Q3 2020: Profitable growth for Bouvet

Nov 10, 2020

Bouvet had operating revenues of NOK 518.9 million for the third quarter of 2020, compared with NOK 460.9 million in the same period of last year. Operating profit (EBIT) came to NOK 55.2 million, compared with NOK 32.6 million in the third quarter of 2019.

Operating revenues increased 13.8 per cent for the first nine months to NOK 1 756.2 million. For the same period, the operating profit ended at NOK 223 million, an increase of 38.8 per cent compared with last year.

“The world, society, enterprises and we as individuals face major challenges. Climate change demands a transformation. Covid-19 calls for changes and enterprises find their business models are under pressure. Our role in the future will be to help clients in their adaptation and development work. In line with our vision, we’ll be leading the way in this progress,” says Sverre Hurum, CEO of Bouvet ASA.

Bouvet’s operating costs, including depreciation, came to NOK 463.7 million for the third quarter, compared with NOK 428.3 million in the same period of 2019.

The EBIT margin for the third quarter was 10.6 per cent, compared with 7.1 per cent in the third quarter last year.

Net profit came to NOK 41.9 million, compared with NOK 25.7 million for the third quarter of 2019. Diluted earnings per share were NOK 4.04 for the quarter, compared with NOK 2.49 in the same period of last year.

At its meeting of 9 November 2020, the board of Bouvet ASA decided to exercise the mandate awarded by the general meeting and resolved to pay a supplementary dividend of NOK 8.25 per share for fiscal 2019. The share will be traded exclusive of dividend from 11 November 2020, with the dividend paid on 19 November 2020.

Further information from:

  • Sverre Hurum, CEO, Bouvet ASA, tel +47 913 50 047
  • Erik Stubø, CFO, Bouvet ASA, tel +47 950 36 011

Q3 report

Q3 presentation Webcast (Language: Norwegian)