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Multiconsult's Fourth Quarter and Full Year 2025 Performance Overview

Multiconsult ASA concluded the year 2025 with steady performance, navigating through a tough market characterized by rising costs and heightened competition. As reported on February 10, 2026, the consultancy firm saw its net operating revenues climb by 5.4% to NOK 1,521.5 million for the fourth quarter, marking a testament to its ability to adapt and thrive under pressure. Furthermore, an organic revenue growth of 3.9% was achieved when adjusted for the calendar effects, showcasing the company’s strong operational foundation.

Key Financial Highlights

During this quarter, Multiconsult reported an order intake of NOK 1,636 million, feeding into an impressive order backlog of NOK 4,233 million. Despite the competitive landscape, the firm maintained a positive trajectory, although its EBITA witnessed a decline to NOK 74.9 million from NOK 98.0 million compared to the same quarter of the previous year. This brings the EBITA margin down to 4.9%. The overall EBITA for the year totaled NOK 394.8 million, translating to a margin of 7.0%. Despite this slight decline, the EBITA adjusted remained optimistic at NOK 92.9 million for Q4, as the company continued to implement corrective measures to address market pressures.

Management's Perspective

CEO Grethe Bergly emphasized the significance of the ongoing strategies aimed at enhancing profitability. “The strong measures we outlined last quarter to address these issues are being implemented as planned. Our ambition to strengthen profitability and improve the EBITA margin towards our long-term target of 10 percent remains firm,” she stated. This highlights Multiconsult’s commitment to navigating challenges while focusing on future growth targets.

Market Dynamics

The competitive market landscape in which Multiconsult operates continued to exert pressure on its billing ratio, which experienced a slight decline from 72.5% to 71.7%. The firm reported net profits of NOK 38.7 million for the fourth quarter, contrasting with NOK 89.7 million from last year. Earnings per share also saw a decrease, standing at NOK 1.48 compared to NOK 3.28 in the previous year. Despite these challenges, the company remains optimistic about the overall market outlook being stable, albeit with ongoing uncertainties.

Strategic Developments

A notable milestone for Multiconsult this quarter was the acquisition of 129 employees from ViaNova, introducing a wealth of expertise in transport and mobility to the organization. This strategic move not only strengthens Multiconsult's capabilities but also positions it as a future powerhouse within Norway's engineering environment for transportation. Bergly remarked, “With ViaNova onboard, we can now offer our clients Norway's strongest engineering environment within transportation.”

Furthermore, Multiconsult secured two new framework agreements with the Norwegian Defence Estates Agency, further reinforcing its position as a key player in delivering defense-related engineering and architectural services in the Nordic region. As security challenges heighten globally, the demand for resilient infrastructure rises, and Multiconsult is poised to meet this need effectively.

Looking Ahead

With the firm’s commitment to sustainability and robust strategic measures taking shape, Multiconsult is on the path to strengthen its market position. The board also proposed a dividend of NOK 5.00 per share, symbolizing confidence in future growth despite the current economic hurdles. A results presentation is scheduled for today at Hotel Continental in Oslo, which will provide more insights into the firm’s performance and future plans for both investors and stakeholders.

As Multiconsult braces for the year ahead, its steadfast resolve and adaptive strategies reflect a company ready to negotiate the complexities of the contemporary engineering market.