Engineering consultancy Ramboll has reported solid performance for the first half of 2023, with an enhanced EBITA (earnings before interest tax and amortization) margin.
In its release, the company said it anticipates a profit margin matching or slightly exceeding the previous year’s figures.
Gross revenue for the first half of the year reached DKK 8.4 billion (€1.12 billion), marking a significant 7.1% surge compared with the same period in 2022.
Organic growth stood at 9.2%, surpassing the 8.3% recorded during the first half of the previous year.
Operating profit (EBITA) increased by DKK 62.3 million (€8.4 million), leading to a 5.2% EBITA margin—a 0.4%-point rise from the prior year’s corresponding period.
Ramboll said its order book was stable level, with 7.8 months of secured revenue translating to DKK 8.5 billion (€1.14 billion).
The company reported growth across key markets, with Denmark, the UK and Germany seeing double-digit growth, while its energy business unit recorded the highest growth of all divisions.
Analysing the figures
Group CEO Jens-Peter Saul, said, “I am pleased to report another solid half-year result for Ramboll. We are continuing the positive growth rate with 9.2% organic growth across the Group, which is above expectations. Our profit is also higher than in the same period last year, although slightly below our expectations.
“A year and a half ago we launched an ambitious strategy, the Partner for Sustainable Change, that goes all-in on sustainability and commits our global resources to improving the sustainability impact of our projects.
“The strategy has played a central part in our successful organic growth that has been steady at close to 10% the past year and a half.”
Describing growth areas for the business, Saul said, “Denmark has shown a particularly strong performance with both high growth and profit, which has contributed significantly to our half-year result.
“The Energy business unit has also continued to show high growth with strong market dynamics due to the increased focus on the green energy transition globally and the war in Ukraine affecting energy supply security.
This has fuelled the energy markets particular within offshore and onshore wind, Power-to-X solutions, carbon capture, utilisation and storage solutions, and in services related to the electrical grid that needs a huge upgrade to keep pace with the massive renewables build out. This high demand for sustainable solutions has had a positive impact on our business.”
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