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Q1 2017: Growth in Bouvet

May 19, 2017

Bouvet had operating revenues of NOK 419.1 million for the first quarter of 2017, compared with NOK 322.9
million in the same period of last year. Operating profit (EBIT) came to NOK 41.2 million, compared with NOK 20.3 million in the first quarter of 2016.

"The quarter proved our best-ever. Both turnover and profits were
record-high," says Sverre Hurum, CEO of Bouvet ASA.

Bouvet's operating costs, including depreciation, came to NOK 377.9
million for the first quarter, compared with NOK 302.6 million in
the same period of 2016. That represents an increase of 24.9 per
cent.

The EBIT margin for the first quarter was 9.8 per cent, up from 6.3
per cent in the first quarter last year.

Net profit came to NOK 31.5 million, compared with NOK 14.5 million
for the first quarter of 2016. Diluted earnings per share were NOK
3.04 for the quarter, compared with NOK 1.38 in the same period of
last year.