Q-Free Investor Relations
Q-Free Investor Relations

Investor relations

Systematically sharing data is key to our core business. We work with our shareholders and investors the same way – with openness, transparency, and earnestness.

Investors will find relevant financial and corporate information about Q-Free on this page.

Should you have further questions do not hesitate to contact us.

Key figures

~1B NOK (~100 M USD)

IN 2002


Key figures from 2019 to Q3 2020, according to previous segment reporting, can be obtained by contacting our investor relations department.

Latest news

Latest quarterly results

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Corporate governance

Implementation of and reporting on corporate governance.

Good corporate governance maximizes added value and decreases business risks, and helps to ensure group resources are to used in an efficient, sustainable manner. The value added should benefit shareholders, employees, and the community.

Q-Free is listed on the Oslo Børs and subject to Norwegian securities legislation and stock exchange regulations. Stock exchange regulations require listed companies to publish a report on their principles for corporate governance in their annual report, in accordance with Section 1 of the Norwegian Code of Practice for Corporate Governance, version dated 17th of October 2018.

Q-Free ASA endeavours to comply with these recommendations.

Q-Free Corporate Governance Review 2019

Members of the board

Trond Valvik (1980)

Chair of the Board

Served since 2017

Trond Valvik is Investment Director and responsible for the business area of Direct Investments in Rieber & Søn AS. Rieber & Søn AS is the investment company of the Rieber family in Bergen, Norway, and is Q-Free’s largest shareholder (27.53%). Valvik has previously been Partner in the Private Equity company Borea Opportunity. Working with investments and exercising active ownership for several years, Valvik possess significant Board experience from different industries. Valvik also has operational experience as interim leader in various companies in connection to restructuring and change processes, e.g. in the field of IT and software, where he acted as Group CEO of Software Innovation for a period. Valvik also has experience from transaction support and audit in EY. Valvik holds a MSc Business degree from the Norwegian School of Economics (NHH). Valvik has served as Chair of the Board since 2020. Valvik is a Norwegian citizen and resides in Fjaler, Norway. Valvik owns indirectly through Battelhavet AS 150,000 shares in Q-Free ASA.

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Snorre Kjesbu

Snorre Kjesbu (1969)

Board member

Served since 2016

Snorre Kjesbu is the Executive Vice President at Bang & Olufsen (B&O), where he is responsible for product creation and fulfillment. Before joining B&O he was the Vice President and General Manager for the Collaboration systems and Video Technology Group (CVTG) in Cisco, and Senior Vice President for Tandberg’s Endpoint Product Division. Prior to Tandberg, he was at ABB responsible for wireless communications. Kjesbu and his team at ABB were awarded the Wall Street Journal Innovation award in 2002.

Kjesbu serves on the board of directors of several IT-companies, and holds more than 20 patents in the area of communications and video conferencing. He is frequently invited to speak at key events and was a guest lecturer at the Stanford Network Research Center at Stanford University. Kjesbu is a Norwegian citizen and resides in Oslo, Norway. Kjesbu has 39,505 shares in Q-Free ASA.

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Ingeborg Molden Hegstad (1976)

Board member

Served since 2018

Ingeborg Hegstad has since 2015 been a partner in the consulting company Imsight, offering business, strategy and leadership advisory to executives, teams and organizations. She has 12 years of experience from McKinsey & Company where she was Associate Partner working with retail, telecom and IT. Hegstad has also been a management consultant at Egon Zehnder, where she worked with executive search, coaching of executives and teams, organizational development and board work. She has extensive experience from working internationally, with organizations and executives in many countries in Europe and Asia. Hegstad holds a Master of Business and Administration from Norwegian Business School BI (2000). She is also a member of the board of Cxense ASA. Ingeborg Molden Hegstad resides in Oslo, Norway. Hegstad owns indirectly through Imsight AS 24,600 shares in Q-Free ASA.

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Trine Strømsnes (1969)

Board member

Served since 2019

Trine Strømsnes is Country Manager of Cisco Norway. Throughout her career in Cisco, Trine Strømsnes has held several roles within sales, business development, sales management and marketing. She was COO for Norway and Partner Leader for Norway and Northern Europe, responsible for developing and execution of Go-to-Market Strategy and tactics for Partner Operation. She has also been Director Marketing, responsible for developing and executing Marketing for Countries in Northern Europe, Regional Sales Manager for Public Sector in Norway, as well as Manager Sales Business Development in Public Sector team in Europe. Trine Strømsnes is an experienced leader with a passion for identifying innovative approaches to how technology can be utilised to create true value. Strømsnes is a Norwegian citizen, and resides in Oslo, Norway. Strømsnes has no shares in Q-Free ASA.

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Geir Bjørlo (1976)

Board member

Served since 2020

Geir Bjørlo is co-founder and partner at Corporate Communications AS, a specialised consulting firm offering services within corporate and financial communications. Bjørlo has two decades of experience from the capital markets and works primarily with investor relations and transactions for listed companies and private equity firms. He is member of the Norwegian Society of Financial Analysts’ committee for financial information, has a MSc in Economics and Business Administration from the Norwegian School of Economics, NHH, and has completed studies at the University of Prague, VSE. Bjørlo is a Norwegian citizen and resides in Oslo, Norway. Bjørlo owns indirectly through Illuminator AS, 70,000 shares in Q-Free ASA.

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Yngve Halmø (1980)

Employee-elected Board member

Served since 2020

Yngve Halmø has been with Q-Free since 2007, and holds the position as Software Architect for the Standard Software Group. Halmø has held several technical roles in Q-Free and has extensive experience from delivering projects in the Tolling business domain.

Halmø holds a BSc degree in software engineering from the University College of Tromsø, Norway, and a MSc in computer science from the Norwegian University of Science and Technology (NTNU) in Trondheim, Norway.

Yngve Halmø is a Norwegian citizen and resides in Trondheim, Norway. Halmø has no shares in Q-Free ASA.

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Brage Blekken (1977)

Employee-elected Board member

Served since 2020

Brage Blekken has been with Q-Free since 2000 and holds the position as senior R&D Engineer in the R&D department.

Blekken has a BSc in electronics from the Sør-Trøndelag University College in Trondheim, Norway.

Brage Blekken is a Norwegian citizen and resides in Trondheim, Norway. Blekken has no shares in Q-Free ASA.

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Share information

Shareholder policy

One of our primary goals is maximizing shareholder value such that the return on investment—measured as the dividend and rise in the share price—is at least the same as alternative investments with similar risk. Q-Free does provide information on future financial performance.

Through the annual and quarterly reports and presentations, Q-Free will provide information on its major value drivers and risk factors. This will secure information for investors and make it possible to evaluate the company’s risk and performance. It is Q-Free’s policy to maintain a high equity ratio to provide a platform for the company’s expected expansion and growth. Based on this assumption, the company does not expect any dividend to be paid out to shareholders in the coming years.

Financial calendar

Financial year 2020

10.07.2020 – Half-yearly Report
28.05.2020 – Annual General Meeting
29.04.2020 – Quarterly Report – Q1
28.10.2020 – Quarterly Report – Q3
12.02.2021 – Quarterly Report – Q4

All quarterly presentations will be held at Hotel Continental, Stortingsgaten 24/26, Oslo. Due to Covid-19 restrictions, the presentations may be held as webcast only. Please keep updated on announced invitations.