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Q4 2016: Strong results for Bouvet

Bouvet had operating revenues of NOK 382.3 million for the fourth quarter of 2016, compared with NOK 333.0
million in the same period of last year. Operating profit (EBIT) came to NOK 32.9 million, compared with NOK 26.1 million in the fourth quarter of 2015.

The 2016 operating revenues increased 8.0 per cent to NOK 1330.8 million. For the full year, operating profit ended at NOK 106.3 million, an increase of 7.0 per cent compared with last year.

"The high demand continued in the fourth quarter. Because of this, EBIT for the fourth quarter increased with 26 per cent compared to the same period of 2015. This year's revenue and profit is the highest ever," says Sverre Hurum, CEO of Bouvet ASA.

Bouvet's operating costs, including depreciation, came to NOK 349.4 million for the fourth quarter, compared with NOK 306.9 million in the same period of 2015. That represents an increase of 13.8 per cent.

The EBIT margin for the fourth quarter was 8.6 per cent, compared with 7.8 per cent in the same period of last year.

Net profit for the fourth quarter came to NOK 26.3 million, up from NOK 20.7 million in the same period of 2015. Diluted earnings per share were NOK 2.54 for the quarter, compared with NOK 1.98 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