Q4 2024 Multiconsult ASA Earnings Call Transcript
Key Points
- Multiconsult ASA (FRA:3MC) reported a 6% increase in net operating revenue for Q4 2024, reaching NOK 1.4 billion.
- The company achieved an organic growth rate of 4.8% and maintained a high billing ratio of 72.5%, an improvement from the previous year.
- The order intake for the fourth quarter was the highest ever for this period, amounting to NOK 1.8 billion, with a solid order backlog of NOK 4.9 billion.
- Multiconsult ASA (FRA:3MC) has a diversified portfolio and a strong presence in multiple countries, executing 15,000 projects annually for over 5,500 clients.
- The board of directors proposed a dividend of NOK 10 per share, reflecting confidence in the company's financial health and future prospects.
- EBITDA for Q4 2024 decreased by 17.2% compared to the previous year, with a margin drop from 8.7% to 6.8%.
- Increased employee benefit expenses and other operating costs negatively impacted the company's profitability.
- The Oslo region experienced a decrease in net operating revenue by 3.5% due to project control effects and organizational changes.
- Sick leave and parental leave posed challenges, contributing to a gap between full-time equivalents and the number of employees.
- The company faced challenging market conditions in certain regions, particularly in the Oslo market, leading to temporary layoffs.
Good morning and welcome to this presentation of the results for the 4th quarter and full year of 2024 for Multiconsult. My name is Grethe Bergly, and with me today I also have our CFO Ove [Ha].
Before we look at the results, just a brief reminder of who we are. We are a Norwegian consulting and architectural company with a history spanning back over 100 years.
We are primarily based in Norway, but we have offices in Sweden, Denmark, Poland, and the UK. We operate in four business areas, building and property, mobility, and infrastructure. Energy and industry and water and environment. We have four segments Regs Oslo, which is where the headquarters is in the capital of Norway, and two associated offices at Lillehammer and [Liliestrem].
Region Norway, which are the rest of the offices from north to south in Norway, segment architecture with our four architect subsidiaries, and then International, that contains our Swedish engineering subsidiary [Intero] and Multiconsult Polska.
We execute 15,000 projects on an
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