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Multiconsult : Annual General Meeting 2026 | Presentation
Multiconsult : Annual General Meeting 2026 |
About this update from Multiconsult Asa
Ordinær Generalforsamling Multiconsult ASA Rikard Appelgren, Chair board of directors Grethe Bergly, CEO Ove B. Haupberg, CFO Arnor Jensen, Leader nomination committee 16 April 2026 Sak 1, 2 G 3 RIKARD APPELGREN - Chair board of directors Sak 1 - Valg av møteleder og en person til å medundertegne protokollen Sak 2 - Godkjennelse av innkallingen og dagsorden Sak 3 - Godkjenning av årsregnskap og styrets årsberetning for Multiconsult ASA og konsernet for 2025 herunder disponering av årets resultat, samt behandling av redegjørelse om foretaksstyring Highlights 2025 GRETHE BERGLY - CEO Our ambition: Always the first choice We make it easier for our clients to identify and reach their goals This is the Multiconsult Group Segments (share of net operating revenues 2025) Business areas (share of operating revenues 2025) Sector balanced portfolio (share of operating revenues 2024) 5 500 clients > 15 000 projects 45 countries > 4 100 employees 8% 14% 79% 13% 35% 26% 26% 49% 51% Norway Architecture International Buildings C Properties Mobility C Transportation Energy C Industry Water C Environment Public Private Financial track record 3.4 3.7 3.8 4.2 4.8 11.0 9.2 9.8 9.3 9.2 4.1 7.6 5.4 5.7 EBITA adj. margin % Net operating revenues, NOK billion 2019 2020 2021 2022 2023 2024 2025 Multiconsult-Group Mulriconsulf ? L S 3 SITEPARTNER?'"r Multiconsult-Group LINK Arkitektur A small selection of projects New Aalborg University hospital Frame agreements with the No ncy rwegian Defense Estates Age Deichman Library, Oslo Rikshospitalet, Oslo Museum of the Viking Age Yggdrasil. Electrification of oil and gas installations 11 It's all about the people People Organisation Excellence Engineering students named Multiconsult Norge the most attractive company in the construction industry (Universum survey) More than 85 per cent of employees are estimated to be co-owners Employee survey shows strong engagement and above-benchmark satisfaction Karsten Warloe, appointed new CEO of Multiconsult Group from June 2026 Engineering consultancy ViaNova is currently being integrated in Multiconsult Norge, which will significantly strengthen the group's transport and mobility offering to the market Anders Liaøy awarded first prize in the EFCA Future Leaders Competition LINK Arkitektur won two international Archello Awards for Spira and The Parkside. Campus ACE was also named "Environmental Building of the Year" by Sweden Green Building Council Ski Tower by A-Lab was nominated for two awards in the ArchDaily Building of the Year Awards Thriving amid rapid change EBITA adjusted 431.7 NOK million EBITA margin 7.6% EBITA 3G4.8 NOK million EBITA margin 7.0% NET OPERATING REVENUES 5 657 NOK million 5.1% y-o-y Stable performance in a challenging market The overall market outlook remains stable, with continued uncertainty Multiconsult continues to grow both through acquisitions and organically in a year where competition in our industry has intensified Defence, energy and industry remain key drivers EPS C DPS G.22 EPS NOK per share 5.00 DPS NOK per share ORDER INTAKE 6 077 NOK million -5.8% y-o-y BILLING RATIO 71.8 per cent -1.0pp y-o-y A strong position within defence related consultancy in Norway, Sweden, Denmark and Poland The defence related experience also positions us strongly for assignments that increase the robustness of the civil society and our total defence EBITA margin* 10% *measured on an annual basis, exclusive extraordinary items Measures to improve profitability Goal is to improve EBITA margin in line with our profitability target, which is 10%, by: Adapting the organisation to the market Optimising processes and creating a more efficient business support organisation Introducing cost savings programme Profitability, growth and gearing Profitability Target an annual EBITA margin of 10%, excluding extraordinary items Revenue growth Aim for 8-10% compound annual revenue growth between 2025 