Bouvet (BOUV) investor relations material

Executive summary

• Operating revenues reached NOK 975.0 million in Q2 2026, a 0.6% increase year-over-year.

• EBIT was NOK 122.3 million, with an EBIT margin of 12.5%.

• Profit for the period was NOK 92.9 million, down 3.0% from Q2 2025.

• Employee count rose to 2,403, up by 66 year-over-year (2.8%).

• New long-term contracts secured with the Norwegian Mapping Authority and Barentswatch; expansion into Ålesund and Kongsberg.

Financial highlights

• Net operating revenues for Q2 2026: NOK 975.0 million (up 0.6% y-o-y).

• EBIT: NOK 122.3 million (down 0.8% y-o-y); EBIT margin: 12.5% (down 0.2pp y-o-y).

• Profit for the period: NOK 92.9 million (down 3.0% y-o-y).

• EPS (fully diluted): NOK 0.90 (down 2.7% y-o-y).

• Cash flow from operations was NOK -54.6 million in Q2 2026, impacted by payroll tax timing and tax deduction handling.

Outlook and guidance

• Increased activity and more inquiries expected, with strong demand in oil, gas, renewables, and public sector.

• Growing demand for AI, digitalisation, and focus on business value, delivery quality, and security.

• Continued strong competition and improved access to expertise; emphasis on multidisciplinary teams and regulatory compliance.