SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For Q4-2002 Results

Nera ASA

Kokstadveien 23, P.O. Box 7090
N-5020 BERGEN
Norway

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F____ Form 40-F____

Indicate by ckeck mark whether the registrant by furnishing the information continued in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes____ No___X___

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3- 2(b):

TABLE OF CONTENTS


SIGNATURES
Income Statements
Balance Sheets
Statements of Cash Flow

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.


		Nera ASA

		By: Name: Title:		Bjørn Ove Skjeie (sign.) Bjørn Ove Skjeie President and Chief Operating Officer

Dated: February 17, 2003

Income Statements


(Amounts in NOK mill.)	Year		Year		Q4		Q4
			Pro forma*				Pro forma*
	2002		2001		2002		2001

Orders received		2 518,6		3 127,2		575,4		563,7
Operating revenue		2 444,8		3 635,5		614,4		807,3
Operating expenses		-2 255,1		-3 293,3		-551,6		-819,9
Depreciation		-83,5		-92,3		-21,8		-10,8

Operating income (loss) before R&D		106,2		249,9		41,0		-23,4

Research and Development		-239,6		-346,9		-58,7		-77,7

Operating income (loss) before restructuring and writedowns		-133,3		-97,0		-17,7		-101,1

Restructuring and writedowns		-11,1		-264,0		-11,1		-75,5

Operating income (loss)		-144,5		-361,0		-28,8		-176,6

Income from investments in associated comp		-23,8		-0,8		3,0		-1,4
Writedown of project financing
Net financial items		6,0		-42,7		-4,9		-85,7
Income before taxes and minority interest		-162,3		-404,5		-30,6		-263,7

Taxes		33,7		81,3		0,8		100,3

Net income (loss)		-128,6		-323,2		-29,8		-163,4

Minority interest		-16,5		-3,8		-10,1		-3,8

Net income (loss) after minority interest		-145,1		-326,9		-39,9		-167,1

* Pro forma includes Nera Telecommunications, Singapore

Balance Sheets


(Amounts in NOK mill.)	31.12.02		31.12.01

Deferred tax assets		174,0		113,5
Goodwill		18,9		23,7
Property, plant, equipment		222,8		268,0
Financial non-current assets		164,0		219,9

Non-current assets		579,7		625,2

Inventories		382,9		534,7
Trade receivables		518,6		781,6
Other receivables		285,3		375,3
Cash and cash equivalents		795,8		899,5

Current assets		1 982,6		2 591,0

TOTAL ASSETS		2 562,3		3 216,2

Shareholder’s equity		1 611,8		1 728,1
Long-term liabilities		95,3		101,8
Current liabilities		855,2		1 386,3

TOTAL EQUITY AND LIABILITIES		2 562,3		3 216,2

Interest bearing current liabilities		4,8		192,3
Interest bearing long-term liabilities		4,3		8,4
Minority interest of equity		240,2		157,1

Statements of Cash Flow


(Amounts in NOK Mill.)	Year		Year
	2002		2001

Net income (loss)		-128,6		-367,0
Depreciation		83,5		87,9
Writedowns on goodwill and other non-current assets		–		236,4
Change in inventories, account receivables/payables and other working capital items		186,4		-77,9
Other adjustments to operation activities		-111,6		-205,9

Net cash provided by (used in) operating activities		29,7		-326,5

Proceeds from sale of property, plant and equipment		7,9		1,0
Capital expenditures		-61,4		-129,1
Other investments and sales		70,1		135,1

Net cash provided by (used in) investing activities		16,6		7,0

Proceeds from issuance of shares		37,7		5,2
Changes, treasury stock		-2,8		-26,8
Dividends paid		-26,8		-27,1
Net changes in liabilities		-191,6		-59,6

Net cash provided by (used in) financing activities		-183,6		-108,3

Effect of changes in currency exchange rates		33,6		6,9

Net change in cash and cash equivalents		-103,7		-420,8

Cash and cash equivalents at beginning of period		899,5		1 320,3

Cash and cash equivalents at end of period		795,8		899,5

LOGO


		Nera ASA
PRESS RELEASE, February 17, 2003		Postal Address P.O. Box 7090, N-5020 BERGEN, Norway, Office Address Kokstadvn. 23, BERGEN, Norway, Tel.No. +47 55 22 51 00 Fax.No. +47 55 22 52 99 Head Office Nera ASA, 5020 BERGEN Register of Business Enterprises NO 944 536 949 MVA

