Sandvika, 20 August 2025 (OSE: NORCO): The income after external project costs
increased by 3 percent to NOK 2 468 million (2 399) in the second quarter. The
quarter was significantly affected by an Easter holiday calendar effect of three
working days less, negatively impacting income after external project costs and
adjusted EBITA with NOK 141 million. Adjusted for calendar effects, income after
external project costs increased by 9 percent, of which organic growth was 6
percent. Adjusted EBITA margin was 11.2 (11.0) percent for the quarter, adjusted
for calendar.
Highlights Q2 2025
· Income after external project costs was NOK 2 468 million (2 399)
· Significant negative calendar effects of NOK 141 million due to three
working days less this quarter compared with last year
· Organic growth of 6 percent adjusted for calendar effects
· Adj. EBITA was NOK 152 million (263) with an adj. EBITA margin of 6.2
percent (11.0)
· Adj. EBITA margin was 11.2 percent, adjusted for calendar effects
· Net profit of NOK 114 million (138)
· Earnings per share (EPS) NOK 0.37 (0.48)
Highlights H1 2025
· Solid growth in income after external project costs of 7 percent to NOK 5
105 million
(4 760)
· Negative calendar effects of NOK 20 million
· Organic growth of 6 percent adjusted for calendar effects
· Adj. EBITA was NOK 487 million (490) with an adj. EBITA margin of 9.5
percent (10.3)
· Adj. EBITA margin was 9.9 percent, adjusted for calendar effects
· Net profit of NOK 371 million (242)
· Earnings per share (EPS) NOK 1.23 (0.85)
Comments from CEO Egil Hogna:
"In the quarter, we experienced solid revenue growth and stable profitability,
mainly driven by an increase in employees and higher billing rates. We are
pleased with the positive development in billing ratio, especially in Norway
Regions. A major milestone in the quarter was the announcement of the
acquisition of the Aas-Jakobsen Group, which was completed on 6 August.
Norconsult and Aas-Jakobsen have collaborated well for many years, and this
acquisition is an important step in becoming one of the top three
interdisciplinary consultancy firms in the Nordics."
Outlook:
The overall market is expected to continue stable, but with continued
uncertainty linked to the international political situation.
The private market for Buildings & Architecture is still slow but there are
signs of optimism. However, it will likely still take some time before this
materialises into increased activity. The demand in Infrastructure is expected
to be stable going forward. We continue to expect a high level of activity in
the energy sector, and a more mixed development in other industry markets as
geopolitical factors may delay investment decisions in certain market areas.
Norconsult has considerable flexibility with a diversified mix of services and
end-market exposures in the Nordics. Most of the demand for our services comes
from the public sector. This makes Norconsult less exposed towards short-term
cyclicality in the economy in general.
Norconsult will continue to take proactive measures to improve underlying
profitability and maintain efficiency in selected parts of the business.
For detailed information, please see the attached report and presentation.
The company will present the results today at 09:00 CET at VIA - House of Oslo,
Ruseløkkveien 34, Oslo. The presentation will be held by CEO Egil Hogna and CFO
Dag Fladby. The results will also be presented online through a live webcast
where the participants will have the opportunity to submit questions.
The live webcast can be accessed at: https://qcnl.tv/p/5AxC_UHmQd_VR8T8nHC8Cw
For further information, please contact:
Investors: Christian Salbu Aasland, SVP Investor Relations & Business
Intelligence, IR@norconsult.com
Media: Henrik Charlesen, Senior Communication Advisor,
Henrik.Charlesen@norconsult.com
This information is considered to be inside information pursuant to the EUR
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
release was published by Elin Spieler, Head of Treasury and Investor Relations
Manager, Norconsult ASA at the date and time as set out above.
***
About Norconsult:
Norconsult is a leading pan-Nordic interdisciplinary consulting firm combining
engineering, architecture and digital expertise across projects of all sizes,
for private and public customers in infrastructure, energy and industry,
buildings and architecture. Headquartered in Sandvika, Norway, Norconsult's
delivery model is centred around knowledge hubs and local presence through
approximately 6,600 employees across more than 140 offices in Norway, Sweden,
Denmark, Iceland, Poland and Finland.