Oslo, 19 May 2020: Bouvet had operating revenues of NOK 641.2 million for the
first quarter of 2020, compared with NOK 564.3 million in the same period of
last year. Operating profit (EBIT) came to NOK 82.6 million, compared with NOK
68.8 million in the first quarter of 2019.

"We sailed into 2020 full of optimism, with clients who needed our help to
develop their future enterprise-critical solutions. Up to 12 March, we continued
to experience good growth, normal operation and progress. Covid-19 meant we had
to adjust to a completely new position after that date. The seriousness of what
became a global crisis called for a resolute reorientation both inhouse and at
our clients. I have been able to observe with deep respect a Bouvet community
which delivers when it really matters. Results from the first quarter were very
good," says Sverre Hurum, CEO of Bouvet ASA.
 
Bouvet's operating costs, including depreciation, came to NOK 558.6 million for
the first quarter, compared with NOK 495.5 million in the same period of 2019.
That represents an increase of 12.7 per cent.

The EBIT margin for the first quarter was 12.9 per cent, compared with 12.2 per
cent in the first quarter last year.

Net profit came to NOK 64.7 million, compared with NOK 53.4 million for the
first quarter of 2019. Diluted earnings per share were NOK 6.24 for the quarter,
compared with NOK 5.16 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 31 March 2020, it had 1 575
employees at 13 offices in Norway and Sweden.
The company is listed on the Oslo Stock Exchange with the ticker code BOUVET.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange