#Norway #Oslo #2024 Performance #EBITA #Multiconsult ASA

Multiconsult's Robust Financial Performance in 2024

Multiconsult ASA has released its financial results for the fourth quarter and full year of 2024, demonstrating a solid operational performance amidst increasing market activities. For the fourth quarter, the company reported an EBITA of NOK 98.0 million, down from NOK 118.4 million from the previous year. However, when looking at the entire year, the EBITA climbed to NOK 523.4 million, a notable increase from NOK 419.5 million in 2023.

The results reflect a growing operational activity, evidencing strong demand for Multiconsult’s services. For the quarter, the EBITA margin was recorded at 6.8%, while for the year it reached 9.7%. A robust billing ratio of 72.5% was achieved, surpassing the 71.8% from the same quarter last year, contributing positively to revenue growth.

Key Financial Highlights

Fourth Quarter 2024:

• - Net Operating Revenues: NOK 1,443.3 million, marking a 6.0% increase year on year.
• - Organic Revenue Growth: Adjusted for calendar effects, the growth stood at 4.8%.
• - Strong Order Intake: NOK 1,798 million pushed the order backlog to NOK 4,851 million.
• - Full-Time Equivalents (FTE): Grew by 3.3%, totaling 3,639.
• - Net Profit: NOK 89.7 million, compared to NOK 112.9 million previously.

Full Year 2024:

• - Total Net Operating Revenues: NOK 5,383.6 million with year-over-year growth of 12.1%.
• - EBITA: NOK 523.4 million, a 24.8% increase from the prior year.
• - Earnings per Share: Increased to NOK 15.11 from NOK 11.56.
• - Order Intake: Totaled NOK 6,454 million, providing a strong foundation for future projects.

The fourth quarter's positive results were slightly tempered by increased operational expenses. Employee benefits saw a rise of 9.6% compared to the previous year, mainly influenced by salary adjustments and net recruitment initiatives. The overall operational expenses grew by 9.4%, largely driven by higher consultancy and IT costs.

Leadership Insights

CEO Grethe Bergly expressed satisfaction with the quarter's performance, highlighting the high demand for the company's competencies. She noted that the robust order intake represented the highest for a fourth quarter in the company's history. The company has built a diverse order backlog, particularly in high-demand sectors like energy and healthcare.

Reflecting on the company’s growth trajectory, Bergly remarked on the critical nature of their new strategy, 'Think Beyond', launched recently to emphasize enabling the green transition. She recognized the impactful roles played by teams in adapting to changing market dynamics and continuing to secure strategic positions.

Future Outlook

Looking ahead, Multiconsult is set to leverage its solid operational foundation and substantial order backlog to navigate future opportunities within the evolving market landscape. The steady demand within key sectors, especially in defense and energy, signals a promising outlook for 2025, despite challenges in the housing market.

The company anticipates that normal project write-downs will remain below 1% of net revenues for the coming fiscal year, a reflection of improved operational performance and risk management practices. As the firm continues to strengthen its presence in urban development and sustainable practices, it remains well-positioned to meet the evolving needs of its clients effectively.

For further analysis and insights from the CEO, interested parties can refer to the interim fourth quarter and full year reports available on Multiconsult’s investor relations page.