Annual Report 2016


Top 25

One of Norway's 25
most innovative companies across industries


Top Executive

Itera's CEO Arne Mjøs voted Top IT executive of the year

GSA Global Awards 2016

Finalist in the European Service Provider of the Year category

The European Software Testing Awards 2016

Finalist in Best Agile Project, and Best Overall Testing Project – Finance

SSON Excellence Awards 2016

Finalist in Excellence in Transformation category




With colleagues from 20 nationalities, our diversity is unique


28 years of digital experience

13 683

Hours spent on training to secure world-class competence


Present in 5 countries: Norway, Sweden, Denmark, Ukraine and Slovakia
Itera executed well against its strategy in 2016, resulting in targeted customer development,  increased employee satisfaction and strong financial results, with a shareholder return of 61 percent.
Q1 - Itera continued the strong trend from the end of 2015 and achieved good growth and profitability improvements, with Itera growing by 5% in the first quarter. Key delivery agreements were signed with customers such as Nets, Handelsbanken, Aon Norway, KS, the Norwegian Defence Estates Agency, Norsk Tipping, Lovisenberg Diakonale Hospital, Norconsult, Animalia, Santander and yA Bank. 

Q2 - Itera moved its head office in Oslo to new, contemporary premises in Nydalen that have been completely adapted to Itera’s specifications and requirements to facilitate interdisciplinary collaboration. The expected benefits include increased employee satisfaction, a stronger corporate culture and greater efficiency.An ordinary dividend of NOK 0.15 per share was paid to the shareholders on the basis of the Group’s 2015 results.
Q3 - Itera was recognized as one of the 25 most innovative organizations in Norway across all sectors by Innovation Forum Norway. Itera entered into a large contract with Gemalto in connection with the development of a new national ID card featuring eID based on biometric technology and a new generation of Norwegian passports. 

Q4 - Itera achieved revenue growth of 10% in the fourth quarter relative to the same period in 2015. An additional dividend of NOK 0.15 per share was paid.
The proportion of Itera’s capacity located nearshore (nearshore ratio) was 37%, an increase of 1 percentage point from the previous quarter. 
Cash flow from operational activities was NOK 36.9 million.


Operating revenues (MNOK)


Shareholder return


Nearshore ratio


Growth 10 top customers

Revenues by industry


Banking & Insurance


Public, healthcare and organisations


Professional services


Retail and consumer products


Energy and marine



CEO comment

Our annual report shows that Itera has had a strong development in all important areas during the course of 2016.



Business model

Our strong and diversified customer portfolio makes us well qualified to understand our customers’ challenges.


Increase market shares and loyalty through providing great user experiences, optimized customer dialouge and user orientation in developing new products and services.

Products & Services

Adapt to customer expectations through a user centric approach, agile development, smart communication, high-end technologies and efficient methodologies for innovation.


Secure efficiency, security and compliance through digitalization of processes and optimizing infrastructure.


Create and retain high employee satification, encourage employee engagement and enable collaboration and mobile productivity.
We work in multidisciplinary teams to tailor our solutions to our customers’ needs.

Strategy & Insight


Design & Concept

System & Development


Hosting & Operations

Our high quality solutions provide great user experience through smart technology, great design and relevant content.


Tailored solutions and programs built to strengthen the relation between the customer and the customer's customers through active involvement and user centricity.

Products and services

Efficient and lean processes for innovation, resulting in high quality solutions through great design, relevant content and smart technology.


Secure, optimised and compliant infrastructure, supporting optimal business support through efficient processes.


Solutions offering agile, always-connected collaboration and working platforms, enabling efficiency, active participation and engagement in the working place.

Our approach

Our strategic platform for lean innovation


We seek insight from a wide range of sources to help us better understand the factors affecting the challenge we are trying to solve.


Abstract or concrete, visual or textual – we take an ambitious and open-minded approach to generating ideas in order to produce novel solutions.


A concept has to meet exacting requirements to be chosen: uniqueness, simplicity, potential and scalability.

Lean development

We make the concept a reality using a lean approach, smart technology, great design and relevant content

Continuous improvement

We optimize the solution to changing conditions as well as to new technology and market opportunities. We foster continuous improvement to secure long-term business value.

Our customers

Words that inspire us

“Around here, however, we don't look backwards for very long. We keep moving forward, opening up new doors and doing new things, because we're curious...and curiosity keeps leading us down new paths.”
Walt Disney Company