Oslo, 20 May 2026
Financial highlights:
The revenue decline was primarily driven by lower headcount while hourly rates increased in line with the consumer price index, reflecting disciplined commercial execution and recognised client value. Utilisation was impacted by long-term projects coming to an end, though improvement was seen as the quarter progressed. The EBIT margin was protected by flexible salary models but negatively impacted by reduced scale. The market in Q1 remained challenging, with high activity level in the public sector albeit pricing pressure and cautiousness in the private sector.
CEO comment:
"Q1 was a demanding quarter, and we are clear-eyed about the drivers. The reduction in headcount reflects both a deliberate strategic recalibration and a market where competition for talent is intense. What gives us confidence is the quality of what we are building: stronger commercial leadership, a sharper competence profile, and growing traction in AI-related work. We believe the worst of the headcount adjustment is behind us, and we expect gradual improvement through the second half of 2026," says CEO Kristine Lund.
Commercial highlights:
Outlook
Market conditions are expected to remain uncertain in the near term, with continued pricing pressure and cautious client behaviour likely to persist through at least the first half of 2026.