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Multiconsult third quarter result 2024 – very strong quarter

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OSLO, Norway, Nov. 6, 2024 /PRNewswire/ — Multiconsult ASA (OSE: MULTI)
Multiconsult delivered a very strong quarter, continuing the positive momentum. EBITA came in at NOK 102.9 million (29.2), equal to an EBITA margin of 9.0 per cent. The performance was influenced by high activity, with a billing ratio of 71.2 per cent, 3.4 percentage points higher than the comparable quarter last year. Net operating revenues grew by 17.5 per cent to NOK 1 148.4 million, the organic revenue growth was 15.9 per cent adjusted for the calendar effect. There was an impact of one more working day compared to the same period last year, with an estimated negative effect of NOK 6.1 million on net operating revenues and EBITA. The order intake was NOK 1 277 million resulting in an order backlog of NOK 4 838 million. During the quarter, Multiconsult resolved a contractual dispute with a client, resulting in a settlement payment of NOK 31.2 million, which is reflected in the group results.

THIRD QUARTER 2024

Very strong quarter, driven by robust operational performance and high activityNet operating revenues increased by 17.5 per cent to NOK 1 148.4 million (977.0)The organic revenue growth adjusted for the calendar effect was 15.9 per centEBITA of NOK 102.9 million (29.2), equal to an EBITA margin of 9.0 per cent (3.0)       Net operating revenues and EBITA impacted negatively by NOK 6.1 million from the calendar effect compared with third quarter 2023EBITA adjusted for one-offs was NOK 71.7 million (29.2), equal to an EBITA margin of 6.4 per cent (3.0)Net operating revenues and EBITA impacted by a one-time settlement payment from client of NOK 31.2 million related to a contractual disputeSignificantly improved billing ratio of 71.2 per cent (67.8), up 3.4ppOrder intake of NOK 1 277 million (1 349)Order backlog of NOK 4 838 million (5 094)Full-time equivalents (FTE) increased by 2.1 per cent, to 3 541 (3 469)Net profit of NOK 80.2 million (9.6)Earnings per share NOK 2.95 (0.40)The overall market outlook remains good and stable

YEAR TO DATE 2024

Net operating revenues of NOK 3 940.3 million (3 441.0), a y-o-y growth of 14.5 per centThe organic revenue growth adjusted for the calendar effect was 12.2 per centEBITA of NOK 425.4 million (301.1), equal to an EBITA margin of 10.8 per cent (8.8)   Net operating revenues and EBITA impacted negatively by NOK 27.2 million from the calendar effect compared with same period 2023EBITA adjusted for one-offs was NOK 394.1 million (301.1), equal to an EBITA margin of 10.1 per cent (8.8)Net operating revenues and EBITA impacted by a one-time settlement payment from client of NOK 31.2 million related to a contractual disputeOrder intake of NOK 4 655 million (5 495)Net profit of NOK 323.7 million (203.7)Earnings per share 11.83 (7.46)Full-time equivalents (FTE) increased by 6.0 per cent, to 3 540 (3 340)

EXTRACT OF COMMENTS FROM CEO, GRETHE BERGLY: 

“Multiconsult delivered a very strong quarter, continuing the positive momentum. A continued high billing ratio throughout this quarter attests to the elevated activity levels across the organisation and in all business areas. We continue to achieve impressive results driven by robust operational performance and high activity levels in many of our large projects. I would like to express my gratitude to all our employees for their contributions to these results. 

Three years into the strategy period, we have seen significant changes in our surroundings and macro-economic situation, which have also impacted our client base. In light of this, we have updated our strategy, and this will be presented in the Capital Markets Day presentation following the presentation of the third quarter results. 

We continue to experience strong demand for our services, there are however variations in the market situation across geographical locations and business areas. With the ongoing geopolitical challenges, our strong references related to the defence sector is creating new business opportunities and we are well positioned for the increase in activities, both within the sector and to all services related to this market. It is a significant achievement that Multiconsult, at the start of November, was awarded a NOK 450 million framework agreement with the Norwegian Defence Estates Agency (NDEA) (Forsvarsbygg). 

