LINK arkitektur delivered a loss in the quarter mainly due to low project activity in Denmark as a result of unsuccessful tendering and high tendering activity in Norway. Increased project expenses combined with low project activity in Multiconsult UK and no project activity in Multiconsult Asia resulted in a loss in the International segment.
In Norway, The Greater Oslo Area and Regions Norway continue to improve utilization levels compared to last year. However, growth in billing rates continues to lag behind growth in salaries for the Norwegian workforce. This was exacerbated in the third quarter due to the impact of the annual salary increases effective from 1 July and the timing and extent of subsequent price adjustments to customers.
Pressure on billing rates in the industry persists and continues to challenge profitability.
Year to date EBIT margin is expected to be slightly below 4%. Group profitability for FY 2018 is expected to end at a similar level to FY 2017.
Further information about the third quarter results, intensified profit improvement measures and a capital market update will be presented in connection with Multiconsult ASA´s third quarter 2018 earnings release on Thursday 8 November at 07.00 CET. The complete report and presentation will be available at www.multiconsult-ir.com and www.newsweb.no.
For further information, please contact:
Mirza Koristovic, Head of Investor Relations
Phone: +47 93 87 05 25
Media: Gaute Christensen, VP Communications
Phone: +47 911 70 188
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.