Norway's Multiconsult Q3 EBITA drops on restructuring costs

Multiconsult ASA

03/11/2026 07:40

Overview
Norway engineering consultancy's Q3 operating revenue rose 2% yr/yr, organic growth was flat
Q3 EBITA margin dropped to 0.5% due to low summer activity and merger costs
Company approved merger with Rejlers to form leading Nordic consultancy group

Outlook
Company did not provide specific financial guidance or outlook for the current or future periods in its press release
Company says overall market outlook remains stable
Multiconsult expects merger with Rejlers to complete around year-end 2026 or early 2027

Result Drivers
OPERATIONAL EFFICIENCY - Co said measures to strengthen operational efficiency contributed to improved profitability towards the end of the qtr
MERGER COSTS - Profitability was negatively impacted by transaction and restructuring costs related to the proposed merger with Rejlers
ORDER INTAKE - Co reported solid order intake, up 12.4% yr/yr, supporting revenue levels

Company press release: ID:nWkr8VmjGl

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
NOK 1.22 bln
 
Q3 EBITA
 
NOK 6.30 mln
 
Q3 EBITA Margin
 
0.50%
 
Q3 Order Backlog
 
NOK 3.82 bln
 
Q3 Orders
 
NOK 1.36 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "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 NOK175.00, about 25.7% above its November 2 closing price of NOK139.20
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Nov 3 - Norway's Norconsult Q3 profit falls
Nov 3 - Norway's Odfjell Technology Q3 results boosted by well services unit
Nov 2 - Denmark medical devices maker Coloplast's Q4 revenue rises

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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.)