Looking ahead, Multiconsult is in a strong position to handle a changing market and support our clients’ needs. Our solid order backlog, focus on sustainability, and growth in key areas position us well for future opportunities. With our dedicated teams and strong foundation, I am confident we will continue to build on our success.”

For a full review of comments from CEO, please refer third quarter 2024 interim report.

FINANCIAL REVIEW, THIRD QUARTER 2024:

Net operating revenues amounted to NOK 1 148.4 million (977.0), an increase of 17.5 per cent compared to the same quarter last year. The organic revenue growth amounted to 15.9 per cent, adjusted for calendar effect and acquisition. The increase in net operating revenues was driven by increased capacity, higher billing rates, higher billing ratio and a one-time settlement payment from client of NOK 31.2 million. The billing ratio exceeded last year’s comparable quarter by 3.4 percentage points, reaching 71.2 per cent (67.8). Higher capacity, reflected by an increase in full-time equivalents (FTE) of 2.1 per cent contributed positively.

Operating expenses consist of employee benefit expenses and other operating expenses. Operating expenses increased by 10.7 per cent to NOK 984.7 million (889.8) compared to the same quarter in 2023. Employee benefit expenses increased by 10.4 per cent in line with ordinary salary adjustment, increased staffing level from acquisitions, and increase in net recruitment. Other operating expenses increased by 12.0 per cent to NOK 154.0 million (137.4), primarily due to higher IT-cost and cost increase in general.

EBITDA was NOK 163.8 million (87.2), an increase of 87.8 per cent compared to the same period last year, reflecting an EBITDA margin of 14.3 per cent (8.9) in the quarter. 

EBITA was NOK 102.9 million (29.2), an increase of 252.3 per cent year-over-year, reflecting an EBITA margin of 9.0 per cent (3.0) in the quarter. 

EBITA adjusted for one-offs was NOK 71.7 million, reflecting an EBITA margin of 6.4 per cent (3.0) in the quarter. One-off related to settlement payment of contractual dispute of NOK 31.2 million

Calendar effect: In the third quarter there was one more working day compared to the third quarter of 2023, two additional days in July and one fewer day in August 2024. This had an estimated negative impact of NOK 6.1 million on net operating revenues and operating results. In connection with number of working days in comparable periods Multiconsult uses alternative performance measures to provide a better understanding of the group’s underlying financial performance, see last section of this report.

FINANCIAL REVIEW, YEAR TO DATE 2024:

Net operating revenues increased by 14.5 per cent to NOK 3 940.3 million (3 441.0). The organic revenue growth amounted to 12.2 per cent, adjusted for calendar effect and acquisition. The increase in net operating revenues was driven by increased capacity, reflected by an increase in full-time equivalents (FTE) of 6.0 per cent, higher billing ratio, and higher billing rates. The billing ratio increased to 72.9 per cent (70.4), an increase of 2.5 percentage points.

Operating expenses consist of employee benefit expenses and other operating expenses. Reported operating expenses increased by 12.1 per cent to NOK 3 334.5 million (2 973.3) compared to the same period last year. Employee benefit expenses increased by 12.7 per cent and came in at NOK 2 869.5 million (2 545.3), an increase driven by net recruitment, regular salary adjustment and employee benefit expenses arising from acquisitions. Other operating expenses increased by 8.6 per cent to NOK 465.0 million (428.0), partly an effect of operating expenses included from prior acquisitions and from cost increase in general.

EBITDA was NOK 605.8 million (467.7), an increase of 29.5 per cent compared to the same period last year, reflecting an EBITDA margin of 15.4 per cent (13.6).

EBITA was NOK 425.4 million (301.1), an increase of 41.3 per cent y-o-y, reflecting an EBITA margin of 10.8 per cent (8.8).

EBITA adjusted for one-offs was NOK 394.1 million, reflecting an EBITA margin of 10.1 per cent (8.8) year to date. One-off related to settlement payment of contractual dispute of NOK 31.2 million in the third quarter.

