Bouvet reported EBIT of NOK 115m, 7/15% above ARCe/consensus, with lower revenue offset by lower costs and headcount. However, Q2 marked the third quarter in a row with negative FTE-growth q/q, as market conditions continue to weigh on new growth opportunities. Thus, we continue to see risk to consensus’ estimates, and are 4% below on 2026 EBIT. Additionally, growth within the energy sector has started to cool off, leaving further risk to estimates as this previously has outweighed weak demand i ....
