March 16, 2021
Ramboll delivers satisfactory result despite pandemic
Despite the Covid-19 crisis the Ramboll Group achieved a satisfactory operating profit and very strong cashflow in 2020. With the integration of Henning Larsen and the formation of a new offering in strategic sustainability consulting the global engineering, architecture and management consultancy company further strengthened its leading position in sustainability.
- America’s largest offshore wind farm – In the United States, Ramboll was chosen by the American energy company Dominion Energy to support project development, contract management and commissioning of the Coastal Virginia Offshore Wind project, which will be the largest offshore wind farm in the US and one of the largest in the world.
- Strong growth in the Asian offshore wind market – Ramboll is gaining momentum in the Asian offshore market and has won new contracts in China, Japan, Taiwan and South Korea in the last half of 2020. Ramboll expects a significant growth in its business in the area during the next five to ten years. Offshore wind will be one of the fastest growing segments in the green transition from fossil fuel to low-carbon energy.
- Finland’s tallest timber structure – In Finland, Ramboll provides structural and geotechnical design services, electricity, heating, ventilation, air conditioning services, energy system design services and certification for the timber office building, Keilaniemen Portti. The wooden structure is owned by the Varma Pension Insurance Company.
- Plastic-to-liquid – In Denmark, Ramboll was selected by Norwegian Quantafuel to perform a study for a new plastic-to-liquid plant. Ramboll will provide consultancy services on all development and engineering aspects as well as contract management and procurement strategies and will act as a partner for industrialising Quantafuel’s technology on a global scale.
- Antarctic research stations – In the UK, Ramboll was re-appointed as Technical Advisors to the British Antarctic Survey. The work includes projects to improve and modernise Antarctic research stations and infrastructure helping deliver net zero carbon facilities. The contract was awarded by Natural Environment Research Council, part of UK Research and Innovation.
- Innovative water technology – In the United States, Ramboll was selected to execute a comprehensive master plan for one of the largest surface drinking water treatment plants in Florida. It is the first in the U.S. to pilot the innovative ‘SIX’ drinking water treatment technology.
- Ulsberg and Vindåsliene - The new highway E6 between Ulsberg and Vindåsliene will be built with the internationally recognized Ceequal system, where the goal is to increase sustainability and reduce greenhouse gas emissions throughout the project. Ramboll is an advisor for the 25 km long part of E6 motorway.
- Barkarby Station – In Sweden, Ramboll was selected as the general consultant for Barkarby Station, an important transport hub for the growing Stockholm region.
Key figures and financial ratios | 2020 | 2020 | 2019 |
Income statement, DKK million | EUR m | ||
Revenue | 1,827.3 | 13,613.3 | 14,188.8 |
Operating profit before depreciation and amort. (EBITDA) | 122.3 | 911.1 | 976.0 |
Operating profit before amortisation of goodwill, brand and customer contracts (EBITA) | 91.5 | 681.8 | 762.5 |
Operating profit (EBIT) | 37.3 | 278.0 | 341.1 |
Profit before tax | 33.0 | 246.0 | 307.9 |
Profit for the period | 17.4 | 129.3 | 171.9 |
Balance sheet | |||
Total assets | 1,168.3 | 8,704.1 | 8,748.8 |
Total equity | 329.3 | 2,453.1 | 2,541.4 |
Net interest-bearing cash/ (debt) | 68.5 | 510.5 | (196.7) |
Cashflow, DKK million | |||
Cashflow from operating activities | 169.0 | 1,259.2 | 686.7 |
Investment in tangible assets, net | (17.8) | (132.6) | (218.7) |
Free cashflow | 151.2 | 1,126.6 | 468.0 |
Acquisitions of companies | (38.9) | (289.9) | 92.6 |
Employees | |||
Number of employees, end of period | 15,896 | 15,947 | |
Number of full-time employee equivalents | 14,950 | 14,843 | |
Financial ratios as % | |||
Revenue growth | (4.1) | 25.0 | |
Organic growth | (4.9) | 4.2 | |
EBITDA margin | 6.7 | 6.9 | |
EBITA margin | 5.0 | 5.4 | |
EBIT margin | 2.0 | 2.4 | |
Return on invested capital (ROIC) | 16.6 | 18.6 | |
Return on equity (ROE) | 5.2 | 7.0 | |
Cash conversion ratio | 194.7 | 111.1 | |
Equity ratio | 28.2 | 29.0 |