Webstep reported 5.5% revenue growth in the first quarter of 2019, with 9.4% 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 ASA recorded consolidated all-time high revenues in the first quarter of 2019, amounting to NOK 184.4 million, up 5.5% from the same quarter last year. Revenues grew by 9.4% in the Norwegian market. EBITDA for the first quarter amounted to NOK 22.3 million, down 6.6% 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%, compared to 13.7% in the first quarter of 2018.
“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.
Mr. Norheim joined Webstep as CEO on the 31st of January this year.
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.
See link to press release: https://publish.ne.cision.com/v2.0/Release/ViewReleaseHtml/C92AADAB8B1EF708