Webstep recorded revenues in the first quarter of NOK 194.2 million, up from NOK 183.0 million in the first quarter last year. Revenue growth was driven by increased headcount, higher utilization and higher hourly rates. EBIT for the first quarter amounted to NOK 18.1 million, up from NOK 13.1 million in the corresponding quarter last year. The EBIT margin for the first quarter was 9.3 percent, up from 7.1 percent in the first quarter last year. Net profit came to NOK 13.6 million, compared with NOK 9.6 million in the same period last year. 

- As a result of a strong market and a broad set of services offered, Webstep continues to grow in the first quarter. We are also pleased to see that Webstep continues to attract well-qualified IT experts, which is essential to develop further, says CEO of Webstep ASA, Save Asmervik.

Webstep had 435 employees at the end of the first quarter, up by 20 from the previous quarter. 

The financial position 31 March was strong, with total equity of NOK 388.7 million (NOK 389.3 million), corresponding to an equity ratio of 63.0 percent (64.8 percent). Cash and cash equivalents 31 March were NOK 45.5 million (NOK 39.1 million). The Group had a net free cash flow of NOK 7.4 million (NOK 15.5 million) in the first quarter.