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Fourth quarter 2016: Norconsult showing solid growth in revenue

16. May 2017

Norconsult returned solid growth in revenue for the fourth quarter of 2016. Revenues in the fourth quarter amounted to NOK 1,237.8 million, with an operating profit of NOK 75.8 million. The operating margin came in at 6.1 per cent.

Per Kristian Jacobsen, CEO of Norconsult.
Per Kristian Jacobsen, CEO of Norconsult.

Revenues for 2016 totalled NOK 4,236.3 million (NOK 3,974.8 million in 2015), which represents an increase of 6.6 per cent on the previous year. The operating profit amounted to NOK 329.4 million, which was in line with the level for the previous year (-NOK 2.4 million), generating an operating margin of 7.8 per cent (2015: 8.3 per cent).

"We at Norconsult are highly satisfied with the development in turnover in 2016. The level of activity is high, and there are a great many exciting opportunities in the market. The slight dip in our operating profit is attributable to factors such as strong competition both in Norway and internationally, while hourly rates remain under pressure as well," relates Per Kristian Jacobsen, CEO.

Fully 20,000 assignments in Norway and abroad in 2016

Norconsult is the largest interdisciplinary consultancy company in Norway, and one of the leading players in its field in Scandinavia, providing services targeted in particular at regional planning and project design. In 2016, Norconsult completed more than 20,000 large and small assignments in 52 countries. Norconsult is experiencing a particularly high level of activity in the company's primary market areas: transport, and construction and property. For example, Norconsult and its partners Asplan Viak AS and Dr. Ing. A. Aas-Jakobsen AS won the consultancy commission for the joint Ringerike Line and E16 project in 2016, and picked up the first design and build contract for Nye Veier AS, E18 Arendal – Tvedestrand. In addition, the company is working on a number of large and complex projects such as an onshore power commission for Johan Sverdrup, the Greater Oslo Network Plan, the Intercity link between Tønsberg and Skien, and the Rv. 13 Ryfast connection.

Increased competitiveness

In 2016, Norconsult welcomed approximately 250 new employees to the company. Norconsult was named the most attractive employer of the year among technology students in the Career Barometer survey, and ranked second on the Universum Professional Survey.

Norconsult expanded its operations in 2016, acquiring the consultancy companies Anacon Rådgivning, BraCon, DeltaTek and Plan Urban in Norway. With new colleagues from these environments, the company has successfully boosted its interdisciplinary skill base and competitiveness. Norconsult also developed the international side of its business over the past year, launching operations in New Zealand and opening offices in Voss (Norway), Halmstad (Sweden) and Viborg (Denmark).

About Norconsult:
Norconsult is the largest interdisciplinary consultancy company in Norway, and one of the leading players in its field in the Nordic region, specialising in regional planning, project design and architecture. The company handles projects in the fields of construction and real estate, transport, energy, industry, water and sewage, oil and gas, the environment, planning, architecture, security and IT. Around 2,350 of the company's 3,250 employees work in Norway, and Norconsult has 88 offices in Norway and abroad. The company's head office is located in Sandvika, in the Municipality of Bærum. The company is owned by the employees.

 

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Benedicte Bratt Jakhelln
Senior Communications Advisor