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Q2 2018: Strong market and good results

Aug 24, 2018

Bouvet had operating revenues of NOK 453.7 million for the second quarter of 2018, compared with NOK 385.7 million in the same period of last year. Operating profit (EBIT) came to NOK 55.7 million, compared with NOK 36.8 million in the second quarter of 2017. This quarter had two more working days compared with the same period of last year.

Operating revenues increased 13.8 per cent for the first six months to NOK 915.9 million. For the same period, the operating profit ended at NOK 106.3 million, an increase of 36.3 per cent compared with last year.

"Big investments in digitalisation and implementation of new technology led to increased demand for our expertise. We are therefore focusing attention on recruiting able new colleagues, and the number of "Bouveteers" is higher than ever today," says Sverre Hurum, CEO of Bouvet ASA.

Bouvet's operating costs, including depreciation, came to NOK 397.9 million for the second quarter, compared with NOK 348.9 million in the same period of 2017. That represents an increase of 14.1 per cent.

The EBIT margin for the second quarter was 12.3 per cent, up from 9.5 per cent in the second quarter last year.

Net profit came to NOK 42.9 million, compared with NOK 28.3 million for the second quarter of 2017. Diluted earnings per share were NOK 4.19 for the quarter, compared with NOK 2.72 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

Report Q2 2018

Presentation Q2 2018