Webstep reports 5.5 per cent revenue growth in the first quarter of 2019, with
9.4 per cent growth in the Norwegian market alone. The order book remains strong
and recruitment remains a number-one priority to meet the continued high demand
for IT expertise.
"Webstep's employees have delivered an impressive first quarter with record high
revenues. I have just joined a great company with a strong market position and
exciting opportunities ahead. We are privileged to operate in a growth market
and will strive to satisfy our customers' increasing demands by attracting and
retaining experienced technology experts", says CEO Arne Norheim.

Webstep ASA ("the Group" or "Webstep") recorded consolidated all-time high
revenues in the first quarter of 2019, amounting to NOK 184.4 million, up 5.5
per cent from the same quarter last year. Revenues grew by 9.4 per cent in the
Norwe­gian market.

EBITDA for the first quarter amounted to NOK 22.3 million, down 6.6 per cent
from NOK 23.9 million in the corresponding quarter of 2018. Main reasons for the
reduced EBITDA are increased use of subcon­tractors and CEO recruitment costs.
The EBITDA-margin ended at 12.1 per cent, compared to 13.7 per cent in the first
quarter of 2018.

The new reporting standard IFRS 16 Leases was implemented on 1 January 2019 and
had a positive EBITDA effect of NOK 1.2 million. Such effects will be recurring
effects, as lease costs have been reclassified from operating expenses to
depreciation and finance costs following the new reporting standard.

Net profit for the first quarter was NOK 15.4 million, down from NOK 17.7
million in the same quarter last year.

The financial position remains strong, with cash and short-term deposits of NOK
25.6 million (NOK 7.5 million), no interest bearing debt and total equity at 31
March of NOK 389.1 million (NOK 371.1 million), corresponding to an equity ratio
of 66 per cent (69 per cent) before the provision for dividend of NOK 1.60 per
share, which was approved by the Annual General Meeting 8 May 2019.

Cash flow from operations in the first quarter was NOK -6.4 million, compared to
NOK 23.9 million last year. The reduction is mainly explained by calendar
effects related to which weekday receivables are falling due.

The market growth continues, with generally high demand for Webstep's core
digitalisation offering. Sales of New Ser­vices, such as IoT, analytics and
machine learning are also growing, in part due to the Group's strong emphasis on
sharing knowl­edge and expertise across the organisation, which is also
strengthening the offering to existing and new clients in all Webstep locations.

On 31 January 2019, Webstep announced that Arne Norheim was appointed new CEO of
the Webstep Group, assuming the position on 2 May 2019.

The Group's great work environment and internal culture has once again been
confirmed by the feedback from the employees in the Great Place to Work® survey.
Webstep enjoyed high rankings in both Norway and Sweden in the 2019 awards.
Webstep aims to maintain a position among the preferred employers for IT
professionals in all its geographical locations. This focus is key in order to
succeed with the organic growth and recruitment strate­gies in 2019.

The geographical expansion continued in the first quarter, with the opening of a
new Webstep office in Sundsvall, Sweden.

The general outlook for 2019 is positive. Webstep has a strong market position,
a solid financial position and a very robust order book. Demand is high and
hourly rates are increasing, but growth capacity in 2019 will be challenged by
an already high utilisation and the continuously challenging market conditions
for recruitment of IT experts.

"Although our growth capacity is limited in the short term, there should be no
doubt that our overall and long-term goals remain the same; to outperform the
market in both growth and profitability", says Norheim.

Webstep has identified several measures to re-establish growth capacity,
hereunder new measures to retain employees, strengthen recruitment capacity, and
leverage new geographic expansions. The company also intends to pursue inorganic
growth opportunities and continue strength­ening the partnerships with world
-leading technology platforms. These initiatives are expected to contribute to
building a new and robust platform for future growth, which supports Webstep's
long-term ambitions.
Contact details for further information:

Arne Norheim CEO / Liv Annike Kverneland CFO

Cell IR/CFO: +47 911 51 110

Email: ir@webstep.com

Website: www.webstep.com
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Webstep ASA is a provider of consultancy services to the private and public
sector, with the IT expertise necessary to deliver the most demanding
digitalisation and IT services.The Webstep Group employs approximately 400
employees in Norway and Sweden, of which more than 360 are expert consultants.
Since its establishment in 2000, Webstep has delivered profitable growth. The
company offers its services to more than 200 customers annually and has been
recognised for its work environment.