compensation 0.2 1.2 1.4 0.4 1.2 1.0 1.6 0.6 EBITDA 32.8 50.4 44.0 82.4 37.5 65.1 55.7 112.7 Depreciation 17.1 18.0 17.8 20.3 16.4 16.4 16.6 18.2 Operating profit/loss 15.7 32.4 26.2 62.1 21.1 48.8 39.1 94.6

Income statement proforma Norway (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 845.7 953.7 998.7 1,361.3 994.8 976.7 1,051.7 1,294.2 Total software revenue 256.7 248.1 201.1 366.2 257.2 312.3 168.3 455.2 Products revenue 1,102.4 1,201.8 1,199.8 1,727.5 1,252.1 1,289.0 1,220.0 1,749.4 Total services revenue 401.1 414.4 352.0 429.4 390.3 395.1 350.4 443.1 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 1,503.5 1,616.2 1,551.8 2,156.9 1,642.3 1,684.1 1,570.4 2,192.5 Margin 441.0 456.5 404.5 513.9 447.3 460.0 411.5 549.2 Product margin (%) 14.8% 13.6% 13.9% 12.7% 14.5% 14.2% 14.4% 14.1% Total services margin (%) 69.3% 70.8% 67.6% 68.6% 67.9% 70.0% 67.2% 68.3% Total products and services margin (%) 29.3% 28.2% 26.1% 23.8% 27.2% 27.3% 26.2% 25.0% Personnel costs 339.3 329.1 287.4 314.0 329.9 314.8 287.7 349.4 Other operating expenses 68.9 73.6 66.7 76.9 74.7 73.7 66.7 86.8 EBITDA (adjusted) 32.7 53.7 50.5 122.9 42.6 71.5 57.0 113.0 EBITDA margin before share based compensation (%) 2.2% 3.3% 3.3% 5.7% 2.6% 4.2% 3.6% 5.2% Restructuring costs 0.0 0.0 0.0 35.0 0.0 0.0 0.0 0.0 Acqusition costs 0.3 0.4 0.0 0.0 0.0 0.0 0.0 0.1 Share based compensation 0.2 1.2 1.4 0.4 1.2 1.0 1.6 0.6 EBITDA 32.3 52.1 49.0 87.5 41.5 70.5 55.4 112.3 Depreciation 17.2 18.1 17.9 20.4 16.4 16.4 16.7 18.2 Operating profit/loss 15.1 34.0 31.2 67.1 25.0 54.1 38.7 94.1

Income statement actual Denmark (DKK million) (amounts in DKK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 819.5 700.4 702.2 977.4 850.0 740.5 869.4 1,130.6 Total software revenue 223.9 320.0 109.5 275.6 223.3 305.7 123.5 286.6 Products revenue 1,043.4 1,020.4 811.7 1,253.0 1,073.3 1,046.2 992.9 1,417.2 Total services revenue 293.3 305.8 279.8 347.7 310.9 306.9 289.9 365.8 Total other income 0.0 0.1 0.0 3.8 0.0 0.0 0.0 0.0 Revenue 1,336.7 1,326.3 1,091.4 1,604.5 1,384.3 1,353.0 1,282.8 1,783.0 Margin 300.2 297.9 281.3 350.0 301.0 289.8 286.8 378.7 Product margin (%) 10.4% 9.8% 11.6% 10.2% 9.6% 8.9% 9.4% 9.8% Total services margin (%) 65.5% 64.8% 67.0% 62.8% 63.5% 64.1% 66.7% 65.6% Total products and services margin (%) 22.5% 22.5% 25.8% 21.8% 21.7% 21.4% 22.4% 21.2% Personnel costs 200.1 220.4 181.0 176.4 191.9 207.8 169.8 194.3 Other operating expenses 43.5 42.3 41.7 45.9 40.4 39.4 39.9 46.1 EBITDA (adjusted) 56.6 35.2 58.6 127.7 68.6 42.5 77.1 138.3 EBITDA margin before share based compensation (%) 4.2% 2.7% 5.4% 8.0% 5.0% 3.1% 6.0% 7.8% Restructuring costs 0.0 0.0 0.0 11.4 0.0 0.0 0.0 0.0 Acqusition costs -2.3-1.5 0.0 3.8 0.0 0.0 0.0 1.9 Share based compensation 0.2 0.8 0.8 1.0 0.7 0.9 0.7 0.6 EBITDA 58.7 35.9 57.8 111.6 67.9 41.6 76.4 135.8 Depreciation 34.8 37.0 38.6 54.3 36.0 34.4 35.6 43.9 Operating profit/loss 23.9-1.1 19.2 57.3 31.9 7.2 40.8 91.9

