Q3 2025 Norconsult ASA Earnings Call Transcript
Key Points
- Norconsult ASA (OSL:NORCO) reported a 12% revenue growth in the third quarter, reaching approximately 1.7 billion NOK.
- The company achieved a 10% organic growth, driven by increased full-time equivalents (FTEs) and higher average billing rates.
- Employee ownership is strong, with approximately 4,100 employee shareholders, fostering a unique company culture.
- Norconsult ASA (OSL:NORCO) has a strong order book of 6.1 billion NOK, indicating a stable demand across its market segments.
- The company has maintained low employee turnover, highlighting a strong corporate culture and employee satisfaction.
- The billing ratio decreased to 71.4% from 72.3%, partly due to substantial senior recruitment in Sweden and weaker market conditions in private building and architecture.
- The architecture segment in Denmark underperformed due to a weak market, affecting the overall business performance.
- Seasonality impacts profitability, with the third quarter typically being weaker due to fewer working days and summer vacations.
- The private residential and non-residential building segments are experiencing weaker demand due to higher interest rates and inflation.
- Norconsult ASA (OSL:NORCO) faces strong price competition in the private residential market, impacting profitability.
Good morning, ladies and gentlemen.
Shareholders, and analysts and, others. My name's Egil Hogna. I'm the CEO of, Norconsult, and today we will, for the first time as a listed company present our third quarter results, 2023.
Before we start the presentation, I'd like to remind you about the opportunity to ask questions.
You can ask questions in the auditorium, live. You can ask questions on the web, in the chat. Please state your name and company if you represent a company, and you can also send an email to [email protected].
Questions will be answered after the presentation, which will be by myself and our CFO Doug Flombe.
I will present the highlights of the quarter, some, project updates and market update, and then our CFO will talk more about the finances.
On the 10th of November, we were listed on the Oslo Stock Exchange, and, I don't think any of you have seen the Oslo Stock Exchange as beautiful as it was that day with the Norconsult banners and lighting, designed by our, lighting
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