Bouvet Q3 2015: Revenue growth for Bouvet in Q3
Oslo, 5 November 2015: Bouvet had in its third quarter of 2015 revenues of 256.8 million compared with NOK 242.3 million in the third quarter last year. Operating profit (EBIT) in the period was 6.6 million compared with 9.2 million the same period last year. For the first nine months Bouvet reports revenue growth of 9.8 percent to 899.5 million kroner. Operating income for the first nine months was NOK 73.2 million, an increase of 22.4 percent compared with last year.
- We are pleased to see continued revenue growth, but price pressures in the oil and gas affect margins during the quarter. Digitization of public and private sector continues at a rapid pace and Bouvet is often chosen as a supplier, says Sverre Hurum, CEO of Bouvet ASA.
Bouvet had in its third quarter of this year including depreciation of 250.1 million compared with NOK 233.1 million kroner in the third quarter of 2014. This represents an increase of 7.3 percent.
The EBIT margin in the third quarter was 2.6 percent, down from 3.8 percent in the third quarter of 2014. For the first nine months ended EBIT margin of 8.1 percent.
Profit after tax was NOK 4.3 million in the third quarter compared with 6.6 million in the same period of 2014. Diluted earnings per share for the quarter were 0.40 million compared with 0.61 million in the third quarter of 2014.
For further information:
- Sverre Hurum, CEO of Bouvet ASA Tel. +47 913 50 047
- Erik Stubø, Finance Director in Bouvet ASA Tel. +47 950 36 011