Q4 2018: Good results for Bouvet
Bouvet had operating revenues of NOK 535.4 million for the fourth quarter of 2018, compared with NOK 458.4 million in the same period of last year. Operating profit (EBIT) came to NOK 65.2 million, compared with NOK 49.1 million in the fourth quarter of 2017.
The 2018 operating revenues increased 14.9 per cent to NOK 1 846.7 million. For the full year, operating profit ended at NOK 191.6 million, an increase of 32.9 per cent compared with last year.
“The growing need for our expertise at clients contributed to continued progress. We recruited a number of able people, and we delivered good results yet again in this quarter.,” says Sverre Hurum, CEO of Bouvet ASA.
Bouvet’s operating costs, including depreciation, came to NOK 470.2 million for the fourth quarter, compared with NOK 409.3 million in the same period of 2017. That represents an increase of 14.9 per cent.
The EBIT margin for the fourth quarter was 12.2 per cent, up from 10.7 per cent in the fourth quarter last year.
Net profit came to NOK 53.5 million, compared with NOK 39.7 million for the fourth quarter of 2017. Diluted earnings per share were NOK 5.21 for the quarter, compared with NOK 3.82 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