Multiconsult (MULTI) Conference presentation summary

Business profile

• More than 4,100 employees serve over 5,500 clients across more than 15,000 projects and 45 countries.

• Business areas span buildings and properties, mobility and transportation, energy and industry, and water and environment.

FY2025 performance

• Net operating revenues NOK 5,657m, up 5.1% YoY; order intake NOK 6,077m, down 5.8% YoY.

• EBITA NOK 394.8m, with a 7.0% margin; adjusted EBITA NOK 431.7m, with a 7.6% margin.

• Billing ratio 71.8%, down 1.0pp YoY; EPS NOK 9.22 and DPS NOK 5.00 per share.

Profitability and financial objectives

• Target annual EBITA margin of 10%, excluding extraordinary items; measures include market-aligned organisation, process optimisation and cost savings.

• Aim for 8–10% compound annual revenue growth from 2025 to 2030, including M&A.

• Target gearing of 1.0–2.0x, maximum 2.5x, with a special 3.0x limit for up to 18 months; maintain equity ratio above 25%.

• Dividend ambition: distribute at least 50% of annual net profit.