Multiconsult third quarter result 2024 - very strong quarter
OSLO, Norway, Nov. 6, 2024 /PRNewswire/ -- Multiconsult ASA (OSE: MULTI)Multiconsult delivered a very strong quarter, continuing the positive momentum. EBITA came in at NOK 102.9 million (29.2), equal to an EBITA margin of 9.0 per cent. The performance was influenced by high activity, with a billing ratio of 71.2 per cent, 3.4 percentage points higher than the comparable quarter last year. Net operating revenues grew by 17.5 per cent to NOK 1 148.4 million, the organic revenue growth was 15.9 per cent adjusted for the calendar effect. There was an impact of one more working day compared to the same period last year, with an estimated negative effect of NOK 6.1 million on net operating revenues and EBITA. The order intake was NOK 1 277 million resulting in an order backlog of NOK 4 838 million. During the quarter, Multiconsult resolved a contractual dispute with a client, resulting in a settlement payment of NOK 31.2 million, which is reflected in the group results.
THIRD QUARTER 2024
Very strong quarter, driven by robust operational performance and high activity
Net operating revenues increased by 17.5 per cent to NOK 1 148.4 million (977.0)
The organic revenue growth adjusted for the calendar effect was 15.9 per cent
EBITA of NOK 102.9 million (29.2), equal to an EBITA margin of 9.0 per cent (3.0)
Net operating revenues and EBITA impacted negatively by NOK 6.1 million from the calendar effect compared with third quarter 2023
EBITA adjusted for one-offs was NOK 71.7 million (29.2), equal to an EBITA margin of 6.4 per cent (3.0)
Net operating revenues and EBITA impacted by a one-time settlement payment from client of NOK 31.2 million related to a contractual dispute
Significantly improved billing ratio of 71.2 per cent (67.8), up 3.4pp
Order intake of NOK 1 277 million (1 349)
Order backlog of NOK 4 838 million (5 094)
Full-time equivalents (FTE) increased by 2.1 per cent, to 3 541 (3 469)
Net profit of NOK 80.2 million (9.6)
Earnings per share NOK 2.95 (0.40)
The overall market outlook remains good and stable
YEAR TO DATE 2024
Net operating revenues of NOK 3 940.3 million (3 441.0), a y-o-y growth of 14.5 per cent
The organic revenue growth adjusted for the calendar effect was 12.2 per cent
EBITA of NOK 425.4 million (301.1), equal to an EBITA margin of 10.8 per cent (8.8)
Net operating revenues and EBITA impacted negatively by NOK 27.2 million from the calendar effect compared with same period 2023
EBITA adjusted for one-offs was NOK 394.1 million (301.1), equal to an EBITA margin of 10.1 per cent (8.8)
Net operating revenues and EBITA impacted by a one-time settlement payment from client of NOK 31.2 million related to a contractual dispute
Order intake of NOK 4 655 million (5 495)
Net profit of NOK 323.7 million (203.7)
Earnings per share 11.83 (7.46)
Full-time equivalents (FTE) increased by 6.0 per cent, to 3 540 (3 340)
EXTRACT OF COMMENTS FROM CEO, GRETHE BERGLY:
"Multiconsult delivered a very strong quarter, continuing the positive momentum. A continued high billing ratio throughout this quarter attests to the elevated activity ...
