Webstep ASA: Third quarter results 2024

13 Nov 2024 07:00 CET

Oslo, 13 November 2024: Webstep ASA today reports revenues of NOK 189.4 million
(184.9) for the third quarter of 2024, a growth of 2.4 per cent compared to the
same period last year. EBIT was NOK 10.9 million (5.0), an increase of 118.0 per
cent, corresponding to an EBIT margin of 5.7 per cent (2.7).

"The overall momentum in Webstep is good, and we can see early positive effects
of the changes we are making throughout our organisation. In the third quarter,
we are happy with the continued growth in revenues and improved profitability.
This is a good achievement in a market with prolonged macroeconomic uncertainty,
particularly affecting our Oslo office. Our strong position in the energy sector
supports a better development in our regional offices on the west coast," says
CEO of Webstep Kristine Lund.

In the third quarter, Webstep concluded its divestment of Sweden, allowing full
focus on the Norwegian core market. The company has continued to streamline its
organisation and develop its leadership teams, including the appointment of
Henning Hesjedal, joining from Avanade.

"We have made several changes in our organisation and group structure over the
last couple of quarters, enhancing focus on sales and efficiency. Our employees
are our greatest asset, so we emphasise developing our commercial and social
culture. At the same time, I would like to reiterate that we have just started
on our journey to improve both with regards to growth and profitability," says
Kristine Lund.

Contact details for further information:

Nina Stemshaug, Interim CFO

Cell: +47 982 60 394

Email: ir@webstep.com

Website : 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.

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

More information:
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632004_Webstep_ASA_Q3_2024_report.pdf
632004_Webstep_ASA_Q3_2024_presentation.pdf