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COPENHAGEN, Denmark, Aug. 24, 2017 -- Gross revenue of USD 798 million was slightly higher than in the first half of 2016. Operating profit before amortisation (EBITA) of USD 41 million was on level with the first half of 2016, giving an EBITA margin of 5.1% compared to 5.2% in the first half of 2016. Profit before tax amounted to USD 27 million compared to USD 21 million in the same period last year.
The first half of the year showed continued solid performance across business units, especially in the Nordics and in the international business units for Water and Environment & Health. The performance of the business unit for Oil & Gas also improved. The Board is satisfied with the result, which is in line with expectations.
Ramboll launched its new Group strategy ‘Winning Together’ at the beginning of 2017, and a key element of the strategy is to further strengthen its presence and service offerings in key markets such as the Nordics, UK and US.
“I am pleased to see that our business units are delivering in line with our strategy by winning and delivering several high profile projects, not least in the Nordics, UK and US, which gives us confidence for the rest of the year and for 2018,” says Jens-Peter Saul, CEO of the Ramboll Group.
Signature projects worldwide
This confidence in the future can be attributed in particular to recent substantial project wins, with the six projects below alone exceeding a fee value for Ramboll of USD 147 million (EUR 135 million).
Ramboll won the consultancy contract for the Fehmarnbelt immersed tunnel between Denmark and Germany, which will engage 70 employees in a joint venture with Arup and TEC during the project’s construction phase. The consortium has collaborated on the design of the tunnel since April 2009 and has now won the bid for client consultancy.
Ramboll also won a major project for Bestseller on a green field project in Brande in Denmark. The extension of the fashion company’s existing headquarters includes retail shops, offices, a high-rise hotel and a conference building. The high-rise building is planned to be over 200 meters high, making it the tallest building in Denmark.
In Finland, Ramboll has been selected to participate in the design of the 25-kilometre Jokeri light rail line between Helsinki and Espoo which is projected to carry more than 100,000 passengers per day by 2040.
Ramboll has also been selected to participate in the expansion of the Helsinki Airport and renovation of Terminal 2 which is a significant air traffic hub and one of the largest bus and train interchanges in Finland.
In the UK, Ramboll, as part of an Arup-led consortium, is assisting with providing environmental overview services for the entire High Speed Phase 2B scheme as well as civil and environmental engineering services for the Nottinghamshire to Leeds and York section of the High Speed 2 line.
Ramboll also just landed a large contract for the design and environmental assessment of the 6-800 kilometre offshore Baltic Pipe, which will connect gas in the North Sea directly with consumers in Central and Eastern Europe and thereby strengthen the security of supply.
In addition to the six projects mentioned above, Ramboll has won a handful of new significant projects in the Americas and Middle East with a total fee value for Ramboll exceeding USD 44 million (EUR 40 million), giving Ramboll a positive outlook also for the Americas and Middle East businesses.
| Key figures and financial ratios | H1 2017 | H1 2017 | H1 2016 | 2016 | ||||
| Income statement, DKK million | EUR m | |||||||
| Revenue | 730.2 | 5,432.4 | 5,413.3 | 10,607.7 | ||||
| Operating profit before depreciation and amort. (EBITDA) | 49.1 | 365.4 | 368.7 | 782.5 | ||||
| Operating profit before goodwill amort. (EBITA) | 37.5 | 278.9 | 278.9 | 602.1 | ||||
| Operating profit (EBIT) | 36.1 | 268.4 | 168.8 | 338.0 | ||||
| Profit before tax | 24.6 | 183.2 | 141.9 | 342.0 | ||||
| Profit for the period | 13.7 | 101.9 | 69.3 | 176.9 | ||||
Balance sheet, DKK million | ||||||||
| Total assets | 818.7 | 6,091.0 | 6,488.0 | 6,383.8 | ||||
| Total equity | 293.0 | 2,180.3 | 2,036.3 | 2,162.3 | ||||
| Net interest bearing cash/ (debt) | (12.2) | (90.7) | (424.9) | 27.3 | ||||
Cash flow, DKK million | ||||||||
| Cash flow from operating activities | (3.8) | (28.0) | (43.6) | 453.6 | ||||
| Investment in tangible assets, net | (8.5) | (63.1) | (55.8) | (124.6) | ||||
| Free cash flow | (12.3) | (91.1) | (99.4) | 329.0 | ||||
| Acquisitions of companies | (13.6) | (101.4) | (51.4) | (50.2) | ||||
Employees | ||||||||
| Number of employees, end of period | 13,263 | 13,194 | 13,024 | |||||
| Number of full-time employee equivalents | 12,432 | 12,343 | 12,497 | |||||
Financial ratios in % | ||||||||
| Revenue growth | 0.4 | 0.4 | 0.2 | |||||
| Organic growth | 0.5 | 1.9 | 0.4 | |||||
| EBITDA margin | 6.7 | 6.8 | 7.4 | |||||
| EBITA margin | 5.1 | 5.2 | 5.7 | |||||
| EBIT margin | 4.9 | 3.1 | 3.2 | |||||
| Return on invested capital (ROIC) | 15.3 | 9.9 | 16.9 | |||||
| Return on equity (ROE) | 9.6 | 6.7 | 8.3 | |||||
| Cash conversion ratio | 20.5 | 19.6 | 119.9 | |||||
| Equity ratio | 35.7 | 31.3 | 33.9 | |||||
About Ramboll
Ramboll is a leading engineering, design and consultancy company founded in Denmark in 1945. The company employs more than 13,000 people globally and has especially strong representation in the Nordics, UK, North America, Continental Europe, Middle East and Asia-Pacific.
With 300 offices in 35 countries, Ramboll combines local experience with a global knowledgebase constantly striving to achieve inspiring and exacting solutions that make a genuine difference to our clients, the end-users, and society at large. Ramboll works across the following markets: Buildings, Transport, Planning & Urban Design, Water, Environment & Health, Energy, Oil & Gas and Management Consulting. www.ramboll.com
Ownership
The Ramboll Foundation is the main owner of Ramboll Group A/S and its main objective is to promote the company’s continuance alongside the long term development of the company, its employees and the communities it serves. All shares in Ramboll Group A/S are owned either by the Ramboll Foundation (98%) or by employees in Ramboll (2%).
Contact Jens-Peter Saul, Group Chief Executive Officer, +45 5161 1893, [email protected] Michael Rosenvold, Group Chief Financial Officer, +45 5161 1893, [email protected] John Reynolds, Public Relations Account Executive, 610-228-0730, [email protected]
