Norconsult (NORCO) Investor presentation summary

Market position and growth trajectory

• Holds the leading market share in Norway and is expanding rapidly across the Nordics, with a 10% CAGR in Norway, 15% in Sweden, and 14% in Denmark from 2022 to 2025.

• Manages a diversified portfolio of ~35,000 projects and ~15,000 customers, balancing public and private sector relationships.

• Pursues a growth strategy combining two-thirds organic growth and one-third M&A, with a strong acquisition track record since 2014.

Business model and financials

• Operates an asset-light, cost-plus business model with 80% of revenue from time & material contracts and 20% from fixed price.

• Maintains stable margins through risk diversification and index-regulated contracts.

• Achieves a stable adjusted EBITA margin and 10% net revenue CAGR over recent years.

Service offerings and project lifecycle

• Provides architecture, engineering, project management, and digital solutions across the full project lifecycle, from planning to operations and maintenance.

• Applies technology and digital solutions throughout all project phases to enhance quality and productivity.