and 2030, including 500 450 400 NOK million 350 300 250 200 150 100 50 10.7% 11.0% 10.0% 9.2% 9.8% 9.3% 9.2% 7.6% 7.7% 7.1% 7.6% 7.0% 5.8% 3.9% 4.1% 3.0% 11 10 9 EBITA adj. margin % 8 7 6 5 4 3 2 1 M&A activities Gearing and equity Maintain financial strength with a gearing ratio between 1.0 and 2.0x, max 2.5x, special: 3.0x up to 18 months, and equity ratio above 25% Dividend policy Ambition to distribute at least 50% of the group's net profit annually 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 EBITA adj. EBITA adj. margin +11% +10% 6 000 5 000 NOK million 4 000 3 000 2 000 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Net operating revenues 2025 1 000 0 15 Industry leading data gives clients a clear advantage In 2025, more than NOK 40 million was invested in digital competence and advanced technology solutions: Investment in an advanced digital platform that strengthens collaboration across the group Nearly a century of high-quality data, fully digitalised and ready for use A powerful digital platform and high-quality data enable delivery of greater value to clients through human and artificial intelligence Photo: Adobe Stock High ambitions for where and how to grow Long-term, sustainable and profitable development Projects 1 Developing position in complex and large projects Robust platform for growth Positions 2 3 4 Expanding our position as preferred partner in the energy transition Driving urban transformation and development Safeguarding biodiversity and climate Enabling the green transition Markets 5 Increasing our impact in the Nordics and Poland Expanding our position A preferred partner in the energy transition Carbon capture in Klemmetsrud, Oslo Northern Lights carbon storage project Hydropower in Nepal A more robust power grid Capturing emissions at one of Oslo's largest waste facilities Enabling safe, long-term storage of CO 2 beneath the seabed as part of Europe's first full-scale CCS value chain Delivering reliable renewable energy in a challenging terrain for hydropower developer in Nepal Strengthening grid capacity and resilience to meet demand and ensure secure energy supply for Statnett Driving urban transformation and development Improving urban mobility across Warsaw Fornebubanen Munch Relocation of the port of Bergen Modernising transport infrastructure to create safer, faster and more sustainable mobility residents and commuters Delivering one of Norway's largest transport projects, improving connectivity between Oslo and Fornebu Engineering and architectural expertise supporting a landmark cultural building that strengthens Oslo's waterfront and cultural life Supporting a major urban transformation by shifting port activities and enabling new city development along the waterfront Safeguarding biodiversity and climate Restoring military training grounds to nature Restoring former training areas at Skarsteinsfeltet to natural conditions through targeted environmental rehabilitation Client: Forsvarsbygg Landslide risk mitigating Reducing risk to people and infrastructure through advanced geotechnical assessments and protective measures Client: Ullensaker municipality Nature hazards and watercourse protection Strengthening vulnerable watercourses and landscapes to safeguard communities across Norway against extreme weather Client: NVE Mapping of habitat types Providing essential ecological insight by identifying and classifying habitat types for sustainable land-use Client: Norwegian Environment Agency A unique position as advisor for the defense sector in the Nordics Denmark LINK Arkitektur delivers consultancy services for the Danish Ministry of Defence Estates Agency across Denmark, the Faroe Islands and Greenland Sweden LINK Arkitektur works on multiple assignments as part of two frame agreements with the Swedish Fortifications Agency Norway Multiconsult Norge and LINK Arkitektur hold several framework agreements with the Norwegian Defence Estates Agency Photo: The Norwegian Defence Estate Agency Financial Review 2025 OVE B. HAUPBERG - CFO Consolidated key figures NOK million FY 2025 FY 2024 Change Net operating