Multiconsult

Earnings Release • Aug 26, 2015

Multiconsult second quarter 2015 results: Improved billing ratio and strong earnings

Multiconsult second quarter 2015 results: Improved billing ratio and strong earnings

Oslo, 26 August 2015 - Underlying EBITDA for the quarter, adjusted for one-off

IPO expenses, rose 34 per cent to NOK 71.1 million. Focused efforts on improving

the billing ratio proved successful, which combined with a positive calendar

effect and high project activity led to increased profitability. Group net

operating revenues increased by 14 per cent to NOK 557.5 million, driven by high

project activity within Transportation & Infrastructure, Energy, Buildings &

Properties and Industry.

"I am very pleased to see that our intensified and focused efforts to improve

the billing ratio have proved successful, leading to improved profitability. We

will continue to focus on strong project execution and efficiency throughout the

organisation going forward", says Mr Christian Nørgaard Madsen, CEO of

Multiconsult ASA.

Order backlog remains solid at NOK 1 600.0 million at the end of the quarter.

Multiconsult won contracts within all business areas during the quarter,

confirming the company's strong competitive position.

The group's cash flow in the quarter was negative NOK 314.0 million, reflecting

payments of ordinary and extraordinary dividends totaling NOK 275.6 million as

well as one-off IPO expenses.

The group's financial position at 30 June 2015 was strong, with total assets of

NOK 1 028.9 million and total equity of NOK 295.9 million. Cash and cash

equivalents amounted to NOK 190.6 million, while net interest bearing debt was

negative NOK 179.7 million, i.e. an asset.

In August 2015, Multiconsult entered into agreements to acquire the remaining 68

per cent of the shares in LINK arkitektur AS.  LINK represents an excellent

strategic fit for Multiconsult, offering the potential for significant value

creation through operational synergies as well as further strengthened value

proposition to customers.

The overall market outlook for 2015 remains fairly robust, but with variations

among the business areas. Competition is particularly fierce within the

transportation and building sectors and this may lead to increased pressure on

pricing. Multiconsult's strong market position, flexible business model and wide

service offering provides a sound base for further growth.

A presentation of the second quarter 2015 results will be held today, 26 August,

at 09:00 CET at Hotel Continental, Stortingsgaten 24/26, Oslo. The presentation

will be held by CEO Christian Nørgaard Madsen and CFO Anne Harris. A live

webcast from the presentation can be accessed at  www.multiconsult-ir.com .

For further information, please contact:

Investor relations:

Mitra Hagen Negård, Head of Investor Relations

Phone: +47 95 79 36 31

E-mail:  ir@multiconsult.no

Media:

Gaute Christensen, VP Communications

Phone: +47 911 70 188

E-mail: gaute.christensen@multiconsult.no

ABOUT MULTICONSULT ASA

Multiconsult is a leading Norwegian multidisciplinary engineering consulting

firm, with more than 1 700 employees and 30 offices in Norway and abroad.

Multiconsult's home market is Norway, representing 92 per cent  of 2014

operating revenues. The Company focuses on six market areas: Buildings and

Properties, Transport and Infrastructure, Energy, Oil and Gas, Industry and

Environment and Natural resources. The Company has an operating history that

spans more than a century, with the inception of Norsk Vandbygningskontor in

1908. In 2014, Multiconsult completed more than 8 000 projects for approx. 3 700

different customers.

This announcement includes forward-looking statements which are based on our

current expectations and projections about future events. Forward-looking

statements involve known and unknown risks and uncertainties and are not

guarantees of future performance.

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

-12 of the Norwegian Securities Trading  Act.