Copenhagen-based engineering, design and consultancy company Ramboll ended 2016 with a net profit of DKK 176.9 million (EUR 23.7 million), a 132% jump compared to DKK 76.3 million net profit reported a year earlier.
The Ramboll Group’s operating profit before goodwill amortisation (EBITA) increased by 27% to DKK 602 million – the highest in the company’s history. EBITA margin was 5.7%, an increase of 1.2% point compared to 2015. For the second consecutive year, a cash conversion above 100% was achieved. Ramboll is now net debt-free despite having made the largest acquisition in the company’s history two years ago.
The satisfying result can be attributed in particular to solid performances in the Nordic business units and in the global Energy business unit, where Ramboll Ramboll won several big projects, including the design of one of China’s largest offshore wind farms the 400MW Binhai North Phase 2 consisting of 100 turbines.
“I am pleased with the good operational performance across our businesses in 2016,” said Ramboll’s CEO Jens-Peter Saul .
“Despite the extremely challenging Oil & Gas market, we managed to deliver a significantly higher EBITA and EBITA margin than in 2015 due to strengthened focus on efficiency and project execution.”
The solid results company now put Ramboll in a good position to deliver on the new four-year group strategy – Winning Together, the company said.
“We have good reason to look positively at 2017, which marks the start of our new strategy period. We have a solid basis to continue our journey with a global presence, a strong market position in key markets, financial strength and an organisation of dedicated, passionate and capable employees. We are determined to overcome the continued challenging market situation due to the low oil price, Brexit and the geopolitical instability. Together we will focus on excellent delivery to our clients using the full expertise of our global talent,” Saul said.