Norway's Webstep Q1 revenue falls 11% on lower headcount, pricing pressure

Webstep ASA

20/05/2026 06:10

Overview

Norway IT consultancy's Q1 revenue fell 11% yr/yr due to lower headcount

EBIT margin dropped to 7.6% from 9.6%, impacted by reduced scale

Company established dedicated AI team and signed new frame agreements

Outlook

Webstep expects market uncertainty and pricing pressure to persist through H1 2026

Company anticipates gradual improvement in business conditions in H2 2026

Result Drivers

LOWER HEADCOUNT - Revenue decline was mainly driven by reduced headcount, according to the company

UTILISATION IMPACT - Utilisation was affected by long-term projects ending, though improvement was seen as the quarter progressed

PRICING PRESSURE - Market remained challenging with continued pricing pressure and cautiousness in the private sector

Company press release: ID:nWkr7773Ys

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
NOK 209.7 mln
Q1 EBIT
NOK 15.9 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the it services & consulting peer group is "buy"

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)