Income statement proforma Denmark (DKK million) (amounts in DKK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 866.0 768.4 764.2 1,135.1 911.7 838.7 941.1 1,203.9 Total software revenue 223.9 320.0 109.5 275.6 223.3 305.7 123.5 286.6 Products revenue 1,089.9 1,088.4 873.6 1,410.7 1,135.0 1,144.4 1,064.6 1,490.5 Total services revenue 331.6 346.2 317.7 414.7 360.4 360.8 338.7 426.9 Total other income 0.0 0.1 0.0 3.8 0.0 0.0 0.0 0.0 Revenue 1,421.5 1,434.6 1,191.3 1,829.2 1,495.4 1,505.2 1,403.3 1,917.4 Margin 333.1 330.1 312.8 415.4 344.5 339.5 328.3 426.7 Product margin (%) 10.6% 9.6% 11.6% 10.5% 10.0% 9.1% 9.6% 9.9% Total services margin (%) 65.5% 65.0% 66.7% 63.5% 64.1% 65.1% 66.8% 65.3% Total products and services margin (%) 23.4% 23.0% 26.3% 22.7% 23.0% 22.6% 23.4% 22.3% Personnel costs 228.0 251.7 211.6 209.4 223.8 240.9 203.9 216.3 Other operating expenses 48.9 48.2 47.3 52.0 45.9 44.0 46.3 51.0 EBITDA (adjusted) 56.2 30.2 53.9 154.0 74.9 54.5 78.2 159.4 EBITDA margin before share based compensation (%) 4.0% 2.1% 4.5% 8.4% 5.0% 3.6% 5.6% 8.3% Restructuring costs 0.0 0.0 0.0 11.4 0.0 0.0 0.0 0.0 Acqusition costs -2.3-1.5 0.0 3.8 0.0 0.0 0.0 1.9 Share based compensation 0.2 0.8 0.8 1.0 0.7 0.9 0.7 0.6 EBITDA 58.3 31.0 53.1 137.8 74.2 53.6 77.4 156.8 Depreciation 36.0 38.7 40.0 55.6 37.6 36.7 37.3 44.3 Operating profit/loss 22.3-7.7 13.1 82.2 36.6 16.9 40.1 112.5

Income statement actual Denmark (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 816.4 716.9 748.8 1,066.5 950.7 813.3 965.2 1,294.6 Total software revenue 223.0 325.6 122.3 301.3 249.8 336.9 137.3 328.5 Products revenue 1,039.5 1,042.5 871.2 1,367.8 1,200.5 1,150.2 1,102.5 1,623.1 Total services revenue 292.2 312.2 298.2 381.2 347.8 337.4 321.9 420.1 Total other income 0.0 0.1 0.0 3.9 0.0 0.0 0.0 0.0 Revenue 1,331.7 1,354.8 1,169.4 1,752.9 1,548.3 1,487.6 1,424.4 2,043.2 Margin 299.1 304.3 299.8 383.6 336.6 318.6 318.4 434.3 Product margin (%) 10.4% 9.8% 11.5% 10.2% 9.6% 8.9% 9.4% 9.8% Total services margin (%) 65.5% 64.8% 67.0% 63.0% 63.5% 64.1% 66.7% 65.6% Total products and services margin (%) 22.5% 22.5% 25.6% 21.9% 21.7% 21.4% 22.4% 21.3% Personnel costs 199.4 224.8 193.6 196.4 214.7 228.7 188.6 224.1 Other operating expenses 43.4 43.3 44.3 50.5 45.2 43.4 44.3 53.1 EBITDA (adjusted) 56.4 36.2 61.9 136.6 76.7 46.5 85.6 157.1 EBITDA margin before share based compensation (%) 4.2% 2.7% 5.3% 7.8% 5.0% 3.1% 6.0% 7.7% Restructuring costs 0.0 0.0 0.0 12.0 0.0 0.0 0.0 0.0 Acqusition costs -2.2-1.5-0.1 3.9 0.0 0.0 0.0 2.1 Share based compensation 0.2 0.8 0.9 1.1 0.8 1.0 0.8 0.7 EBITDA 58.4 37.0 61.1 119.8 76.0 45.5 84.8 154.2 Depreciation 34.6 37.8 40.9 59.0 40.2 37.8 39.5 50.4 Operating profit/loss 23.8-0.9 20.2 60.8 35.7 7.7 45.3 103.9

