dcsimg Ramboll Group delivers solid growth - Ramboll UK Limited
    
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CEO Jens-Peter Saul
09 March 2015

Ramboll Group delivers solid growth

The engineering, management and design consultancy increased revenue by 8% in 2014 measured in local currencies. Globally, more than 2,000 new colleagues joined the company, after the acquisition of the US-based consultancy ENVIRON announced at the end of 2014. Ramboll now has more than 12,300 employees worldwide.
 

The Ramboll Group delivered solid growth in 2014. Revenue increased by 8.0% measured in local currencies and by 6.4% in Danish kroner from DKK 7,794 million in 2013 to DKK 8,292 million. As the acquisition of ENVIRON announced in December 2014 is with effect from 1 January 2015, ENVIRON is not included in the 2014 figures.

Organic growth was 3.0%, which was primarily due to strong organic growth in the UK and Denmark and modest organic growth in Norway, Sweden, Finland, and New Markets and in the company's international business units within Oil & Gas and Energy.

Operating profit before goodwill amortisation (EBITA) was DKK 413 million compared to DKK 390 million in 2013, giving an EBITA margin of 5.0%, which was on the same level as in 2013.

The unchanged EBITA margin compared to 2013 was a result of improvements in Denmark, Sweden, Finland, New Markets, and Ramboll's international Energy business unit. This was offset by declining margins in the UK, Norway and our international business units within Management Consulting and Oil & Gas.

Signature infrastructure projects

During 2014 Ramboll secured several high profile transport infrastructure contracts in the Nordics, as well as a number of hallmark projects in other regions such as the Middle East.

The project wins include a pilot scheme for a new high speed rail crossing over Vejle Fjord in western Denmark, project planning for an express light rail link between Helsinki and Espoo in Finland, and a signaling scheme for the Oslo-Ski rail line, currently Norway's largest transport project. In Stockholm, Ramboll has in partnership with Tyréns and White architects been chosen to conduct a study and plan for the new subway line between Akalla and Barkarby station – one of the city's most important infrastructure projects right now.

In Qatar, Ramboll is the Design Verification Engineer of The Green Line in Doha – an important element in Doha's new metro system. The project comprises 16.6 km of twin bored tunnels, 6 underground stations and a number of other constructions.

"By utilising our global competence base more effectively we have succeeded in winning a number of the largest and most exciting infrastructure projects in the Nordics and the Middle East. This includes utilisation of our global engineering center in Delhi, India which increasingly is becoming a competitive advantage when bidding for buildings and transport projects in our traditional home markets", says Ramboll's CEO Jens-Peter Saul.

Acquisitions drive internationalisation

A number of strategic acquisitions during 2014 have added skills and competencies to the work force, as well as consolidated Ramboll's existing presence and boosted entrance into new markets.

In Finland Ramboll took over a significant part of Pöyry's buildings and construction management businesses becoming the largest engineering consultancy operating in the Finnish market. In Germany the acquisition of the management consultancy company Putz & Partner strengthened Ramboll in the private sector segment as well as provided access to a number of large energy customers.

Just before year-end Ramboll announced the acquisition of US-based global consultancy ENVIRON. The acquisition moves Ramboll into the global Top 10 among environmental consultancies, and represents a major step for the company in becoming truly global.

"The acquisitions made in 2014 support our strategy of having a strong home market position while strengthening our portfolio in high growth market areas such as environment where we are now a globally leading company. In addition to this, ENVIRON coming onboard gives us a strong platform in the US that has been on our strategic agenda for the last years and it gives our international ambition a big push forward", says Jens-Peter Saul.

Key figures and financial ratios

2014

2014

2013

Income statement, DKK million

EUR m

 

 

Revenue

1,113.0

8,291.9

7,794.1

Operating profit before goodwill amort. (EBITA)

55.5

413.2

389.9

Operating profit (EBIT)

38.5

286.7

287.2

Profit before tax

35.6

265.1

252.3

Profit for the year

22.0

163.7

142.8


Balance sheet, DKK million

 

 

 

Total assets

722.3

5,381.3

4,289.5

Shareholders' equity

249.2

1,856.3

1,699.8

Net interest bearing cash/(debts)

51.0

380.2

590.0


Cash flow, DKK million

 

 

 

Cash flow from operating activities

49.4

368.6

463.2

Investment in tangible assets, net

- 22.4

- 166.6

- 104.4

Free cash flow

27.1

202.0

358.8

Acquisitions of companies

- 49.5

- 368.7

- 114.9


Employees

 

 

 

Number of employees, end of year

 

10,809

10,161

Number of full-time employee equivalents

 

10,256

9,593


Financial ratios in %

 

 

 

Revenue growth

 

6.4

3.2

Organic growth

 

3.0

3.7

EBITA margin

 

5.0

5.0

Operating margin (EBIT margin)

 

3.5

3.7

Return on invested capital (ROIC)

 

15.2

11.2

Return on equity (ROE)


9.2

8.5

Cash conversion ratio


82.1

129.3

Equity ratio


34.5

39.6

Contact

Jens-Peter Saul
Jens-Peter Saul
Group Chief Executive Officer
T+45 5161 1000
ECEO@ramboll.com
Bo Pedersen
Managing Director, Support Organisation. Interim Group CFO.
T+45 5161 6624
Ebop@ramboll.com