Norconsult aims for listing on Oslo Børs
Norconsult, Norway’s largest and one of the top Nordic consulting companies within engineering, architecture and community planning, is preparing to apply for listing on Oslo Børs. The company has 5,600 co-workers and had a total net revenue of NOK 6.6 billion in 2021.
Norconsult's roots go back to 1929, when the company Engineer A. B. Berdal was established. A process has now been initiated in which the aim is to list the company's shares on Oslo Stock Exchange. A share listing can potentially be completed in 2023, if internal and external circumstances permit this.
Norconsult is an employee-owned company, and it is the shareholders who have voted for share listing as the most appropriate ownership model for the company going forward. During the extraordinary general meeting, held on Monday 9 January, 95 per cent of the votes present voted for a stock market listing.
– A share listing will strengthen Norconsult's position as the largest, and one of the top Nordic consulting companies for engineers, architects and community planners. A listing on Oslo Børs also allows the company to assess strategic opportunities that require financial flexibility to a greater extent, while at the same time safeguarding the interests of our skilled employees and the company's strong culture, says Nils Morten Huseby, chairman of the Board of Norconsult.
Creating tomorrow's society
Almost one hundred years after its establishment, Norconsult has approximately 5,500 employees across more than 130 offices in the main markets Norway, Sweden, and Denmark, as well as offices in Poland and Iceland.
– We are looking forward to a listing on the Oslo Stock Exchange and the exciting opportunities that will open up for Norconsult in the long-term. Investors will have the opportunity to invest in a company that every day improve everyday life by combining engineering, architecture and digital competence, and that, despite tough competition, has for years achieved good growth, solid margins and attractive dividends, says Egil Hogna, CEO of Norconsult.
Through acquisitions and strong organic growth, Norconsult has in recent years established significant businesses in Sweden and Denmark. In addition, the subsidiaries Nordic - Office of Architecture, Norconsult Informasjonssystemer and Technogarden are part of the group. These are strong brands with market-leading expertise in architecture, digitalization, and staffing services respectively.
Norconsult has important customers within transport, buildings, renewable energy, water, planning, digitalization, industry, environment and geotechnics as well as architecture.
Last year Norconsult launched an updated business strategy where one of the most important goals is to consolidate a stronger and more balanced position in the Nordics.
This means that Norconsult will strengthen its number one position in the Norwegian market, grow in Denmark and Sweden. In addition, stronger cooperation across national borders, sustainability, renewable energy, digitalization and innovation are top priorities in the current strategy period.
– Norconsult is a high competence company with a strong local presence. We work hard to attract, develop, and retain the best people while developing top expertise in our entire network. It helps us differentiate ourselves from our competitors to an even greater extent, and at the same time we continue our profitable growth, says Egil Hogna, CEO of Norconsult.
In recent years, Norconsult has increased its number of employees at a high pace, and according to a ranking by Universum, Norconsult was Norway's most attractive employer for consulting engineers in 2022, both among students and younger professionals.
For the second year in a row, Norconsult has also been awarded the status of "Karriäreföretag" in Sweden, which means that the company offers the best career and development opportunities to young talents. In Denmark, the business newspaper Børsen awarded Norconsult Denmark a Gazelle award this year due to high growth and good results over time.