Third quarter 2015: Solid results from a high level of activity
02. December 2015
Norconsult delivered revenue growth and solid results in the third quarter; with revenues at NOK 826 million and operating profit at NOK 79 million. The operating (EBIT) margin ended at a solid 9.6%.
So far this year revenues amount to NOK 2 834 million, while the operating profit is NOK 244 million and the operating (EBIT)margin 8.6%.
"We are very pleased to deliver turnover growth and solid results in a market where the competition is intensifying and the hourly rates are under pressure. We have a high level of activity in Norconsult and the company is involved in exciting assignments in Norway and internationally," comments Per Kristian Jacobsen, Group CEO.
Norconsult is Norway's largest, and one of the Nordic region's leading, interdisciplinary engineering and design consultancy firms. The company delivers services focused on community planning and design. In 2014 Norconsult acquired the Trondheim-based firm of architects, Solem Arkitektur AS. After operating as a separate company for about a year, the 50 employees from Solem Arkitektur became fully integrated in Norconsult from 1st October this year.
Each year Norconsult carries out more than 10,000 assignments, both large and small, in Norway and internationally. Among the important assignments in the current year has been technical advisory in connection with the construction of the world's longest undersea tunnel, Rogfast, for the Norwegian Public Roads Administration. The project forms part of a national plan to build the E39 route along the Atlantic coastline from Kristiansand to Trondheim without any ferry connections, and at the same time it is the largest environmental project in road building in Norway. Norconsult is also technical adviser for Lyse in connection with the development of the Lysebotn II power station. When the Norwegian National Rail Administration, the Norwegian Public Roads Administration and Ruter recently published recommendations on developing the public transport network in Oslo, Norconsult was the main advisor for the concept study. Norconsult is also working on the InterCity rail project (Tønsberg-Larvik and Porsgrunn-Skien) for the Norwegian National Rail Administration. This is a very large project with over 50 km of new rail lines and a number of stations.
"Even though the competition in the market is intensifying, we still expect a high level of activity going forward. Tomorrow's winners are the companies that are able to recruit and retain the most skilled employees," adds Jacobsen.
Per Kristian Jacobsen, Group CEO, Norconsult