While average hourly rates were higher than in the second quarter 2024, reflecting Webstep’s ambition to maintain premium positioning in the market despite price pressures, the revenue decline was primarily a result of a decline in utilisation and a slight reduction in the number of consultants.

In recent quarters, Webstep has implemented its renewed strategy and achieved significant milestones. The company has strengthened its sales organisation, enhanced its executive management team and support functions, carried out a cost reduction programme, and introduced a new visual identity to boost its market visibility.

“We have an ambition of being the most performance-oriented and agile in the industry, which means that we constantly must develop and change. Even though the market is challenging, we prioritise long-term strategic goals over short-term gains, and against this backdrop, we are satisfied with delivering continued margin increase in the second quarter over Q2 2024. The margin improvement is the result of the cost reduction programme completed in 2024, our continuous focus on cost efficiency and the successful increase of average rates,” says CEO of Webstep Kristine Lund.

Looking ahead, the enduring, long-term trends of digitalisation remain stable both in the private and public sectors. In the near term, macroeconomic and geopolitical volatility provides uncertainty. Underpinned by robust customer relationships, deep expertise, and extensive experience in the strategic application of AI, data, and insight technologies, Webstep is ideally positioned to capitalise on any market recovery.

“While it takes time to reap the full benefits of our strategic shift, we are confident that our renewed positioning will lead to growth and increased profitability over time. Our cost base is lean, and once we return to a healthy top-line growth we are well positioned to achieve our long-term goal of exceeding a 10 per cent EBIT margin,” says Kristine Lund.