Multiconsult first quarter and first half result 2024 - very strong performance
Multiconsult ASA (OSE: MLTCY) reported strong Q2 2024 results with EBITA of NOK 185.7 million, up 234.1% year-over-year, and an EBITA margin of 13.0%. Net operating revenues increased by 23.5% to NOK 1,424.9 million, with organic revenue growth of 11.4% adjusted for calendar effects. The company achieved a record-high billing ratio of 73.8%, up 1.7 percentage points from Q2 2023. Order intake was solid at NOK 1,531 million, maintaining a stable order backlog of NOK 4,943 million. For H1 2024, Multiconsult reported net operating revenues of NOK 2,791.8 million, up 13.3% year-over-year, and EBITA of NOK 322.4 million, reflecting an 11.5% margin. The company's outlook remains positive, with anticipated high activity levels across various sectors.
Multiconsult ASA (OSE: MLTCY) ha riportato risultati solidi nel secondo trimestre del 2024, con un EBITA di 185,7 milioni di NOK, in aumento del 234,1% rispetto all’anno precedente, e un margine EBITA del 13,0%. I ricavi operativi netti sono aumentati del 23,5% raggiungendo 1.424,9 milioni di NOK, con una crescita organica dei ricavi dell’11,4% al netto degli effetti di calendario. L'azienda ha raggiunto un rapporto di fatturazione record del 73,8%, in aumento di 1,7 punti percentuali rispetto al Q2 2023. Gli ordini ricevuti sono stati solidi, ammontando a 1.531 milioni di NOK, mantenendo un portafoglio ordini stabile di 4.943 milioni di NOK. Per il primo semestre del 2024, Multiconsult ha riportato ricavi operativi netti di 2.791,8 milioni di NOK, con un aumento del 13,3% rispetto all’anno precedente, e un EBITA di 322,4 milioni di NOK, riflettendo un margine dell’11,5%. Le prospettive dell'azienda rimangono positive, con livelli di attività previsti elevati in vari settori.
Multiconsult ASA (OSE: MLTCY) reportó resultados sólidos en el segundo trimestre de 2024, con un EBITA de 185,7 millones de NOK, un aumento del 234,1% en comparación con el año anterior, y un margen EBITA del 13,0%. Los ingresos netos operativos crecieron un 23,5% alcanzando 1.424,9 millones de NOK, con un crecimiento orgánico de ingresos del 11,4% ajustado por efectos de calendario. La empresa logró un índice de facturación récord del 73,8%, un incremento de 1,7 puntos porcentuales respecto al segundo trimestre de 2023. La entrada de pedidos fue sólida con 1.531 millones de NOK, manteniendo un backlog de pedidos estable de 4.943 millones de NOK. Para la primera mitad de 2024, Multiconsult reportó ingresos netos operativos de 2.791,8 millones de NOK, un aumento del 13,3% en comparación con el año anterior, y un EBITA de 322,4 millones de NOK, reflejando un margen del 11,5%. Las perspectivas de la empresa siguen siendo positivas, con niveles de actividad anticipados elevados en varios sectores.
Multiconsult ASA (OSE: MLTCY)는 2024년 2분기에 강력한 결과를 보고했습니다. EBITA는 1억 8570만 NOK로 전년 대비 234.1% 증가했으며, EBITA 마진은 13.0%입니다. 순 운영 수익은 23.5% 증가하여 14억 2490만 NOK에 달했으며, 달력 효과를 조정한 유기적 수익 성장률은 11.4%입니다. 이 회사는 청구 비율 73.8%라는 기록적인 성과를 달성했으며, 이는 2023년 2분기 대비 1.7% 포인트 증가한 수치입니다. 주문 intake는 1,531백만 NOK로 안정적인 주문 잔고 4,943백만 NOK를 유지했습니다. 2024년 상반기에 Multiconsult는 순 운영 수익 27억 9180만 NOK로 전년 대비 13.3% 증가했으며, EBITA는 3억 2240만 NOK로 11.5%의 마진을 반영합니다. 이 회사의 전망은 다양한 부문에서 높은 활동 수준이 기대되는 긍정적입니다.
Multiconsult ASA (OSE: MLTCY) a rapporté des résultats solides pour le deuxième trimestre 2024, avec un EBITA de 185,7 millions de NOK, en hausse de 234,1 % par rapport à l'année précédente, et une marge EBITA de 13,0 %. Les revenus nets d'exploitation ont augmenté de 23,5 % atteignant 1.424,9 millions de NOK, avec une croissance organique des revenus de 11,4 % ajustée pour les effets de calendrier. L'entreprise a atteint un rapport de facturation record de 73,8 %, en hausse de 1,7 point de pourcentage par rapport au T2 2023. Les commandes reçues étaient solides à 1.531 millions de NOK, maintenant un carnet de commandes stable de 4.943 millions de NOK. Pour le premier semestre 2024, Multiconsult a rapporté des revenus nets d'exploitation de 2.791,8 millions de NOK, en hausse de 13,3 % par rapport à l'année précédente, et un EBITA de 322,4 millions de NOK, reflétant une marge de 11,5 %. Les perspectives de l'entreprise restent positives, avec des niveaux d'activité élevés attendus dans divers secteurs.
