Webstep

Webstep ASA: Second quarter results 2022

Oslo, 24 August 2022: Webstep ASA reports revenues of NOK 215.1 million (NOK

195.5 million) and EBIT of NOK 13.5 million (NOK 19.9 million) for the second

quarter. EBIT was affected by structural initiatives related to the Company's

growth strategy. The EBIT margin in the quarter was 6.3 per cent (10.2 per

cent). Net profit for the first quarter was NOK 9.8 million (NOK 14.9 million).

- I am pleased with continued double-digit revenue growth in the second quarter.

The market has embraced our strong combination of a wide range of IT services

and leading expertise, says CEO of Webstep ASA, Save Asmervik.

Webstep had 507 employees at the end of the second quarter, an increase of 68

employees over the last twelve months. For the first half year, Webstep ASA

reports revenues of NOK 448.1 million (NOK 389.8 million), EBIT ended at NOK

37.4 million (NOK 38.0 million).

The financial position on 30 June was strong, with total equity of NOK 378.8

million (NOK 366.5 million), corresponding to an equity ratio of 58.9 per cent

(61.0 per cent). Cash and cash equivalents 30 June were NOK 26.8 million (NOK

20.5 million). The Group had a net cash flow of NOK 6.9 million (NOK -5.6

million) in the second quarter.

Contact details for further information:

Truls Oftedal Ellingsen, Interim CFO

Cell: +47 928 03 031

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.The Webstep Group employs 500 employees in Norway

and Sweden. The company offers its services to more than 250 customers annually

and has been recognised for its work environment.

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

-12 of the Norwegian Securities Trading Act

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