Income statement proforma Denmark (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 862.7 786.1 814.5 1,235.0 1,019.7 921.6 1,044.8 1,379.4 Total software revenue 223.0 325.6 122.3 301.3 249.8 336.9 137.3 328.5 Products revenue 1,085.8 1,111.7 936.9 1,536.3 1,269.5 1,258.6 1,182.1 1,707.9 Total services revenue 330.3 353.5 338.6 453.5 403.1 396.8 376.1 490.3 Total other income 0.0 0.1 0.0 3.9 0.0 0.0 0.0 0.0 Revenue 1,416.1 1,465.2 1,275.5 1,993.7 1,672.6 1,655.4 1,558.2 2,198.2 Margin 331.8 337.2 333.4 453.9 385.4 373.3 364.5 489.5 Product margin (%) 10.6% 9.7% 11.5% 10.5% 10.0% 9.1% 9.6% 9.9% Total services margin (%) 65.5% 65.0% 66.6% 63.6% 64.1% 65.1% 66.8% 65.3% Total products and services margin (%) 23.4% 23.0% 26.1% 22.8% 23.0% 22.5% 23.4% 22.3% Personnel costs 227.2 256.8 226.1 232.7 250.3 265.1 226.4 249.9 Other operating expenses 48.7 49.2 50.3 57.2 51.3 48.4 51.4 58.7 EBITDA (adjusted) 55.9 31.2 57.0 163.9 83.7 59.8 86.8 180.9 EBITDA margin before share based compensation (%) 4.0% 2.1% 4.5% 8.2% 5.0% 3.6% 5.6% 8.2% Restructuring costs 0.0 0.0 0.0 12.0 0.0 0.0 0.0 0.0 Acqusition costs -2.2-1.5-0.1 3.9 0.0 0.0 0.0 2.1 Share based compensation 0.2 0.8 0.9 1.1 0.8 1.0 0.8 0.7 EBITDA 58.0 32.0 56.2 147.0 82.9 58.8 86.0 178.0 Depreciation 35.8 39.5 42.5 60.5 42.0 40.4 41.4 50.9 Operating profit/loss 22.2-7.5 13.7 86.6 40.9 18.4 44.6 127.1

Income statement actual Sweden (SEK million) (amounts in SEK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 1,169.7 1,007.7 1,069.5 1,320.1 1,184.4 1,107.8 1,269.1 1,616.5 Total software revenue 440.2 912.2 261.3 784.6 596.3 975.8 290.7 717.0 Products revenue 1,609.9 1,919.9 1,330.8 2,104.6 1,780.7 2,083.6 1,559.9 2,333.5 Total services revenue 429.4 477.6 397.3 544.7 487.8 482.6 412.1 540.7 Total other income 0.0 1.9 0.0 0.0 0.0 0.0 0.0 0.1 Revenue 2,039.2 2,399.4 1,728.1 2,649.3 2,268.5 2,566.2 1,972.0 2,874.3 Margin 456.1 499.8 401.5 551.3 491.9 519.9 461.3 578.5 Product margin (%) 12.4% 11.4% 12.7% 11.5% 11.3% 11.7% 14.4% 12.4% Total services margin (%) 59.8% 58.6% 58.7% 56.8% 59.4% 57.4% 57.6% 53.6% Total products and services margin (%) 22.4% 20.8% 23.2% 20.8% 21.7% 20.3% 23.4% 20.1% Personnel costs 344.9 384.2 311.7 383.8 365.9 390.9 349.2 386.5 Other operating expenses 58.0 65.2 55.0 66.3 63.5 67.7 60.9 82.8 EBITDA (adjusted) 53.2 50.4 34.9 101.1 62.4 61.3 51.2 109.2 EBITDA margin before share based compensation (%) 2.6% 2.1% 2.0% 3.8% 2.8% 2.4% 2.6% 3.8% Restructuring costs 0.0 0.0 0.0 22.8 0.0 0.0 0.0 0.0 Acqusition costs 0.4 0.8 0.0 0.0 0.0 0.0 0.0 0.0 Share based compensation 0.4 1.3 1.7 1.2 2.1 2.0 1.6 1.0 EBITDA 52.4 48.3 33.2 77.1 60.3 59.3 49.6 108.3 Depreciation 11.4 12.6 13.6 23.7 17.5 17.2 16.1 19.3 Operating profit/loss 41.0 35.7 19.5 53.5 42.8 42.0 33.5 88.9

Income statement proforma Sweden (SEK million) (amounts in SEK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 1,175.6 1,007.7 1,069.5 1,320.1 1,184.4 1,107.8 1,269.1 1,616.5 Total software revenue 442.2 912.2 261.3 784.6 596.3 975.8 290.7 717.0 Products revenue 1,617.8 1,919.9 1,330.8 2,104.6 1,780.7 2,083.6 1,559.9 2,333.5 Total services revenue 441.1 477.6 397.3 544.7 487.8 482.6 412.1 540.7 Total other income 0.0 1.9 0.0 0.0 0.0 0.0 0.0 0.1 Revenue 2,058.9 2,399.4 1,728.1 2,649.3 2,268.5 2,566.2 1,972.0 2,874.3 Margin 468.2 499.8 401.5 551.3 491.9 519.9 461.3 578.5 Product margin (%) 12.4% 11.4% 12.7% 11.5% 11.3% 11.7% 14.4% 12.4% Total services margin (%) 60.8% 58.6% 58.7% 56.8% 59.4% 57.4% 57.6% 53.6% Total products and services margin (%) 22.7% 20.8% 23.2% 20.8% 21.7% 20.3% 23.4% 20.1% Personnel costs 355.2 384.2 311.7 383.8 365.9 390.9 349.2 386.5 Other operating expenses 59.6 65.2 55.0 66.3 63.5 67.7 60.9 82.8 EBITDA (adjusted) 53.4 50.4 34.9 101.1 62.4 61.3 51.2 109.2 EBITDA margin before share based compensation (%) 2.6% 2.1% 2.0% 3.8% 2.8% 2.4% 2.6% 3.8% Restructuring costs 0.0 0.0 0.0 22.8 0.0 0.0 0.0 0.0 Acqusition costs 0.4 0.8 0.0 0.0 0.0 0.0 0.0 0.0 Share based compensation 0.4 1.3 1.7 1.2 2.1 2.0 1.6 1.0 EBITDA 52.6 48.3 33.2 77.1 60.3 59.3 49.6 108.3 Depreciation 11.7 12.6 13.6 23.7 17.5 17.2 16.1 19.3 Operating profit/loss 40.9 35.7 19.5 53.5 42.8 42.0 33.5 88.9

