Bouvet

Earnings Release • Aug 25, 2020

Good results, but an uncertain future

Good results, but an uncertain future

Oslo, 25 August 2020: Bouvet had operating revenues of NOK 596.1 million for the second quarter of 2020, compared with NOK 518.4 million in the same period of last year. Operating profit (EBIT) came to NOK 85.2 million, compared with NOK 59.3 million in the second quarter of 2019. This quarter had one more work day compared with the same period of last year.

For the first six months Bouvet had operating revenues of NOK 1 237.3 million, compared with NOK 1 082.7 million in the same period last year. For the same period, the operating profit ended at NOK 167.8 million, compared with NOK128.1 million in the same period of 2019.

“Our vision that “we lead the way and build tomorrow’s society” is something we take seriously. And we saw during the second quarter that our expertise is important for many of our clients, who both keep society going and maintain its progress. We are 1 594 employees who are genuinely committed to continuing the development of society at a difficult time,” says Sverre Hurum, CEO of Bouvet ASA.

Bouvet’s operating costs, including depreciation, came to NOK 510.9 million for the second quarter, compared with NOK 459.1 million in the same period of 2019. That represents an increase of 11.3 per cent.

The EBIT margin for the second quarter was 14.3 per cent, up from 11.4 per cent in the second quarter last year.

Net profit came to NOK 65.5 million, compared with NOK 46.4 million for the second quarter of 2019. Diluted earnings per share were NOK 6.33 for the quarter, compared with NOK 4.49 in the same period of last year.

Further information from

Sverre Hurum, CEO, Bouvet ASA, tel +47 913 50 047

Erik Stubø, CFO, Bouvet ASA, tel +47 950 36 011

Bouvet ASA in brief

Bouvet is a Scandinavian consultancy which delivers services related to information, digital communication and advice. At the end of the quarter, it had 1 594 employees at 13 offices in Norway and Sweden.

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