Nera ASA: Results per 4th quarter 2002

Nera ASA (OSE: NER) had operating revenues of MNOK 2,445 for 2002, compared with pro forma (including NeraTel, Singapore) MNOK 3,636 for 2001. The company had a slightly positive development in Q4, in spite of a difficult market situation, in the transmission networks segment especially. Nera’s turnover increased from the previous quarter. At the close of 2002, the company’s financial situation is robust, with satisfactory solidity and a positive cash flow. Competition in Nera’s major markets is still fierce, and the corporate management expects the business volume for 2003 to remain at 2002 level.

	•		Operating income per Q4: MNOK (144) as against pro forma MNOK (361) in the same period last year

	•		Income before tax per Q4: MNOK (162) as against pro forma MNOK (404) in the same period last year

	•		Transmission Networks booked new orders for MNOK 1,243 in 2002, and had an operating income of MNOK (165)

	•		Satellite Communications maintains its market position and achieved an operating income for 2002 of MNOK 68.8 in 2002, as against MNOK 66 in 2001

	•		Wireless Broadband Access saw a considerable surge, and booked new orders for MNOK 216 in 2002 including the ShinSat contract of MNOK 120

	•		Operating expenses were reduced by MNOK 220 equivalent to 25 percent

	•		Nera’s balance sheet remains healthy with a cash reserve of MNOK 796 and an equity ratio of 63 percent. Both inventories and accounts receivable were reduced

	•		Board of directors recommend no dividend for 2002


Figures in MNOK	Per Q4-02			Per Q4-01			Q4-02			Q4-01
				(pro forma)						(pro forma)
Orders received		2,519			3,127			575			564
Operating revenues		2,445			3,636			614			807
Operating income		(144	)		(361	)		(29	)		(177	)
Income before tax		(162	)		(404	)		(31	)		(264	)
Earnings per share		(1.19	)		(3.02	)		(0.33	)		(1.38	)

Bjørn Ove Skjeie, CEO of Nera ASA, commented:
“Nera’s development in Q4 met our expectations and the effects of the program we have implemented to improve results continue to materialise according to plan. Although we cannot be satisfied with the results we present today, we have gained control of the negative development and are content to present a result in line with the expectations we communicated to the market in June of last year.

LOGO

The Nera organisation has been severely put to the test in 2002, but in spite of the changes, we are content to enter 2003 with the knowledge that we have maintained our position as technology leader, and that Nera’s cash position and solidity have been protected”.

Transmission Networks

There are still few signs of optimism in the market for the company’s Transmission Networks operations. The prevailing sentiment is still a reluctance to invest in new infrastructure for mobile networks. This business area thus still faces major challenges. The order intake in Q4 was MNOK 235, which is down compared to previous quarters. In spite of a generally low level of investment in transmission networks, selected markets show a positive development. The company has won important contracts in South-East Asia, Eastern Europe and the Caribbean, while the traditionally strong South American and Western European markets are still weak.

Operating revenues for Transmission Networks per Q4 2002 were MNOK 1,343, as against pro forma MNOK 2,277 for the same period of the previous year. Operating income for the year was MNOK (165), as against MNOK 170 in 2001.

Satellite Communication

Nera upheld its position as the leading supplier of satellite telephones in the Inmarsat system throughout 2002. Political turbulence in a number of regions around the world has given relief organizations, media and others the impetus to upgrade their communication equipment. Nera’s launches of new products for the maritime satellite communication market have also contributed to increasing orders in this business segment. Meanwhile, the company has maintained its leading position in the land earth station market. This resulted in a total order intake of MNOK 676 per Q4, as against MNOK 628 for 2001.

Satellite Communication had operating revenues of MNOK 617 per Q4, as against MNOK 609 in 2001. The 2002 operating income was MNOK 68.8, as against MNOK 66.0 in 2001. With a 2002 operating margin of 11.2 percent, Satellite Communication performed well above target.

