Opin Kerfi Group hf Frosti Bergsson Chris Jansen

Opin Kerfi Group hf. Frosti Bergsson Chris Jansen

Dagskrá • Ársfjórðungsuppgjör OKG hf. – janúar til júní 2003 • • Framtíðarsýn Staðan í Danmörku Staðan í Svíþjóð Q/A

Eignarhald 30. 6. 2003 Nafn % heild Framtak Fjárfestingarbanki hf. 20, 99% Frosti Bergsson 16, 04% Lífeyrissjóðir Bankastræti 7 10, 03% Íslandsbanki hf. 5, 86% Lífeyrissjóður sjómanna 5, 17% Lífeyrissjóðurinn Framsýn 3, 73% Lífeyrissjóður verslunarmanna 3, 57% Kaupþing Búnaðarbanki 2, 61% Fjárfestingasjóður Búnaðarbanka hf. 2, 03% Ragnar Marteinsson 1, 97% Sigurjón Sindrason 1, 93% VVÍB hf. sjóður 10 1, 28% Fjárfestingarfél Straumur hf. 1, 25% Lífeyrissjóður Lífiðn 1, 17%

Markmið 2003 • Fjárhagslegt markmið EBITDA svipuð og 2002 • Fókus á hlutabréfaeign (ljúka niðurfærslum) • Styrkja Opin kerfi ehf. • Styrkja starfsemina í Danmörku/Enterprise • Styrkja starfsemina í Svíþjóð/Datapoint • Tryggja vel heppnaða innleiðingu Skýrr á fjárhagskerfum fyrir ríkið • Skapa Opin Kerfi Group skýra framtíðarsýn

Rekstrarreikningur

Rekstrarhagnaður

Sundurliðun veltu

Sundurliðun EBITDA

Sundurliðun EBIT

Rekstrarreikningur

Niðurfærsla hlutabréfaeignar • Columbus IT Partner – niðurfærsla um 76. 5 millj. kr. í 1 H – nú er eignarhlutur metin á 30, 6 mkr. *miðað við gengi 3, 5 nú er gengið 7, 0 – endurfjármögnun félagsins lokið

Áhrif hlutdeildarfélaga • Element hf (31, 3%) – eignarhlutur færður niður – erfiður rekstur • Grunnur hf. (20%) – rekstur í jafnvægi • Tölvuþjónustan á Akranesi (30%) – rekstur í jafnvægi

Ársfjórðungayfirlit

Samanburður á tekjum á vörusölu og þjónustu ársfjórðungar 2001 -2003

Samanburður EBITDA eftir ársfjórðungum 2001 -2003

Fimm ára yfirlit samstæðunnar í millj. kr.

Eignir

Viðskiptavild, júní 2003

Skuldir og eigið fé

Sjóðsstreymi

Sjóðsstreymi (frh. )

Opin kerfi ehf. • • Veltuminnkun 13% milli ára Óhagstæð gengisþróun Samkeppnin hefur aukist Ekki vöxtur í vélbúnaðarsölu til stærri fyrirtækja • Samstarfsaðilar hins nýja HP hafa lent í erfiðleikum vegna breytinga í vöruframboði • Fjölgun alþjónustusamninga • Áfram skarpur fókus

Skýrr hf. • Innleiðing á fjárhagskerfum fyrir ríkið gengur vel – undirskrifaður verklokasamningur • Góð verkefnastaða – mörg ný verkefni • Gert er ráð fyrir að áætlanir ársins standist • OKG á nú 92, 6% eignarhlut

Tölvudreifing hf. • EBITDA var neikvæð á 1 H um 15, 3 milljónir kr. • Ekki hluti af kjarnastarfsemi OKG • Öll hlutabréf seld í júní • Söluhagnaður 15, 7 milljónir kr.

