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Itera (ITERA) investor relations material
Itera Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue declined 9% year-over-year in Q2 2025 to NOK 202.9 million, impacted by a soft market, seasonality, and project completions, but record-high new customer revenue (18% of Q2) signals growth potential.
EBIT margin for the quarter was 2.1%, with operational improvements from AI integration and decentralisation reducing overhead.
Strategic expansion into the Defence sector and Ukraine, including a NOK 1.5 billion housing and infrastructure agreement, positions the company for long-term opportunities.
Continued investment in AI to improve internal efficiency and client offerings, with an AI Enablement Team established.
Ordinary dividend of NOK 0.20 per share paid, with potential for a supplementary dividend later in the year.
Financial highlights
Q2 2025 revenue was NOK 202.9 million, down 9% year-over-year; EBIT margin at 2.1% (down from 9.4%); net income NOK 1.7 million (-90% YoY).
H1 2025 EBIT was NOK 25.4 million, down from NOK 40.3 million last year; H1 net income NOK 16.2 million (-46% YoY).
Operational cash flow was NOK 20.8 million in Q2; rolling 12-month operational cash flow at NOK 68 million.
EBITDA-to-cash conversion rate reached 104% in the last 12 months, up from previous years.
Dividend of NOK 0.20 per share paid in Q2 2025.
Outlook and guidance
Entering Q3 with improved utilization and a better position than last year, but recovery from soft market conditions is slower than anticipated.
Management expects gradual market recovery and sees significant opportunities in AI, digitalization, and the Defence sector.
The Enter Ukraine initiative and Defence sector contracts are expected to generate substantial, though uneven, revenue and profit over the next 2–3 years.
Focus remains on profitable growth, cost effectiveness, and cash generation; no specific financial guidance provided.
New customers and expanded international sales capacity expected to drive future growth.
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