Interim report 2011
- Our market position has been strengthened through new contract wins and acquisitions. However, the result in H1 2011 was disappointing despite a high activity level.
- Gross revenue of DKK 3,504 million was 16% higher than H1 2010, primarily as a result of organic growth of 9%.
- Operating profit before amortisation (EBITA) of DKK 141 million was significantly lower than H1 2010 (DKK 200 million) due to fierce price competition and write-downs on projects.
- EBITA margin was 4.0% compared to 6.6% in H1 2010.
- Profit before tax was DKK 83 million compared to DKK 145 million in H1 2010.
- Cash conversion was negative due to an unsatisfactory negative development in working capital.
- Total equity was DKK 1.3 billion, leading to an equity ratio of 35%.
- Order book of DKK 3.1 billion was 11% higher than at year-end 2010.
- New operations were acquired in the UK, Denmark, Norway and Finland, adding a total of 675 new employees to our workforce, while we have entered into an agreement to divest Ramboll Informatik A/S with close to 250 employees.
- Major new wins in H1 2011 include a role as lead partner in the Joint Venture that is to design the bridge, roads and land work structures for the Forth Replacement Crossing in Scotland; the design of Greenland’s new iconic National Gallery in collaboration with BIG architects, the design of a 6.4 km long stretch of the E18 highway in Southern Norway, including the design of a new bridge; and the design of a low carbon energy infrastructure for the Greenwich Peninsula development in London.
- In several of Ramboll’s home markets, we have seen record-high rankings of Ramboll’s image this year.
Flemming Bligaard Pedersen
Chairman of the Ramboll Foundation
Group Chief Financial Officer
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