Multiconsult fourth quarter 2015 results

Oslo, 26 February 2016 - EBITDA for the quarter was NOK 51.2 million, in line with the fourth quarter last year. Higher billing ratio and good project execution were offset by low contribution from subsidiaries. For the year 2015 as a whole, EBITDA* was NOK 263.4 million, an increase of 6.9 per cent from the previous year.

Group net operating revenues increased by 21.6 per cent to NOK 649.4 million, LINK arkitektur AS contributing by NOK 85.4 million. In addition, the increase in net operating revenues was mainly driven by high activity within Buildings & Properties and Transportation & Infrastructure, higher billing ratio and good project execution. For the year 2015 as a whole, net operating revenues increased by 13.1 per cent to NOK 2 247.7 million.

"I am very pleased to see that we are on our way to reaching our strategic goals for 2017. We are delivering a margin of 10.0 per cent, revenue growth of 13.1 per cent and a strong visibility in the market", says Mr Christian Nørgaard Madsen, CEO of Multiconsult ASA.

The Board of Directors will propose to the annual general meeting a dividend of NOK 2.90 per share for 2015. This is in line with the company’s dividend policy of distributing as dividend at least 50 per cent of net income.

Order backlog at the end of fourth quarter remained strong with an increase of 14.6 per cent from fourth quarter last year to NOK 1 727.5 million. Multiconsult won contracts within all business areas during the quarter, confirming the company's strong competitive position. Additions to existing contracts such as Intercity Haug-Halden, Campus Ås, Kampflybasen and Nyhamna in Norway, together with new international contracts such as the Energy project Devoll hydropower, contributed positively to the order backlog.

The company successfully completed the share purchase programme for employees in the fourth quarter, where 777 employees subscribed for shares. The result was an over-subscription and per 31 December the employees represented 22 per cent of the share ownership in the company.  "It is very encouraging that so many employees have participated and especially positive that employees across the Multiconsult Group have chosen to participate in the share purchase programme", says Mr Christian Nørgaard Madsen, CEO of Multiconsult ASA.

The Group's financial position at 31 December 2015 was strong, with total assets of NOK 1 257.6 million and total equity of NOK 350.2 million. Cash and cash equivalents amounted to NOK 233.0 million, while net interest bearing debt was negative NOK 223.2 million, i.e. an asset.

The overall market outlook remains fairly robust. Strong outlook is expected within transportation and infrastructure on both road and rail, while demand from the oil and gas industry is likely to continue to remain at a low level due to lower oil prices and investment activity on the Norwegian continental shelf. The weaker NOK is contributing to a better competitive position for Norwegian exports and industry projects.

Multiconsult's strong market position, flexible business model and wide service offering provides a sound base for further growth.

A presentation of the fourth quarter 2015 results will be held today, 26 February, at 09:00 CET at Hotel Continental, Stortingsgaten 24/26, Oslo. The presentation will be held by CEO Christian Nørgaard Madsen and CFO Anne Harris. A live webcast from the presentation can be accessed at www.multiconsult-ir.com and http://webtv.hegnar.no/presentation.php?webcastId=29502098.

*Underlying, adjusted for IPO expenses

For further information, please contact:

Investor relations: 
   Mirza Koristovic, Head of Investor Relations        
   Phone: +47 93 87 05 25         
   E-mail: ir@multiconsult.no

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

ABOUT MULTICONSULT ASA
Multiconsult is a leading Norwegian multidisciplinary engineering consulting firm, with more than 2 000 employees and 45 offices in Norway and abroad. Multiconsult’s home market is Norway, representing 92 per cent of 2014 operating revenues. The Company focuses on six market areas: Buildings and Properties, Transport and Infrastructure, Energy, Oil and Gas, Industry and Environment and Natural resources. The Company has an operating history that spans more than a century, with the inception of Norsk Vandbygningskontor in 1908. In 2014 Multiconsult completed more than 8 000 projects for approx. 3 700 different customers.

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