Multiconsult's 2025 Q2 Performance: A Tale of Growth and Strategy
Multiconsult's 2025 Second Quarter Overview
Multiconsult ASA reported a moderate performance in the second quarter of 2025, while demonstrating a notable uptick in merger and acquisition (M&A) activities within a generally stable market environment. The company's EBITA for the quarter stood at NOK 67.4 million, leading to a cumulative EBITA of NOK 257.8 million for the first half of the year, marking an EBITA margin of 4.8%. The overall EBITA margin for the first six months reached 8.8%. However, the second quarter's EBITA reflected a year-on-year decrease of 17.6%, adjusting for calendar variations.
Financial Highlights from Q2 2025
Despite facing challenges, Multiconsult witnessed robust activity across most segments, primarily fueled by higher billing rates. However, the company was slightly hindered by reduced capacity, a result of fewer working days. Net operating revenues amounted to NOK 1,415.9 million, reflecting an organic revenue growth of 4.2%, adjusted for calendar effects and acquisitions. The quarterly billing ratio recorded a slight decline to 72.9%, down by 0.9 percentage points compared to the same period last year. The order intake for the quarter was NOK 1.539 billion, contributing to a solid order backlog of NOK 4.575 billion, setting the stage for the next growth phase of Multiconsult.
Key Metrics to Note
- Net operating revenues saw a minor decrease, reducing by 0.6% year-on-year.
- Organic revenue growth held steady at 4.2% after adjustments.
- EBITA of NOK 67.4 million represented a margin of 4.8%.
- The EBITA margin, adjusted for calendar effects, hit 10.2%.
- Billing ratio landed at 72.9%, slightly down from 73.8% last year.
- Order backlog remains strong, supporting future activities.
- Full-time equivalents (FTE) increased by 6.6%, rising to 3,762 employees.
- Net profit stood at NOK 40.3 million with earnings per share at NOK 1.45.
Growth through Strategic Acquisitions
The announcement of the acquisition of the ViaNova group has been a highlight for the company. This strategic move aims to bolster Multiconsult's competence in the transport and mobility sector, marking one of the most significant acquisitions since Erichsen & Horgen in 2021. CEO Grethe Bergly expressed enthusiasm about the synergy between the companies, noting that ViaNova's culture of innovation resonates well with Multiconsult's values. The integration is expected to propel growth and enhance their market position significantly.
Looking Ahead: Market Outlook
Multiconsult’s market outlook remains stable, supported by a strong order backlog. Although the overall EBITA performance in the second quarter fell short compared to the previous year, factors such as four fewer working days played a role in this dip. The team is developing strategies to counteract lower billing ratios and rising operational costs. The successful refinancing of credit facilities, amounting to NOK 2.5 billion, further strengthens the company’s financial position as it moves forward.
Frequently Asked Questions
What were the key financial highlights for Multiconsult in Q2 2025?
In Q2 2025, Multiconsult experienced net operating revenues of NOK 1,415.9 million and an EBITA of NOK 67.4 million, reflecting a moderate performance.
How did the ViaNova acquisition impact Multiconsult?
The acquisition enhances Multiconsult's capabilities in transport and mobility, positioning it for stronger future growth.
What challenges did Multiconsult face in Q2 2025?
The company dealt with reduced capacity due to fewer working days and a lower billing ratio, which impacted overall EBITA performance.
How does Multiconsult's growth strategy look moving forward?
Multiconsult aims to leverage strategic acquisitions and a robust order backlog to fuel future growth while managing operational costs effectively.
What is Multiconsult's outlook for the remainder of 2025?
The market outlook remains stable, with a strong order backlog supporting high levels of activity moving forward.
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