Q3 2019: Profitable growth for Bouvet
Bouvet had operating revenues of NOK 460.9 million for the third quarter of 2019, compared with NOK 395.4 million in the same period of last year. Operating profit (EBIT) came to NOK 32.6 million, compared with NOK 20.1 million in the third quarter of 2018.
Operating revenues increased 17.7 per cent for the first nine months to NOK 1 543.5 million. For the same period, the operating profit ended at NOK 160.7 million, an increase of 27.1 per cent compared with last year.
“Our profitability is rising. The basis for this growth is that we are succeeding in recruiting and developing able people, developing services our clients require, and operating efficiently. We have been successful here for many years, and achieved good growth and profitability yet again in the third quarter,” says Sverre Hurum, CEO of Bouvet ASA.
Bouvet’s operating costs, including depreciation, came to NOK 428.3 million for the third quarter, compared with NOK 375.3 million in the same period of 2018.
The EBIT margin for the third quarter was 7.1 per cent, compared with 5.1 per cent in the third quarter last year. Net profit came to NOK 25.7 million, compared with NOK 15.4 million for the third quarter of 2018. Diluted earnings per share were NOK 2.49 for the quarter, compared with NOK 1.51 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