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NRC Group ASA – Q3 2024 results

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NRC Group ASA today published its financial results for the third quarter of 2024.

CEO Anders Gustafsson and CFO Åsgeir Nord will present the results at 09:00 am (CET) at House of Oslo, Ruseløkkveien 34, Oslo. 

The presentation will also be webcast live on the following link:

https://channel.royalcast.com/webcast/hegnarmedia/20241120_1

The presentation will be followed by a live Q&A-session. Investors, analysts and journalists are welcome to participate at House of Oslo or follow the presentation digitally, where questions can be submitted during the event.

Group highlights:

  • Revenue of NOK 2,103 million (NOK 1,844 million), EBIT adj. of NOK 40 million (NOK 80 million) and operating profit margin (EBIT adj. margin) of 1.9% (4.3%). There were no adjusting items for the quarter.
  • Operating cash flow of NOK -48 million (NOK 12 million), influenced by an increased net working capital. Net interest-bearing debt increased by NOK 114 million in the quarter to NOK 997 million. 
  • Order backlog of NOK 6,765 million (NOK 6,613 million) with a book-to-bill ratio of 0.5x in the quarter. Order intake of NOK 969 million (NOK 773 million). Tender pipeline in our core markets remains strong, with high activity levels aimed at strengthening the order backlog for 2025.
  • Good progress has been made in the change program in Finland, with a new organisational structure set to launch in January 2025
  • Mediation in the ETM (Electrification of Trønder- and Meråkerbanen) project is expected to resume in January 2025 
  • Improved underlying performance in Sweden. New Managing Director, Tomas Johansson, joined in September, completing the Swedish management team. 
  • Financial platform significantly strengthened through a private placement of NOK 200 million (with proceeds received during the first week of October), a subsequent repair issue of NOK 50 million, and renegotiated covenants with bank and bondholders 

The third quarter 2024 result report and result presentation can be found attached and will be available on the company’s homepage: www.nrcgroup.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Charlotte Krog, Communication, NRC Group ASA, on 23 May 2024.
 

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