revenues 5 657.3 5 383.6 5.1% EBITA 3G4.8 523.4 (24.6%) EBITA margin % 7.0% 9.7% (2.7pp) EBITA adj. 431.7 492.1 (12.3%) EBITA adj. margin % 7.6% 9.2% (1.6pp) Order intake 6 077 6 454 (5.8%) Order backlog 4 233 4 851 (12.8%) Billing ratio 71.8% 72.8% (1.0pp) Permanent fixed employees 4 160 3 923 6.0% Full-time equivalents (FTE) 3 731 3 566 4.6% Financial highlights FY 2025 Net operating revenues increased to NOK 5 657.3 million (5 383.6), a y-o-y growth of 5.1% Organic revenue growth (ex. calendar effect) of 4.0% y-o-y Organic revenue growth (ex. one-offs, calendar effect) of 4.9% y-o-y EBITA of NOK 394.8 million (523.4), equal to an EBITA margin of 7.0% (9.7) Legal expenses, write-down, related to Sotra project of NOK 36.9 million One-time settlement from client in 3Ǫ 24 of NOK 31.2 million EBITA adj. of NOK 431.7 million (492.1), margin 7.6% (9.2) Order intake of NOK 6 077 million Billing ratio of 71.8%, declined by 1.0 percentage points Reported profit for the period was NOK 252.6 million (413.3) Last year's figure included NOK 36.0 million net finance income from the A-lab acquisition and NOK 21.4 million from reduced earn-out from Helm and VA-Resurs Earnings per share 9.22 (15.11) Proposed dividend of NOK 5.00 per share as ordinary dividend EBITA FY 2024 One-off effect 241 EBITA Increased Other adj. FY capacity revenue 3 432 37 523 492 -31 -2 -323 -77 395 -76 137 Calendar effect Billing ratio Other Employee Other opex benefit cost EBITA FY 2025 One-off effect EBITA adj. FY 3Ǫ 24 2024 effects expenses effects 2025 2025 Financial position 750 700 650 600 550 NOK million 500 450 400 Cash flow from operations NOK 537 million (677) Change in working capital FY negative NOK 286 million (negative 5) Net interest-bearing debt NIBD NOK 777 million Gearing ratio 1.95 (NIBD excl. IFRS16, restricted cash/EBITDA) 350 300 250 200 150 100 50 0 165 213 -222 1 37 241 -400 324 -286 Cash at CF from Change in CF to CF from CF from Foreign Cash Gearing ratio adj. 1.80 138 NOK million -106 3Ǫ 4Ǫ 1Ǫ 2Ǫ 3Ǫ 4Ǫ 91 1Ǫ 2Ǫ 3Ǫ 4Ǫ 686 777 1Ǫ 2Ǫ 3Ǫ 4Ǫ the beginning of the year operations working capital investments financing financing IFRS 16 currency effects 31 Dec 2025 2022 2023 2024 2025 Shaded areas show IFRS 16 (non-cash) effects on Cash Flow (CF) from opeations and financing NIBD excl. IFRS 16 liabilities Consolidated statement of profit or loss Consolidated statement of financial position Consolidated statement of financial position Consolidated statement of cash flows Financial calendar 12 May 2026, 1Ǫ 2026 results 18 Aug 2026, Half-yearly 2026 report 03 Nov 2026, 3Ǫ 2026 results Teknostallen, Trondheim | Photo: Marianne Fon / Multiconsult Sak 3, 4 og 5 RIKARD APPELGREN - Chair board of directors Sak 3 - Godkjenning av årsregnskap og styrets årsberetning for Multiconsult ASA og konsernet for 2025 herunder disponering av årets resultat, samt behandling av redegjørelse om foretaksstyring Forslag til vedtak: Årsregnskapet og årsberetningen for 2025 godkjennes. Det foreslåtte utbyttet på NOK 5,00 per aksje godkjennes. Sak 4 - Godkjennelse av honorar til Selskapets revisor Godtgjørelsen til Selskapets revisor for 2025 er NOK 2 211 000, som dekker revisjon av det konsoliderte årsregnskapet til Multiconsult ASA etter IFRS og morselskapsregnskapet etter forenklet IFRS, samt attestasjon av bærekraftsrapportering i tråd med asal. § 7-6(1). Forslag til vedtak: Generalforsamlingen godkjenner godtgjørelse til Selskapets revisor med NOK 2 211 000 for regnskapsåret 2025. Sak 5, 6, 7 og 8 ARNOR JENSEN - Leader nomination committee Sak 5 - Fastsettelse av honorar til styrets medlemmer Valgkomitéens innstilling : The nomination committee proposes the following remuneration for the directors for the period running from the annual general meeting 2026 to the annual general meeting 2027: EXTRAORDINARY REMUNERATION TO THE BOARD'S CHAIR AND MEMBERS OF THE RECRUITMENT COMMITTEE In the spring of 2025, CEO Grethe Bergly announced her intention to step down. The board of directors established a recruitment committee with a mandate to oversee the recruitment process and prepare a recommendation