Wireless Broadband Access

The Wireless Broadband Access segment experienced a considerable surge in Q4. Nera signed a major contract with ShinSat in December and the business segment also won a number of minor contracts. Order intake for Nera Wireless Broadband Access totaled MNOK 216, as against MNOK 4 in 2001.

Wireless Broadband Access had operating revenues of MNOK 69 in 2002, as against MNOK 22 in 2001. Operating income was MNOK (52.4), as against MNOK (258) in 2001.

Looking ahead

“After two years with only minor new infrastructure investments, the transmission networks market has stabilized somewhat, but we can still not predict with certainty when new growth can be expected in our markets and how strong it will be. We thus base our predictions on the supposition that the size of the total transmission market in 2003 will be comparable to the 2002 market”, said Nera CEO Bjørn Ove Skjeie, who added:

“Due to the low order intake in Q4 we are prepared for a somewhat weaker development of the total business volume in the first part of 2003”.

In the mobile satellite communication market, 2002 trends are expected to prolong. This would imply that the transfer of data becomes more and more important in Inmarsat, while the competition from other systems in the voice market increases. The total volume of the Inmarsat market is not expected to change much, and Nera’s goal is to uphold its position as the leading supplier in the Inmarsat system.

LOGO

“In spite of a significant decrease in R & D costs, the Nera Group has kept its innovative strength during 2002. To maintain this position will be a goal also during 2003”, says Bjørn Ove Skjeie. At the same time he underlines that the company is continuously taking action in all parts of the business’ value chain in order to improve Nera’s profitability and competitive strength. These actions will to a great extent continue independent from market development.

“The return to profitable operations is the company’s main goal for 2003. Nera’s corporate management expects to reach this goal during the second half of the year, providing the market develops in line with our anticipations”, said Bjørn Ove Skjeie. He emphasize that it will be a challenge to be able to maintain Nera’s strong cash position during 2003, especially given the large R & D projects that has been initiated.

About Nera:

Nera is a world-leading global supplier, developing, manufacturing and selling fixed, wireless and satellite communication equipment and systems. The company designs, develops, manufactures and market point-to-point and point-to-multipoint radio link equipment. Satellite terminals and land earth stations for mobile and fixed satellite communications. Nera is a major supplier to INMARSAT. The Company is listed on the Oslo Stock Exchange. Nera ASA has an associated company, Nera Telecommunications Ltd., listed in the Singapore Exchange Ltd. (ticker: Nera Tel).

For further information, please see www.nera.no or contact

Helge Skaar, Head of Corporate Communications Nera ASA

	•		Telephone: +47 55 22 58 20 (office), +47 90 14 20 40 (mobile)

	•		E-mail: hsk@nera.no

Full Year Presentation 2002

Oslo, 17 February 2003

(FULL YEAR PRESENTATION 2002)

Bjørn Ove Skjeie Chief Executive Officer

(BJORN OVE SKJEIE CHIEF EXECUTIVE OFFICER)

The Overview

V Some few ray of lights in a still difficult market

V Robust financials — results as previously guided

V Positive operating cash flow — cash position defended

V Solid balance sheet and operation under control

V Planning for similar business level in 2003 — expects break even to be reached during second half of the year

(THE OVERVIEW)

Key Figures

(Amounts in NOK mill.) Year Year Q4 Q4 Pro forma* Pro forma* 2002 2001 2002 2001

Orders received 2519 3127 575 564 Sales revenue 2445 3636 614 807 Operating income before R&D 106 250 41 -23 Operating income before special charges -133 -97 -18 -101 Operating income -144 -361 -29 -177 Income before tax and minority interest -162 -404 -31 -264

* Pro forma includes Nera Telecommunications, Singapore

(KEY FIGURES)

Quarterly Orders received by Business Area Q1 2001 Q2 2001 Q3 2001 Q4 2001 Q2 2002 Q3 2002 Q4 2002

proforma proforma proforma proforma Q1 2002

WBA 2 7 0 -4 36 12 16 152 Other 206 197 121 79 113 102 83 85 Satellite Com. 239 129 119 142 174 289 109 103 Transm. Networks 511 583 450 347 309 361 338 235 TOTAL 958 916 690 564 632 764 546 575

(QUARTERLY ORDERS RECEIVED BY BUSINESS AREA)

Market View (1)

