Q4 2015: Norconsult posts record operating profit
10. May 2016
Norconsult enjoyed increased revenues and solid results in Q4 2015. Revenues in the fourth quarter amounted to NOK 1,141 million, with an operating profit of NOK 88 million for the quarter. The operating margin came in at an impressive 7.7 per cent.
In 2015, revenues reached NOK 3,975 million (NOK 3,842 million in 2014), which represents an increase of 3.4 per cent on the previous year. The company's operating profit for the year was NOK 332 million, which gives an operating margin of 8.4 percent (underlying 2014: 8.2 per cent).
"Norconsult is robust. We are moving into 2016 with the impetus to forge ahead, and we have succeeded in achieving the financial targets we set for ourselves at the beginning of the year. With revenues close to NOK 4 billion, Norconsult is consolidating its position as a market leader in Norway, and as a clear international challenger," explains CEO Per Kristian Jacobsen.
10,000 annual assignments at home and abroad
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.
"In 2015, we completed a number of important Norwegian assignments including Fornebuporten and the Concept Study Oslo Hub. We are also in the middle of a series of inspiring and exciting projects that will keep us busy well into the future, including InterCity, Rogfast Pluss and the Vamma power plant. Among our international assignments, particular mention can be made of power transmission projects in Botswana and the Sävehuset School project in Sweden," says Jacobsen.
Increased competitiveness ensures further growth
Norconsult aims to continue to grow, and at the outset of 2016, CEO Jacobsen has taken clear steps to ensure that the company will remain robust meeting with tomorrow's competition.
"Increased competitiveness will be essential to achieving profitable growth in the years ahead. We have set ourselves ambitious targets for the above as we enter our new strategy period 2016–2018. We plan to achieve growth in the Norwegian and international markets both organically and through acquisitions. Key elements of our strategy include an undiluted focus on our clients and the market, smarter work processes and organisational development. Together, all our improvement initiatives will help to boost the company's competitiveness moving forward," concludes Jacobsen.