Multiconsult ASA (OSE: MLTCY) hat im zweiten Quartal 2024 starke Ergebnisse veröffentlicht, mit einem EBITA von 185,7 Millionen NOK, was einem Anstieg von 234,1 % im Jahresvergleich entspricht, und einer EBITA-Marge von 13,0 %. Die Nettobetriebseinnahmen stiegen um 23,5 % auf 1.424,9 Millionen NOK, mit einem organischen Umsatzwachstum von 11,4 %, bereinigt um Kalendereffekte. Das Unternehmen erreichte ein rekordhohes Abrechnungsverhältnis von 73,8 %, was einem Anstieg von 1,7 Prozentpunkten im Vergleich zum 2. Quartal 2023 entspricht. Der Auftragseingang war mit 1.531 Millionen NOK solide und der Auftragsbestand blieb stabil bei 4.943 Millionen NOK. Für das erste Halbjahr 2024 berichtete Multiconsult von Nettobetriebseinnahmen in Höhe von 2.791,8 Millionen NOK, was einem Anstieg von 13,3 % im Jahresvergleich entspricht, sowie von EBITA in Höhe von 322,4 Millionen NOK, was einer Marge von 11,5 % entspricht. Der Ausblick des Unternehmens bleibt positiv, mit hohen Aktivitätsniveaus in verschiedenen Sektoren.
- EBITA increased by 234.1% year-over-year to NOK 185.7 million in Q2 2024
- Net operating revenues grew by 23.5% to NOK 1,424.9 million in Q2 2024
- Record-high billing ratio of 73.8% in Q2 2024, up 1.7 percentage points from Q2 2023
- Solid order intake of NOK 1,531 million in Q2 2024
- H1 2024 net operating revenues increased by 13.3% to NOK 2,791.8 million
- H1 2024 EBITA margin improved to 11.5% from 11.0% in H1 2023
- Full-time equivalents (FTE) increased by 7.6% to 3,540 in H1 2024
- Order backlog remained flat year-over-year at NOK 4,943 million
- Operating expenses increased by 12.9% to NOK 1,178.9 million in Q2 2024
- Other operating expenses rose by 5.2% to NOK 158.0 million in Q2 2024
Multiconsult delivered a very strong quarter, continuing the positive development with high activity and strong operational efficiency. The EBITA came in at
SECOND QUARTER 2024
- Successful quarter with strong operational performance and results
- Net operating revenues increased by 23.5 per cent to NOK 1 424.9 million (1 153.8)
- The organic revenue growth adjusted for the calendar effect was 11.4 per cent
- EBITA of NOK 185.7 million (55.6), equal to an EBITA margin of 13.0 per cent (4.8)
- Net revenues and EBITA impacted positively by
NOK 92.6 million from the calendar effect compared with second quarter 2023
- Net revenues and EBITA impacted positively by
- Significantly improved billing ratio of 73.8 per
cent (72.1) , up 1.7pp - Order intake of NOK 1 531 million (1 572)
- Order backlog of NOK 4 943 million (4 943)
- Full-time equivalents (FTE) increased by 5.1 per cent, to 3 531 (3 360)
- Net profit of
NOK 147.9 million (36.0) - Earnings per share
NOK 5.36 (1.30) - The overall market outlook remains good and stable
FIRST HALF 2024
- Net operating revenues of NOK 2 791.8 million (2 464.0), a y-o-y growth of 13.3 per cent
- The organic revenue growth adjusted for the calendar effect was 10.7 per cent
- EBITA of NOK 322.4 million (271.9), equal to an EBITA margin of 11.5 per cent (11.0)
- Net revenues and EBITA impacted negatively by NOK 21.1 million from the calendar effect compared with first half 2023
- Order intake of NOK 3 378 million (4 146)
- Net profit of NOK 243.4 million (194.1)
- Earnings per share 8.88 (7.07)
- Full-time equivalents (FTE) increased by 7.6 per cent, to 3 540 (3 289)
EXTRACT OF COMMENTS FROM CEO, GRETHE BERGLY:
Multiconsult delivered a very strong quarter, continuing the positive development with high activity and good operational performance and efficiency. An all-time high billing ratio of 73.8 per cent registered in the quarter is a testament to a high activity level in the organisation. We continue to deliver strong results and can record a record high first half of 2024. I would like to express my gratitude to all our employees for contributing to the strong results.
