Webstep

Webstep ASA: First quarter results 2024

Oslo, 23 May 2024: Webstep ASA reports revenues of NOK 261.9 million (277.2)

and EBIT of NOK 22.2 million (25.2) for the first quarter of 2024. The EBIT

margin for the quarter was 8.5 per cent (9.1). Net profit for the first quarter

was NOK 16.0 million (18.8).

- "Revenues have been negatively affected by a reduction in working days

especially in Norway, owing to Easter occurring in the first quarter of 2024,

while it was in the second quarter last year. EBIT is positively affected by the

implemented cost reduction program, although offset by the decrease in revenues.

The Webstep organisation has been through a quarter following efforts to

streamline operations and increase efficiency, to ensure future profitability

improvements. I'm looking forward to the next periods", Webstep CEO Kristine

Lund says.

Webstep had 531 employees at the end of first quarter, a decrease of 26

employees compared to corresponding quarter last year.

Total equity on 31 March was NOK 378.0 million (419.5), corresponding to an

equity ratio of 51.6 per cent (54.9). Cash and cash equivalents 31 March were

NOK 42.7 million (76.8). The Group had a net free cash flow of NOK negative 31.7

million (positive 16.2) for the first quarter.

Contact details for further information:

Ida Amalie Oma, CFO

Cell: +47 906 30 276

Website : www.webstep.com

Webstep ASA is a provider of consultancy services to the private and public

sector, with the IT expertise necessary to deliver the most demanding

digitalisation and IT services.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act

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