Norway's Multiconsult Q2 operating revenue rises on higher billing rates

Multiconsult ASA

18/08/2026 06:11

Overview
Norway engineering consultant's Q2 revenue rose 7.8% yr/yr, driven by higher capacity and billing rates
Q2 EBITA margin improved to 7.1% from 4.8%, aided by cost control and calendar effect
Order intake in Q2 rose 8.4% yr/yr, with backlog at NOK 3.95 bln

Outlook
Company says overall market outlook remains stable
Multiconsult remains focused on improving profitability through 2026 and beyond
Company aims to deliver stable profitability in line with targets

Result Drivers
CAPACITY AND BILLING RATES - Co said increased capacity and higher billing rates were the main drivers of revenue growth
COST CONTROL - Improved profitability was attributed to strengthened cost control, according to CEO Karsten Warloe
CALENDAR EFFECT - Positive calendar effect contributed NOK 49.7 mln to net operating revenues and operating results

Company press release: ID:nWkrTrtp6

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
NOK 1.53 bln
 
Q2 EBITA
 
NOK 108.20 mln
 
Q2 EBITA Margin
 
7.10%
 
Q2 Order Backlog
 
NOK 3.95 bln
 
Q2 Orders
 
NOK 1.67 bln
 
Q2 Organic Growth
 
0.70%
 

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 NOK180.00, about 19% above its August 17 closing price of NOK151.20
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
Aug 18 - China State Construction H1 profit falls on fewer new projects; cuts dividend
Aug 17 - Denmark's AO Johansen Q2 revenue rises, aided by acquisition; lifts 2026 outlook
Aug 18 - Norway's Mowi Q2 revenue rises on higher harvest volumes

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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.)