Norconsult ASA: Q4 and full year 2024 - Steady growth and improved underlying profitability

18 Feb 2025 07:00 CET

Sandvika, 18 February 2025 (OSE: NORCO): Income after external project costs
increased by 7 percent compared to the fourth quarter last year. Organic growth
adjusted for calendar effects was 7 percent. The adjusted EBITA margin adjusted
for calendar effects was 9.7 percent in the quarter, up from 9.0 percent in the
same quarter last year.

Highlights Q4 2024

· Continued steady growth in income after external project costs of 7 percent
to NOK 2 502 million (2 333)
· Negative calendar effects of NOK 17 million
· Organic growth of 7 percent adjusted for calendar effects
· Adj. EBITA was NOK 227 million (209) with an adj. EBITA margin of 9.1
percent (9.0)
· Adj. EBITA margin was 9.7 percent, adjusted for calendar effects
· Expenses for the employee share program 2023 (gift shares) of NOK 38 million
(43) are excluded from adj. EBITA
· Net profit of NOK 203 million (74)
· Strong net cash flow from operating activities of NOK 938 million (492)
· Earnings per share (EPS) NOK 0.68 (0.26)

Highlights YTD Q4 2024

· Growth in income after external project costs of 8 percent to NOK 9 186
million (8 494)
· Negative calendar effects of NOK 54 million
· Organic growth of 7 percent adjusted for calendar effects
· Adj. EBITA was NOK 879 million (810) with an adj. EBITA margin of 9.6
percent (9.5)
· Adj. EBITA margin was 10.1 percent, adjusted for calendar effects
· Expenses for the employee share program 2023 (gift shares) of NOK 285
million (41) are excluded from adj. EBITA
· Net profit of NOK 498 million (516)
· Strong net cash flow from operating activities of NOK 1 497 million (922)
· Earnings per share (EPS) NOK 1.72 (1.83)
· The Board of Directors proposes a dividend of NOK 1.70 per share for 2024

Comments from CEO Egil Hogna:

"Norconsult ended the fourth quarter and 2024 with steady growth and improved
underlying profitability. Cash flow was strong due to good working capital
management and the order book was stable."

Outlook:

The market will continue to be affected by international political and economic
uncertainty.

There are signs of optimism in the private market for Buildings & Architecture,
but most likely it will take some time before it materialises into increased
activity.  We continue to expect a high activity in the energy sector, and a
more mixed development in other industry markets. The demand in infrastructure
is expected to be stable going forward.

Norconsult has considerable flexibility with a diversified mix of services and
end-market exposures in the Nordics. Most of the demand for our services comes
from the public sector. This makes Norconsult less exposed towards short-term
cyclicality in the economy in general. Overall, we continue to expect a
relatively stable market outlook, despite the macroeconomic uncertainties.

Norconsult will continue to take proactive measures to improve underlying
profitability and maintain efficiency.

For detailed information, please see the attached report and presentation.

The company will present the results today at 09:00 CET at VIA - House of Oslo,
Ruseløkkveien 34, Oslo. The presentation will be held by CEO Egil Hogna and CFO
Dag Fladby. The results will also be presented online through a live webcast
where the participants will have the opportunity to submit questions.

The live webcast can be accessed at:

https://api.screen9.com/registration/MhAWEjkUHaqaFxQRvUwI2hqwAdCBNa4PysU3Xb9AJ0r
F
PsNS4OHpmZx_Lt7F0LBJ

For further information, please contact:

Investors: Elin Spieler, Head of Treasury and IR Manager,
I (IR@norconsult.com)R@norconsult.com

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

This information is considered to be inside information pursuant to the EUR
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
release was published by Elin Spieler, Head of Treasury and Investor Relations
Manager, Norconsult ASA at the date and time as set out above.

***

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.

More information:
Access the news on Oslo Bors NewsWeb site

638995_2024_Fourth_Quarter_Norconsult_presentation.pdf
638995_2024_Fourth_Quarter_Norconsult_report.pdf