EBITDA for the quarter was NOK 58.3 million, a reduction of 31.4 per cent compared to the same period last year. A calendar effect with the loss of three working days due to the Easter holiday falling in the first quarter this year is the main reason for the reduction.
“I am very pleased to see the continued improvement in the billing ratio. Even with the significant calendar effect this quarter, it is very clear that the underlying business continues to deliver at a satisfactory level”, says CEO of Multiconsult ASA Christian Nørgaard Madsen.
The order backlog at the end of fourth quarter remained strong and was NOK 1 744.7 million, an increase of 7.7 per cent year on year. Multiconsult’s strong market position was confirmed with order intake within all business areas. There were extensions of existing contracts such as Hydro Karmøy Pilot Plant, Campus Ås and Kampflybasen in Norway as well as Mt Coffee in Liberia. New contracts awarded during the quarter include new hospital in Helsingborg in Sweden and Årum bridge in Norway among other.
As of 31 March 2016, total assets amounted to NOK 1 244.7 million and total equity of NOK 331.5 million. The group had cash and cash equivalents of NOK 122.7 million, while net interest bearing debt was negative NOK 114.4 million, i.e. an asset.
The overall market outlook remains fairly robust. Strong outlook is expected within Transportation & Infrastructure on both road and rail, while demand from the oil and gas industry is likely to continue to remain at a low level due to lower oil prices and investment activity on the Norwegian continental shelf. The weak NOK is contributing to a better competitive position for Norwegian exports and industry projects.
Multiconsult’s strong market position, flexible business model and wide service offering provides a sound base for further growth.
A presentation of the first quarter 2016 results will be held today, 10 May, at 09:00 CET at Hotel Continental, Stortingsgaten 24/26, Oslo. The presentation will be held by CEO Christian Nørgaard Madsen and CFO Anne Harris.
A live webcast from the presentation can be accessed at www.multiconsult-ir.com and http://webtv.hegnar.no/presentation.php?webcastId=33170504 .
For further information, please contact:
ABOUT MULTICONSULT ASA
Multiconsult is a leading Norwegian multidisciplinary engineering consulting company, with more than 2 100 employees and 45 offices in Norway and abroad. The Company focuses on seven market areas: Buildings & Properties, Transport & Infrastructure, Energy, Oil & Gas, Industry, Environment & Natural resources and Architecture. The Company has an operating history that spans more than a century, with the inception of Norsk Vandbygningskontor in 1908. In 2015 Multiconsult completed more than 9 000 projects for approx. 4 000 different customers.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.