Egil Hogna (left), CEO at Norconsult and Dag Fladby, CFO at Norconsult.

Third quarter 2024: Solid growth and improved profitability

Financial results for the third quarter of 2024 show that Norconsult continues to deliver solid growth and stable profitability. Net revenue amounted to NOK 1.9 billion, representing an organic revenue growth of 11 per cent compared to the same period in 2023, adjusted for calendar effects. The growth was primarily driven by an increase in number of employees and higher hourly rates.

Norconsult's adjusted EBITA reached NOK 162 million in the third quarter of 2024, up from NOK 108 million in the same period in 2023, while the adjusted EBITA margin ended at 8.4 percent. The adjusted EBITA margin, considering calendar effects compared to the same period in 2023, was 8.6 percent for the quarter.

“We continue to experience uncertainty in some of our markets, and the Group continuously monitors costs and makes capacity adjustments when necessary. At the same time, we see that our strategy of local presence and interdisciplinary collaboration is working and brings business. local knowledge, and access to talent. I would like to extend my gratitude to all our clients and employees who continue to improve local communities and daily life through numerous projects,” says Egil Hogna, CEO of Norconsult.

Read the full stock exchange release here: investor.Norconsult.com

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For further information, please contact:

Investors: Elin Spieler, Head of Treasury and IR Manager, IR@norconsult.com

Henrik Charlesen, Senior Communication Advisor, Henrik.Charlesen@norconsult.com

About Norconsult

Norconsult is a leading pan-Nordic interdisciplinary consulting firm combining engineering, architecture and digital expertise across projects of all sizes, for private and public customers in infrastructure, energy and industry, buildings and architecture. Headquartered in Sandvika, Norway, Norconsult’s delivery model is centred around knowledge hubs and local presence through approximately 6,500 employees across around 140 offices in Norway, Sweden, Denmark, Iceland, Poland and Finland.