EVRY: First phase of cost reduction program to be carried out

(Oslo, 4 April 2014) EVRY reported in a stock exchange announcement on 25 November 2013 that it planned to take measures to adjust the cost base of its operating services organisation in Norway. In addition to initiating this task, EVRY also intends to make some adjustments to its other Norwegian and Swedish activities, resulting in an increase in the scale of the cost-reduction program of 100 full-time equivalent positions relative to the previous announcement. This will be achieved by accelerating work on the introduction of new industrialised delivery models that make greater use of automation. In parallel with this, customers are making greater use of self-service solutions. These developments pave the way to simplifying the company's organisation and reducing its overhead costs. In addition to the program of work to improve efficiency, EVRY will make some reductions to capacity in units that are experiencing weak demand.

The first phase of the program will be carried out in the second quarter of 2014, and will affect 160 full-time equivalent positions. EVRY will recognise a provision of NOK 40 million in its accounts for the second quarter of 2014 in relation to the first phase. It is expected that the full effect on earnings of this phase of the cost-reduction measures will first be seen in the third quarter of 2014. 

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contact persons:
Morten Frogner, Acting CFO EVRY, Tel: +47 95724959
Geir Remman, VP Corporate Communications, EVRY. Tel: + 47 970 55 017

About EVRY

EVRY is one of the leading IT companies in the Nordic countries, with a strong local and regional presence in 50 Nordic towns and cities. Through its knowledge, solutions and technology, EVRY contributes to the development of the information society of the future, and so creates value for the benefit of its customers and for society as a whole. EVRY combines in-depth industry knowledge and technological expertise with a local delivery model and international strength.

EVRY has some 10,000 employees, and the company is committed to demonstrating that Nordic customers are best served by a supplier that understands Nordic business from the inside. EVRY reports annual turnover approaching NOK 13 billion. The company is listed on the Oslo Stock Exchange and operates from headquarters at Fornebu in Bærum, with major activities in both the Norwegian and Swedish markets.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.