Webstep

Webstep ASA: Third quarter results 2023

Oslo, 9 November 2023: Webstep ASA reports revenues of NOK 211.2 million (NOK

193.9 million) and EBIT of NOK 2.3 million (NOK 5.5 million) for the third

quarter of 2023. The EBIT margin for the quarter was 1.1 per cent (2.8 per

cent). Net profit for the third quarter was NOK 0.3 million (NOK 3.2 million).

- Revenues are impacted by challenging market conditions especially for the

Swedish operation, while we experienced revenue growth in the Norwegian

operation. Lower utilisation affects EBIT, in addition to costs related to the

temporary increase in employer contribution for Webstep Norway. We have planned

and executed initiatives in the third quarter with focus on improving

profitability with effect from 2024, says CEO Save Asmervik.

Year to date Webstep reports revenues of NOK 737.9 million (NOK 642.0 million),

EBIT ended at NOK 45.2 million (NOK 42.9 million).

Webstep had 566 employees at the end of third quarter, an increase of 31

employees compared to corresponding quarter last year.

Total equity on 30 September was NOK 383.4 million (NOK 384.0 million),

corresponding to an equity ratio of 54.0 per cent (60.3 per cent). Cash and cash

equivalents 30 September were NOK 16.9 million (NOK 24.9 million). The Group had

a net free cash flow of NOK negative 33.3 million (NOK 0.1 million) for the

third 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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