Norway's Multiconsult Q1 revenue up 5.5% on improved billing rates, new projects

Multiconsult ASA

12/05/2026 06:14

Overview

The Norwegian engineering consultancy's Q1 net operating revenue rose 5.5% yr/yr

Q1 EBITA margin fell to 10.0% from 12.5% due to negative calendar effect

Company announced CEO transition effective June 2026

Outlook

Company says overall market outlook remains unchanged with several new opportunities in the pipeline

Multiconsult continues structured measures to improve margins in line with 10% profitability target

Company says timing of cost reduction effects will vary over the calendar year

Result Drivers

NEGATIVE CALENDAR EFFECT - Profitability was negatively impacted by a calendar effect and a lower billing ratio, according to the company

HIGHER BILLING RATES - Improved billing rates contributed positively to revenue and profitability, per CEO Grethe Bergly

PROJECT WINS - Order intake was supported by significant new contracts, especially in defence-related engineering and architectural services

Company press release: ID:nWkrb0N2hD

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
NOK 1.61 bln
Q1 EBITA
NOK 160.50 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy."

Wall Street's median 12-month price target for Multiconsult ASA is NOK185.00, about 17.4% above its May 11 closing price of NOK157.60

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)