Multiconsult Asa · OSL:MULTI
Multiconsult Asa — Q1 2025 Earnings Presentation
30 slides from Multiconsult Asa's earnings presentation, May 13, 2025
Slide 1: First quarter results 2025
First quarter results 2025 13 May 2025 Grethe Bergly, CEO Ove B. Haupberg, CFO
Slide 2: Disclaimer
Disclaimer This report includes forward-looking statements, which are based on our current expectations and projections about future events. All statements other than statements of historical facts included in this notice, including statements regarding our future financial position, risks and uncer
Slide 3: Introduction and highlights
Introduction and highlights Grethe Bergly, CEO Photo: Bård Gudim
Slide 4: This is the Multiconsult Group
This is the Multiconsult Group Segments Business areas Sector balanced portfolio (share of net operating revenues FY 2024) (share of operating revenues FY2024) (share of operating revenues FY 2023) > 5 500 clients > 15 000 projects 8% 12% 14% 37% 37% 24% 49% 51% > 45 countries > 3 900 employees 41%
Slide 5: Summary & Key figures | 1Q 2025
Summary & Key figures | 1Q 2025 GOOD START TO 2025 NET OPERATING EBITA REVENUES ─ Strong operational performance ─ Maintaining positive momentum 1 523 190.4 NOK million NOK million ─ Defence-related opportunities has continued to 11.4% y-o-y EBITA margin 12.5% increase, including call-offs on framew
Slide 6: Market & Sales
Market & Sales Large sales & new contracts Order intake Market 1Q 2025 ─ Framework agreement, The Norwegian Defence ─ Order intake in the quarter amounted to 2 573 Estates Agency NOK 1 696 million ─ Urban transformation, Hønefoss rail station 1 847 ─ High and diversified order backlog 1 696 NOK mill
Slide 7: People & organisation
People & organisation People Organisation Excellence — 3 963 employees, an increase — Grethe Bergly announced her resignation — Anders R. Liaøy nominated for EFCA Future of 5.1% y-o-y from the CEO position after six successful Leaders' Competition years at the helm — Øyvind B. Haugland wins best mas
Slide 8: Financial Review
Financial Review Ove B. Haupberg, CFO Photo: Bård Gudim
Slide 9: Financial highlights | 1Q 2025
Financial highlights | 1Q 2025 Consolidated key figures NOK million 1Q 2025 1Q 2024 Change FY 2024 Net operating revenues 1 523.4 1 366.9 11.4% 5 383.6 EBITA ─ Net operating revenues increased to NOK 1 523.4 million 190.4 136.8 39.2% 523.4 EBITA margin % (1 366.9), a y-o-y growth of 11.4% 12.5% 10.0
Slide 10: Financial highlights
Financial highlights Net Operating Revenues Billing ratio +11.4% 1 600 6 000 Rolling 12 months Billing ratio 76 -1.4pp 1 400 Net operating revenues Rolling 12 months 5 500 73.5% 1 200 74 5 000 1 000 72 71.4% 71.0% 72.1% 4 500 NOK million 800 1 523 70 1 310 1 367 4 000 600 1 138 3 500 68 400 200 3 00
Slide 11: Strong operational performance
Strong operational performance REGION OSLO REGION NORWAY ARCHITECTURE INTERNATIONAL ─ Net operating revenues ─ Net operating revenues ─ Net operating revenues ─ Net operating revenues increased by 10.5% increased by 13.9% increased by 11.9% increased by 14.5% ─ Higher billing rates and ─ Higher bill
Slide 12: Financial position
Financial position ─ Strong cash flow from operations ─ NOK 202 million (152) 380 ─ Change in working capital 360 ─ YTD negative NOK 224 million (negative 180) 340 53 320 -260 ─ Net interest-bearing debt 300 ─ NIBD NOK 216 million 280 260 -55 ─ Gearing ratio 0.40 (NIBD excl. IFRS16, restricted cash/
Slide 13: Free cash flow NOK million
Free cash flow 669 598 575 579 547 515 503 515 433 400 409 369 323 334 318 NOK million 294 272 457 416 409 373 262 79 81 83 85 37 29 -31 -59 -26 -52 -28 -22 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2023 2024 2024 2024 2024 2025 Net cas
Slide 14: Business areas & Closing remarks
Business areas & Closing remarks Grethe Bergly, CEO Photo: Bård Gudim
Slide 15: Market structure
Market structure Operating Multiconsult Buildings & Mobility & Energy & Water & Revenues Group Properties Transportation Industry Environment 12% 25% 26% % of total 36% 1Q 2025 NOK million 1 748 635 439 459 216 Change y-o-y 10% 6% 3% 23% 30%
Slide 16: We continue to see a great potential in an uncertain world
