Sandvika, 12 February 2026 (OSE: NORCO): The income after external project costs increased by 12 percent to NOK 2 807 million (2 502) in the fourth quarter of 2025. Organic growth adjusted for calendar effects was 6 percent. The adjusted EBITA margin adjusted for calendar effects was 9.2 percent in the quarter, up from 9.1 percent in the same quarter last year.
Highlights Q4 2025
- Solid growth in income after external project costs of 12 percent to NOK 2 807 million (2 502)
- Negative calendar effects of NOK 5 million
- Organic growth of 6 percent adjusted for calendar effects
- Adj. EBITA was NOK 252 million (227) with an adj. EBITA margin of 9.0 percent (9.1)
- Adj. EBITA margin was 9.2 percent, adjusted for calendar effects
- Net profit of NOK 149 million (203)
- Strong cash flow from operating activities of NOK 884 million (938)
- Earnings per share (EPS) NOK 0.48 (0.68)
- Orderbook increased to NOK 7.7 billion, up from NOK 7.4 billion in Q3 2025
Highlights FY 2025
- Solid growth in income after external project costs of 10 percent to NOK 10 103 million (9 186)
- Negative calendar effects of NOK 16 million
- Organic growth of 6 percent adjusted for calendar effects
- Adj. EBITA was NOK 944 million (879) with an adj. EBITA margin of 9.3 percent (9.6)
- Adj. EBITA margin was 9.5 percent, adjusted for calendar effects
- Net profit of NOK 652 million (498)
- Strong cash flow from operating activities of NOK 1 123 million (1 497)
- Earnings per share (EPS) NOK 2.13 (1.72)
- The Board of Directors proposes a dividend of NOK 1.80 per share for 2025
Comments from CEO Egil Hogna:
“Norconsult delivered another quarter with solid organic growth and stable profitability. The acquisition of the Metier Group in the quarter further strengthens Norconsult’s interdisciplinary offerings. This marks a strong end to 2025 and reflects the Group’s continued development and long-term value creation”
Outlook:
The overall market is expected to continue stable, however, with continued uncertainty linked to the international political situation.
The private market for Buildings & Architecture is still slow, but there are signs of optimism in the larger cities. However, it will likely still take some time before this materialises into increased volumes. The demand in Infrastructure is expected to be stable going forward. We continue to expect a high level of activity in the energy sector, and a more mixed development in other industry markets as geopolitical factors may delay investment decisions in certain market areas.
Norconsult has considerable flexibility with a diversified mix of services and end-market exposures in the Nordics. Most of the demand for our services comes from the public sector. This makes Norconsult less exposed towards short-term cyclicality in the economy in general.
Norconsult will continue to take proactive measures to improve underlying profitability and maintain efficiency in selected parts of the business.
For detailed information, please see the attached report and presentation.
The company will present the results today at 09:00 CET at VIA – House of Oslo, Ruseløkkveien 34, Oslo. The presentation will be held by CEO Egil Hogna and CFO Dag Fladby. The results will also be presented online through a live webcast where the participants will have the opportunity to submit questions.
The live webcast can be accessed at: https://qcnl.tv/p/_9kAt_SxLUaaDbrX4Y4n7w
For further information, please contact:
Investors: Christian Salbu Aasland, SVP Investor Relations & Business Intelligence, IR@norconsult.com
Media: Henrik Charlesen, Senior Communication Advisor, Henrik.Charlesen@norconsult.com
This information is considered to be inside information pursuant to the EUR Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Elin Spieler, Head of Treasury and Investor Relations Manager, Norconsult ASA at the date and time as set out above.
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About Norconsult:
Norconsult is a leading pan-Nordic interdisciplinary consulting firm combining engineering, architecture and digital expertise across projects of all sizes, for private and public customers in infrastructure, energy and industry, buildings and architecture. Headquartered in Sandvika, Norway, Norconsult’s delivery model is centred around knowledge hubs and local presence through approximately 7,200 employees across more than 140 offices in Norway, Sweden, Denmark, Iceland, Poland and Finland.