Market Overview

Ramboll sees significant growth in the first half of 2018

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COPENHAGEN, Denmark, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Ramboll experienced significant overall growth in the first six months of 2018, which includes the addition of more than 700 employees over the last year, bringing the total workforce to more than 14,000 employees globally. Gross revenue of DKK 5,680 million was slightly higher than in the first half of 2017. Organic growth was 7.1% compared to 0,5% in the same period last year. Operating profit before amortisation (EBITA) of DKK 275 million was slightly lower than in the first half of 2017, primarily due to exchange rate movements and fewer working days in the year, giving an EBITA margin of 4.8% compared to 5.1% in the first half of 2017. Profit before tax amounted to DKK 205 million compared to DKK 183 million in the first half of 2017. At the end of the first half year, Ramboll's order book amounts to DKK 6.6 billion, which is an increase of 17% compared to year-end 2017 (DKK 5.6 billion).

"Our first-half result confirms that our strategic initiatives and growth measures are paying off," says Group CEO Jens-Peter Saul. "We have achieved strong organic growth with significant improvements in the US, UK, Middle East and Asia and in our Environment & Health international business unit. We are also pleased by enhanced organic growth in Norway, whereas we are impacted by reduced public investment in transport and energy in Denmark."

"Looking ahead, we will continue our strategic priorities for 2020 to ensure that Ramboll is at the forefront of digital development and create value for our clients through innovation and digitalisation. We will also concentrate on our global Spearhead services, which are already performing well, as drivers for future growth."

"We are continuously increasing our order book and we are confident that we will finish 2018 with strong growth and a profit on level with last year," says Jens-Peter Saul.   

Large-scale projects worldwide
Across all markets, Ramboll succeeded in winning and delivering inspiring, high-profile projects around the world.

In the US, Ramboll has entered into a pioneering collaboration agreement with Stanford University to develop Danish water technology solutions and apply these to California's new groundwater program. In recent years, California has faced problems with groundwater pollution and decreasing groundwater levels due to long-lasting drought and a booming agricultural industry. One of the project's focus areas is to map the California groundwater with a combination of systematic helicopter missions and detailed mapping of the subsoil to manage groundwater resources in a more efficient and sustainable way.

In Denmark, Ramboll won the competition to design Denmark's tallest residential building, which will be situated on the harbour front in Aarhus. The clay subsoil in Aarhus harbour poses special challenges for the foundations, which means that new methods are needed - including some never used before in Denmark. The iconic building therefore calls for engineering expertise far beyond the ordinary, and Ramboll's foreign high-rise experts were a decisive factor in winning the project.

In India, Ramboll won a significant contract for detailed design services and technical support during the construction of India's longest sea bridge. The Mumbai Trans Harbour Link, joining Mumbai with the satellite city of Navi Mumbai, will be a six-lane highway with two emergency exit lanes and a length of 21.8 kilometres. The new bridge will play a crucial role in future growth in India, providing access to new jobs and housing for hundreds of thousands of people in the fast-growing Navi Mumbai when completed by the end of 2022.

In Cyprus, Ramboll will provide consultancy services in support of the retrofit of environmental emission abatement technologies and for natural gas infrastructure and heavy fuel oil to natural gas boiler conversion works at Vasilikos power station. The power station, the largest in Cyprus comprising five separate generating units, will undergo significant environmental performance improvement works and also preparatory works for fuel conversion to natural gas, aligned with plans to bring natural gas to Cyprus.

Key figures and financial ratios H1 2018 H1 2018 H1 2017 2017  
Income statement, DKK million
EUR m
     
Revenue 762.5   5,680.8   5,432.4   10,740.3  
Operating profit before depreciation and amort. (EBITDA) 47.2   351.7   365.4   788.3  
Operating profit before goodwill amort. (EBITA) 36.9   275.2   278.9   618.9  
Operating profit (EBIT) 24.7   183.7   268.4   441.1  
Profit before tax 27.5   204.6   183.2   307.8  
Profit for the period 15.9   118.5   101.9   146.1  
 
Balance sheet
       
Total assets 890.7   6,635.6   6,091.0   6,412.6   
Total equity 296.4   2,208.5   2,180.3   2,180.1   
Net interest-bearing cash/ (debt) (78.4 ) (584.3 ) (90.7 ) 81.3   

Cash flow, DKK million
       
Cash flow from operating activities (15.3 ) (113.8 ) (28.0 ) 317.1  
Investment in tangible assets, net (11.7 ) (87.2 ) (63.1 ) (147.9 )
Free cash flow (27.0 ) (201.0 ) (91.1 ) 169.2  
Acquisitions of companies (49.5 ) (368.8 ) (101.4 ) (116.0 )

Employees
       
Number of employees, end of period   14,020   13,263   13,401  
Number of full-time employee equivalents   12,748   12,432   12,527  

Financial ratios in %
       
Revenue growth   4.6   0.4   1.2  
Organic growth   7.1   0.5   2.8  
EBITDA margin   6.2   6.7   7.3  
EBITA margin   4.8   5.1   5.8  
EBIT margin   3.2   4.9   4.1  
Return on invested capital (ROIC)   14.9   15.3   17.9  
Return on equity (ROE)    7.4   9.6   6.7  
Cash conversion ratio    (8.8 ) 20.5   64.5  
Equity ratio    33.3   35.7   34.0  

About Ramboll
Ramboll is a leading engineering, design and consultancy company founded in Denmark in 1945. The company employs more than 14,000 people globally and has especially strong representation in the Nordics, UK, North America, Continental Europe, Middle East and Asia-Pacific.

With 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 following markets: Buildings, Transport, Planning & Urban Design, Water, Environment & Health, Energy and Management Consulting. www.ramboll.com

Ownership
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 either by the Ramboll Foundation (98%) or by employees in Ramboll (2%).

Contact
Jens-Peter Saul, Group Chief Executive Officer, +45 5161 1893, CEO@ramboll.com
Marianne Sørensen, Group Chief Financial Officer, +45 5161 1893, MASRE@ramboll.com

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