Income statement actual Sweden (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 1,023.6 896.9 977.8 1,221.2 1,116.1 1,003.3 1,142.8 1,494.2 Total software revenue 385.2 807.6 247.6 722.9 561.9 891.7 252.8 663.5 Products revenue 1,408.8 1,704.5 1,225.3 1,944.1 1,678.0 1,895.0 1,395.6 2,157.6 Total services revenue 375.7 424.2 364.2 503.6 459.6 437.6 369.1 500.3 Total other income 0.0 1.7 0.0 0.0 0.0 0.0 0.0 0.1 Revenue 1,784.5 2,130.3 1,589.5 2,447.7 2,137.6 2,332.6 1,764.7 2,658.0 Margin 399.1 444.0 368.5 510.0 463.5 472.0 413.9 535.3 Product margin (%) 12.4% 11.4% 12.6% 11.5% 11.3% 11.7% 14.4% 12.4% Total services margin (%) 59.8% 58.6% 58.7% 56.9% 59.4% 57.4% 57.6% 53.7% Total products and services margin (%) 22.4% 20.8% 23.2% 20.8% 21.7% 20.2% 23.5% 20.1% Personnel costs 301.9 341.2 285.9 356.0 344.8 355.0 313.4 357.9 Other operating expenses 50.7 57.9 50.4 61.5 59.9 61.5 54.6 76.5 EBITDA (adjusted) 46.5 44.8 32.2 92.5 58.8 55.5 45.8 100.8 EBITDA margin before share based compensation (%) 2.6% 2.1% 2.0% 3.8% 2.8% 2.4% 2.6% 3.8% Restructuring costs 0.0 0.0 0.0 20.5 0.0 0.0 0.0 0.0 Acqusition costs 0.3 0.7 0.0 0.0 0.0 0.0 0.0 0.0 Share based compensation 0.3 1.2 1.5 1.1 2.0 1.8 1.5 0.9 EBITDA 45.9 42.9 30.7 70.8 56.8 53.7 44.4 99.9 Depreciation 10.0 11.2 12.4 21.7 16.5 15.6 14.4 17.9 Operating profit/loss 35.9 31.8 18.3 49.1 40.3 38.1 30.0 82.0

Income statement proforma Sweden (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 1,028.8 896.9 977.8 1,221.3 1,116.1 1,003.3 1,142.8 1,494.2 Total software revenue 387.0 807.6 247.6 722.9 561.9 891.7 252.8 663.5 Products revenue 1,415.7 1,704.5 1,225.4 1,944.2 1,678.0 1,895.0 1,395.6 2,157.6 Total services revenue 386.0 424.3 364.3 503.7 459.6 437.6 369.1 500.3 Total other income 0.0 1.7 0.0 0.0 0.0 0.0 0.0 0.1 Revenue 1,801.7 2,130.5 1,589.7 2,447.9 2,137.6 2,332.6 1,764.7 2,658.0 Margin 409.7 444.0 368.7 510.1 463.5 472.0 413.9 535.3 Product margin (%) 12.4% 11.4% 12.6% 11.5% 11.3% 11.7% 14.4% 12.4% Total services margin (%) 60.8% 58.6% 58.7% 56.9% 59.4% 57.4% 57.6% 53.7% Total products and services margin (%) 22.7% 20.8% 23.2% 20.8% 21.7% 20.2% 23.5% 20.1% Personnel costs 310.9 341.3 286.0 356.1 344.8 355.0 313.4 357.9 Other operating expenses 52.1 57.9 50.4 61.5 59.9 61.5 54.6 76.5 EBITDA (adjusted) 46.7 44.8 32.2 92.5 58.8 55.5 45.8 100.8 EBITDA margin before share based compensation (%) 2.6% 2.1% 2.0% 3.8% 2.8% 2.4% 2.6% 3.8% Restructuring costs 0.0 0.0 0.0 20.5 0.0 0.0 0.0 0.0 Acqusition costs 0.3 0.7 0.0 0.0 0.0 0.0 0.0 0.0 Share based compensation 0.3 1.2 1.5 1.1 2.0 1.8 1.5 0.9 EBITDA 46.0 42.9 30.7 70.8 56.8 53.7 44.4 99.9 Depreciation 10.2 11.2 12.4 21.7 16.5 15.6 14.4 17.9 Operating profit/loss 35.8 31.8 18.3 49.1 40.3 38.1 30.0 82.0