Calendar effect: As of year to date 2024, the average number of working days was the same as in the corresponding period in 2023. However, due to variations in working days within the months between the two years, there was an estimated negative impact of NOK 27.2 million on net operating revenues and operating results. 

OUTLOOK
The overall market outlook remains good and stable, although there are notable variations across sectors. Key markets are foreseen to maintain a positive trend, despite signs of a slowdown in specific areas. Uncertainty surrounding investment levels and political factors persists, but demand for key services – particularly related to defence, infrastructure and sustainability projects remains strong. The competitive landscape continues to evolve, with pricing and margins for architectural and engineering services remaining sensitive and variable. New opportunities are emerging, contributing to a generally favourable pipeline. The outlook supports continued stability and consistent performance.

For a full review, please refer to third quarter and year to date 2024 report.

Presentations today 6 November 2024: 
Participants are invited to attend the Norwegian presentation that will be held at Hotel Continental, Stortingsgata 24/26, Oslo, Norway at 08:30 (CEST). The results will also be presented through a live webcast. Participants will have the opportunity to submit questions online throughout the webcast sessions.

Third quarter result 2024: 6. November 08:30 CET
Live Webcast: https://channel.royalcast.com/landingpage/hegnarmedia/20241106_8/

Live webcast, complete report, presentation and a recording of the webcast will also be available on https://www.multiconsult-ir.com and https://newsweb.oslobors.no/

For further information, please contact:

Investor relations:
Ove B. Haupberg, CFO
Phone: +47 401 00 900
E-mail: oveb.haupberg@multiconsult.no

Media:
Gaute Christensen, VP Communications
Phone: +47 911 70 188
E-mail: gaute.christensen@multiconsult.no

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/multiconsult/r/multiconsult-third-quarter-result-2024—very-strong-quarter,c4061738

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View original content:https://www.prnewswire.co.uk/news-releases/multiconsult-third-quarter-result-2024–very-strong-quarter-302297263.html

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BlackPearl Technology Unveils the Beacon: The Next-Generation Micro Power-Over-Ethernet Edge Gateway for Unmatched Data Aggregation and Connectivity

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BlackPearl Technology’s Beacon is a compact, PoE-powered gateway that extends the Zephyr gauge, supporting up to 200 sensors over a 15-mile range with secure data processing and seamless SCADA integration, redefining industrial IoT.

THE WOODLANDS, Texas, Nov. 6, 2024 /PRNewswire-PRWeb/ — BlackPearl Technology, Inc. is excited to announce the launch of the Beacon, an extended communications module for the award-winning Zephyr. It redefines edge gateway capabilities, offering unparalleled data aggregation and processing in an ultra-compact, PoE-powered micro device. Seamlessly bridge your wireless infrastructure to wired backends or SCADA systems with ease.

“The Beacon represents a quantum leap in edge gateway technology. By combining it with our Zephyr wireless gauge, we’ve created something truly revolutionary in the industrial IoT space,” said David Smith, Co-Founder & VP of Innovation at BlackPearl Technology, Inc.

Key Features and Benefits:

Powered by the Interceptor: Embedded Linux platform for customizable edge software and processing.Advanced LoRaWAN: Built-in concentrator with 15-mile range; network gateway and join server for isolated nodes – eliminates need for external gatewayMassive Aggregation: Collects data from thousands of sensors via WiFi, Bluetooth, and LoRaWAN – can support up to 200 ZephyrsVersatile Connectivity: Bi-directional communication; bridges wireless to wired systems; supports Modbus TCP/IP, RS-485, and MQTTRobust Security: Implements SSL/TLS support for secure data transmission and encrypted storageUser-Friendly Management: Features an embedded web server for easy configuration and updatesCloud Integration: Enables seamless compatibility with partner and private cloud platforms, supporting cloud-based device management for OTA diagnostics and configuration.Flexible Deployment: Adapts to both greenfield (new sensors) and brownfield (existing) systems, operating seamlessly in isolated environments without cloud connectivity.Industrial-Grade: Operates from -40°C to 85°C, comes in a Class 2, Division 2 enclosure (other enclosures available upon request)Edge Processing: Runs almost any edge application, processes data locally, and transmits only critical informationAvailability: Readily available and made in North America

