Ramboll generated gross revenue of DKK 4.2 billion in the first half-year 2014, which was 5% above the same period 2013. This was primarily due to company-wide organic growth of 4% mainly achieved in Ramboll’s business units in Denmark, UK, Finland, Norway, New Markets and Energy.
At DKK 170 million, operating profit before goodwill amortisation (EBITA) was DKK 14 million ahead of first half-year 2013. EBITA margin of 4.1% was 0.1%-point above H1 2013 (4.0%).
In relation to profit, Denmark, Finland, New Markets and Energy delivered a higher EBITA margin compared to the same period last year, whereas UK, Sweden, Management Consulting, and Oil & Gas experienced a lower performance than in the first half of 2013.
Cash conversion for H1 2014 was -4% compared to 59% for H1 2013. However, LTM (Last Twelve Months) cash conversion was 100%.
“All in all, our overall financial performance for the first six months of the year is in line with expectations and indicates that we are on track,” says Jens-Peter Saul, CEO of the Ramboll Group.
Continued focus on acquisitions
Globally, 650 new colleagues joined the company in H1 2014 through acquisitions and another 350 through organic growth, which means that Ramboll now has more than 11,000 employees. In Finland, Ramboll acquired significant parts of Pöyry’s Finnish buildings and construction management businesses making Ramboll the largest engineering consultancy in the country.
In Germany, Hamburg-based management consultancy Putz & Partner joined Ramboll adding approximately 100 new employees and a strong private sector profile, as well as an important customer base in the energy sector.