Opin Kerfi Group hf Frosti Bergsson Dagskrá

Opin Kerfi Group hf. Frosti Bergsson

Dagskrá • Ársfjórðungsuppgjör OKG hf. – janúar til september 2003 • Rekstur erlendis • Fyrirspurnir

Eignarhald 10. 11. 2003 Nafn % heild Framtak Fjárfestingarbanki hf. 18, 3% Frosti Bergsson 14, 0% Lífeyrissjóðir Bankastræti 7 11, 5% Íslandsbanki hf. 6, 7% Lífeyrissjóður verslunarmanna 4, 9% Kaupþing Búnaðarbanki 3, 4% Lífeyrissjóðurinn Framsýn 3, 3% Landsbanki Íslands 2, 6% Lífeyrissjóður Norðurlands 2, 5% Sigurjón Sindrason 1, 7% VVÍB hf. Sjóður 10 1, 5% Fjárfestingafélagið Straumur 1, 1% Lífeyrissjóður Lífiðn 1, 1% Frjálsi Lífeyrissjóðurinn 1, 0%

Markmið 2003 • Fjárhagslegt markmið EBITDA svipuð og 2002 • Fókus á hlutabréfaeign • 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

Sundurliðun veltu

Sundurliðun EBITDA

Sundurliðun EBIT

Ársfjórðungayfirlit

Afskriftir

Eignir

Viðskiptavild • Datapoint 1. 137. 000 • Virtus 762. 000 • Skýrr 624. 000 * • OKD 90. 000 ------------------Samtals. 2. 615. 000 * Eignfært á 1. 070 m. íkr. / markaðsverðmæti amk. 1. 800 m. íkr.

Skuldir og eigið fé

Sjóðstreymi

Sjóðstreymi (frh. )

Fjögurra ára yfirlit

Opin kerfi ehf. • • • Veltuminnkun 14% milli ára ( þróun $ ) Minni vélbúnaðarsala til stærri fyrirtækja Fjölgun þjónustusamninga Grimm verðsamkeppni Nú aðeins einn viðurkenndur sölu- og þjónustuaðili HP á Íslandi • Q 4 lítur vel út

Skýrr hf. • Innleiðing á fjárhagskerfum fyrir ríkið gengur vel, verklokasamningur • Rekstrarhagnaður umfram áætlanir • Rekstur í góðu jafnvægi • Góð verkefnastaða • Samningur við Oracle • OKG á nú tæp 95% eignarhlut

Datapoint Svenska AB • Velta og hagnaður undir áætlun • EBITDA 103 m. íkr. • Samdráttur í sölu á vélbúnaði til fyrirtækja, en þjónustutekjur á áætlun • Unnið að sameiningu við Virtus AB

Virtus AB • • Kemur inn í samstæðuna 1. júní 2003 Q 3 venjulega slæmur Unnið að sameiningu við Datapoint AB Góð tengsl við HP

Opin Kerfi Danmark • Eftir slakan fyrri árshelming þá hafa náðst góðir samningar í Q 3 • Q 4 lítur vel út • Sameining við Delta/Teamco gekk vel

Markmið 2003 • Fjárhagslegt markmið EBITDA svipuð og 2002 • Fókus á hlutabréfaeign • 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

Sýn stjórnarformanns • Sterkt norrænt upplýsingatækni-fyrirtæki sem getur þjónað kröfuhörðum fyrirtækjum og stofnunum • Munum bæta verulega arðsemi félagsins á árinu 2004 • Meiri samvinna og samlegð • Stærð fyrirtækisins gerir það að áhugaverðum samstarfsaðila ( HP & MS &. . ) • Eftirsóknarverður vinnuveitandi

Opin Kerfi Group hf. Chris Jansen

Agenda Sweden • Financial results • Market situation • Competition & Partners • Customers • Integration status • Conclusions Denmark • Financial results

Opin Kerfi Group hf. Sweden

Opin Kerfi Group hf. Financial results

Revenues Sweden

EBITDA Sweden (Earnings Before Interest Tax, Depreciation & Amortization)

Opin Kerfi Group hf. Market situation Research & press

Market research

Press articles IT Companies’ losses reduce. . . . But 3 out of 4 companies have a loss. . . Dagens Industri November 2003