Datapoint Svenska AB • Velta og hagnaður undir áætlun • Samdráttur í sölu á vélbúnaði til fyrirtækja, en þjónustutekjur á áætlun • Unnið að sameiningu við Virtus AB • Ný rekstraráætlun hefur verið samþykkt fyrir síðari ársfjórðung – Datapoint og Virtus

Virtus AB • Kemur inn í samstæðuna 1. júní 2003 • OKG í samvinnu við KPMG gerir ítarlega greiningu á stöðu félagsins sem getur leitt til lækkunar á kaupverði • Unnið að sameiningu við Datapoint AB • Ný rekstraráætlun hefur verið samþykkt fyrir annan ársfjórðung – Datapoint og Virtus

Opin Kerfi Danmark • Ekki stórir samningar á vélbúnaði á fyrri árshelmingi • Þjónustutekjur yfir áætlun • Í , , pípunni” eru nokkrir stórir samningar, sem skipta miklu máli varðandi útkomu á síðari árshelmingi

Markmið 2003 • Fjárhagslegt markmið EBITDA svipuð og 2002 • Fókus á hlutabréfaeign (ljúka niðurfærslum) • Styrkja Opin kerfi ehf. • Styrkja starfsemina í Danmörku/Enterprise • Styrkja starfsemina í Svíþjóð/Datapoint • Tryggja vel heppnaða innleiðingu Skýrr á fjárhagskerfum fyrir ríkið • Skapa Opin Kerfi Group skýra framtíðarsýn

Staðan og Horfur • Náðum ekki EBITDA markmiðum á fyrri árshelmingi • Gerum ráð fyrir að ná EBITDA markmiðum á síðari árshelmingi • Ekki vöxtur í sölu á vélbúnaði til fyrirtækja og stofnana • Sala á þjónustu er skv. áætlun • Mjög hörð samkeppni á markaði og lág framlegð á tímabilinu • HP/Compaq sameining reyndist samstarfsaðilum erfið • Sameining Datapoint og Virtus – kostnaður fellur til í ár – sparnaður vegna sameiningar mun skilar sér í framtíðinni

Opin Kerfi Group hf. Chris Jansen

Agenda • OKG Strategy update • 1 H 03 results & 2 H 03 outlook • • Sweden Denmark Norway Sweden close-up • • • Market trends Competitors Value proposition Integration progress Value Capture Issues

Opin Kerfi Group hf. OKG Strategy update

Mission Opin Kerfi Group n OKG delivers: n IT products & systems n IT solutions & services n to businesses and consumers n in the Nordic market place n OKG wants to be: n a preferred partner n easy to work with n pleasant to work for n with high quality and integrity n OKG strives to continuity and attractiveness for its stakeholders n shareholders n customers n partners n employees n environment

Future vision by 2006 • • Be a top-3 Nordic Value Added (products) Reseller with related IT services Have a market cap of 10 B+ ISK and part of Top-15 ICEX Have 250 M€ revenue and profitable Have 30+% of the business in services Have ONE value proposition for the Group Have a clear brand cultural identity Have internal harmony and synergy across the Group Have less than 5 minority investments

Towards one OK Group 4 phases in 3 years Growth, Synergy & Value Year 1 Year 2 Year 3+ Move into Countries Move into Lines of Business Prepare the grounds Adopt & deploy the vision 1. 1. 03 1. 4. 03 Immediate 0 -3 months 1. 1. 04 Short-term 6 -9 months 1. 1. 05+ Mid-term 12 -24 months 1. 1. 0 x Long-term > 24 months

Adopt & deploy the vision Prepare the grounds Move to Lines of Business Move to Countries Phase 1 a: Adopt & deploy the vision Towards one OK Group 3002. 4. 1 tsetal , shtnom 3 -0 nihtiw eud : mret-etaidemm. I , seirtnuo. C ni ssesniu. B fo seni. L htiw inapmo. K en. O : noisiv-raey-3 eht no noisiced drao. B ü

