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second quarter net operating revenues was NOK 986.8 million up 3.7 per cent y-o
-y, while other operating expenses were down 1.1 per cent to 107.2 million.
The foundation for continued good results in the first half of 2021 has been
solid operational performance. The order intake has been good with sales of NOK
1 080 million in the second quarter, which gives a stable order backlog of NOK 3
513 million. The strategic acquisition of leading engineering consultancy
Erichsen & Horgen is an important milestone and will be an important enabler for
continued growth.
Second quarter 2021
Net operating revenues came in at NOK 986.8 million (951.7) an increase of 3.7
per cent compared to the same period last year. Operating expenses increased by
3.1 per cent to NOK 824.5 million (799.4). Employee benefit expenses increased
by 3.8 per cent compared to the same quarter in 2020. Other operating expenses
decreased by 1.1 per cent to NOK 107.2 million (108.4), partly an effect from
the nextLEVEL improvement programme.
EBITDA was NOK 162.3 million (152.3), an increase of 6.6 per cent compared to
the same period last year, reflecting an EBITDA margin of 16.5 per cent (16.0)
in the period.
EBIT was NOK 114.6 million (102.5), reflecting an EBIT margin of 11.6 per cent
(10.8) in the period.
First half 2021
Net operating revenues increased by 1.1 per cent to NOK 1 965.9 million (1
945.3). Operating expenses increased by 1.9 per cent to NOK 1 656.9 million (NOK
1 625.3 million) driven by an increase in employee benefit expenses due to
regular salary adjustment for the workforce and lower social security costs in
the first half of 2020. Other operating expenses decreased by 5.2 per cent to
NOK 206.9 million, a reduction of NOK 11.5 million compared to same period last
year.
EBITDA was NOK 309.0 million (320.0), a decrease of 3.5 per cent compared to the
same period last year.
EBIT was NOK 213.1 million (219.9), a decrease of 3.1 per cent y-o-y, reflecting
an EBIT margin of 10.8%.
Order backlog at the end of the period remains solid at NOK 3 513 million.
The overall market outlook for Multiconsult’s services remains generally good or
stable across all business areas. The potential opportunities in the pipeline
are also at a good level in most business areas. Significant public sector
transport projects are expected to provide stable business opportunities, and
demand from the industry sector for “green” and sustainable projects is
increasing.
Together with the newly acquired Erichsen & Horgen, Multiconsult will continue
to focus on maintaining its industry leading competence, and further develop
solid customer relations and leading solutions, as well as excellent project
execution. The order backlog provides Multiconsult with a good foundation to
handle the continued uncertainties facing the economy and our industry.
For a full review of our report, please refer to our Second quarter and half
year 2021 report.
Presentation
The results will be presented in Norwegian at 08:30 (CET) through a live
webcast. Participants will have the opportunity to submit questions online
throughout the webcast session. An English presentation will be made at 09:30
(CET), followed by a Q&A session.
The presentations will be held by CEO Grethe Bergly and CFO Hans-Jørgen Wibstad.
Live webcasts, complete report and presentation will be available on our
website https://www.multiconsult-ir.com.
The Norwegian presentation at 08:30 (CET) can also be accessed at:
https://channel.royalcast.com/landingpage/hegnarmedia/20210818_4/
The English presentation at 09:30 (CET) can also be accessed at:
https://channel.royalcast.com/landingpage/hegnarmedia/20210818_5/
A recording of the webcast will be made available on our website immediately
afterwards.
For further information, please contact:
Investor relations:
Hans-Jørgen Wibstad, CFO
Phone: +47 916 89 661
E-mail: [email protected]
Media:
Gaute Christensen, VP Communications
Phone: +47 911 70 188
E-mail: [email protected]
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