Q1 2016: Norconsult posts solid operating profit
14. May 2016
Norconsult returned good results for the first quarter of 2016. “We are very pleased to deliver such a solid operating profit in a market with increasingly tough competition,” says CEO Per Kristian Jacobsen.
First quarter revenues amounted to NOK 1,008 million (down NOK 5.6 million, which can be attributed Easter holidays coming early this year), with an operating profit of NOK 76.1 million (NOK 69.9 million). The operating margin came in at a robust 7.5 per cent (6.9 per cent) for the first quarter of 2016.
"We note with great satisfaction that our operating margin has improved compared with the first quarter of 2015. Not only that, but we have managed to achieve these results in a market where rates are under pressure and we have noticed increasingly tough competition. We are experiencing a high level of activity within transport, energy, industry, building and construction. Norconsult has the ability to adapt to a competitive market and to stay at the forefront of market developments," says CEO Per Kristian Jacobsen.
High level of activity
Some of the major projects that Norconsult is currently involved in include InterCity, the Vamma power plant and Rogfast Pluss. Also in the first quarter, Norconsult signed a framework agreement with the municipality of Bærum for multidisciplinary consulting and a contract for a technical feasibility study of the ship tunnel at Stad. So far this year, Norconsult and its subsidiaries have signed a number of framework agreements, including with Statoil, Lundin Norway AS and Swedegas AB.
In March of this year, Fauskanger Elementary School, whose grounds were designed by Norconsult's landscape architects, received Askøy Municipality's Award for Building and Design, which is awarded every two years.
Norconsult is Norway's largest and one of the Nordic region's leading interdisciplinary consultancy firms, delivering services within regional planning and project design. Each year Norconsult performs more than 10,000 assignments, both small and large, in Norway and abroad.