02 March 2010

Ramboll secures revenue of DKK 5.5 billion despite global economic downturn

Ramboll Group delivered a resilient financial performance in 2009 reflecting that the company has successfully adapted to the prevailing market conditions. The group secured its revenue at DKK 5.5 billion and achieved a profit before tax of DKK 213 million despite significant non-recurring costs. The company is net debt free with a committed credit facility exceeding DKK 1 billion for future expansion and holds an order book of DKK 2.4 billion. Thus, Ramboll is well prepared to pursue its strategy for growth.

8,758 employees in 20 countries

By the end of 2009 the total number of employees was 8,758 in 20 countries. The group has managed to maintain the order books at a reasonable level despite a very tough market situation. By the end of 2009 Ramboll held orders worth DKK 2.4 billion, mainly due to several significant infrastructure projects secured during the year.

Anticipated growth in 2010

During 2009 the consultancy group experienced positive growth rates within telecommunication, infrastructure, environment and energy. As expected there was a negative development in the building market.

- We are at the bottom of an economic recession and we expect overall positive growth in 2010. Our strategy is to further strengthen our position in our home markets in the Nordic countries, the UK, India and the Middle East where we already hold a strong position. In these markets we will especially focus on the infrastructure, oil and gas, energy, climate and telecommunication areas, says CEO Flemming Bligaard Pedersen.

Among the ten largest technical consultancies in the world

By the end of 2009 Ramboll was net debt free. Moreover, there is a committed credit facility of more than DKK 1 billion available for further expansion.

- We are aiming for the position as one of the ten largest international engineering companies in the world. This requires us to double in size from what we are today. We believe that this strength is needed if we want to be able to set the agenda in our industry and have an even higher impact on the further development of the global society, concludes CEO Flemming Bligaard Pedersen.

The Annual Report will be published after the Annual General Meeting 16 March.

Key statistics

Key figures and financial ratios	2009	2009	2008
Income statement, DKK million	EUR m
Revenue	739.7	5,510.6	5,639.8
Operating profit before goodwill amort. (EBITA)	43.0	320.4	439.7
Operating profit (EBIT)	31.8	236.6	357.3
Profit before tax	28.5	212.6	357.7
Profit for the year	16.7	124.7	231.7
Balance sheet, DKK million
Total assets	413.1	3,077.3	3,115.3
Shareholders' equity	143.7	1,070.8	918.6
Net interest bearing debts/(cash)	-14.5	-108.1	9.5
Cash flow, DKK million
Cash flow from operating activities	31.2	232.7	348.8
Investment in tangible assets	-6.1	-45.5	-88.3
Free cash flow	25.1	187.2	260.5
Employees
Number of employees, end of year		8,758	8,848
Number of full time employee equivalents		8,141	7,758
Financial ratios in %
Revenue growth		-2.3	19.0
Organic growth		-0.9	10.0
EBITA margin		5.8	7.8
Return on equity (ROE)		12.5	25.1
Cash conversion ratio		107.6	96.5
Equity ratio		34.8	29.5