- Gross revenue reached an all-time high of DKK 17 billion (EUR 2.3bn), an increase of DKK 1 billion (EUR 132.5mn) compared to 2022, while earnings (EBITA) of more than DKK 1 billion (EUR 138.7mn) marks a record high for the company.
- Organic growth was 8.8%, which is slightly above expectations.
- EBITA margin was 6.1%, which is better than in 2022.
- Profit before tax declined compared to 2022 owing to a positive gain in 2022 from divesting part of the company’s Water business in the US, as well as higher restructuring costs in 2023.
- The order book at the end of 2023 stood at 7.1 months of secured revenue corresponding to DKK 8.1 billion (EUR 1.1bn), which is slightly lower compared to 7.6 months secured revenue at the end of 2022.
"Our performance demonstrates the value of our diverse portfolio and strong position across several markets and geographies"
- Building a backbone of the renewable energy transition – In Denmark and Norway, Ramboll is collaborating with national Transmission System Operators, Energinet and Statnett, respectively, to strengthen and expand the countries’ energy grids to keep pace with rising demand for electricity in the countries. In Denmark, Ramboll is also assisting the establishment of the North Sea energy island, which will gather power produced by nearby offshore wind farms and distribute it to millions of users in Western Europe.
- Enabling breakthrough science – In Denmark, at Copenhagen University, Ramboll is assisting the Novo Nordisk Foundation in building an advanced laboratory for the world’s first fully functional quantum computer. Ramboll is also supporting the Novo Nordisk Foundation in developing a new laboratory facility for cell therapy, at the Technical University of Denmark, which will translate breakthroughs in cell therapy research into real-world treatments for people with chronic diseases.
- Fast-tracking low-carbon urban transport – In Norway, Ramboll is helping realise an urban light rail project to enable climate-efficient public transportation. The company is working with client Bybanen Utbygging to plan the fifth phase of the urban light rail from Bergen centre to the Åsane district.
- Supporting the future of food in Singapore – Ramboll is helping develop the Lim Chu Kang Concept Masterplan in Singapore, an exercise to transform the area into a highly productive and resource-efficient agricultural food cluster. It will contribute to Singapore’s 30 by 30 vision, which aims to develop the capability and capacity of the local agri-food industry to produce 30% of the country’s nutritional needs by 2030.
- Fuelling the renewable transition through Power-to-X – In Finland, Ramboll is assisting with establishment of the Kristinestad Power-to-X plant, which will have the capacity to convert 200MW of renewable electricity to green hydrogen and sustainable liquified synthetic methane. In Sweden, Ramboll is supporting client Perstorp to halve direct carbon emissions from its Stenungsund facility. The objective is to produce methanol from renewable energy sources, thereby reducing emissions by 500,000 tons per year – equivalent to cutting Sweden's annual carbon emissions by 1%.
- Designing with nature – In Czechia, Ramboll and Henning Larsen are collaborating to transform the Prague Central Station and surrounding park to a welcoming gateway into the city, prioritising low-emission transport and improved urban liveability. In the Netherlands, Ramboll and Henning Larsen are assisting the building of BESTSELLER’s logistics centre, which will be built primarily of mass timber, as well as have a positive biodiversity impact.
- Enabling sustainable refurbishment – in the UK, Ramboll has supported the refurbishment of 3 Sheldon Square, a 10-storey commercial office in London. By applying circular principles, the operational efficiency was improved by over two thirds as compared with a new development in the construction phase. Ramboll also reduced embodied carbon impacts through the retention and reuse of existing mechanical, electrical, and plumbing equipment and materials.
| Key figures and financial ratios | 2023 | 2023 | 2022 |
| Income statement, DKK million | EURm | ||
| Revenue | 2,283.8 | 17,014.6 | 16,005.8 |
| Net project revenue (NPR) | 1,886.5 | 14,054.2 | 13,168.5 |
| Operating profit before depreciation and amort. (EBITDA) | 167.6 | 1,248.9 | 1,156.8 |
| Operating profit (EBITA) | 138.7 | 1,033.3 | 952.5 |
| Operating profit before interests and tax (EBIT) | 87.7 | 653.1 | 646.5 |
| Profit before tax | 81.5 | 607.4 | 624.9 |
| Profit for the year | 52.4 | 390.5 | 389.8 |
| Balance sheet | |||
| Total assets | 1,396.2 | 10,401.5 | 9,718.1 |
| Total equity | 453.3 | 3,377.9 | 3,206.6 |
| Net interest-bearing cash/ (debt) | 58.4 | 435.1 | 673.3 |
| Cashflow, DKK million | |||
| Cashflow from operating activities | 61.6 | 459.2 | 468.9 |
| Cashflow from investing activities | (56.0) | (417.0) | (361.5) |
| - Investment in tangible assets, net | (32.1) | (239.0) | (255.7) |
| - Acquisitions of companies | (18.8) | (139.8) | (108.8) |
| Cash flow from financing activities | 31.7 | 236.4 | (254.3) |
| Net cash flow for the year | 37.4 | 278.6 | (146.9) |
| Employees | |||
| Number of employees, end of period | 18,301 | 17,546 | |
| Average number of full-time employees | 17,066 | 16,209 | |
| Financial ratios as % | |||
| Revenue growth | 6.3 | 12.6 | |
| Organic growth | 8.8 | 9.9 | |
| Organic growth, Net project revenue (NPR) | 9.3 | 9.5 | |
| EBITDA margin | 7.3 | 7.2 | |
| EBITA margin | 6.1 | 6.0 | |
| EBIT margin | 3.8 | 4.0 | |
| Return on invested capital (ROIC) | 15.8 | 18.1 | |
| Return on equity (ROE) | 11.9 | 12.7 | |
| Cash conversion ratio | 62.6 | 68.8 | |
| Equity ratio | 32.5 | 33.0 | |
| Key figures, sustainability | |||
| Total GHG emissions (Scope 1, 2 & 3), tCO2e | 134,536 | 119,895 | |
| Gender diversity, women/men, % | 37/63 | 37/63 | |
| Total reportable incident rate (TRIR) | 1.21 | 1.85 |
Want to know more?
Jens-Peter Saul
Group CEO
Maj Westh Johansen
Media Relations Managers in Denmark
+45 51 61 18 93