Income statement actual Finland (EUR million) (amounts in EUR million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 20.6 20.1 18.3 23.1 21.0 24.4 24.3 29.5 Total software revenue 31.6 19.2 9.2 15.9 32.4 21.6 9.2 19.6 Products revenue 52.2 39.3 27.5 39.0 53.4 45.9 33.5 49.2 Total services revenue 4.9 5.3 4.8 5.9 5.5 5.6 5.1 6.2 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 57.1 44.6 32.3 44.9 59.0 51.5 38.5 55.3 Margin 8.6 7.6 6.8 7.3 8.1 8.0 7.6 10.1 Product margin (%) 9.1% 9.4% 12.6% 8.9% 7.9% 9.2% 12.2% 11.6% Total services margin (%) 78.4% 73.8% 69.3% 64.3% 70.1% 67.6% 70.3% 71.5% Total products and services margin (%) 15.1% 17.1% 20.9% 16.2% 13.8% 15.5% 19.8% 18.2% Personnel costs 6.0 5.4 4.9 5.7 6.0 5.5 5.2 6.2 Other operating expenses 2.0 1.7 1.7 1.9 1.8 1.9 1.9 2.2 EBITDA (adjusted) 0.7 0.5 0.2-0.3 0.4 0.6 0.6 1.6 EBITDA margin before share based compensation (%) 1.2% 1.1% 0.5% -0.7% 0.6% 1.1% 1.5% 3.0% Restructuring costs 0.0 0.0 0.0 0.6 0.0 0.0 0.0 0.0 Acqusition costs 0.0 0.0-0.1 0.0-0.2 0.0 0.0 0.0 Share based compensation 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 EBITDA 0.6 0.5 0.2-0.9 0.5 0.6 0.5 1.6 Depreciation 0.6 0.6 0.5 0.4 0.4 0.3 0.3 0.4 Operating profit/loss 0.1-0.1-0.3-1.4 0.1 0.2 0.2 1.3

Income statement proforma Finland (EUR million) (amounts in EUR million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 21.9 21.6 19.4 24.8 22.6 24.4 24.3 29.5 Total software revenue 31.9 19.6 9.5 16.3 32.7 21.6 9.2 19.6 Products revenue 53.8 41.1 28.9 41.1 55.3 45.9 33.5 49.2 Total services revenue 5.1 5.6 5.0 6.2 5.8 5.6 5.1 6.2 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 58.9 46.7 33.9 47.4 61.1 51.5 38.5 55.3 Margin 9.0 8.0 7.0 7.7 8.5 8.0 7.6 10.1 Product margin (%) 9.2% 9.6% 12.6% 9.0% 8.0% 9.2% 12.2% 11.6% Total services margin (%) 78.3% 73.5% 68.7% 64.6% 70.0% 67.6% 70.3% 71.5% Total products and services margin (%) 15.2% 17.2% 20.8% 16.3% 13.9% 15.5% 19.8% 18.2% Personnel costs 6.3 5.7 5.1 6.0 6.3 5.5 5.2 6.2 Other operating expenses 2.1 1.8 1.8 2.0 1.9 1.9 1.9 2.2 EBITDA (adjusted) 0.6 0.5 0.1-0.3 0.3 0.6 0.6 1.6 EBITDA margin before share based compensation (%) 1.0% 1.1% 0.4% -0.6% 0.5% 1.1% 1.5% 3.0% Restructuring costs 0.0 0.0 0.0 0.6 0.0 0.0 0.0 0.0 Acqusition costs 0.0 0.0-0.1 0.0-0.2 0.0 0.0 0.0 Share based compensation 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 EBITDA 0.6 0.5 0.2-0.9 0.4 0.6 0.5 1.6 Depreciation 0.6 0.6 0.5 0.4 0.4 0.3 0.3 0.4 Operating profit/loss 0.0-0.1-0.3-1.3 0.0 0.2 0.2 1.3

