Oslo ,15 February 2024 :Webstep ASA reports revenues ofNOK 262.1 million (NOK 246.4 million ) and a negative EBIT ofNOK 26.7 million (positiveNOK 11.8 million ) for the fourth quarter of 2023. EBIT is impacted by one-off costs atNOK 35.0 million . The anticipated value of future results in a declining Swedish market necessitates impairment of acquisition related goodwill for Webstep Sweden atNOK 25.0 million . In addition to severance packages for reductions in administrative staff and change of CEO that amounts toNOK 10 million . EBIT adjusted for these one-off costs isNOK 8.3 million for the quarter. Net profit for the fourth quarter was negative byNOK 28.1 million (positiveNOK 7.8 million ). For the full yearWebstep reports revenues ofNOK 1,000.0 million (NOK 888.4 million ). EBIT ended atNOK 18.5 million (NOK 54.6 million ). EBIT adjusted for one-off costs atNOK 35 million amounts toNOK 53.5 million for the full year. Net profit for the full year wasNOK 3.7 million (NOK 38.4 million ). - Our core task in the fourth quarter has been to establish a solid foundation for a stronger margin outlook going forward through organisational adjustments, a strong emphasis on sales and consistent business development. In a challenging year forNorway andSweden ,Webstep reached a turnover ofNOK 1 billion through teamwork and dedication. I am proud of this accomplishment, and it inspires me as we head into 2024, says CEOKjetil Bakke Eriksen . The Board of Directors intends to propose a dividend ofNOK 1.00 per share. The proposed dividend distribution will be on the agenda for the Company's annual general meeting to be held on16 May 2024 . Total equity on 31 December wasNOK 359.2 million (NOK 393.4 million ), corresponding to an equity ratio of 50.7 per cent (58.0 per cent). Cash and cash equivalents 31 December wereNOK 75.5 million (NOK 62.3 million ). The Group had a net free cash flow ofNOK 81.8 million (NOK 35.7 million ) for the fourth quarter. Contact details for further information:Ida Amalie Oma , CFO Cell: +47 906 30 276 Email: ir@webstep.com Website : www.webstep.comWebstep 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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