August 30, 2020

Ramboll delivers a solid result in difficult times

The Ramboll Group achieved a solid half-year result in 2020. Ramboll demonstrated a gross revenue of DKK 7.014 million, on the same level as first half of 2019.

In the first half of 2020, Ramboll achieved a gross revenue of DKK 7 billion, a minor decline compared to the same period in 2019. Organic growth was negative 1.5% compared to 3.9% in the first half of 2019. Operating profit before amortisation (EBITA) was DKK 372 million compared to DKK 309 million in the same period last year. At 5.3%, the EBITA margin was above the same period last year (4.4%) and this corresponds to an improvement of 0.2%-point in the underlying margin. The number of employees resembles the level as in same period last year.
“The first half of 2020 was characterised by the lockdown of societies around the world. By focusing on our clients and quickly adjusting our cost base, we have experienced only a minor decline in revenue and we have been able to sustain our margin and a strong cash flow. This solid performance is due to the strong efforts of our employees who have shown both immense dedication and flexibility when working closely together with colleagues and clients,” says Group CEO Jens-Peter Saul.
“Looking at our markets, we have achieved positive organic growth in the Nordics and in Ramboll’s global Water and Transport markets, while performance in the US and UK are negatively impacted by the COVID-19 outbreak. We are aware that the crisis is far from over, and we are continuously working to secure that Ramboll comes out of the crisis strongest possible,” says Group CEO Jens-Peter Saul.
Key figures and financial ratiosH1 2020H1 2020H1 20192019
Income statement, DKK millionEUR m
Operating profit before depreciation and amort. (EBITDA)64.9485.8411.3976.0
Operating profit before goodwill amort. (EBITA)49.9372.3308.5762.5
Operating profit (EBIT)26.0194.1180.7341.1
Profit before tax23.6176.4161.8307.9
Profit for the period12.593.681.8171.9
Balance sheet
Total assets1,147.88,562.38,128.58,748.8
Total equity341.42,546.82,397.52,541.4
Net interest-bearing cash/ (debt)(2.5)(18.4)(839.8)(196.7)
Cash flow, DKK million
Cash flow from operating activities98.7736.1(34.3)686.7
Investment in tangible assets, net(9.1)(68.1)(117.7)(218.7)
Free cash flow89.5668.0(152.0)468.0
Acquisitions of companies(52.7)(392.9)(21.5)(92.6)
Number of employees, end of period 16,06415,67915,947
Number of full-time employee equivalents 15,02614,72714,843
Financial ratios in %
Revenue growth (0.1)23.625.0
Organic growth (1.5)3.94.2
EBITDA margin
EBITA margin
EBIT margin
Return on invested capital (ROIC) 20.815.118.6
Return on equity (ROE)
Cash conversion ratio 220.8(2.5)111.1
Equity ratio 29.729.529.0