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

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STOCKHOLM, Nov. 6, 2024 /PRNewswire/ — Executing on our efficiency agenda 

July – September 2024

Net sales decreased by 2 percent to SEK 7,150m (7,265).Gross profit decreased by 1 percent to SEK 2,406m (2,433).EBITDA decreased by 6 percent to SEK 799m (848).Adjusted EBITDA decreased by 2 percent to SEK 923m (943).An impairment of goodwill of SEK 6,000m had negative impact on quarterly results and Sinch is reporting a loss after tax of SEK -6,095m (46).Basic earnings per share were SEK -7.22 (0.05) and diluted earnings per share were SEK -7.22 (0.05).Cash flow from operating activities amounted to SEK 437m (862).

January – September 2024

Net sales decreased by 1 percent to SEK 20,983m (21,213).Gross profit grew by 1 percent to SEK 7,103m (7,015).EBITDA rose by 5 percent to SEK 2,359m (2,256).Adjusted EBITDA decreased by 2 percent to SEK 2,584m (2,642).The loss after tax for the period was SEK -6,089m (-102).Basic earnings per share were SEK -7.22 (-0.12) and diluted earnings per share were SEK -7.22 (-0.12).Cash flow from operating activities amounted to SEK 2,039m (1,061).

Significant events during the quarter

Sinch updated it’s leverage policy to: Net debt over time shall be below 2.5 times Adjusted EBITDA (measured on a rolling twelve-months basis).Sinch issued a bond of SEK 500m and initiated a call for early redemption of the outstanding bond 2019/2024.Impairment testing of goodwill resulted in a total impairment of SEK 6,000m. The charge is attributable to the product category Applications and primarily relates to MessageMedia. 

Significant events earlier this year

The new operating model, organization and management team became operational on 1 January 2024.Sinch was recognized as a 2024 Gartner Magic Quadrant Leader for CPaaS.

Significant events after the end of the quarter

CFO Roshan Saldanha will be leaving Sinch for a similar position in another industry. He will continue in his current role until a successor has taken over or until March 2025 at the latest. The process of finding a replacement has begun.Sinch informed about goodwill impairment and preliminary results for the third quarter.

Invitation to webcast and phone conference
Sinch will present the interim report in a webcast and phone conference on Wednesday, 6 November 2024 at 14:00 CET. Watch the presentation at investors.sinch.com/webcast.

To participate via phone conference, register using the following link: https://conference.financialhearings.com/teleconference/?id=50048793.
After you register, you will be given a phone number and conference ID to log into the conference.

For additional information, please contact:
Ola Elmeland, Investor Relations
+46 72 143 34 59
investors@sinch.com 

Thomas Heath, Chief Strategy Officer and Head of Investor Relations
+46 72 245 50 55
investors@sinch.com 

Roshan Saldanha, Chief Financial Officer
+46 73 660 24 19
investors@sinch.com 

About Sinch

Sinch is pioneering the way the world communicates. More than 150,000 businesses – including many of the world’s largest tech companies – rely on Sinch’s Customer Communications Cloud to improve customer experience through mobile messaging, voice and email. Sinch has been profitable and fast-growing since it was founded in 2008. It is headquartered in Stockholm, Sweden, with shares traded at NASDAQ Stockholm: XSTO:SINCH. Learn more at sinch.com.

Note: Sinch AB (publ), is required to publish the information in this interim report pursuant to the EU Market Abuse Regulation. The information was released for publication by the contact person above on 6 November 2024 at 07:30 CET.

This report is published in Swedish and English. In case of any differences between the English version and the Swedish original text, the Swedish version shall apply.

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SOURCE Sinch AB

TAIPEI, Nov. 6, 2024 /PRNewswire/ — The 2024 Taiwan Creative Content Fest (TCCF), a major event for Asia’s content industry, kicked off on Nov. 5 with record breaking numbers in international participation, cash prizes and awards, and project submissions.

TCCF aims to connect global industry professionals with key resources while helping Taiwanese companies reach international markets. This year’s TCCF experienced record participation, with 600 project proposals from 50 countries, 101 exhibition booths, and over 300 international professionals, media, and buyers from 30 countries joining for negotiations. Additionally, 30 prominent international speakers will lead 15 engaging discussions throughout the event.

The opening ceremony featured Deputy Minister of Culture Sue WANG, Taiwan Creative Content Agency Chairperson Homme TSAI, CEO Jiunwei LU, Legislator Chiaohui SU, Through an official activation ceremony featuring floating cubes, representatives from various participating countries including Franck PARIS, Director of the French Office in Taipei; Fernando SCHMIDT, General Directorate of Export Promotion at the Chilean Trade Office Taiwan; Naimatul Farah Haji ISA, Deputy Director of Tourism at the Malaysian Friendship and Trade Centre, Taipei; Philippe TZOU, Trade & Investment Commissioner for the Regions of Wallonia and Brussels-Capital at the Belgian Office Taipei; Chiaki MURAMOTO, Secretary General of the Cultural Affairs and Public Relations Department from the Japan-Taiwan Exchange Association, Taipei Office; and Anthony RIVERA, Director for Commercial Affairs Section at the Manila Economic and Cultural Office, were present on stage to symbolically infuse the cubes with creative energy and resources, culminating in a spectacular digital display.

Also present were representatives from New Zealand, Chile, France, Thailand, Indonesia, and other countries, along with key industry partners from TV networks, tech firms, and film associations.

Chairperson Homme TSAI noted that the new venue at Nangang Exhibition Center marked a new chapter in TCCF history, indicating a shift to industry focused and commercial viability, as opposed to previous years which were held at Songshan Creative and Cultural Park. He added, “We hope that the investments of TAICCA, informed by the private sector and industry participation, will be more impactful to meet the needs of Taiwanese creative content.”

Deputy Minister Sue WANG stated, “Taiwan needs more commercially viable content that attracts international audiences, we need talented storytellers to create these stories to build our international recognition.”

Homme TSAI also expressed that the event will showcase the quality and diversity of Taiwanese cultural content, facilitating more international partnerships and business opportunities through pitches, negotiations, and forums.

This year, TCCF is being held for the first time at Nangang Exhibition Center Hall 2, organized into three major sections. The PITCHING competition offers substantial prizes and resources, with 62 proposals from 21 countries competing for a record NT$7.65 million (approximately $250,000 USD) in total awards, 35 prizes, and invitations to international exhibitions. The winners will be announced at the closing event on November 8.

The MARKET exhibition features a record 93 organizations and companies from around the world, showcasing IPs across film, TV, gaming, animation, and publishing. Notable participants include KOCCA and Gyeonggi Content Agency from Korea, Tokyo and Fuji TV, Lotte Group from Japan, as well as Vietnam National Television and Singapore Film Society.

This year’s FORUM centers on the theme “Together for Impact,” with 15 forums led by 30 industry experts from 13 countries, covering topics like variety shows, film, animation, children’s content, and IP.

2024 TCCF Dates: November 5-8, 2024

Location: 7th Floor, Nangang Exhibition Center Hall 2

2024 TCCF Official Website: https://www.tccf.tw/zh 

TAICCA Official Website: https://taicca.tw 

About TAICCA (https://en.taicca.tw/)

The Taiwan Creative Content Agency (TAICCA), established in June 2019 and supported by the Ministry of Culture, is a professional intermediary organization working to promote the development of Taiwan’s content industries including film and TV, publishing, pop music, ACG, and more.

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SOURCE Taiwan Creative Content Agency