Bouvet

Sales down to Statoil, up in other sectors for Bouvet in third quarter

Oslo, 12 November 2014: Bouvet had operating revenues

of NOK 242.3 million for the third quarter of 2014,

compared with NOK 249.1 million in the same period of

2013. That represents a decline of 2.7 per cent.

Operating profit (EBIT) came to NOK 9.2 million

compared with NOK 17.1 million in the third quarter

of 2013.

The company reports a sales growth of 0.6 per cent to

NOK 819.4 million for the first nine months of 2014.

"As expected, our sales to Statoil declined in the

third quarter," says Sverre Hurum, CEO of Bouvet

ASA. "Sales to other oil companies and economic

sectors increased. This shows we have the ability to

adapt to changes in the market and to seize new

opportunities."

Bouvet's operating costs, including depreciation and

amortisation, for the third quarter came to NOK 233.1

million, compared with NOK 232 million in the same

period of 2013. That represents an increase of 0.5

per cent

The EBIT margin declined from 6.9 per cent in the

third quarter of 2013 to 3.8 per cent. Operating

profit for the first nine months came to NOK 59.8

million, representing an EBIT margin of 7.3 per cent.

Net profit came to NOK 6.6 million in the third

quarter, down from NOK 12.4 million in the same

period of 2013. Diluted earnings per share for the

quarter were NOK 0.61, compared with NOK 1.21 in the

same period of 2013.

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 company providing

consultancy and development services for information

technology and digital communication. It had 962

employees at 14 offices in Norway and Sweden at 30

September 2013.

Bouvet is listed on the Oslo Stock Exchange under the

ticker code BOUVET.

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