Cancellation of proposed dividend – operational update

On the background of the ongoing COVID-19 pandemic, the Board of Directors of Multiconsult ASA has decided to cancel its proposal for dividend of NOK 1.00/share.

“The Board has taken this decision based on an overall assessment of the current situation and increased uncertainty caused by the COVID-19 pandemic in our society - and its consequences which are not possible to assess at this point in time”, says Bård Mikkelsen, Chair of Board of Multiconsult.

“Multiconsult has been taking all necessary and responsible measures to secure the health and safety of our employees and the society at large, while at the same time maintaining our deliveries and production, in close cooperation with our customers. So far I am pleased to see that we have been able to maintain a good level of production”, says Grethe Bergly, CEO of Multiconsult.

“Multiconsult has had a good first two months of the year both in terms of earnings and new sales. The COVID-19 pandemic will naturally have negative impact on our earnings, however, at this time it is not possible to assess its impact”, says Hans-Jørgen Wibstad, CFO of Multiconsult.

Faced with this new situation, Multiconsult is taking steps to secure the company operationally, strategically and financially. Today the company has announced temporary lay-offs of approx. 35 of its employees in Norway, mostly related to staff positions. It is expected that the number of temporary lay-offs will increase over the next weeks. The total number of employees in Multiconsult in Norway was approx. 2,400 at the end of 2019.

In line with our values and the challenges facing us, and the society, ahead, the executive management team has decided to reduce its salary by 20% for a period of three months.
 
 For further information, please contact:

   Hans-Jørgen Wibstad, CFO
   Phone: +47 916 89 661
   E-mail: hans-jorgen.wibstad@multiconsult.no

Media:
   Gaute Christensen, VP Communications
   Phone: +47 911 70 188
   E-mail: gaute.christensen@multiconsult.no
 

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.