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Multiconsult (MULTI) investor relations material
Multiconsult Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Stable performance in Q3 2025 amid a competitive market, with organic revenue growth of 6.7% year-over-year and key growth drivers in defence, energy, and industry.
Profitability declined due to increased competition, higher costs, and margin pressure, with EBITA margin below target.
Strong order backlog and continued wins in strategic areas, including new defence agreements and large projects supporting production into 2027.
Ongoing restructuring, cost initiatives, and integration of ViaNova to improve profitability and efficiency.
Management transition underway, with CEO succession process ongoing and new leadership appointments.
Financial highlights
Net operating revenue for Q3 2025 was NOK 1,196.4 million, up 4.2% year-over-year; organic revenue growth was 3.8%.
EBITA for Q3 was NOK 62.1 million (5.2% margin), down from NOK 102.9 million (9.0%) in Q3 2024.
Order intake was NOK 1,205 million, with order backlog at NOK 4,316 million, both lower year-over-year but still high.
Earnings per share for the quarter were NOK 1.41.
Operating expenses rose 8.8% year-over-year, mainly due to higher salaries and increased staffing.
Outlook and guidance
Market outlook remains stable but with increased uncertainty, especially in buildings and property.
Defence, energy, industry, and infrastructure expected to drive future growth; building and property expected to remain challenging.
Target to restore EBITDA margin to 10% by end of 2026 through improved billing ratios and cost measures.
Lower interest rates may boost investments, but energy transition projects face timing and political risks.
Address salary vs. rate gap strategy?
Impact of slower framework agreement starts?
Sotra project legal proceedings impact?
Specific actions to restore EBITA margin?
How to manage large project decision delays?
Plans for International segment's low margin?
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Next Multiconsult earnings date
Q4 202510 Feb, 2026
Next Multiconsult earnings date
Q4 202510 Feb, 2026
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Frequently asked questions
Multiconsult ASA offers environmental and geotechnical services, such as environmental impact assessments, as well as quality assurance, project management, and monitoring services. The company also provides transport and infrastructure services comprising planning and design of road, railway, port and terminal projects; public transport planning and optimization of transport networks; rail security systems; procurement and logistics services; municipal planning; and traffic management. In addition, it designs buildings in various segments comprising kindergartens, schools, hospitals, commercial buildings, industrial buildings, residential buildings as well as markets engineering consultancy services; clean room technology services to the pharmaceutical industry; sports facility design services; advisories that include risk analysis related to flooding and landslides in the municipality sector.
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