Multiconsult's strong performance over time demonstrates that we are succeeding in our strategic priorities to position ourselves to win the right projects and that we have an organisation with highly skilled employees who are capable of delivering services that meet our customers' expectations.
The overall market development has been stable, with continued uncertainty during the quarter. The solid order intake of NOK 1 531 million resulted in a flat development in our order backlog year-over-year. It is a great achievement by the organisation that we maintain a strong order backlog giving us a solid foundation at the end of the second quarter. We see a continued high level of activity and increased opportunities to provide solutions that support our clients in their green transition. We are experiencing increased demand for our services in biodiversity and projects that can help mitigate the consequences of the climate changes.
To remain relevant and competitive, we must stay at the forefront of both professional and technological development. Therefore, we invest heavily in this area. In the quarter, we have started a 12-month mentorship/candidate program to enhance our capability in managing the largest and most complex transportation projects.
For a full review of comments from CEO, please refer second quarter and first half year 2024 report.
FINANCIAL REVIEW, SECOUND QUARTER 2024:
Net operating revenues amounted to NOK 1 424.9 million (1 153.8), an increase of 23.5 per cent compared to the same quarter last year. The organic revenue growth amounted to 11.4 per cent, adjusted for calendar effect and acquisition. The increase in net operating revenues was driven by higher billing ratio, increased capacity, and higher billing rates. The billing ratio exceeded last year's comparable quarter by 1.7 percentage points, reaching 73.8 per
Operating expenses consist of employee benefit expenses and other operating expenses. Operating expenses increased by 12.9 per cent to NOK 1 178.9 million (1 044.5) compared to the same quarter in 2023. Employee benefit expenses increased by 14.2 per cent in line with ordinary salary adjustment, increased manning level from acquisitions, and increase in net recruitment. Other operating expenses increased by 5.2 per cent to
EBITDA was
EBITA was
Calendar effect: In the second quarter of 2024 there were five more working days compared to the second quarter 2023. This had an estimated positive impact of
FINANCIAL REVIEW, FIRST HALF 2024:
Net operating revenues increased by 13.3 per cent to NOK 2 791.8 million (2 464.0). The organic revenue growth amounted to 10.7 per cent, adjusted for calendar effect and acquisition. The increase in net operating revenues was driven by higher billing ratio, increased capacity reflected by an increase in full-time equivalents (FTE) of 7.6 per cent and higher billing rates. Billing ratio increased to 73.6 per
Operating expenses consist of employee benefit expenses and other operating expenses. Reported operating expenses increased by 12.8 per cent to NOK 2 349.8 million (2 083.5) compared to the first half year of 2023. Employee benefit expenses increased by 13.7 per cent and came in at NOK 2 038.8 million (1 793.0), an increase driven by net recruitment, regular salary adjustment and employee benefit expenses arising from acquisitions. Other operating expenses increased by 7.0 per cent to
EBITDA was
EBITA was
Calendar effect: In the first half of 2024 there was one less working day compared to the same period in 2023. This had an estimated negative impact of
OUTLOOK
The overall market outlook remains good and stable, with anticipated high activity levels across various sectors. Despite expected challenges such as investment delays and shifts in political priorities, the market for Multiconsult's services is expected to be good across all four business areas. Demand for infrastructure and projects related to the green transition is likely to remain strong, and the potential for new opportunities in the pipeline is at a good level. However, the competitive landscape is expected to evolve due to lower investment levels in some markets, with pricing and margins for engineering services being sensitive and varying across the different segments. Overall, while specific challenges are anticipated, the outlook supports continued stability and continued performance.
For a full review, please refer to second quarter and first half year 2024 report.
Presentations today 21 August 2024:
Participants are invited to attend the Norwegian presentation that will be held at Hotel Continental, Stortingsgata 24/26,
The Norwegian presentation at 08:30 can be accessed at:
https://channel.royalcast.com/landingpage/hegnarmedia/20240821_6/
The English presentation at 09:30 can be accessed at:
https://channel.royalcast.com/landingpage/hegnarmedia/20240821_7/
Live webcasts, complete report, presentation and a recording of the webcast will be available on https://www.multiconsult-ir.com and https://newsweb.oslobors.no/
For further information, please contact:
Investor relations:
Ove B. Haupberg, CFO
Phone: +47 401 00 900
E-mail: oveb.haupberg@multiconsult.no
Media:
Gaute Christensen, VP Communications
Phone: +47 911 70 188
E-mail: gaute.christensen@multiconsult.no
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Multi-Q224-stock market announcement | |
https://mb.cision.com/Public/12394/4026600/be750d1ec2e22818.pdf | Multi-Q224-presentation |
https://mb.cision.com/Public/12394/4026600/99c7b6298467edce.pdf | Multi-Q224-report print |
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SOURCE Multiconsult
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