Oslo, 27 February 2013: Bouvet ASA had operating 
revenues of NOK 280.5 million for the fourth quarter 
of 2012, up 8.7 per cent from NOK 258.1 million in 
the same period of 2011. Sales for the full year came 
to NOK 1 030.3 million. Operating profit (EBIT) for 
the fourth quarter was NOK 21.2 million, compared 
with NOK 25.3 million in the same period of 2011.

Sales grew by 14.8 per cent for the full year. Higher 
operating revenues for both fourth quarter and full 
year reflect a rise in hourly rates and increased 
consultancy sales.

"We focused in late 2012 on enhancing our billing 
ratio and on tailoring our expertise and services to 
market needs," says Sverre Hurum, CEO of 
Bouvet. "That's starting to yield results in the form 
of an improved billing ratio. We've also succeeded in 
increasing hourly rates and further reducing 
workforce turnover. Demand for digital solutions 
remains high."

Bouvet's operating costs for the fourth quarter came 
to NOK 259.3 million, up by 11.4 per cent from NOK 
232.8 million in the same period of 2011. The 
increase primarily reflects higher payroll costs as a 
result of additional recruitment and a general rise 
in pay over the past 12 months.

EBIT for the fourth quarter was NOK 21.2 million, 
compared with NOK 25.3 million in the same period of 
2011. The EBIT margin declined from 9.8 per cent in 
the fourth quarter of 2011 to 7.6 per cent. For the 
full year, EBIT fell 11.1 per cent from NOK 88 
million in 2011 to NOK 78.2 million.

Net profit came to NOK 14.7 million in the fourth 
quarter, down from NOK 18.1 million in the same 
period of 2011. Diluted earnings per share for the 
quarter were NOK 1.39, compared with NOK 1.72 million 
in the same period of 2011. Net profit for 2012 came 
to NOK 56.6 million, giving diluted earnings per 
share of NOK 5.35. That represents a reduction from 
2011, when net profit was NOK 63.9 million and 
diluted earnings per share came to NOK 6.06.

Further information from
Sverre Hurum, CEO, Bouvet ASA, tel: +47 913 50 047
Erik Stubø, CFO, Bouvet ASA, tel: +47 950 36 011

Bouvet ASA in brief
Bouvet is a Scandinavian company providing 
consultancy and development services for information 
technology, digital communication and enterprise 
management. It had 881 employees at 14 offices in 
Norway and Sweden at 31 December 2012. 

Bouvet is listed on the Oslo Stock Exchange under the 
ticker code BOUVET.