Income statement actual Finland (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 153.0 153.3 145.9 189.0 175.5 200.2 201.0 252.3 Total software revenue 234.4 147.1 77.5 132.5 270.5 176.3 75.7 169.0 Products revenue 387.5 300.4 223.5 321.5 446.0 376.5 276.7 421.3 Total services revenue 36.4 40.4 37.9 48.5 46.3 45.7 41.8 52.8 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 423.9 340.7 261.4 370.0 492.3 422.2 318.6 474.1 Margin 64.0 58.2 54.0 60.1 67.8 65.6 63.0 86.2 Product margin (%) 9.1% 9.4% 12.4% 8.9% 7.9% 9.2% 12.2% 11.5% Total services margin (%) 78.4% 73.8% 69.6% 64.8% 70.1% 67.6% 70.3% 71.5% Total products and services margin (%) 15.1% 17.1% 20.7% 16.2% 13.8% 15.5% 19.8% 18.2% Personnel costs 44.5 41.2 39.4 47.1 50.0 45.4 42.7 53.3 Other operating expenses 14.6 13.0 13.3 15.3 14.8 15.5 15.7 19.1 EBITDA (adjusted) 4.9 3.9 1.3-2.4 3.0 4.7 4.6 13.8 EBITDA margin before share based compensation (%) 1.2% 1.1% 0.5% -0.6% 0.6% 1.1% 1.5% 2.9% Restructuring costs 0.0 0.0 0.0 4.5 0.0 0.0 0.0 0.0 Acqusition costs 0.0 0.0-0.6 0.0-1.5 0.0 0.1 0.0 Share based compensation 0.1 0.2 0.1 0.3 0.3 0.1 0.2 0.2 EBITDA 4.8 3.7 1.9-7.2 4.2 4.5 4.4 13.7 Depreciation 4.2 4.4 4.1 3.6 3.3 2.8 2.7 3.1 Operating profit/loss 0.6-0.6-2.2-10.8 0.9 1.8 1.7 10.6

Income statement proforma Finland (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 162.7 164.3 154.8 202.9 188.3 200.1 201.0 252.5 Total software revenue 237.0 150.1 79.7 136.4 273.0 176.3 75.7 169.0 Products revenue 399.6 314.5 234.5 339.3 461.3 376.3 276.7 421.5 Total services revenue 38.0 42.4 39.4 50.7 48.3 45.7 41.8 52.9 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 437.7 356.9 273.9 390.0 509.6 422.0 318.6 474.3 Margin 66.5 61.4 56.3 63.8 70.6 65.6 63.0 86.3 Product margin (%) 9.2% 9.6% 12.4% 9.1% 8.0% 9.2% 12.2% 11.5% Total services margin (%) 78.3% 73.6% 69.0% 65.0% 70.0% 67.6% 70.3% 71.5% Total products and services margin (%) 15.2% 17.2% 20.6% 16.4% 13.9% 15.5% 19.8% 18.2% Personnel costs 46.8 43.3 40.9 49.4 52.3 45.4 42.7 53.3 Other operating expenses 15.5 14.0 14.2 16.3 15.9 15.5 15.7 19.1 EBITDA (adjusted) 4.2 4.0 1.3-1.9 2.4 4.7 4.6 13.8 EBITDA margin before share based compensation (%) 1.0% 1.1% 0.5% -0.5% 0.5% 1.1% 1.5% 2.9% Restructuring costs 0.0 0.0 0.0 4.5 0.0 0.0 0.0 0.0 Acqusition costs 0.0 0.0-0.6 0.0-1.5 0.0 0.1 0.0 Share based compensation 0.1 0.2 0.1 0.3 0.3 0.1 0.2 0.2 EBITDA 4.1 3.8 1.8-6.7 3.6 4.5 4.4 13.7 Depreciation 4.4 4.5 4.2 3.7 3.4 2.8 2.7 3.1 Operating profit/loss -0.3-0.7-2.4-10.4 0.2 1.8 1.7 10.6

Income statement actual the Baltics (EUR million) (amounts in EUR million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 12.3 13.1 13.7 17.8 12.5 12.1 13.7 24.6 Total software revenue 3.6 2.1 2.6 3.4 3.9 3.3 3.1 3.5 Products revenue 15.9 15.2 16.2 21.2 16.4 15.4 16.9 28.1 Total services revenue 3.4 5.2 4.8 4.9 3.7 4.1 4.1 6.0 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 19.2 20.4 21.1 26.2 20.1 19.5 21.0 34.1 Margin 4.0 4.7 5.0 6.2 4.4 4.3 4.2 6.4 Product margin (%) 12.3% 15.5% 13.0% 14.4% 13.4% 12.5% 12.3% 12.6% Total services margin (%) 61.5% 45.2% 59.7% 63.6% 59.1% 56.2% 52.2% 46.9% Total products and services margin (%) 20.9% 23.0% 23.7% 23.7% 21.8% 21.8% 20.2% 18.7% Personnel costs 2.6 2.7 2.5 3.3 2.8 2.7 2.6 3.4 Other operating expenses 0.9 0.9 0.8 1.1 0.7 0.8 0.8 1.1 EBITDA (adjusted) 0.5 1.1 1.7 1.9 0.8 0.8 0.9 1.8 EBITDA margin before share based compensation (%) 2.5% 5.4% 8.0% 7.1% 4.1% 4.0% 4.2% 5.4% Restructuring costs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Acqusition costs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Share based compensation 0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.3 EBITDA 0.5 1.0 1.6 1.8 0.7 0.6 0.9 1.6 Depreciation 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.8 Operating profit/loss -0.1 0.4 0.9 1.1 0.0-0.1 0.2 0.8