Adopt & deploy the vision Prepare the grounds Move into Lines of Business Move into Countries Phase 1 b: Prepare the grounds 4002. 1. 1 tsetal eud , shtnom 6 -3 nihtiw eud : mret-troh. S 2 -1 tisive. R. tpoda & seinapmoc lla htiw krowemar. F eula. V KO eht liated dna enut-eni. F raey rep semit Towards one OK Group ü

Adopt & deploy the vision Prepare the grounds Move into Lines of Business Move into Countries Phase 2: move into Lines of Business 5002. 1. 1 tsetal eud , shtnom 42 -21 nihtiw eud : mret-di. M seinapmo. C nihtiw erutcurts ssenisu. B fo seni. L a yolped dna etaer. C RH dna MK , A&F sa hcus seigrenys cimetsys lanretni yolpe. D Towards one OK Group v v

Adopt & deploy the vision Prepare the grounds Move into Lines of Business Move into Countries Phase 3: move into Countries 5002. 1. 1 morf eud , shtnom 42 retfa eud : mret-gno. L erutcurts yrtnuo. C lagel a yolped dna etaer. C erutcurts ssenisu. B fo seni. L eht gniniatniam , seirtnuoc ot seinapmoc morf mrofsnar. T Towards one OK Group v v

The Opin Kerfi Group anno early 2003

The Opin Kerfi Group Vision by 2006 www. newname. com info@newname. com

Strategy Business proposition 30% Gross Margin Application services 20% Product services 10% Business products 1% Consumer products Operational efficiency Customer intimacy

Strategy “Moving up the value chain” 30% Gross Margin Application services 20% Product services 10% Business products 1% Consumer products Operational efficiency Customer intimacy

Opin Kerfi Group hf. 1 H 03 results & 2 H 03 outlook international

Sweden 1 H 03 results & 2 H 03 outlook (x. M SEK) Profit/EBT Budget 1 H 03 Actual 1 H 03 Budget 2 H 03 Datapoint Virtus Merger effects 13, 8 8, 7 ** 6, 4 * 0, 1 ** 11, 1 * 9, 3 - 2, 3 Total 22, 5 6, 5 *** 18, 9 Outlook: • 2 H 03 very challenging, possibly 3 -5 MSEK too high • Though possibilities to achieve, due to “reserves” and unplanned synergy effects • “Clean” situation, integration on track, motivation high • Possible Purchase Price renegotiation effects * Includes Norway ** Total 1 H 03, although only June results have been included in OKG *** Corrected for irregularities, should considered to be some 9 MSKEK; the growth is still some 200%

Denmark 1 H 03 results & 2 H 03 outlook (x 000 DKK) Profit/EBT Budget 1 H 03 Actual 1 H 03 Budget 2 H 03 OK DK 1, 873 - 1, 123 1, 296 Outlook: • 2 H 03 somewhat challenging, but possible • Large deal dependency; looks positive • Integration succeeded, motivation high • 3 -5 people reduction planned • Services good but utilization partially under; new initiatives • Intensified discussions with HP

Norway 1 H 03 results & 2 H 03 outlook (x 000 SEK) Profit/EBT Budget 1 H 03 Actual 1 H 03 Budget 2 H 03 DP-Avd N - 284 - 374 * - 284 Outlook: • 2 H 03 Outlook positive, at least on budget • 1 H 03 initially ahead (200 KSEK), one-time write-off took 1 H 03 down • Possible partial recovery of write-offs in 2 H 03 could imply over-performance * Includes a one-time accounts receivables write-off of some 300 KSEK EBT effect