V Transmission market: Still a certain weakening of the market conditions in the mobile network markets Some large projects in long-haul infrastructure market Fixed wireless access — growing but still small

Significant geographical variances observed

(MARKET VIEW(1))

Market View (2)

V Satellite market: Inmarsat landmobile and marine market expected to be on level New broadband opportunities continue to emerge

V Others: Contract manufacturing weak IT-network in SEA challenging

(MARKET VIEW (2))

Cost Level substantially down

V OPEX reduced by 220 MNOK year on year

V Administrative costs down by 28 %

V Sales cost reduced by 15 %

V R & D reduced by 31 % through: External funding Focused programmes Increased efficiency

(COST LEVEL SUBSTANTIALLY DOWN)

FWA conquests in Norway Municipalities with FWA solutions from Nera (Jan-03)

Rennebu Ålesund Lom Bjarkøy Meldal Ørsta Lesja Laerdal Orkdal Volda Sjåk Baerum

Skaun Austevoll Sel

MelhusFitjar Dovre

Trondheim Kvam Vågå KvaefjordJondal Rendalen HarstadModalen Ringebu Ballangen Bø Nord Fron

Hemne Sauherad Fusa

Halsa Nome Samnanger Rindal Evenes Hadsel Surnadal Øyer Stokmarknes

(FWA CONQUESTS IN NORWAY)

Innovative Strength creates new business: Digital-TV — opportunities to Cairns

Phase I Phase II Phase III

Explore Set top-box opportunities Transmission Network On the back of Reference project 18 MUSD, Mobil-TV-project/Singapore NTL i Australia

(INNOVATIVE STRENGTH CREATES NEW BUSINESS: DIGITAL-TV - OPPORTUNITIES)

Innovative Strength creates new business : Broadband via satellite

Svolvaer

Nittedal Earthstation

2nd Gen ipStar project with ShinSat can Fra HB@ piloten give new major opportunities DVB-RCS now in Commercial sale

(INNOVATIVE STRENGTH CREATES NEW BUSINESS: BROADBAND VS SATELLITE)

Innovative Strength creates new business : Satellite Communications - Isaiah 65 Project — US$5.3 Million Turnkey solution to Isaiah 65 Philippines Supply of 1 000 (+2 000) Nera WorldCommunicator and VPN

Inmarsat MPDS LES

Nera WorldCommunicator

Internet VPN Appliance ISAI AH Main E-BOS/VPN Offic e

ATM Machine POS PC Remote Sites

(INNOVATIVE STRENGTH CREATES NEW BUSINESS: SATELLITE COMMUNICATIONS)

Ambitions going forward

V Reach break-even with 2002 turnover-level during the year V Defend cash position and solidity V Win some big contracts and secure market positions V Keep innovative strength — important for long term competitiveness as well as flexibility short term in regaining profitability V Implement and strengthen profitability improvement programmes, increasing the flexibility in operating

(AMBITIONS GOING FORWARD)

Bjørn Olafsson Chief Financial Officer

(BJORN OLAFSSON CHEIF FINANCIAL OFFICER)

Income Statements

(Amounts in NOK mill.) Year Year Q4 Q4 Pro forma* Pro forma* 2002 2001 2002 2001

Orders received 2 518,6 3 127,2 575,4 563,7 Operating revenue 2 444,8 3 635,5 614,4 807,3 Operating expenses -2 255,1 -3 293,3 -551,6 -819,9 Depreciation -83,5 -92,3 -21,8 -10,8 Operating income (loss) before R&D 106,2 249,9 41,0 -23,4 Research and Development -239,6 -346,9 -58,7 -77,7 Operating income (loss) before restructuring and writedowns -133,3 -97,0 -17,7 -101,1 Restructuring and writedowns -11,1 -264,0 -11,1 -75,5 Operating income (loss) -144,5 -361,0 -28,8 -176,6 Income from investments in associated comp. -23,8 -0,8 3,0 -1,4 Net financial items 6,0 -42,7 -4,9 -85,7 Income before taxes and minority interest -162,3 -404,5 -30,6 -263,7 Taxes 33,7 81,3 0,8 100,3 Net income (loss) -128,6 -323,2 -29,8 -163,4 Minority interest -16,5 -3,8 -10,1 -3,8 Net income (loss) after minority interest -145,1 -326,9 -39,9 -167,1

