Continued growth and stable profitability in Norconsult
The positive development of growth and stable profitability continues for Norconsult in the second quarter of 2024. Norconsult's net sales ended at NOK 2.4 billion in the second quarter of 2024, corresponding to an organic revenue growth adjusted for calendar effects of 7.0 per cent from the same period in 2023. The growth was driven by higher number of employees and increased average billing rates.
"The activity level is at a similar level as we have seen in previous quarters, and we are pleased with the growth and underlying stability in profitability. In the quarter, we saw that high activity and healthy demand continued in the energy and industry market, and that infrastructure, with focus on transportation and water infrastructure, remains stable. There is still a weak and uncertain market for private buildings and architecture", says Egil Hogna, CEO of Norconsult.
Norconsult's adjusted EBITA ended at NOK 263 million in the second quarter of 2024, up from NOK 112 million in the same period in 2023, while the adjusted EBITA margin ended at 11.0 percent. The adjusted EBITA margin, taking into account the calendar effect of four more working days compared to the corresponding period in 2023, ended at 5.3 percent in the quarter.
For the first half of 2024, net sales increased by 7% to NOK 4.8 billion, and the EBITA margin adjusted for calendar effects ended at 10.9% compared to 11.1% in the same period in 2023.
Read the full stock exchange release at investor.norconsult.com
For further information, please contact:
Investors: Elin Spieler, Head of Treasury and IR Manager, elin.spieler@norconsult.com
Media: Henrik Charlesen, Senior Communication Advisor, henrik.charlesen@norconsult.com
About Norconsult
Norconsult is a leading pan-Nordic interdisciplinary consulting firm combining engineering, architecture and digital expertise across projects of all sizes, for private and public customers in infrastructure, energy and industry, buildings and architecture. Headquartered in Sandvika, Norway, Norconsult’s delivery model is centred around knowledge hubs and local presence through approximately 6,300 employees across around 140 offices in Norway, Sweden, Denmark, Iceland, Poland and Finland.