“The Beacon represents a quantum leap in edge gateway technology. By combining it with our Zephyr wireless instrument gauge, we’ve created something truly revolutionary in the industrial IoT space. You have the Zephyr, which can support up to eleven different sensors in one explosion-proof package, communicating with a micro-sized PoE gateway that can handle up to 200 Zephyrs across a 15-mile range. This isn’t just another data collection system – it’s a complete edge-to-edge solution that can transform how industries handle remote monitoring,” said David Smith, Co-Founder and VP of Innovation at BlackPearl Technology.

“What makes this combination so powerful is its versatility and intelligence at the edge. The Beacon processes data locally and sends only what’s critical, while seamlessly bridging wireless infrastructure to wired backends. Whether you’re monitoring wellheads in the Permian Basin, managing agricultural operations across thousands of acres, or overseeing critical refinery equipment, this system adapts to your needs. And with its industrial-grade design operating from -40°C to 85°C and its ability to work in isolated environments without cloud connectivity, it’s built for the real world, not just the ideal world. This is the future of industrial monitoring, and it’s available today.”

This launch follows the recent introduction of BlackPearl’s Zephyr wireless instrument gauge, and Data Nebula, their IIoT cloud data platform. Together, this trio redefines industrial data management, setting a new standard for IIoT solutions with advanced data aggregation, robust processing power, and versatile connectivity options.

For more information and specifications, or to download the data sheet, please visit www.BlackPearlTechnology.com.

About BlackPearl Technology, Inc.:

Headquartered in The Woodlands, Texas, BlackPearl Technology is a leading provider of innovative IIoT solutions for industries worldwide. Specializing in engineering, manufacturing, and client services, the BlackPearl ecosystem supports the entire product design and development lifecycle from conception to full-scale manufacturing.

The BlackPearl team of skilled electrical, mechanical, software, and firmware engineers is dedicated to bringing innovative ideas to life. By leveraging the latest technology, BlackPearl develops reliable solutions that solve problems and enhance operational processes. All design and development work is conducted in North America.

Media Contact

Stephanie Chavez, BlackPearl Technology, 1 (817)262-8168, schavez@blackpearltechnology.com, https://blackpearltechnology.com/ 

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SOURCE BlackPearl Technology

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MEGAROBO Unveils High-Content Cell Imaging System for Advanced Multidimensional Biological Analysis

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BEIJING, Nov. 6, 2024 /PRNewswire/ — MEGAROBO, a leading provider of advanced productivity tools for life sciences, has recently unveiled the CellVue™ T2000 high-content cell imaging system. The new cell imaging system is more than a digital microscope, featuring a high-sensitivity CMOS imaging camera that seamlessly integrates automated multi-color fluorescence imaging with quantitative data analysis. The system enables in-depth exploration of the multi-dimensional characteristics of individual cells in biological samples, serving a wide range of applications, from basic research to drug discovery and preclinical trials. The technology provides scientists with rapid, high-resolution cell imaging and comprehensive, accurate data support.

As the latest breakthrough in life science research tools, MEGAROBO’s proprietary CellVue™ T2000 builds upon the strengths of traditional high-content imaging systems while achieving remarkable strides in imaging speed, configurability, and functional versatility. With unprecedented efficiency, the system meets the urgent need for high-throughput imaging in complex experimental scenarios, enhancing data stability, reliability, and experimental reproducibility. Furthermore, the solution offers extensive upgrade options for cytotoxicity studies, cell painting and 3D sample studies, ensuring optimal configurations that address the specific needs of different research teams.

In addition, the CellVue™ T2000 has been fully incorporated into AutoBio™, the laboratory automation system developed by MEGAROBO. This integration enables a fully automated workflow from cell seeding, passaging and drug delivery to image detection and analysis. 