* Pro forma includes Nera Telecommunications, Singapore

(INCOME STATEMENTS)

Operating income before special charges by Business Areas

(Amounts in NOK mill.) Year Year Q4 Q4 Pro forma* Pro forma*

Business Areas 2002 2001 2002 2001 Transmission Networks -165,2 170,0 -21,0 31,8 Satellite Communications 68,8 66,0 15,0 22,1 Wireless Broadband Access -52,4 -258,0 -16,8 -47,7 Other / elimination 15,5 2,0 5,1 -30,3 TOTAL -133,3 -20,0 -17,7 -24,1

* Pro forma includes Nera Telecommunications, Singapore

(OPERATING INCOME BEFORE SPECIAL CHARGES BY BUSINESS AREAS)

Margin Development

Transmission/Satellite Transmission Satellite

35 45 Acc. Acc.

1997 1998 1999 2000 2001 Acc. 1997 1998 1999 2000 2001 Acc.

Q3 2002 Q3 2002 Gross margin % 33 25 30 30 282121 Gross margin % 35 30 3340363535 Oper. margin % 2,8 4,0 8,5 8,9 7,3 -14,6 -12,3 Oper. margin % 9,1 2,0 4,9 13,8 10,8 11,4 11,2

$(MARGIN DEVELOPMENT TRANSMISSION\SATELLITE)$

Balance Sheets (Amounts in NOK mill.) 31.12.02 31.12.01

Deferred tax assets 174,0 113,5 Goodwill 18,9 23,7 Property, plant, equipment 222,8 268,0 Financial non-current assets 164,0 219,9 Non-current assets 579,7 625,2 Inventories 382,9 534,7 Trade receivables 518,6 781,6 Other receivables 285,3 375,3 Cash and cash equivalents 795,8 899,5 Current assets 1 982,6 2591,0 TOTAL ASSETS 2 562,3 3216,2 Shareholder’s equity 1 611,8 1728,1 Long-term liabilities 95,3 101,8 Current liabilities 855,2 1386,3 TOTAL EQUITY AND LIABILITIES 2 562,3 3216,2 Interest bearing current liabilities 4,8 192,3 Interest bearing long-term liabilities 4,3 8,4 Minority interest of equity 240,2 157,1

(BALANCE SHEETS)

Net Cash Position (Cash — interest bearing debt) MNOK

(NET CASH POSITION)

Working Capital

MNOK

(WORKING CAPITAL)

Trade Receivables/ Inventories/Trade Payables Days

Days 1st H. Acc. Q3- 1995 1996 1997 1998 1999 2000 2001 2002 2002 2002

Receivables 76 91 102 88 77 111 97 80 74 76 Inventories 82 77 67 51 40 38 67 62 63 56 Payables 41 43 48 48 29 45 53 46 41 46

$(TRADE RECEIVABLES\INVENTORIES\TRADE PAYABLE DAYS)$

Statements of Cash Flows

(Amounts in NOK Mill.) Year Year 2002 2001

Net income (loss) -128,6 -367,0 Depreciation 83,5 87,9 Writedowns on goodwill and other non-current assets — 236,4

Change in inventories, account receivables/payables and other working capital items 186,4 -77,9 Other adjustments to operation activities -111,6 -205,9 Net cash provided by (used in) operating activities 29,7 -326,5 Proceeds from sale of property, plant and equipment 7,9 1,0 Capital expenditures -61,4 -129,1 Other investments and sales 70,1 135,1 Net cash provided by (used in) investing activities 16,6 7,0 Proceeds from issuance of shares 37,7 5,2 Changes, treasury stock -2,8 -26,8 Dividends paid -26,8 -27,1 Net changes in liabilities -191,6 -59,6 Net cash provided by (used in) financing activities -183,6 -108,3 Effect of changes in currency exchange rates 33,6 6,9 Net change in cash and cash equivalents -103,7 -420,8 Cash and cash equivalents at beginning of period 899,5 1320,3 Cash and cash equivalents at end of period 795,8 899,5

(STATEMENTS OF CASH FLOWS)

Financial Key Figures

(Amounts in NOK mill.)

