Business
Norway's Webstep Q1 revenue falls 11% on lower headcount, pricing pressure
Norway's Webstep Q1 revenue falls 11% on lower headcount, pricing pressure
About this update from Webstep As
OverviewNorway IT consultancy's Q1 revenue fell 11% yr/yr due to lower headcountEBIT margin dropped to 7.6% from 9.6%, impacted by reduced scaleCompany established dedicated AI team and signed new frame agreementsOutlookWebstep expects market uncertainty and pricing pressure to persist through H1 2026Company anticipates gradual improvement in business conditions in H2 2026Result DriversLOWER HEADCOUNT - Revenue decline was mainly driven by reduced headcount, according to the companyUTILISATION IMPACT - Utilisation was affected by long-term projects ending, though improvement was seen as the quarter progressedPRICING PRESSURE - Market remained challenging with continued pricing pressure and cautiousness in the private sectorCompany press release:Key DetailsMetricBeat/MissActualConsensus EstimateQ1 RevenueNOK 209.7 mlnQ1 EBITNOK 15.9 mlnAnalyst CoverageThe 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 agoFor questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .