Regarding agreement with SpareBank 1
(Thomson Reuters ONE) -
(Oslo, 20 May 2011) SpareBank 1 has notified EDB ErgoGroup ASA that the company
intends to review the group's future sourcing strategy, and this may have an
effect on EDB ErgoGroup's opportunities for supplementary sales that are not
part of its contractually-agreed turnover with SpareBank 1.
It should be noted that the main agreement between the parties will continue
until 2014 as before in line with the information previously announced, and the
current turnover for routine deliveries of operations and services will
continue. All tasks of development and all projects will also continue.
EDB ErgoGroup will in connection to the company's 2. Quarter presentation
provide an account about the economic consequences regarding loss in additional
sales to Sparebank 1, economic cost attached to the incident with payment cards
in the Easter and a considerable implementation of initiatives to strengthen the
banking solutions. Preliminary estimates can indicate a reduction somewhere
about 5 percent, compared to the expected EBITA for 2011 which the company has
earlier announced.
"Following a detailed audit of the company's deliveries to the banking market,
EDB ErgoGroup has implemented a range of measures to address certain delivery
and operational challenges. This work is being monitored on a weekly basis, and
has the highest priority within the company. These measures will ensure that we
leave no stone unturned in our commitment to improve our performance and
successively strengthen our reputation as a supplier and long term cooperation
with the banks", comments Terje Mjøs, CEO of EDB ErgoGroup.
Contact names:
Terje Mjøs, CEO, EDB ErgoGroup. Tel: + 47 06500
Eli Giske, CFO, EDB ErgoGroup. Tel: +47 908 44 189
Geir Remman, SVP Corporate Communications, EDB ErgoGroup. Tel: + 47 970 55 017
About EDB ErgoGroup
EDB ErgoGroup ASA is one of the leading Nordic IT companies, with some 10,000
employees and annual turnover approaching NOK 13 billion. The company is listed
on the Oslo Stock Exchange and operates from headquarters in Oslo with major
activities in both the Norwegian and Swedish markets. In all, the company
operates from 135 offices in 16 countries around the world.
This information is subject to the disclosure requirements stipulated in §5-12
of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: EDB ErgoGroup ASA via Thomson Reuters ONE
[HUG#1517497]
Unternehmensinformation / Kurzprofil:
Datum: 20.05.2011 - 08:57 Uhr
Sprache: Deutsch
News-ID 54858
Anzahl Zeichen: 3167
contact information:
Town:
Oslo
Kategorie:
Business News
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"Regarding agreement with SpareBank 1"
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