Second quarter 2021
Net operating revenues came in at NOK 986.8 million (951.7) an increase of 3.7 per cent compared to the same period last year. Operating expenses increased by 3.1 per cent to NOK 824.5 million (799.4). Employee benefit expenses increased by 3.8 per cent compared to the same quarter in 2020. Other operating expenses decreased by 1.1 per cent to NOK 107.2 million (108.4), partly an effect from the nextLEVEL improvement programme.
EBITDA was NOK 162.3 million (152.3), an increase of 6.6 per cent compared to the same period last year, reflecting an EBITDA margin of 16.5 per cent (16.0) in the period.
EBIT was NOK 114.6 million (102.5), reflecting an EBIT margin of 11.6 per cent (10.8) in the period.
First half 2021
Net operating revenues increased by 1.1 per cent to NOK 1 965.9 million (1 945.3). Operating expenses increased by 1.9 per cent to NOK 1 656.9 million (NOK 1 625.3 million) driven by an increase in employee benefit expenses due to regular salary adjustment for the workforce and lower social security costs in the first half of 2020. Other operating expenses decreased by 5.2 per cent to NOK 206.9 million, a reduction of NOK 11.5 million compared to same period last year.
EBITDA was NOK 309.0 million (320.0), a decrease of 3.5 per cent compared to the same period last year.
EBIT was NOK 213.1 million (219.9), a decrease of 3.1 per cent y-o-y, reflecting an EBIT margin of 10.8%.
Order backlog at the end of the period remains solid at NOK 3 513 million.
The overall market outlook for Multiconsult’s services remains generally good or stable across all business areas. The potential opportunities in the pipeline are also at a good level in most business areas. Significant public sector transport projects are expected to provide stable business opportunities, and demand from the industry sector for “green” and sustainable projects is increasing.
Together with the newly acquired Erichsen & Horgen, Multiconsult will continue to focus on maintaining its industry leading competence, and further develop solid customer relations and leading solutions, as well as excellent project execution. The order backlog provides Multiconsult with a good foundation to handle the continued uncertainties facing the economy and our industry.
For a full review of our report, please refer to our Second quarter and half year 2021 report.