Press articles The number of bankruptcies reaches a ceiling. . . . (2003: 7. 2004: 7. 200 ) Computer Sweden November 2003

Conclusions market research & press • • Sweden worst in Nordic (< 1% in ’ 03) 29 of 40 (3 out of 4) IT companies with nett loss in’ 03 (and ’ 02) 7% reduced IT revenues 10 -20% IT margin reductions • • May 03 worst labor market since 1993 Sweden bankruptcies maximized in 2003 (# 7200) Stockholm hit hardest (2 -3 x Sweden average) IT, Telco and Finance hit hardest • • • Sweden 6 -month-outlook: nearly all systems services growth negative to flat Sweden 18 -month-outlook: some selective positive growth; outsourcing Focus areas: Mission Critical Servers, Storage, Security, Mobility, ERP, Portals, IT Management

Opin Kerfi Group hf. Competition & Partners

Competition Reveneues 2003 profit 2003 revenues 2002 profit 2002 Difference KSEK jan-sep jan-sep revenues 03/02 profit 03/02 Kerfi Sweden 630 629 1 Datapoint 266 320 54 Virtus 364 309 55 Acando Frontec 338 -153 430 -43 -92 -110 Dimension 362 -90 875 -108 -513 18 Framfab 186 -84 264 -62 -78 -22 1 672 -56 1 782 -226 -110 170 Know IT 210 0 243 -3 -33 3 Mandator 309 -78 555 -206 -246 128 Modul 1 156 -37 221 -42 -65 5 Pro. Act 486 -37 534 -26 -48 -11 Protect Data 122 -10 148 -30 -26 20 RKS 155 -6 202 -25 -47 19 Sigma 538 -48 882 -120 -344 72 80 -14 104 -46 -25 32 166 -81 231 -34 -65 -47 WM Data 4 800 286 5 220 6 -420 280 9 580 -407 11 692 -964 -2 112 557 IBS Trio Turnit

Press articles Fredag 7 november 2003 29% minskning för ÅF- och partnerkedjornas PC-försäljning Trender: Återförsäljar- och partnerkedjorna minskade sin PC-försäljning med 29% under det första halvåret 2003. Direktförsäljning ökade med 2%, postorder med 47%, stormarknader med 5% och distributörer med 6%. De största återförsäljar- och partnerkedjorna minskade sin datorförsäljning med 29% under det första halvåret i år. Det innebär att återförsäljar- och partnerkedjorna fick 32% av den totala PC-marknaden i Sverige under första halvåret i år jämfört med till 41% under samma period 2002. Återförsäljar- och partnerkedjornas försäljning till personalköp minskade med 55% och till företagsmarknaden med 9%, framgår det vidare av statistik från analysföretaget IT Research. Totalt förmedlades 173 010 datorer via de största ÅF-kedjorna under perioden, vilket är 29% färre än under motsvarande period föregående år. Serverförsäljningen ökade dock med 19% till 9 425 enheter. Även notebooks ökade, +9%, till 39 200 datorer inklusive consumer notebooks i hem-PC affärerna. Däremot minskade återförsäljar- och partnerkedjornas försäljning av stationära datorer till företagsmarknaden med 11% till 78 940 enheter. Totala värdet uppgick till 2, 7 miljarder SEK, en minskning med 36%. Som en jämförelse kan nämnas att den totala PC-marknaden i Sverige under motsvarande period minskade med 10% till 539 135 datorer. Hem-PC minskade mest, -59%, till 88 180 datorer. Atea är största bland återförsäljar- och partnerkedjorna i volym räknat och toppar totala marknaden och företagsmarknaden före Martinsson och Office-kedjan Atea toppar även personalköp före Nicator och Martinsson. Större hem-PC affärer under perioden har varit Posten (Dell) , Scania (HP), Nordea (HP) och Stockholm stad (FSC). Stadab ökade mest i procent räknat. Även Caperio och Office-kedjan ökade under perioden. Datapoint och Virtus fusioneras nu under nya namnet, Kerfi. Tillsammans blir de näst störst inom området servers, efter Martinsson. HP har en dominerande ställning hos återförsäljar- och partnerkedjorna med tillsammans 58% av den totala försäljningen. Fujitsu Siemens och IBM följer närmast. Sun och Dell har ökat sin försäljning via kanalen.

