Oslo, 10 May 2016 - Group net operating revenues increased 18.0 per cent to NOK
653.9 million, compared to the same quarter last year. The increase in revenues
was mainly driven by NOK 89.5 million from LINK arkitektur AS, higher activity
within Buildings & Properties and Transportation & Infrastructure, and improved
billing ratio to 69.1 per cent. A significant calendar effect and lower activity
within Oil & Gas partly offset the growth in revenues this quarter.
Oslo, 10 May 2016 - Group net operating revenues increased 18.0 per cent to NOK
653.9 million, compared to the same quarter last year. The increase in revenues
was mainly driven by NOK 89.5 million from LINK arkitektur AS, higher activity
within Buildings & Properties and Transportation & Infrastructure, and improved
billing ratio to 69.1 per cent. A significant calendar effect and lower activity
within Oil & Gas partly offset the growth in revenues this quarter.
EBITDA for the quarter was NOK 58.3 million, a reduction of 31.4 per cent
compared to the same period last year. A calendar effect with the loss of three
working days due to the Easter holiday falling in the first quarter this year is
the main reason for the reduction.
"I am very pleased to see the continued improvement in the billing ratio. Even
with the significant calendar effect this quarter, it is very clear that the
underlying business continues to deliver at a satisfactory level", says CEO of
Multiconsult ASA Christian Nørgaard Madsen.
The order backlog at the end of fourth quarter remained strong and was NOK 1
744.7 million, an increase of 7.7 per cent year on year. Multiconsult's strong
market position was confirmed with order intake within all business areas. There
were extensions of existing contracts such as Hydro Karmøy Pilot Plant, Campus
Ås and Kampflybasen in Norway as well as Mt Coffee in Liberia. New contracts
awarded during the quarter include new hospital in Helsingborg in Sweden and
Årum bridge in Norway among other.
As of 31 March 2016, total assets amounted to NOK 1 244.7 million and total
equity of NOK 331.5 million. The group had cash and cash equivalents of NOK
122.7 million, while net interest bearing debt was negative NOK 114.4 million,
i.e. an asset.
The overall market outlook remains fairly robust. Strong outlook is expected
within Transportation & Infrastructure on both road and rail, while demand from
the oil and gas industry is likely to continue to remain at a low level due to
lower oil prices and investment activity on the Norwegian continental shelf. The
weak NOK is contributing to a better competitive position for Norwegian exports
and industry projects.
Multiconsult's strong market position, flexible business model and wide service
offering provides a sound base for further growth.
A presentation of the first quarter 2016 results will be held today, 10 May, at
09:00 CET at Hotel Continental, Stortingsgaten 24/26, Oslo. The presentation
will be held by CEO Christian Nørgaard Madsen and CFO Anne Harris.
A live webcast from the presentation can be accessed at www.multiconsult-ir.com
and http://webtv.hegnar.no/presentation.php?webcastId=33170504 .
For further information, please contact:
Investor relations:
Mirza Koristovic, Head of Investor Relations
Phone: +47 93 87 05 25
E-mail: ir@multiconsult.no
Media:
Gaute Christensen, VP Communications
Phone: +47 911 70 188
E-mail: gaute.christensen@multiconsult.no
ABOUT MULTICONSULT ASA
Multiconsult is a leading Norwegian multidisciplinary engineering consulting
company, with more than 2 100 employees and 45 offices in Norway and abroad. The
Company focuses on seven market areas: Buildings & Properties, Transport &
Infrastructure, Energy, Oil & Gas, Industry, Environment & Natural resources and
Architecture. The Company has an operating history that spans more than a
century, with the inception of Norsk Vandbygningskontor in 1908. In 2015
Multiconsult completed more than 9 000 projects for approx. 4 000 different
customers.
This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.