Multiconsult

Earnings Release • Aug 23, 2016

Multiconsult ASA second quarter 2016: Good earnings and improved order backlog

Multiconsult ASA second quarter 2016: Good earnings and improved order backlog

Oslo, 23 August 2016 - Group net operating revenues increased by 27.5 per cent

to NOK 710.9 million, compared to the same quarter last year. The increase in

revenues was mainly driven by NOK 94.2 million from LINK arkitektur AS, higher

activity, and improved billing ratio to 70.9 per cent. A calendar effect of four

working day increase in production compared to the same quarter last year

impacted net operating revenues for Norwegian operations accordingly. Certain

projects write-downs impacted net operating revenues negatively.

EBITDA for the quarter was NOK 92.0 million, an increase of 29.4 per cent

compared to the same period last year. The increase is mainly explained by

higher net operating revenues arising from the positive calendar effect, and

contribution from LINK arkitektur AS. Higher operating expenses, which are in

line with increased headcount, partly offset the positive effects.

"I am pleased to see that the organization continues to deliver solid results in

a competitive market. The new Tønsberg hospital contract award is of significant

size and strategic value to us and confirms Multiconsult and LINK arkitektur's

position in the hospital market", says CEO of Multiconsult ASA Christian

Nørgaard Madsen.

The order backlog improves at the end of the second quarter and was NOK 1 839.3

million, an increase of 15.0 per cent year on year. The increase is mainly

driven by the large, strategic contract award for the new Tønsberg hospital,

inclusion of LINK arkitektur AS on 30 September 2015 and solid growth from

Transportation & Infrastructure. New contracts awarded during the quarter

include the new hospital in Tønsberg, new bus transit lane in Stavanger, and

Zanzibar energy sector support project among other. The majority of the order

intake was related to new contracts, but important add-ons to and extensions of

existing contracts such as Campus Ås and Radisson Blu Hotel Norge in Norway as

well as Neelum Jhelum in Pakistan were also recorded in the quarter. Call-offs

on frame agreements, such as the important Fosen wind project in Norway, are

included when signed.

Group balance remains solid as of 30 June 2016 with total assets of NOK 1 279.3

million and total equity of NOK 315.7 million. The group had cash and cash

equivalents of NOK 50.0 million, while net interest bearing debt was negative

NOK 40.1 million, i.e. an asset.

The overall market outlook for 2016 remains fairly robust despite the slowdown

in the Norwegian economy. Buildings & Properties is expected to have a modest,

but stable growth. The outlook for the architecture market continues to be

impacted by significant regional variations. Demand from the Oil & Gas industry

is expected to continue at a low level as a result of lower oil prices and lower

investment activity on the Norwegian continental shelf. Public sector investment

is driving a strong outlook for Transportation & Infrastructure within road and

rail. The Energy market remains strong in Norway, especially within transmission

and hydropower. International renewable energy markets continue to grow,

providing new business opportunities for Multiconsult.

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

offering provides a sound base for further growth, both domestic and

international.

A presentation of the second quarter 2016 results will be held today, 23 August,

at 09:00 CET at Felix Konferansesenter, Bryggetorget 3, 0250 Oslo. CEO Christian

Nørgaard Madsen and CFO Anne Harris will hold the presentation.

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

and http://webtv.hegnar.no/presentation.php?webcastId=36209034

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

ABOUT MULTICONSULT ASA

Multiconsult is a leading Norwegian multidisciplinary engineering consulting

company, with more than 2 200 employees and 45 offices in Norway and abroad. The

Company focuses on seven market areas: Buildings & Properties, Transport &

Infrastructure, Energy, Oil & Gas, Industry, Environment & Natural resources and

Architecture. The Company has an operating history that spans more than a

century, with the inception of Norsk Vandbygningskontor in 1908. In 2015

Multiconsult completed more than 9 000 projects for approx. 4 000 different

customers.

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

-12 of the Norwegian Securities Trading Act.