Partners Datapoint/Virtus gets a private lane from HP. . . ”. . . HPs way of favoring Datapoint/Virtus has caused the company’s other partners within systems solutions to react. According to an agreement Datapoint / Virtus gets the exclusive rights to certain customers whereby HP pulls back its own account managers. . . ” Computer Sweden November 2003 ”. . . Datapoint / Virtus is today our biggest systems integrator partner, and we are now conduction a test to see if this is a way to work with in the future. . . ” Roland Vejdemo Managing Director HP Sweden ”. . . He confirms that HP reduces headcount and that this could affect some 35 people within various areas, some of whom could be idle when the company tests the new working model with Datapoint/virtus. . . . ” Computer Sweden

Partners Customer Roadshow Introduction of Kerfi AB Testimonial on Datapoint / Virtus merger HP, Microsoft, Novell, BT Industries

Partners about the merger, customer benefits, partnership, future ”. . . A partner for servers (Unix, MS, Linux), storage, software AND services and solutions A partner covering all industries and both installed solutions as well as new solutions A financially strong, sizeable partner for long-term relationship A partner with a broad focus enabling flexibility A partner with broad and sufficient competence A partner with quality and integrity . . . ” Comments from HP, Microsoft, Novell, BT Industries November 2003

Conclusions market research & press • • HP #1 in channel (58% share) HP #4 -5 in services (after WM, Tieto, IBM, CAP) • • Kerfi Sweden #1 in Sweden (according to resp. HP) Kerfi Sweden #2 in Sweden (after Martinsson) (according to IDG) • Kerfi Sweden only HP partner in test with HP to take over control of some 15 accounts

Opin Kerfi Group hf. Integration status

Acquisition & integration lifecycle • Dec 02 -Mar 03 Apr 03 Jun 03 Maj 03 • Orientation • Letter of Intent • Contract • Announcem. • Discussions • Due diligence organization signed • Organizationa & management l design • • Management Get to know • Budget selection consolidation 2 H 03 • Closing books Virtus & mistakes Jul 03 • Vacation • Start new budget 2 H 03 • Start bonus management team 2 H 03 Aug-Oct 03 Nov-Dec 03 • Return from • Customer vacation Roadshow • Start • Prepare integration legal issues • New • Employee organization contracts • Go-to-market • Budgets • F&A system FY 04 planning • IT systems • New name • New HR C&B • New buildings • Workshops Jan-Feb 04 • Legal merger • Move to new building • New FY 04 budgets Real integration: 3 months sofar

Opin Kerfi Group hf. Conclusions

Conclusions Are we loosing market share ? Is HP loosing market share ? No, we have not lost, in fact gained market share Do our competitors do it better ? No, our competitors are mostly worse off Are we wrongly focused ? No, we have the right focus, but should enhance services and operations (insourcing) Do we have an over-sized company given the new reality ? Yes, we need to down-size the business side to match the new volumes. Further staff synergy reductions are possible after integration (2 H 04) Does the market see the merger as beneficial ? Yes, HP, Microsoft, Novell, customers (BT Industries) are very positive Competitors are upset with HP favoring Kerfi AB Will the Swedish market pick up? Yes, but modestly in FY 04, mostly in services. We should focus on a lean and mean organization reflecting the current business volume whilst attempting to develop new areas (insourcing) Was Virtus a “good buy” ? Yes, certainly, but possibly at a higher-than-desired price. The combined Kerfi AB market position is undisputed, partnerships are excellent, results are unsatisfactory in FY 03 in a difficult market, the outlook for FY 04 is much stronger, integration is going well, finalized 1 H 04 May we expect synergies after all ? Yes, but only in FY 04, and only in full from FY 05 No, HP is #1 and not loosing market share, the market is shrinking

Opin Kerfi Group hf. Denmark

Revenues Denmark

EBITDA Denmark (Earnings Before Income Tax, Depreciation & Amortization)

Opin Kerfi Group hf.