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Norconsult (NORCO) investor relations material
Norconsult Pre-close call presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Financial performance and growth
Achieved 6% organic growth in Q4 2025, adjusted for calendar effects.
Adjusted EBITA margin reached 9.2% in Q4 2025, reflecting stable profitability.
Strong cash flow from operating activities at NOK 884 million in Q4 2025.
Billing ratio improved to 73.3% in Q4 2025.
Quarterly performance influenced by seasonality and number of working days.
Market outlook and operational updates
Overall market expected to remain stable, with uncertainty from international politics.
Private market for Buildings & Architecture remains slow, but optimism is rising in larger cities.
Infrastructure demand projected to stay stable; energy sector activity remains high.
Mixed development expected in other industries due to geopolitical factors.
Proactive measures underway to improve profitability and efficiency.
Strategic initiatives and integration
Completed acquisition of Metier Group, supporting growth strategy.
Integration of AAJ Group activities continues through Q2 2026.
Estimated calendar effect for Q1 2026 is NOK -66 million compared to the previous year.
- Net revenue topped NOK 10.1bn in 2025, driven by growth, acquisitions, and strong order backlog.NORCO
Q4 202514 Apr 2026 - Leading Nordic consultancy with strong growth, stable margins, and advanced digital capabilities.NORCO
Company presentation26 Mar 2026 - Strong Nordic growth, stable margins, and digital innovation drive robust 2025 performance.NORCO
Investor presentation25 Feb 2026 - Q2 2024 delivered strong growth, stable margins, and robust cash flow amid steady public sector demand.NORCO
Q2 202423 Jan 2026 - 7% organic growth and improved margins in Q3 2025, with stable outlook and key acquisitions.NORCO
Pre-Close presentation16 Jan 2026 - Q3 2024 saw strong growth and margins, with robust liquidity despite share program costs.NORCO
Q3 202416 Jan 2026 - Leading Nordic provider of engineering and consulting services with strong growth and innovation focus.NORCO
SEB Nordic Seminar presentation15 Jan 2026 - NOK 1.43bn acquisition delivers synergies, boosts Nordic infrastructure, and has strong support.NORCO
M&A Announcement27 Dec 2025 - 8% revenue growth, higher margins, and strong cash flow support a NOK 1.70 dividend.NORCO
Q4 202423 Dec 2025
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