Multiconsult (MULTI) Q4 2024 earnings summary

Executive summary

• Achieved high activity and stable operational performance in Q4 2024, with robust order intake and a record-high order backlog.

• Net operating revenue for Q4 grew 6% year-over-year to NOK 1,443.3 million; organic growth was 4.8%.

• Full-year net operating revenue reached NOK 5,384 million, up 12.1% year-over-year, with 10% organic growth.

• EBITA for FY 2024 increased 24.8% to NOK 523.4 million, with a margin of 9.7%.

• Board proposes a dividend of NOK 10.00 per share, reflecting solid financial results.

Financial highlights

• Q4 EBITDA was NOK 98 million, margin 6.8%, down from 8.7% in Q4 2023.

• Full-year EBITDA was NOK 523.4 million, up 24.8%, with a margin of 9.7%.

• Q4 net profit was NOK 89.7 million; full-year net profit was NOK 413.3 million, up 30.5% year-over-year.

• Q4 order intake was NOK 1,798 million (+25.7% y-o-y); order backlog at year-end was NOK 4,851 million.

• Earnings per share for FY 2024 was NOK 15.11, up from NOK 11.56.

Outlook and guidance

• Market outlook remains good and stable, with increased investments in defense and energy sectors.

• High project volume and diversified order backlog support optimism for 2025.

• Continued uncertainty and increased competition in some markets and segments.

• Infrastructure market stable; housing and real estate expected to remain challenging.

• Good order intake in early 2025 and a solid pipeline of framework agreements.