Income statement proforma the Baltics (EUR million) (amounts in EUR million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 12.7 13.5 14.1 18.4 12.5 12.1 13.7 24.6 Total software revenue 3.6 2.1 2.6 3.4 3.9 3.3 3.1 3.5 Products revenue 16.2 15.6 16.7 21.8 16.4 15.4 16.9 28.1 Total services revenue 3.4 5.2 4.9 5.0 3.7 4.1 4.1 6.0 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 19.6 20.8 21.6 26.7 20.1 19.5 21.0 34.1 Margin 4.1 4.8 5.1 6.4 4.4 4.3 4.2 6.4 Product margin (%) 12.8% 15.7% 13.2% 14.7% 13.4% 12.5% 12.3% 12.6% Total services margin (%) 61.3% 45.2% 60.1% 63.9% 59.1% 56.2% 52.2% 46.9% Total products and services margin (%) 21.1% 23.1% 23.8% 23.9% 21.8% 21.8% 20.2% 18.7% Personnel costs 2.6 2.8 2.5 3.3 2.8 2.7 2.6 3.4 Other operating expenses 1.0 0.9 0.8 1.1 0.7 0.8 0.8 1.1 EBITDA (adjusted) 0.5 1.1 1.7 1.9 0.8 0.8 0.9 1.8 EBITDA margin before share based compensation (%) 2.5% 5.4% 8.1% 7.3% 4.1% 4.0% 4.2% 5.4% Restructuring costs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Acqusition costs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Share based compensation 0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.3 EBITDA 0.5 1.1 1.7 1.9 0.7 0.6 0.9 1.6 Depreciation 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.8 Operating profit/loss -0.1 0.4 0.9 1.1 0.0-0.1 0.2 0.8

Income statement actual the Baltics (NOK million) (amounts in EUR million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 12.3 13.1 13.7 17.8 12.5 12.1 13.7 24.6 Total software revenue 3.6 2.1 2.6 3.4 3.9 3.3 3.1 3.5 Products revenue 15.9 15.2 16.2 21.2 16.4 15.4 16.9 28.1 Total services revenue 3.4 5.2 4.8 4.9 3.7 4.1 4.1 6.0 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 19.2 20.4 21.1 26.2 20.1 19.5 21.0 34.1 Margin 4.0 4.7 5.0 6.2 4.4 4.3 4.2 6.4 Product margin (%) 12.3% 15.5% 13.0% 14.4% 13.4% 12.5% 12.3% 12.6% Total services margin (%) 61.5% 45.2% 59.7% 63.6% 59.1% 56.2% 52.2% 46.9% Total products and services margin (%) 20.9% 23.0% 23.7% 23.7% 21.8% 21.8% 20.2% 18.7% Personnel costs 2.6 2.7 2.5 3.3 2.8 2.7 2.6 3.4 Other operating expenses 0.9 0.9 0.8 1.1 0.7 0.8 0.8 1.1 EBITDA (adjusted) 0.5 1.1 1.7 1.9 0.8 0.8 0.9 1.8 EBITDA margin before share based compensation (%) 2.5% 5.4% 8.0% 7.1% 4.1% 4.0% 4.2% 5.4% Restructuring costs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Acqusition costs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Share based compensation 0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.3 EBITDA 0.5 1.0 1.6 1.8 0.7 0.6 0.9 1.6 Depreciation 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.8 Operating profit/loss -0.1 0.4 0.9 1.1 0.0-0.1 0.2 0.8

Income statement proforma the Baltics (NOK million) (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 94.1 102.4 111.7 149.1 104.2 99.4 113.7 208.5 Total software revenue 26.4 16.4 20.6 27.9 32.7 26.7 25.7 30.3 Products revenue 120.5 118.8 132.4 177.0 136.9 126.0 139.4 238.8 Total services revenue 25.1 39.4 38.3 40.7 30.7 34.0 34.1 51.1 Total other income 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2 Revenue 145.7 158.2 170.8 217.8 167.7 160.2 173.7 290.1 Margin 30.8 36.5 40.5 51.9 36.6 35.0 35.1 54.4 Product margin (%) 12.8% 15.7% 13.2% 14.7% 13.4% 12.5% 12.3% 12.6% Total services margin (%) 61.3% 45.3% 59.8% 63.4% 59.1% 56.2% 52.2% 47.1% Total products and services margin (%) 21.1% 23.1% 23.7% 23.8% 21.8% 21.8% 20.2% 18.7% Personnel costs 19.5 21.0 20.3 27.1 23.4 21.9 21.1 29.3 Other operating expenses 7.6 7.1 6.7 9.1 6.2 6.7 6.8 9.6 EBITDA (adjusted) 3.7 8.5 13.6 15.6 6.9 6.3 7.2 15.5 EBITDA margin before share based compensation (%) 2.5% 5.3% 8.0% 7.2% 4.1% 4.0% 4.2% 5.3% Restructuring costs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Acqusition costs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Share based compensation 0.1 0.4 0.6 0.6 0.9 1.1 0.0 2.2 EBITDA 3.6 8.0 13.0 15.0 6.0 5.2 7.2 13.2 Depreciation 4.6 5.2 5.8 6.1 6.0 5.9 5.9 6.5 Operating profit/loss -1.0 2.8 7.2 8.9 0.0-0.7 1.3 6.8