Opin Kerfi Group hf. Sweden close-up

Sweden Market trends Sweden Ranked #1 IT Nation Worldwide by IDC for 4 th Consecutive Year June 22, 2003 LOS ANGELES, CA, June 22, 2003 – Sweden continues to hold its IT leadership position and has once again been rated as the world’s leading information economy, according to the 2003 IDC/World Times Information Society Index (ISI). For the fourth year in a row, the ISI index ranked Sweden as the number one country with the strongest position to take full advantage of the Information Revolution with its advanced information, computer, Internet, and social infrastructures. Sweden Ranked #1 IT Nation Tracking data from 55 countries around the world, the 2003 IDC/World Times Information Society Index measures countries according to their ability to access and absorb information and information technology. The overall top ten countries for the 2002 and 2003 reports are as follows: Rank 2003 (2002) 1. Sweden (Sweden) 2. Denmark (Norway) 3. Netherlands (Switzerland) 4. Norway (United States) 5. Finland (Denmark) 6. New Zealand (Netherlands) 7. Switzerland (United Kingdom) 8. United States (Finland) 9. Austria (Australia) 10. Canada (Taiwan) Source: Invest in Sweden Agency

Sweden Market trends Sweden Ranked #1 IT Nation Worldwide by IDC for 4 th Consecutive Year June 22, 2003 Ø Sweden’s “Wireless Valley” is home to the world’s wireless technology leaders. Ø Sweden’s "Telematics Valley" is the world’s largest cluster of telematics companies. Ø Sweden’s $400 M Telematics Science Park and new IVSS Program. Ø Sweden’s Socware Design initiates world's first full scale photonic network test bed. Ø In Sweden, 69 percent of the country has access to the Internet, with 15 percent of them using broadband. Ø Sweden leads world in sophisticated IT infrastructure. Ø Sweden invests most in IT and telecommunications in Europe. Ø Sweden is one of the top five nations prepared for the "networked" world of information and communications technology. Ø Sweden is more advanced in applying online technology than its European neighbors. Source: Invest in Sweden Agency

Sweden Market trends: 1 Q 03 Country Market Growth Rates Austria 1 Q 03/1 Q 02 3. 4% Norway 1 Q 03/1 Q 02 10. 4% 18. 1% Western European Prof. Deskbound PC Market Decline: Denmark 4. 1% - 0. 5% Finland -0. 7% Rest of MEA - 4. 5% France 1. 2% Russia 24. 6% Germany 3. 4% South Africa Greece 21. 5% Spain 33. 6% Hungary - 3. 6% Sweden - 15. 6% Ireland 8. 9% Belgium Czech Rep. 22. 4% - 2. 4% Western European Private Mobile PC Market Growth: Italy 0. 5% 46. 7% Netherlands 2. 5% Israel Poland 11. 6% Portugal - 9. 4% Rest E. Europe 13. 4% - 10. 4% Switzerland 12. 4% Turkey 2. 1% UK 8. 7% Source:

Sweden Competition (Sweden) Products & Systems Martinsson 500 people in Sweden, 1, 5 BSEK ? revenue Pulsen 250 people in Sweden, 850 MSEK revenue Atea 700 people in Nordic (230 in Sweden), 6+ BSEK revenue Ementor (formerly MD/Eterra) 2, 600 people in Nordic (400 in Sweden), 5, 6 BNOK revenue Services & Solutions WM Data Tieto. Enator 6, 000 people in Nordic (4, 000 in Sweden), 7+ BSEK 13, 000 people worldwide (x 000 in Sweden), 1, 3 BEuro revenue

Sweden Value proposition n Project Management n n Systems Integration n Design & implementation of data storage and backup systems via fiber-optic or IP connections IT Management Services n n n design, development and implement Microsoft, Novell and Cisco based (IP) network infrastructures and Microsoft and Novell Active Directories (and Outlook) Backup & Storage Services n n design, development and implementation of Microsoft and HP (&Sun) based Windows, Unix and Linux infrastructures Design, development and implementation of high-access (available) IT environments, such as HP (SUN), Veritas and Oracle Network Services n n Project management of IT engagements and investments with fixed/variable time & price and fixed functionality Design & implementation of IT Management organizations & systems based on ITIL principles and with HP, CA and IBM tools and products Implementation, management (insourcing) and hosting (outsourcing) of IT systems and storage based on ITIL principles with HP, CA and IBM tools Application Services n Design & implementation of selected packaged applications in the area of Call Centers, as well as (small) custom application development