2002 2001 2000 1999

2 445 Sales revenue 2893 2550 2766 -145,1 Net income (loss) after minority interest -371 136 208 -1,19 Earnings per share (NOK) -3,02 1,22 2,16 7,50 Share price as at end of period (NOK) 19,40 38,50 37,50 n.a. P/E n.a. 32,0 17,6 1 612 Equity (incl. minority interest) 1728 1977 970 62,9 Equity ratio (%) 53,7 56,9 42,7 240,2 Minority interest 157,0 — - 11,25 Equity per share excl. minority interest (NOK) 12,85 16,09 10,09 0,0 Dividends (NOK) 0,00 0,22 0,20 1 669 Number of employees (end of period) 1820 1340 1406

(FINANCIAL KEY FIGURES)

Q & A Oslo, 17 February 2003

(Q&A)

Appendix

(APPENDIX)

Orders received by Business Area

(Amounts in NOK mill.) Year Year Q4 Q4 Pro forma* Pro forma*

Business Areas 2002 2001 2002 2001 Transmission Networks 1 243 49,4% 1890 60,4% 235 40,8% 347 61,5% Satellite Communications 676 26,8% 628 20,1% 103 17,9% 142 25,2% Wireless Broadband Access 2168,6% 4 0,1% 152 26,5% -4 -0,8% Other Elimination *) 384 15,2% 605 19,4% 85 14,8% 79 14,1% Total 2 519 100 % 3127 100 % 575 100 % 564 100 %

* Pro forma includes Nera Telecommunications, Singapore

(ORDERS RECEIVED BY BUSINESS AREA)

Quarterly Orders received by Market Transmission Networks

Q1 2001 Q2 2001 Q3 2001 Q4 2001 Q1 2002 Q2 2002 Q3 2002 Q4 2002 proforma proforma proforma proforma

EMEA 202 227 115 212 145 198 142 89 Asia 193 142 173 37 64 100 80 74 Americas 116 214 162 97 100 63 116 72 TOTAL 511 583 450 346 309 361 338 235

(QUARTERLY ORDERS RECEIVED BY MARKET TRANSMISSION NETWORKS)

Invoicing of Order Backlog*

NOK mill.

1st Quarter 2st Quarter 3nd Quarter Rest of 2003 Total 2003 2003 2003 and later

* Incl. Nera Telecommunications, Singapore

(INVOICING OF ORDER BACKLOG)

Operating Revenue by Business Areas

(Amounts in NOK mill.) Year Year Q4 Q4 Pro forma* Pro forma*

Business Areas 2002 2001 2002 2001 Transmission Networks 1 343 54,9% 2 277 62,6% 354 57,7% 549 68,0% Satellite Communications 617 25,2% 609 16,7% 146 23,8% 169 20,9% Wireless Broadband Access 692,8% 471,3% 152,5% 161,9% Other Elimination *) 417 17,1% 703 19,4% 98 16,0% 749,2% Total 2 445 100 % 3 636 100 % 614 100 % 807 100 %

* Pro forma includes Nera Telecommunications, Singapore

(OPERATING REVENUE BY BUSINESS AREAS)

Quarterly Operating Revenue by Business Area Q1 2001 Q2 2001 Q3 2001 Q4 2001 Q2 2002 Q3 2002 Q4 2002

proforma proforma proforma proforma Q1 2002

Other 264 235 128 74 122 100 96 98 WBA 12 9 11 16 20 21 13 15 Satellite Com. 160 150 131 169 161 155 153 146 Transm. Networks 564 627 537 548 378 373 238 354 TOTAL 1 000 1 021 807 807 681 649 500 614

(QUARTERLY OPERATING REVENUE BY BUSINESS AREA)

Book to Bill Transmission Networks Orders received Sales

(BOOK TO BILL TRANSMISSION NETWORKS)

Orders/Revenue/EBIT

Development Transmission/Satellite

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Q1 Q2 Q3 Q4 2001 2001 2001 2001

2001 2001 2001 2001 2002 2002 2002 2002 2002 2002 2002 2002 pro pro pro pro pro pro pro pro

Orders received 511583450347309361338 235 Orders received239129119142 174289 109 103 Operating revenue 564627537549378 373,0 238 354 Operating revenue 160150131169 161 156,0 154 146 Oper. inc. (EBIT) 50,4 49,8 37,9 31,8 -53,5 -47,5 -43,3 -21 Oper. inc. (EBIT) 16,7 13,8 13,3 21,3 14,4 17 22,5 15

