Good growth for Norconsult
In a market characterized by uncertainty Norconsult delivered strong growth in the second quarter. Norconsult reported NOK 1 859 million in net operating revenue, compared to NOK 1 671 million in the same period in 2021, which corresponds to a revenue growth of 11.3 percent. Net organic growth ended at around 9 percent.
– We are very satisfied with the growth in Norconsult in the second quarter, and there is a high level of activity in the group. At the same time, there is undoubtedly considerable uncertainty in the industry going forward, with geopolitical unrest, and high energy and material prices, says Egil Hogna, CEO of Norconsult.
Norconsult's operating profit before goodwill amortization (EBITA) ended at NOK 158 million in the second quarter of 2022 compared to NOK 167 million in the second quarter of 2021. The EBITA margin in the second quarter ended at 8.5 percent compared to 10 percent in the same period in 2021. The decrease is mainly due to a higher cost level after the pandemic, linked to more travel, courses, events and activities.
In the first half of 2021, Norconsult had net operating income of NOK 3 788 million, 12.1 percent higher than in the same period in 2021. Norconsult's EBITA was NOK 379 million in the first half of the year, compared to NOK 342 million in the same period in 2021.
During the second quarter, Norconsult signed several important contracts.
In April, Skanska Norge and Statens vegvesen signed the contract for the construction of project E103 Strand – Ramstadsletta, where Norconsult is the subcontractor. In June, Norconsult and its subsidiary Nordic – Office of Architecture won the assignment to design a new center for mental health at Norbyhagen AHUS. The project is being carried out as a turnkey project together with Skanska.
In Sweden Norconsult won a public tender to design two new public baths in Gothenburg. Participating technology areas are, architect, accessibility expert, acoustician, land/landscape architect, fire and CAD/BIM coordination.
Norconsult Denmark has, together with its subsidiary RUBOW Arkitekter, won a three-year framework agreement on architecture and technical consultancy with the Danish property company Domea.dk.
Norconsult currently has 5 300 employees, and the company has strong recruiting power of senior advisers and new employees.
In May, Norconsult was voted the industry's most attractive employer by the students. The ranking of Norway's most attractive employers is based on the students' career preferences and was published during the Universum Awards. Close to 11 000 students have had their say and named Norconsult the industry's best consultancy company.
– Overall, 2022 looks good, but at the same time there is a need to monitor the overall market going forward. Norconsult is well positioned for the future and there is a high demand for our broad expertise of consultancy services. Together with our customers, we build the society of the future, we further develop our services and expertise, and we attract new employees, says Egil Hogna.