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Q3 2017: Profitable growth in a good market

Nov 9, 2017

Bouvet had operating revenues of NOK 344.2 million for the third quarter of 2017, compared with NOK 280.4 million in the same period of last year. Operating profit (EBIT) came to NOK 17.1 million, compared with NOK 12.1 million in the third quarter of 2016. This quarter had one less working day compared with the same period of last year.

"Digitalisation is continuing, and assignments during the quarter reveal increasing demand for our services from clients," says Sverre Hurum, CEO of Bouvet ASA.

Bouvet's operating costs, including depreciation, came to NOK 327.2 million for the third quarter, compared with NOK 268.3 million in the same period of 2016. That represents an increase of 22 per cent.

The EBIT margin for the third quarter was 5 per cent, up from 4.3 per cent in the third quarter last year.

Net profit came to NOK 12.5 million, compared with NOK 8.2 million for the third quarter of 2016. Diluted earnings per share were NOK 1.22 for the quarter, compared with NOK 0.80 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