Multiconsult

Earnings Release • Oct 22, 2018

Multiconsult ASA profit warning

Multiconsult ASA profit warning

In what is a seasonally weak quarter, Multiconsult ASA expects to report a small

positive EBIT for the third quarter 2018. Losses in LINK arkitektur and

International segments, as well as lower than expected earnings in The Greater

Oslo Area and Regions Norway are the main sources of disappointing group

earnings.

LINK arkitektur delivered a loss in the quarter mainly due to low project

activity in Denmark as a result of unsuccessful tendering and high tendering

activity in Norway. Increased project expenses combined with low project

activity in Multiconsult UK and no project activity in Multiconsult Asia

resulted in a loss in the International segment.

In Norway, The Greater Oslo Area and Regions Norway continue to improve

utilization levels compared to last year. However, growth in billing rates

continues to lag behind growth in salaries for the Norwegian workforce. This was

exacerbated in the third quarter due to the impact of the annual salary

increases effective from 1 July and the timing and extent of subsequent price

adjustments to customers.

Pressure on billing rates in the industry persists and continues to challenge

profitability.

Year to date EBIT margin is expected to be slightly below 4%. Group

profitability for FY 2018 is expected to end at a similar level to FY 2017.

Further information about the third quarter results, intensified profit

improvement measures and a capital market update will be presented in connection

with Multiconsult ASA´s third quarter 2018 earnings release on Thursday 8

November at 07.00 CET. The complete report and presentation will be available at

www.multiconsult-ir.com and www.newsweb.no.

For further information, please contact:

Investor relations:

Mirza Koristovic, Head of Investor Relations

Phone: +47 93 87 05 25

E-mail: ir@multiconsult.no

Media: Gaute Christensen, VP Communications

Phone: +47 911 70 188

E-mail: gaute.christensen@multiconsult.no

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.