Results

Key figures

Key figures by segment

NOK million  2017  2016  2015  2014  2013  2012 
EVRY Financial Services             
Operating revenue  3 222   3 133   3 613   3 682   3 554   3 339  
Adjusted EBITA  432   415  392   371   326   314  
Adjusted EBITA-margin  13.4 %  13.2 %  10.9 %  10.1 %  9.2 %  9.4 % 
Operational investments (CAPEX) incl. in-house developed software  181   182   205   115   188   199  
Number of employees  1 409   1 238   1 299   1 457   1 490   1 490  
EVRY Norway*             
Operating revenue  5 769   5 669   5 761   6 093   6 180   6 607  
Adjusted EBITA  604   430   111   322   359   356  
Adjusted EBITA-margin  10.5 %  7.6 %  1.9 %  5.3 %  5.8 %  5.4 % 
Operational investments (CAPEX) incl. in-house developed software  61   64   130   255   334   209  
Number of employees Norway  2 193   2 361   2 660   3 344   3 378   3 457  
Number of employees Global Delivery        3 103   2 861   2 440  
EVRY Sweden             
Operating revenue  3 312   3 245   3 430   3 472   3 293   3 307  
Adjusted EBITA  325   305   232   255   213   234  
Adjusted EBITA-margin  9.8 %  9.4 %  6.8 %  7.3 %  6.5 %  7.1 % 
Operational investments (CAPEX) incl. in-house developed software  51   53   65   80   66   61  
Number of employees  1 685   1 778   1 939   2 218   2 308   2 305  

* incl Global Delivery for the years 2012-2014

Key figures for the Group

  2017  2016  2015  2014  2013  2012 
key figures (NOK million)             
Operating revenue  12 596   12 246  12 860   12 773   12 600   12 731  
EBITDA  629   1 217   -938  1 020   1 128   1 010  
EBITDA-margin  5.0 %  9.9 %  -7.3 %  8.0 %  8.9 %  7.9 % 
Adjusted EBITDA  1 821   1 583   1 278   1 290   1 219   1 141  
Adjusted EBITDA-margin  14.5 %  12.9 %  9.9 %  10.1 %  9.7 %  9.0 % 
EBITA  353   947   -1 405  543   673   484  
EBITA-margin  2.8 %  7.7 %  -10.9 %  4.2 %  5.3 %  3.8 % 
Adjusted EBITA  1 569   1 322   811   813   764   691  
Adjusted EBITA-margin  12.5 %  10.8 %  6.3 %  6.4 %  6.1 %  5.4 % 
Number of employees  8 545   8 864   9 422   10 350   10 323   9 873  
Order backlog (NOK billion)  18.0  20.8  17.1  18.0  16.6  15.3 
key figures per share (NOK)             
Earnings per share   -0.82   1.12   -5.28   -3.26   -0.29   0.60  
Adjusted earnings per share  2.82   2.18   1.15   1.85   1.49   1.16  
Free cash flow per share  2.86   3.61   2.22   2.44  1.77  1.11 
Book equity per share  10.15   0.73   8.03   16.02   20.04   20.46  
Average number of shares outstanding  319 072 529  267 187 441  267 187 441  266 994 898  266 798 981  266 421 202 
Solidity             
Equity ratio  28.4 %  1.9 %  19.4 %  40.0 %  44.6 %  45.0 % 
Gearing  1.18   31.17   1.87   0.60   0.55   0.55  
Net interest-bearing liabilities (NOK million)  3 807   6 041   4 008   2 568   2 966   3 007  
Liquidity (NOK million)             
Cash and bank deposits  880   990   900   616   683   561  
Liquidity reserve  2 580   2 799   2 209   2 414   2 145   2 013  
Cash flow from operations  -495   306   217   973   1 027   723  
Adjusted cash flow from operations  1 272   1 280   1 002   1 068   1 099   807  
Investments in fixed assets  176   161   297   398   484   425  
Investments in in-house developed software  206   189   147   93   143   86  
Sale of tangible operating assets (sales proceeds)  24   35   34   75   -   1  
Free cash flow  913   964   592   652   473   297  
Cash conversion  91.6 %  108.0 %  97.8 %  93.9 %  104.5 %  88.9 % 
Cash conversion ex CAPEX  72.0 %  88.0 %  65.8 %  61.7 %  53.2 %  44.2 % 

* The financial figures for 2013 are restated due to implementation of IFRS 11 Joint Arrangements with effect from 1 January 2014 and the classification of EVRY Danmark A/S as discontinued operations.
**The financial figures for 2012 are restated due to implementation of IAS 19 Employee Benefits with effect from 1 January 2013.

Definitions of key figures

EBITDA
Earnings before interest, tax, depreciation and write-downs of tangible assets and in-house developed software, and amortisation of customer contracts.

Adjusted EBITDA
EBITDA before other income and expenses.

EBITA
Earnings before interest, tax and amortisation of customer contracts.

Adjusted EBITA
EBITA before other income and expenses.

Equity ratio
Total equity as a percentage of total equity and liabilities.

Gearing
Net interest-bearing liabilities divided by total book equity.

Net interest-bearing liabilities
Total of current and non-current interest-bearing liabilities less liquid assets.

Operational cash flow
Cash flow from operational activities.

Adjusted operational cash flow
Operational cash flow before other income and expenses.

Free cash flow
Adjusted operational cash flow less investment spending (CAPEX) (excl sales).

Cash conversion
Adjusted operational cash flow (excl finance) divided by Adjusted EBITDA.

Cash conversion ex CAPEX
Adjusted operational cash flow (excl interest payments) less CAPEX divided by Adjusted EBITDA.

Cash flow per share
Net cash flow from operations divided by average number of shares outstanding.

Earnings per share
Profit/-loss for the year attributable to shareholders (owners of the parent company)  divided by the average number of shares outstanding over the year.

Adjusted earnings per share
Profit/-loss for the year attributable to shareholders (owners of the parent company) adjusted for other income and expenses after tax divided by the average number of shares outstanding over the year.