Bouvet reported Q3 EBIT of NOK 92m, coming in 6/9% below ARCe/consensus. The miss was driven by lower headcount and revenues. Although the FTE base increased by 17 q/q, the total headcount was still down y7y, reflecting continued market softness. Hourly rates rose 2.9% y/y, but billing rates declined 2.1pp y/y, underscoring weak demand. While the long-term implications of AI adoption remain uncertain, potentially reducing demand for junior consultants – we also see AI as a catalyst for new consu ....
