Multiconsult ASA expects to report a small negative EBIT for the fourth quarter
2017. The main reason is challenging project execution in the Greater Oslo Area
and Regions Norway segments, resulting in net write-downs of approximately NOK
20 million in the quarter. These project write-downs relate to many individual
projects.
In 2017 as a whole, project execution has improved compared to 2016. However,
project execution in the fourth quarter 2017 was particularly challenging,
affecting the results for the quarter negatively. As in previous quarters in
2017, low billing ratio and high operating expenses in Norway continue to have a
negative impact on earnings in the fourth quarter. A comprehensive profitability
improvement program is currently being launched and some specific measures such
as tighter resource management, are already implemented. The program focuses
primarily on improving operations in the Greater Oslo Area and Regions Norway.
Further information about the profitability improvement program will be
presented at the fourth quarter 2017 earnings release.
Multiconsult ASA's fourth quarter 2017 results will be released on Wednesday 28
February at 07.00 CET. The complete report and presentation will be available at
www.multiconsult-ir.com and www.newsweb.no.
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
Multiconsult is a leading Norwegian multidisciplinary engineering consulting
company, with more than 2 800 employees and 45 offices in Norway and abroad. The
Company focuses on six business areas: Buildings & Properties, Transport,
Renewable Energy, Oil & Gas, Industry and Water & Environment. The Company has
an operating history that spans more than a century, with the inception of Norsk
Vandbygningskontor in 1908.