$(ORDERS\REVENUE\EBIT DEVELOPMENT TRANSMISSION\SATELLITE)$

Quarterly Operating Revenue by Market Transmission Networks

Q1 2001 Q2 2001 Q3 2001 Q4 2001 Q1 2002 Q2 2002 Q3 2002 Q4 2002 proforma proforma proforma proforma

EMEA 235 302 180 254 154 129 137 218 Asia 110 170 175 152 88 142 49 65 Americas 219 155 182 143 136 102 52 71 TOTAL 564 627 537 549 378 373 238 354

(QUARTERLY OPERATING REVENUE BY MARKET TRANSMISSION NETWORKS)

WBA — Quarterly “fixed” cost level (R&D + Sales and Admin.) MNOK

(WBA - QUARTERLY FIXED COST LEVEL)

Orders Received by Market

(Amounts in NOK mill.) YearYear Q4 Q4 Pro forma* Pro forma*

Market 2002 2001 2002 2001 Norway 281 11,2% 396 12,7% 76 13,3% 103 18,3% UK 62 2,4% 125 4,0% -122 -21,2% 29 5,1% Rest of Europe 577 22,9%601 19,2% 201 35,0% 108 19,2% America 545 21,6%740 23,7% 121 21,1% 111 19,8% Africa 114 4,5%56 1,8% 14 2,4% 23 4,1% Asia 899 35,7% 1 186 37,9% 286 49,8% 191 33,9% Oceania 41 1,7%24 0,7% -2 -0,3% -2 -0,4% Total *) 2 519 100 % 3 127 100 % 575 100 % 564 100 %

* Pro forma includes Nera Telecommunications, Singapore

(ORDERS RECEIVED BY MARKET)

Orders received by Market

Percentage per region by Norway 11.2% (12.7%)* 31 December 2002 UK

Rest of Europe 2.4% (4.0%)* 22.9% (19.2%)*

Asia 35.7% (37.9%)*

Africa Americas 4.5% (1.8%)* 21.6% (23.7%)* Oceania 1.7% (0.7%)*

* Figures in brackets are Orders received per 31.12.01

(ORDERS RECEIVED BY MARKET CONTINUED)

Operating Revenue by Market

(Amounts in NOK mill.) YearYear Q4 Q4 Pro forma* Pro forma*

Market 20022001 2002 2001 Norway 276 11,3% 288 9,9% 101 16,5% 124 15,3% UK 110 4,5% 202 7,0% 36 5,9% 28 3,4% Rest of Europe 498 20,4%559 19,3% 144 23,4% 179 22,1% America 538 22,0%815 28,2% 114 18,5% 183 22,6% Africa 105 4,3%190 6,6% 27 4,5% 15 1,8% Asia 863 35,3%672 23,2% 182 29,6% 266 33,0% Oceania 55 2,2%169 5,8% 9 1,6% 14 1,8% Total *) 2 445 100 % 2 893 100 % 614 100 % 807 100%

* Pro forma includes Nera Telecommunications, Singapore

(OPERATING REVENUE BY MARKET)

Special Charges in 2002 Restructuring charges/Write backs in 2002

Transmission Networks (NOK mill) Close down of production facilities in UK, write down of inventory for old PDH-product: -23,0 Redundancy provision in Nera Networks, Bergen: -7,7 -30,7 Satellite Communications Write back of redundancy provision charged in 2001: 4,1 Wireless Broadband Access Write back of excessive provision for close down of Dallas operation 2001: 15,5 -11,1

Financial items Hyperinflation accounting P&L adjustment for hyperinflation in Venezuela. Charged as finance cost and credited equity (translation differences) -14,0

(SPECIAL CHARGES IN 2002)

Operating margins* before R&D Research & Development * Operating income before R&D as % of sales revenue * R&D as % of sales revenue (1) Adjusted for special charges

$(OPERATING MARGINS* BEFORE R&D\RESEARCH & DEVELOPMENT)$

Working Capital in % of annualised sales

(WORKING CAPITAL IN % OF ANNUALISED SALES)

NERA ASA 6-K