Sweden Integration Management model: 12 projects Central Program Management Office Value Capture Personal products Enterprise products Products services Application services Go-To-Market Organization Logistics & E-commerce Finance & Administration Human Resources Strategy & Communications, Branding Information Technology Real Estate Quality Management Corporate Affairs & Legal

Sweden Integration projects progress 1. 2. Program Management Organisation 3. 4. Go to Market Human Resource 5. 6. 7. 8. 9. Real Estate Finance & Admin Internal IT Quality Strategy & Comm 10. 11. 12. Corp & Legal Affairs Logistics & e-com Value Capture Fully operationa; web-based; bi-weekly communications Matrix more or less in place Management Team operational; Offsite 18 -19/8 Still in progress Decision new Labor Union contract done Decision on MT team bonus 2 H 03 done Decision of salary structure 27/8 Decide Office in Stockholm 27/8: 6 alternatives Decide Business systems 21/8 Decide IT platform done: Microsoft Not yet started Decision on project on new name for New. Co 27/8 Decision on budget and timeschedule 27/8 First meeting planned 10 September Decision E-Handel Techdata agreement 27/8 Merger Costs & Merger Savings projects started

Sweden Value Capture: Merger costs 2 H 03: 4, 000 KSEK Organisation: None Go to Market: None Human Resource: 3, 000 KSEK discontinuation Virtus ex-GM (taken in May 2003 on Balance Sheet), excluded from 2 H 03 budget) Real Estate: 8, 000 KSEK Office move in Stockholm (excluded from 2 H 03 budget) Finance & Admin: 1, 000 KSEK ERP Data transfer & consolidation, training Internal IT: 1, 500 KSEK new IT & ERP systems, Intranet & Internet Quality: None Strategy & Comm: 750 KSEK New Corporate Branding & launch preparation Corp & Legal Affairs: 750 KSEK Legal support during Deal Closure Logistics & e-commerce: None

Sweden Value Capture: Merger savings 2 H 03: 1, 700 KSEK Organisation: None Go to Market: 900 KSEK Gross Margin (6, 000 revenue, more synergy towards HP and others) Human Resource: 500 KSEK in 2 H 03: 5 have left voluntarily sofar, more expected during move. Preparation of 15 people attrition (real savings in FY 04); colllective lay-offs difficult - LIFO, expensive (severance) short-term negative Real Estate: none (though savings in FY 04 x. MSEK due to closure offices in Stockholm, Malmo, Linkoping, Goteborg) Finance & Admin: 300 KSEK general services & temporaries, some insurance Internal IT: None in 2 H 03 (Consolidations of infrastructure & applications) Quality: None Strategy & Comm: None (new Corporate branding & launch prep New. Co off-sets 2 H 03 synergies) Corp & Legal Affairs: None Logistics & e-comm TBD, new Web-based system with Tech. Data; improved claims process & logistics warehouse reduction in FY 04

Sweden Issues Internal Virtus • Book keeping irregularities at Virtus; loss of some 3 MSEK bottom line 1 H 03 • Purchase Price renegotiation considered; could have positive effect in 2 H 03 Integration Datapoint-Virtus • Possible unrest in Stockholm due to real estate • Certain unrest due to Salary/Bonus system merger & changes • Somewhat lack of initial control due to ”live date” 1. July along with July vacation • Merger costs exceed merger savings in 2 H 03; net merger savings first in 2004 External Market • Slowdown of (hardware) market, lower products sales • Lower (hardware) margins due to competitive pressure • Weak 2 H 03 outlook, though better than 1 H 03 • Stringent Labor Laws in Sweden; tight market demand; headcount variations costly

Opin Kerfi Group hf. Frosti Bergsson Chris Jansen