We continue to see a great potential in an uncertain world • Expertise in sustainable solutions. The demand for engineering and architectural solutions remain strong. With our extensive experience and competence, we have positioned ourselves as a trusted leader in this market • Diversified market po
Slide 17: We set high ambitions for where and how to grow
We set high ambitions for where and how to grow Long-term, sustainable and profitable development Projects Positions Markets 1 2 3 4 5 Developing position in Expanding our position Driving urban Safeguarding Increasing our impact complex and large as preferred partner in transformation and biodivers
Slide 18: We set high ambitions for where and how to grow
We set high ambitions for where and how to grow 2 Expanding our position as 3 Driving urban transformation and 4 Safeguarding biodiversity and preferred partner in the development climate energy transition Electrification of Halten, Environmental monitoring Developing Filipstad area in Oslo Tampen a
Slide 19: Significant electrification contract with Equinor
Significant electrification contract with Equinor • Multiconsult Norge to deliver egineering services for the electrification of oil and gas installations in the Halten, Tampen and Grane-Balder areas • The project includes the engineering of the entire onshore facility, including grid connection, tr
Slide 20: Carbon capture project in Oslo
Carbon capture project in Oslo • Contract awarded by Aker Solution for key civil engineering expertise at Hafslund Celsio’s carbon capture and storage solution at the waste-to- energy plant in Oslo, Norway • Multiconsult Norge and LINK Arkitektur will provide qualified personnel on a hire-in basis t
Slide 21: Northern Lights carbon storage project
Northern Lights carbon storage project • Multiconsult has been awarded a contract by Aker Solutions to provide key civil engineering expertise for Northern Lights carbon storage project phase 2 • Multiconsult Norge and Link Arkitektur will provide qualified personnel on a hire-in basis to work as an
Slide 22: Large hydropower plant in Nepal
Large hydropower plant in Nepal -Budhi Gandaki Hydropower Project, Nepal • Together with three Nepalese partners, Multiconsult will plan and design a new hydropower plant, which will be one of the largest in Nepal, a country that relies almost entirely on hydropower for its electricity • The hydropo
Slide 23: Outlook
Outlook ─ Stable outlook supported by a solid project pipeline and new frame agreements ─ Increased investments within defence and energy sectors ─ Positive signs in healthcare ─ Challenging market related to housing and real estate ─ Geopolitical uncertainty ─ High volume of ongoing projects, a div
Slide 24: Financial calendar
Financial calendar Financial year 2025 13.05.2025 - Quarterly Report - Q1 19.08.2025 - Quarterly Report - Q2 04.11.2025 - Quarterly Report - Q3 Bispevika / Vannspeilet | Photo: Multiconsult / Bård Guudim
Slide 25: Appendix
Appendix Photo: Multiconsult
Slide 26: Order backlog | 1Q 2025
Order backlog | 1Q 2025 5,500 -6.6% 5 086 5,000 4 749 Buildings & Properties 4,500 Energy & Industry 4,000 Mobility & Transportation Water & Environment 3,500 NOK million 3,000 2,500 2,000 1,500 1,000 500 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 1Q 1Q 2022 2023 2024 2025 2024 2025 Note: Variations i
Slide 27: Order intake | 1Q 2025
Order intake | 1Q 2025 Buildings & Properties 2 573 Energy & Industry Mobility & Transportation Water & Environment 1 847 1 798 1 696 1 559 1 572 1 531 1 467 1 431 1 349 1 277 1 224 945 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2022 2023 2024 2025 Lidl’s main office in Aarhus, Denmark | Photo: Adam Mør
Slide 28: Number of working days
Number of working days - Calendar effects NOK 2.2 million NOK -85.5 million NOK 82.9 million NOK 2.9 million 66 66 Year Q1 Q2 Q3 Q4 FY 63 59 60 60 60 2015 61 58 66 60 245 56 2016 58 62 66 60 246 2017 65 55 65 60 245 2018 59 60 65 60 244 2019 63 55 66 60 244 2020 64 56 66 60 246 2021 60 59 66 60 245
Slide 29: Segments | 1Q 2025
Segments | 1Q 2025 Region Oslo Region Norway Architecture International Net Operating Revenues Net Operating Revenues Net Operating Revenues Net Operating Revenues +14.5% Net operating revenues Net operating revenues Net operating revenues +11.9% Net operating revenues 800 800 +13.9% 250 120 +10.5%
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