Norconsult Asa · OSL:NORCO
Norconsult Asa — Holberg – Bank og Bassgitar 2026
15 slides from Norconsult Asa's conference presentation, June 2026
Slide 1: Norconsult ASA
Centre for Psychiatric Healthcare in Nordbyhagen Norconsult ASA Holberg – Bank og Bassgitar 2026 Egil Hogna, CEO June 2026 This document has been prepared by Norconsult ASA as part of the assignment that the document relates to. The copyright of this document is owned by Norconsult ASA. The document
Slide 2: Norconsult – Every day we improve everyday life
Norconsult – Every day we improve everyday life A local partner, leveraging our size and reach… ...with solid financials1) Founded in 1929 ~ 7 200 Employees Q1 2026 ~ 140 Offices Revenue by customer2) Revenue by projects2) Country HQs Offices ~35K projects ~15K customers Buildings and architecture2)
Slide 3: How big things get built – the AEC value chain
How big things get built – the AEC value chain Value is created across the chain — but it is a fragmented reality Suppliers Designers Builders Owners Provide the raw inputs Translate needs into plans Execute the build Define the need, bear the risk - Bricks, mortar, steel, concrete - Architects, eng
Slide 4: Professional service offerings to the building and construction market
Professional service offerings to the building and construction market Offering Project management Architecture Engineering and digital solutions Form, function, experience Structures, systems, complexity Scope, schedule, productivity Project lifecycle 1. Planning 2. Design and engineering 3.Project
Slide 5: The market leader in Norway with strong pan-Nordic growth
The market leader in Norway with strong pan-Nordic growth The leading player in Norway… …with reinforcing no. 1 position… …and a strong Nordic growth trajectory Gross revenues 2025 (NOKm) 1) Gross revenue (NOKbn) development 2,3) 7 899 Norway 6.7 7.1 7.9 6.0 5 573 2022 2023 2024 2025 Sweden 3 770 2.
Slide 6: Robust business model ensuring stable margins
Robust business model ensuring stable margins Risk diversified Time & material Attractive across ~35k assignments1) typical contract form1) economic attributes Top 50 projects Other Cost-plus model with low-risk contracts priced on accrued hours ~80% time & material of operating revenue Index-regula
Slide 7: Attracting, developing and retaining the best talent and competency
Attracting, developing and retaining the best talent and competency Winning recipe for attracting… …developing… ...and retaining talent No. group employees1) The basis of everything we do Reported employee churn 7 200 6 300 6 500 12.2% 5 500 Our Our customer 5 100 10.6% values promise 4 300 4 600 3
Slide 8: Revenue growth through balanced organic growth and acquisitions
Revenue growth through balanced organic growth and acquisitions Strong organic growth 11% 10% 10% Growth target 6% 7% 6% 2/3 Organic growth 5% 2% 1/3 M&A 2022 2023 2024 2025 Norconsult Publically listed peers1) 8 1) Multiconsult, Afry, Sweco
Slide 9: Successful M&A is a core part of Norconsult’s business model
Successful M&A is a core part of Norconsult’s business model Strong M&A track record Number of acquisitions | 2014 – Q1 2026 Selected acquisitions 1 3 3 Norwegian engineering Category: Civ. Eng. 4 consultancy, strong in FTEs: 221 5 Norwegian infrastructure 11 Danish engineering Category: Civ. Eng. c
Slide 10: Jevons paradox — why AI may grow the market, not shrink it
Jevons paradox — why AI may grow the market, not shrink it When efficiency lowers the cost of a resource, total consumption tends to rise English economist William Jevons observed in 1865 that more efficient steam engines expanded coal use rather than reducing it. The same mechanism may apply to AI
Slide 11: Two competing visions of AI in engineering
Two competing visions of AI in engineering Automate or augment the expert? Automating the expert Augmenting the expert Required user skill Required user skill Minimal — AI substitute missing expertise Deep — User expertise multiplies AI's value requirements AI architecture AI architecture General-pu
Slide 12: AI in AEC is augmentation, not automation
AI in AEC is augmentation, not automation AEC professions show 30–300× less Claude usage than programmers — with augmentation, not automation, the dominant pattern when AI is used Knowledge-work comparators AEC core professions Mostly automated tasks Mostly Augmented tasks Tasks that don’t appear in
Slide 13: Measuring impact is critical for informing future investment decisions
Measuring impact is critical for informing future investment decisions - Benefits should be measured both in corporate functions (business applications) and in professional project delivery within engineering and architecture (engineering and architecture applications), and linked to key metrics suc
Slide 14: Norconsult is a leading multidisciplinary consultancy
Norconsult is a leading multidisciplinary consultancy Market leader with a strong position Leading Nordic multidisciplinary consultancy with ~100-year track record and a strong local footprint Robust business model Ambition Asset-light and diversified project portfolio with recurring public/private
Slide 15: Every day we improve everyday life
Every day we improve everyday life