Bouvet

Earnings Release • May 23, 2023

BOUVET’S POSITIVE DEVELOPMENT CONTINUES

BOUVET’S POSITIVE DEVELOPMENT CONTINUES

Oslo, 23 May 2023: Bouvet had operating revenues of NOK 945.1 million for the first quarter of 2023, compared with NOK 811.1 million in the same period of last year. Operating profit (EBIT) came to NOK 131.6 million, compared with NOK 122.8 million in the first quarter of 2022.

“This quarter was characterised by a high level of activity in every area. Many milestones were passed in 2022, and the pace we carried over from that year characterised to a great extent the first three months of 2023. We are seeing a strong increase in turnover, a high level of profitability and good growth in our workforce,” says Per Gunnar Tronsli, CEO of Bouvet ASA.

Bouvet’s operating costs, including depreciation, came to NOK 813.5 million for the first quarter, compared with NOK 688.4 million in the same period of 2022. That represents an increase of 18.2 per cent.

The EBIT margin for the first quarter was 13.9 per cent, compared with 15.1 per cent in the first quarter last year.

Net profit came to NOK 104.7 million, compared with NOK 95.5 million for the first quarter of 2022. Diluted earnings per share were NOK 1.00 for the quarter, compared with NOK 0.91 in the same period of last year.

Further information from

Per Gunnar Tronsli, CEO, Bouvet ASA, tel +47 900 20 622

Trude Hole, CFO, Bouvet ASA, tel +47 977 10 344

Bouvet ASA in brief

Bouvet is a leading Scandinavian consultancy in the field of IT and digital communication. We support both private- and public-sector players with digitalisation, and help them to meet the challenges and exploit the opportunities presented by new technology. At 31 March 2023, it had 2 111 employees at 17 offices in Norway and Sweden.

The company is listed on the Oslo Stock Exchange with the ticker code BOUV.