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Q2 2017: A good market for Bouvet

Aug 24, 2017

Bouvet had operating revenues of NOK 385.7
million for the second quarter of 2017, compared with NOK 345.3
million in the same period of last year. Operating profit (EBIT)
came to NOK 36.8 million, compared with NOK 41 million in the second
quarter of 2016. This quarter had four fewer working days compared
with the same period of last year.

Operating revenues increased 20.4 per cent for the first half to NOK
804.7 million. For the first six months, the operating profit ended
at NOK 78 million, an increase of 27.2 per cent compared with last
year.

"A good market and satisfied clients able and willing to invest,
combined with our committed and capable employees, made this a very
good quarter for us," says Sverre Hurum, CEO of Bouvet ASA.

Bouvet's operating costs, including depreciation, came to NOK 348.9
million for the second quarter, compared with NOK 304.3 million in
the same period of 2016. That represents an increase of 14.6 per
cent.

The EBIT margin for the second quarter was 9.5 per cent, down from
11.9 per cent in the second quarter last year.

Net profit came to NOK 28.3 million, compared with NOK 30.9 million
for the second quarter of 2016. Diluted earnings per share were NOK
2.72 for the quarter, compared with NOK 2.94 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