Bouvet

Earnings Release • Aug 22, 2019

STILL GROWTH AND GOOD RESULTS FOR BOUVET

STILL GROWTH AND GOOD RESULTS FOR BOUVET

Oslo, 22 August 2019: Bouvet had operating revenues of NOK 518.4 million for the second quarter of 2019, compared with NOK 453.7 million in the same period of last year. Operating profit (EBIT) came to NOK 59.3 million, compared with NOK 55.7 million in the second quarter of 2018. This quarter had two less working days compared with the same period of last year.

Operating revenues increased 18.2 per cent for the first six months to NOK 1 082.7 million. For the same period, the operating profit ended at NOK 128.1 million, an increase of 20.5 per cent compared with last year.

“We found during the first quarter that our clients in the public and private sectors increasingly regard the correct application of technology as not only an advantage but also essential for creating sustainable growth and development for their own business and for society. We in Bouvet are so fortunate to have again been able to work with many of the leading enterprises in the Norwegian and Swedish public and private sectors on their development during this quarter,” says Sverre Hurum, CEO of Bouvet ASA.

Bouvet’s operating costs, including depreciation, came to NOK 459.1 million for the second quarter, compared with NOK 397.9 million in the same period of 2018. That represents an increase of 15.4 per cent.

The EBIT margin for the second quarter was 11.4 per cent, down from 12.3 per cent in the second quarter last year.

Net profit came to NOK 46.4 million, compared with NOK 42.9 million for the second quarter of 2018. Diluted earnings per share were NOK 4.49 for the quarter, compared with NOK 4.19 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 1 455 employees at 13 offices in Norway and Sweden.

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