Webstep ASA (WSTEP.OL), a provider of consultancy services, on Wednesday reported a decline in profit for the first quarter, impacted by reduced revenue.
Looking ahead, the company said it expects gradual improvement through 2026, mainly supported by the various measures the firm implemented.
The company said it sees market uncertainty in the near term, with pricing pressure and cautious client behaviour continuing through at least the first half of 2026. However, improvement is expected through the second half of the year as utilisation recovers and recruitment contributes to a gradually expanding revenue base.
For the first quarter, net profit declined to 11.24 million Norwegian Kroner or 0.43 Krone per share from 16.38 million Kroner or 0.63 Krone per share last year
EBITDA came in at 20.00 million Kroner compared to 26.95 million Kroner in the previous year. EBITDA margin was 9.5%, down from 11.4% last year.
Quarterly revenues dropped to 209.75 million Kroner from 236.36 million Kroner a year earlier, primarily driven by lower headcount.
The company's reported number of Full-Time Equivalent at the end of period was 386 compared to 444 last year.
Further, the board of directors proposed the Annual General Meeting on May 19 a dividend of NOK 1.49 per share.
On the Oslo Stock Exchange, shares of Webstep were losing 2.45 percent, changing hands at 15.90 Norwegian Kroner.
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