In This Article:
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Net Operating Revenue: NOK 1,148 million, an increase of 17.5% from last year.
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Organic Growth: 15.9% with additional 2.3% from M&A activity.
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Billing Ratio: 71.2%, an improvement of 3.4 percentage points from last year.
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EBITA: NOK 102.9 million, an increase of 252.3% from last year, with a margin of 9%.
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Order Backlog: NOK 4,838 million.
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Reported Profit: NOK 80.2 million, an increase of NOK 70.6 million from last year.
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Year-to-Date Net Operating Revenue: NOK 3,940 million, an increase of 14.5% from last year.
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Year-to-Date Organic Growth: 12.2% with 3.1% from M&A activity.
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Year-to-Date EBITA: NOK 425.4 million, an increase of 41%, with a margin of 10.8%.
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Year-to-Date Reported Profit: NOK 323.7 million, an increase of NOK 120 million from last year.
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Free Cash Flow: Positive NOK 4.8 million for the quarter.
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Employee Count: 3,893 employees.
Release Date: November 06, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Multiconsult ASA (FRA:3MC) reported a strong operational performance with a billing ratio of 71.2%, supported by high organic growth.
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The company achieved a significant increase in net operating revenue, up 17.5% from the previous year.
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EBITA increased by 252.3% to NOK 102.9 million, reflecting improved profitability.
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The order backlog remains robust at NOK 4.8 billion, providing a solid foundation for future operations.
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Multiconsult ASA (FRA:3MC) continues to see a strong pipeline of projects, particularly in defense infrastructure and sustainability, driving demand.
Negative Points
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There was a reduction in sales and order backlog due to peak production in some large projects, which was expected.
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The architecture segment, particularly in Oslo, faced challenging market conditions, leading to temporary layoffs.
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The company experienced a negative calendar effect impacting financial results by NOK 6.1 million in the quarter.
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The international segment saw a slight decrease in EBITA, despite increased net operating revenues.
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Increased competition and uncertainty in parts of the market could pose challenges to sustaining growth.
Q & A Highlights
Q: Can you provide more details on your expectations for the billing ratio going forward, considering the peak production in some projects? A: We have managed to lift the billing ratio to a higher level, but expect fluctuations between quarters. We anticipate it will fluctuate between 70% to 73%.
Q: How long will the order backlog support the current billing ratios? A: We have peak performance in some projects next year, but we are continuously filling up the backlog with new contracts, such as the recent NOK450 million defense contract. We are not concerned about maintaining the billing ratios.