Income statement actual Shared services (NOK million)* (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 887.1 747.1 957.1 1,081.9 983.3 927.1 1,091.9 1,064.9 Total software revenue 1.9 2.6 1.1 2.0 2.2 2.1 1.7 2.5 Products revenue 888.9 749.7 958.2 1,083.9 985.6 929.2 1,093.6 1,067.4 Total services revenue 40.3 36.1 42.4 44.7 47.0 44.1 50.6 50.0 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 929.2 785.8 1,000.6 1,128.6 1,032.5 973.2 1,144.2 1,117.4 Margin 54.3 52.7 53.8 61.0 61.7 65.5 65.5 69.4 Product margin (%) 2.2% 2.8% 2.3% 2.3% 2.7% 2.9% 2.4% 2.7% Total services margin (%) 85.9% 87.4% 75.6% 80.8% 75.3% 87.1% 78.3% 80.2% Total products and services margin (%) 5.8% 6.7% 5.4% 5.4% 6.0% 6.7% 5.7% 6.2% Personnel costs 37.1 38.8 32.0 41.9 43.3 43.7 41.4 48.8 Other operating expenses 10.8 8.7 9.8 9.0 9.1 13.7 10.5 12.7 EBITDA (adjusted) 6.4 5.2 12.0 10.1 9.3 8.1 13.7 7.9 EBITDA margin before share based compensation (%) 0.7% 0.7% 1.2% 0.9% 0.9% 0.8% 1.2% 0.7% Restructuring costs 0.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0 Acqusition costs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Share based compensation 0.0 0.1 0.2 0.2 0.2 0.2 0.1 0.1 EBITDA 6.4 5.1 11.8 8.9 9.1 7.9 13.5 7.7 Depreciation 1.2 1.6 1.8 2.4 1.9 2.0 2.2 3.0 Operating profit/loss 5.2 3.5 10.0 6.5 7.1 5.9 11.3 4.7 * Atea Logistics and Atea Global Services

Income statement proforma Shared services (NOK million)* (amounts in NOK million) Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Total hardware revenue 887.1 747.1 957.1 1,081.9 983.3 927.1 1,091.9 1,064.9 Total software revenue 1.9 2.6 1.1 2.0 2.2 2.1 1.7 2.5 Products revenue 888.9 749.7 958.2 1,083.9 985.6 929.2 1,093.6 1,067.4 Total services revenue 40.3 36.1 42.4 44.7 48.8 44.0 50.5 50.0 Total other income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Revenue 929.2 785.8 1,000.6 1,128.6 1,034.4 973.2 1,144.2 1,117.4 Margin 54.3 52.7 53.8 61.0 63.6 65.4 65.5 69.4 Product margin (%) 2.2% 2.8% 2.3% 2.3% 2.7% 2.9% 2.4% 2.7% Total services margin (%) 85.9% 87.4% 75.6% 80.8% 76.2% 87.1% 78.3% 80.2% Total products and services margin (%) 5.8% 6.7% 5.4% 5.4% 6.1% 6.7% 5.7% 6.2% Personnel costs 37.1 38.8 32.0 41.9 43.3 43.7 41.4 48.8 Other operating expenses 10.8 8.7 9.8 9.0 11.0 13.6 10.5 12.7 EBITDA (adjusted) 6.4 5.2 12.0 10.1 9.3 8.1 13.7 7.9 EBITDA margin before share based compensation (%) 0.7% 0.7% 1.2% 0.9% 0.9% 0.8% 1.2% 0.7% Restructuring costs 0.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0 Acqusition costs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Share based compensation 0.0 0.1 0.2 0.2 0.2 0.2 0.1 0.1 EBITDA 6.4 5.1 11.8 8.9 9.1 7.9 13.5 7.7 Depreciation 1.2 1.6 1.8 2.4 1.9 2.0 2.2 3.0 Operating profit/loss 5.2 3.5 10.0 6.5 7.1 5.9 11.3 4.7 * Atea Logistics and Atea Global Services