Ramboll delivers solid half year results despite difficult market conditions

Ramboll delivers solid half year results despite difficult market conditions

COPENHAGEN, Denmark, Aug. 22, 2016 (GLOBE NEWSWIRE) — Gross revenue of DKK 5.4 billion was slightly higher than in the first half of 2015 despite continued adverse conditions in the oil & gas related markets. Operating profit before amortisation (EBITA) of DKK 279 million was DKK 91 million higher than the same period last year. EBITA margin of 5.2% was 1.7%-point higher than in the first half of 2015 (3.5%). Profit before tax was DKK 142 million compared to DKK 82 million in the same period last year. Globally, Ramboll now has 13,200 employees in 35 countries.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e616973b-8451-488c-b33c-01b60cb8a762

“Ramboll has delivered a significantly better first half year result in 2016 than in the same period last year. I’m pleased that over the last 12 months, we have managed to deliver the highest operating profit (EBITA) in the company’s history despite challenging market conditions. The continued difficult oil & gas market and the yet unknown consequences of Brexit give rise to uncertainties and challenges in the future that we are determined to overcome. However, with a strong client focus we expect continued growth in the second half of 2016 and a healthy result for the full year”, says Jens-Peter Saul, CEO of the Ramboll Group. 

A global leader in green energy solutions
The satisfying half year result can in particular be attributed to solid performances in the Nordic business units and in the global Energy business unit – clear evidence that Ramboll has created a strong foothold in the global market for green energy.

In the first half of 2016, Ramboll secured several high-profile projects globally especially within the green energy sector.

Project wins include the design of one of China’s largest offshore wind farms consisting of 100 turbines with a capacity of 400 megawatts, which amounts to the total energy consumption of 350,000 households.

In the UK, Ramboll has been appointed to provide engineering consultancy to the conversion of Lynemouth Power Station from coal to biomass, which will reduce CO2 emissions from the plant by 90 percent.

In the US, Ramboll will support New York with their important efforts on climate adaptation by helping the city adapt to and manage storm water in a changing climate.

In Denmark, project wins include consultancy for hundreds of million DKK related to the construction of laboratories and production facilities for the pharmaceutical industry.

In addition, the much anticipated Tate Modern extension in London opened in June 2016. Ramboll was appointed by the Trustees of Tate and over a number of years has played an intrinsic role in helping to realise the vision for the extension of the museum, which is one of the most visited modern art galleries in the world.

Key figures and financial ratios H1 2016 H1 2016 H1 2015   2015  
Income statement, DKK million EUR m      
Revenue   726.6     5,413.3     5,391.0     10,589.3  
Operating profit before goodwill amort. (EBITA)   37.4     278.9     188.1     474.7  
Operating profit (EBIT)   22.7     168.8     74.3     146.7  
Profit before tax   19.0     141.9     82.0     222.6  
Profit for the period   9.3     69.3     33.5     75.4  

Balance sheet, DKK million
Total assets   870.9     6,488.0     6,792.3     6,837.5  
Shareholders’ equity   272.9     2,032.9     2,058.1     2,109.7  
Net interest bearing debt   (57.0 )   (424.9 )   (582.6 )   (194.1 )

Cash flow, DKK million
Cash flow from operating activities   (5.9 )   (43.6 )   (52.3 )   515.8  
Investment in tangible assets, net   (7.5 )   (55.8 )   (59.8 )   (166.7 )
Free cash flow   (13.4 )   (99.5 )   (112.1 )   349.1  
Acquisitions of companies   (6.9 )   (51.4 )   (850.4 )   (1,081.4 )
Number of employees, end of period     13,194     12,841     13,074  
Number of full-time employee equivalents     12,343     12,137     12,269  
Financial ratios in %        
Revenue growth     0.4     29.7     27.7  
Organic growth     1.9     1.3     1.5  
EBITA margin     5.2     3.5     4.5  
Operating margin (EBIT margin)     3.1     1.4     1.4  
Return on invested capital (ROIC)     9.9     7.3     8.5  
Return on equity (ROE)     6.7     3.4     3.8  
Cash conversion ratio     19.6   Neg.     125.8  
Equity ratio     31.3     30.3     30.9  

About Ramboll
Ramboll is a leading engineering, design and consultancy company founded in Denmark in 1945. The company employs 13,200 globally and has especially strong representation in the Nordics, UK, North America, Continental Europe, Middle East and Asia-Pacific.

With more than 300 offices in 35 countries, Ramboll combines local experience with a global knowledgebase constantly striving to achieve inspiring and exacting solutions that make a genuine difference to our clients, the end-users and society at large. Ramboll works across the markets: Buildings, Transport, Planning & Urban Design, Water, Environment & Health, Energy, Oil & Gas and Management Consulting. www.ramboll.com

The Ramboll Foundation is the main owner of Ramboll Group A/S and its main objective is to promote the company’s continuance alongside the long-term development of the company, its employees and the communities it serves. All shares in Ramboll Group A/S are owned by either the Ramboll Foundation (98%) or Ramboll employees (2%).

Contact John Reynolds, 610-228-0730, [email protected]