Webstep ASA (LTS:0TCZ)

kr 23.2 0 (0%) Market Cap: 609.09 Mil Enterprise Value: 731.98 Mil PE Ratio: 64.71 PB Ratio: 1.70 GF Score: 73/100

Q3 2020 Webstep ASA Earnings Call Transcript

Nov 11, 2020 / 08:00AM GMT

Release Date Price: kr22

Transcript

Arne Norheim

Webstep ASA - CEO

Welcome to our third quarter 2020 presentation of our results. My name is Arne Norheim, and I am the CEO of Webstep ASA. I will be presenting our results today, together with our CFO, Liv Annike Kverneland. We will not be answering questions at this presentation but feel free to send in your questions at [email protected], and we will respond as quickly as possible.

So let's get started. Now our agenda is unchanged from prior quarters. So let's just get right to it.

Revenue grew 6.5% with an EBIT growth of NOK 1.3 million. Sweden continues to do well and contributing to the revenue and EBIT growth. We did this while operating with a lower-than-normal utilization, driven by weak market conditions on the west coast in Norway, due in large part to the oil industry downturn. Utilization did improve throughout the quarter, and we're entering the fourth quarter closer to normal levels.

Now due to the uncertainty created by corona, we slowed our recruiting efforts in the second quarter. We deemed this necessary to ensure our focus was on keeping our staff

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