to the board of directors for the appointment of a new CEO. The recruitment committee comprised Rikard Appelgren (chair), Sverre Hurum, Eva Kristensen and Tore Sjursen. Kristensen and Sjursen shared the responsibilities of one position between them. The nomination committee recognises that the members of the recruitment committee have devoted considerable time and effort to this work and therefore proposes that the general meeting resolve to grant them extraordinary remuneration for this committee work, by adopting the following resolution: The chair of the recruitment committee, Rikard Appelgren, shall receive NOK 115 000 in compensation for his efforts in 2025 and 202C. The member of the recruitment committee, Sverre Hurum, shall receive NOK C0 000 in compensation for his efforts in 2025 and 202C. The members of the recruitment committee, Eva Kristensen and Tore Sjursen, shall each receive NOK 30 000 in compensation for their efforts in 2025 and 202C. Sak 5 - Fastsettelse av honorar til styrets medlemmer The nomination committee proposes that the general meeting adopts the following resolutions: The general meeting adopts the nomination committee's proposed remuneration to the members of the board of directors for the period 2026-2027. The general meeting adopts the nomination committee's proposed extraordinary remuneration to the members of the recruitment committee. All board members who are elected by the shareholders shall buy shares in Multiconsult ASA for 20% of the aggregate gross board remuneration within the end of the year. The obligation will apply annually for as long as a board member is re-elected, until the individual board member's shareholding has an aggregate market value equal to the size of one year's board fee. Board members shall thereafter maintain a shareholding of this size for as long as they remain members of the board of directors. After a board member resigns, the obligations under this resolution shall cease to apply. Forslag til vedtak (som i innstillingen): At generalforsamlingen godkjenner honorar til styrets medlemmer i tråd med valgkomiteens innstilling. Sak 6 - Valg av medlemmer til styret Valgkomitéens innstilling : Term 6.1 Hans Jørgen Wibstad (member of the board of directors, two-year term) 2 years (2028) 6.2 Jone Torstensen (member of the board of directors, two-year term) 2 years (2028) In summary, the nomination committee proposes that the general meeting elect Hans Jørgen Wibstad and Jone Torstensen as directors for two-year terms, from the 2026 annual general meeting to the 2028 annual general meeting, by adopting the following resolutions : Forslag til vedtak (som i innstillingen): Hans Jørgen Wibstad is elected as a member of the board of directors for a two-year term. Jone Torstensen is elected as a member of the board of directors for a two-year term. Sak 7 - Valg av medlemmer til valgkomitéen Valgkomitéens innstilling : Term 7.1 Atle Hauge (member and chair of the nomination committee) 2 years (2028) 7.2 Håkon Astrup (member and chair of the nomination committee) 2 years (2028) The nomination committee proposes that Hauge be re-elected as a member of the nomination committee and that Håkon Astrup be elected as a new member, each for a two-year term from the 2026 annual general meeting until the 2028 annual general meeting, by adopting the following resolution: Forslag til vedtak (som i innstillingen): Atle Hauge and Håkon Astrup are elected as members of the nomination committee of Multiconsult ASA for a two-year term, from the 202C annual general meeting until the 2028 annual general meeting Sak 8 - Fastsettelse av honorar til valgkomiteens medlemmer Valgkomitéens innstilling: Forslag til vedtak (som i innstillingen): The general meeting adopts the nomination committee's proposed remuneration to the members of the nomination committee, for the period from the 202C annual general meeting to the 2027 annual general meeting. Sak G, 10, 11 og 12 RIKARD APPELGREN - Chair board of directors Attention : This is an excerpt of the original content. To continue reading it, access the original document here .