Webstep

Webstep ASA: Third quarter results 2021

Oslo, 28 October 2021: Webstep ASA reports revenue of NOK 166.5 million and EBIT

of NOK 9.5 million for the third quarter. Up 13.9 per cent and 1.9 per cent

respectively from the same period last year.

Webstep recorded revenues in the third quarter of NOK 166.5 million, up from NOK

146.2 million in the same quarter last year. Revenue growth was mainly driven by

an increased number of consultants.

- I am very pleased with the revenue growth in the third quarter. The market

demand is strong and Webstep is well positioned. Our customers want more from

us, and we are ready to deliver, says CEO of Webstep ASA, Save Asmervik.

EBIT for the third quarter amounted to NOK 9.5 million, up from 9.3 million in

the corresponding quarter in 2020. EBIT was impacted by non-recurring costs, NOK

2 million, related to write off fixed price projects and the use of external

consultants, as well as increased onboarding cost and culture building

activities.

Webstep had 470 employees at the end of the third quarter, up by 31 from the

previous quarter and up by 54 in the last twelve months.

- As our ability to handle more complex projects grows, Webstep also attracts

more talent. This is key, as our increased capacity to deliver also generates

new business opportunities, says Save Asmervik.

The financial position as of 30 September was strong, with total equity of NOK

373.3 million, corresponding to an equity ratio of 62 per cent. Cash and cash

equivalents 30 September were NOK 16.7 million. The Group has a credit facility

of NOK 110 million in Norway and SEK 5 million in Sweden.

Contact details for further information:

Truls Oftedal Ellingsen, Interim CFO

Cell: +47 928 03 031

Website : (http://www.webstep.com)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 approximately 450

employees in Norway and Sweden. The company offers its services to more than 200

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.

AI Terminal