Oslo 12 February 2020: Webstep ASA reports a year-on-year revenue increase of
0.9 per cent in the fourth quarter. The impact of higher capacity and increased
hourly rates was offset by lower revenues from subcontractors and lower
utilisation. Webstep is conducting a range of initiatives aiming to restore
growth. This impacted the EBITDA margin in the fourth quarter. The strong
financial position and positive outlook support a dividend proposal of NOK 1.60
per share.

Webstep recorded revenues in the fourth quarter of NOK 176.8 million, up 0.9 per
cent from the same quarter last year. Revenues were affected by increased
headcount and increased hourly rates year-on-year, which was offset by a
decrease in revenues from subcontractors. Revenues decreased by 0.4 per cent for
the full year compared to 2018 and ended at NOK 660.5 million, reflecting the
previously communicated situation with reduced capacity and fierce competition
for IT expert consultants.

- Webstep is well positioned to take market share moving forward. We enjoy a
strong position in an attractive growth market and enter 2020 with a very robust
order book. Our strategic platform and our strong initiatives to restore growth
are beginning to yield results, and we expect continued headcount growth in the
first quarter of 2020, says Arne Norheim, CEO of Webstep.

EBITDA for the fourth quarter amounted to NOK 12.0 million, down from NOK 17.5
million in the corresponding quarter of 2018. The fourth quarter EBITDA is
affected by costs related to strategic initiatives implemented to strengthen the
platform for future growth. Staffing up important functions within
communication, finance, sales and recruiting is an investment that will prepare
the organisation for growth.

- Our long-term ambition to exceed the market average in terms of revenue growth
and EBITDA margin remains unchanged. The strategic initiatives implemented to
strengthen the platform for future growth are needed to restore growth capacity,
says Arne Norheim.

The EBITDA margin was 6.8 per cent in the fourth quarter, down from 10.0 per
cent in the corresponding quarter of 2018. EBITDA margin for the full year 2019
was 9.1 per cent, compared to 11.9 per cent in 2018.

Net profit for the fourth quarter was NOK 5.2 million in 2019 and NOK 11.8
million in 2018. Net profit for the full year was NOK 36.1 million compared to
NOK 56.2 million for the full year 2018.

The financial position at 31 December was strong, with total equity of NOK 371.6
million, corresponding to an equity ratio of 66 per cent. Total equity at 31
December 2018 was NOK 376.6 million, and the equity ratio was 70 per cent. Cash
flow from operations in the fourth quarter amounted to NOK 18.6 million,
compared to NOK 68.1 million in the fourth quarter of 2018. Cash flow from
operations for the full year 2019 was NOK 41.8 million and NOK 91.9 million for
the full year 2018. Cash and cash equivalents at 31 December were NOK 25.5
million in 2019 and NOK 33.5 million in 2018.

Based on Webstep's solid financial position and positive outlook, the board of
directors intends to propose a dividend of NOK 1.60, representing 118 per cent
of the annual net profit of the Group for 2019.

Contact details for further information:

Liv Annike Kverneland, CFO

Cell: +47 911 51 110

Email : ir@webstep.com

Website :  (http://www.webstep.com)www.webstep.com

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. The company offers its services to more than 200
customers annually and has been recognised for its work environment.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.