Bouvet

Earnings Release • Aug 28, 2014

BOUVET Q2: GOOD RESULTS IN A DEMANDING MARKET

BOUVET Q2: GOOD RESULTS IN A DEMANDING MARKET

Oslo, August 28, 2014: Bouvet had operating revenues

of NOK 274.2 million the second quarter of 2014,

compared with NOK 284.3 million in the second quarter

last year. Operating profit (EBIT) in the period was

NOK 23.6 million compared to 28.5 million in the same

period of 2013.

Operating revenues increased 2.1 percent for the

first half to NOK 577.1 million. For the first six

months the operating profit ended at NOK 50.6

million, a decrease of 0.2 percent compared with last

year.

"Bouvet has a great ability to adapt to changes in

the market", says Sverre Hurum, CEO of

Bouvet. "During the last year we have seen an

increase in revenues from health, power supply,

public sector and the service industry. Oil and gas

is a declining market, but Bouvet is well positioned

to support the many new players in that sector."

Revenues and profit were influenced negatively by the

fact that 2014 has one working day less in the second

quarter compared with the same period of 2013.

During the second quarter of 2014, Bouvet had

operating costs of NOK 252.6 million, down from NOK

255.8 million in the same period of 2013. This

represents a decrease of 1.3 percent.

The EBIT margin for the second quarter decreased to

8.6 percent, compared with 10.0 percent in the same

period of last year. For the first six months, the

EBIT margin was 8.8 percent.

Profit for the period amounted to NOK 17.5 million,

down from NOK 20.8 million in the same period 2013.

Diluted earnings per share for Bouvet were NOK 1.65

for the quarter, compared with NOK 1.97 in the second

quarter 2013.

For more information, please contact:

Sverre Hurum, Managing Director in Bouvet ASA, Tlf.

+47 913 50 047

Erik Stubø, CFO in Bouvet ASA, Tlf. +47 950 36 011

About Bouvet ASA

Bouvet is a Scandinavian consultancy which delivers

development and advisory services relating to

information technology, digital communication and

enterprise management. At 30 June, it had 945

employees spread over 14 offices in Norway and

Sweden. Bouvet is listed on the Oslo Stock Exchange

under the ticker 'BOUVET'.