“Whether examining the fine structure of the cytoskeleton and nucleus or the spatial relationships between functional proteins, the system can deliver high-definition images and precise data,” said Daniel Huang, Founder and CEO of MEGAROBO. “The capability allows researchers to gain deeper insights into cell biology phenomena and mechanisms. With the CellVue™ T2000 as a starting point, MEGAROBO will continue to facilitate technological innovation in the life sciences sector, inspiring deeper exploration into uncharted territories.”

With a global footprint spanning China, the U.S., Europe, and Southeast Asia, MEGAROBO has solidified its position as a leading force in intelligent automation and life sciences innovation worldwide.

About MEGAROBO

Founded in 2016, MEGAROBO is a science and technology company specializing in providing advanced production tools for life sciences, drug discovery, clinical diagnostics and applied chemistry industries. MEGAROBO has closed the Series C financing round, securing long-term support from key investors including WuXi AppTec, Bosch, Sino Biological, Goldman Sachs Asset Management, Asia Investment Capital, Jiyuan Capital, Sinovation Ventures, Joy Capital, MPCi and Pavilion Capital.

View original content:https://www.prnewswire.com/news-releases/megarobo-unveils-high-content-cell-imaging-system-for-advanced-multidimensional-biological-analysis-302297326.html

SOURCE MEGAROBO

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Propel Holdings named one of Canada’s Enterprise-Industry Leaders winners in Deloitte’s Technology Fast 50 program

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TORONTO, Nov. 6, 2024 /CNW/ – Propel Holdings Inc. (“Propel” or the “Company”) (TSX: PRL) was honored as an Enterprise—Industry Leaders award winner as part of Deloitte’s 2024 Technology Fast 50™ program. The award recognizes the fastest-growing enterprise-level technology, media, and telecommunications companies by revenue growth percentage over their last four years of operation. This category is open to companies that recorded a minimum revenue of $10 million in 2020 and $50 million in 2023.

Propel ranked 11th in the Enterprise—Industry Leaders category after its four-year revenue growth percentage of 333%.

Propel’s CEO Clive Kinross, credits Propel’s AI-powered technology and mission of furthering financial inclusion, along with the team’s relentless drive with the company’s success. Kinross said, “Today, we have enabled close to 1.5 million loans and lines of credit to underserved consumers in North America, but we won’t stop there. Backed by our AI-powered technology and the best talent, we have set our eyes on global growth. We are making credit more inclusive, and we are just getting started.”

“The Enterprise—Industry Leaders exemplify the strength and resilience of Canada’s business landscape, showcasing their ability to navigate challenges and drive sustainable growth,” highlighted Anders McKenzie, the National Technology Fast 50 program leader at Deloitte Canada. “As established leaders in their industries, these companies have demonstrated their capacity to innovate, adapt, and transform in a rapidly evolving digital landscape. By embracing emerging technologies, fostering a culture of continuous improvement, and leveraging their extensive resources, these Enterprise –Industry Leaders have positioned themselves as industry leaders, setting new benchmarks for success. Their achievements not only contribute to their own organizational growth but also inspire and shape the future of Canada’s technology sector.”

About the Deloitte Technology Fast 50 program

The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. It recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50, Enterprise—Industry Leaders, Clean Technology, and Companies-to-Watch. The program also recognizes thriving technology companies in the United States and Canada in partnership with the North American Technology Fast 500 program. Program sponsors for 2024 include RBCx, Osler, EDC, CCI, TMX, Clarity, and Lafond. For more information, visit www.fast50.ca.

About Propel

Propel Holdings (TSX: PRL) is the fintech company building a new world of financial opportunity for consumers, partners, and investors. Propel’s operating brands — Fora Credit, CreditFresh and MoneyKey — and our Lending-as-a-Service product line facilitate access to credit for consumers underserved by traditional financial institutions. Through its AI-powered platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel.  Our revolutionary fintech platform has already helped consumers access over one million loans and lines of credit and over one billion dollars in credit. At Propel, we are here to change the way customers, partners and investors succeed together.

Learn more at www.propelholdings.com

(www.foracredit.cawww.creditfresh.comwww.moneykey.com)

SOURCE Propel Holdings Inc.

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