Bouvet

Earnings Release • Feb 24, 2015

MARKET ADAPTION AND ALL TIME HIGH REVENUES FOR BOUVET

MARKET ADAPTION AND ALL TIME HIGH REVENUES FOR BOUVET

Oslo, 24 February 2015: Bouvet ASA had operating

revenues of NOK 313.2 million for the fourth quarter

of 2014, up 5.0 per cent compared to the same period

of 2013. Sales for the full year came to NOK 1 132.6

million, up 1.8 per cent compared to the same period

of 2013. Operating profit (EBIT) for the fourth

quarter was NOK 19.3 million, compared with NOK 27.2

million in the same period of 2013. For 2014 as a

whole EBIT was NOK 79.2 million.

"Bouvet enjoyed its 13th straight year of

profitability and growth in 2014", says Sverre

Hurum, CEO of Bouvet. "Turnover with Statoil, our

largest client, is continuing to decline, but we are

experiencing progress in other sectors. IT and

digital communication have become central to all

stages in the value chain for our clients. Our 1 000

employees have a breadth of expertise which means we

can support clients in securing the effects of these

technologies."

Bouvet's operating costs for the fourth quarter came

to NOK 293.9 million, up by 8.4 per cent compared to

the same period of 2013.

The EBIT margin was 6.2 per cent in the fourth

quarter, down from 9.1 in the same period in 2013.

For the full year, the EBIT margin was 7.0 per cent,

compared to 8.5 per cent in 2013.

Net profit came to NOK 13.7 million in the fourth

quarter, down from NOK 20.0 million in the same

period of 2013. Diluted earnings per share for the

quarter were NOK 1.29, compared to NOK 1.92 in the

same period of 2013. Net profit for 2014 came to NOK

57.0 million, giving diluted earnings per share of

NOK 5.39. That represents a decrease from 2013, when

net profit was NOK 69.8 million and diluted earnings

per share came to NOK 6.67.

Further information from

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

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

About Bouvet ASA

Bouvet is a Scandinavian consultancy, which delivers

development and advisory services relating to

information technology and digital communication. At

31 December, it had 1008 employees spread over 14

offices in Norway and Sweden.

Bouvet is listed on the Oslo Stock Exchange under

the ticker 'BOUVET'.'