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cent, with EBIT stable at NOK 19.0 million.
While average hourly rates were higher than in the second quarter 2024,
reflecting Webstep’s ambition to maintain premium positioning in the market
despite price pressures, the revenue decline was primarily a result of a decline
in utilisation and a slight reduction in the number of consultants.
In recent quarters, Webstep has implemented its renewed strategy and achieved
significant milestones. The company has strengthened its sales organisation,
enhanced its executive management team and support functions, carried out a cost
reduction programme, and introduced a new visual identity to boost its market
visibility.
“We have an ambition of being the most performance-oriented and agile in the
industry, which means that we constantly must develop and change. Even though
the market is challenging, we prioritise long-term strategic goals over short
-term gains, and against this backdrop, we are satisfied with delivering
continued margin increase in the second quarter over Q2 2024. The margin
improvement is the result of the cost reduction programme completed in 2024, our
continuous focus on cost efficiency and the successful increase of average
rates,” says CEO of Webstep Kristine Lund.
Looking ahead, the enduring, long-term trends of digitalisation remain stable
both in the private and public sectors. In the near term, macroeconomic and
geopolitical volatility provides uncertainty. Underpinned by robust customer
relationships, deep expertise, and extensive experience in the strategic
application of AI, data, and insight technologies, Webstep is ideally positioned
to capitalise on any market recovery.
“While it takes time to reap the full benefits of our strategic shift, we are
confident that our renewed positioning will lead to growth and increased
profitability over time. Our cost base is lean, and once we return to a healthy
top-line growth we are well positioned to achieve our long-term goal of
exceeding a 10 per cent EBIT margin,” says Kristine Lund.
Contact details for further information:
Henning Hesjedal, CFO
Cell: +47 916 83 601
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.
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