March 13, 2022
Ramboll delivers record revenue and profit
The global architecture, engineering and consultancy company Ramboll delivered a record result in 2021 with the highest revenue and operating profit ever. With the record result Ramboll is in a strong position to deliver on its new four-year Group strategy ‘The Partner for Sustainable Change’.
- Raising timber to new heights – In Denmark, Ramboll and Henning Larsen are joining forces on a huge timber building project for AP Pension. At eight stories and 36 meters tall, and covering 28,000 square metres, the Marble Pier will be one of the largest timber buildings ever erected in Denmark and home to some of the most sustainable offices possible with existing technology. The building saves 9,500 tonnes carbon emissions, as compared with a similar building made of concrete. The Marble Pier is expected to receive the highest possible sustainability accreditations for buildings, namely, LEED, DGNB Platinum and Diamond, as well as the well-being certification WELL Platinum. The building is expected to be completed by 2024.
- World's first floating plant for solar power in rough waters – In Norway, the international energy company Equinor will pilot test the world’s first floating solar power plant in rough offshore waters in the Norwegian Sea. Ramboll will contribute to the revolutionary pilot project with interdisciplinary engineering expertise. The facility will be tested for at least one year in one of the most weather-challenged areas along the Norwegian coast. The purpose of the pilot test is to measure how the weather conditions affect the plant.
- Groundwater sustainability in California – In the US, the California Department of Water Resources has selected a team of consultants led by Ramboll to conduct airborne electromagnetic surveys in California’s high- and medium-priority groundwater basins. The surveys will provide a standardised state-wide dataset which will improve understanding of large-scale aquifer structures and support implementation of the Sustainable Groundwater Management Act.
- Halving carbon emissions and increasing road safety - In Sweden, Ramboll won a significant project for the Swedish Transport Administration which will rebuild road E10 between Kiruna and Kauppinen, a stretch of well over 7 km. The Swedish Transport Administration has identified the project as a pilot project to work with carbon reduction and aims to reduce carbon emissions by 50% during road plan implementation, tendering and production. Set for completion in 2030, the project also tackles other environmental challenges such as protecting existing habitats and migratory patterns of local wildlife.
- Sustainable transportation for Germany – In Germany, Ramboll was selected by Deutsche Bahn to plan the extension of one of the most important transport hubs in Cologne, North Rhine-Westphalia. The project is the backbone for the expansion of the S-Bahn network in the metropolitan region and paramount to connecting the Ruhr region to the national and international rail network.
- New children’s hospital in Cambridge – In the UK, Cambridge Children’s Hospital, due to open in 2025, will be a world-first hospital that cares for children’s physical and mental health together, alongside leading-edge academic research. In addition, the hospital aims to be an exemplar in carbon reduction as part of its role in providing a safer and more sustainable future for all. The ultimate aim is to be carbon neutral. Ramboll will provide all engineering services for the hospital.
- Public transport system in the capital region of Finland – In Finland, Ramboll has been selected to participate in the design and the construction management of the City Rail Link in Espoo, one of the first phases of the new high-speed rail link between Helsinki and Turku. The Espoo City Rail Link will provide the 1.5 million residents in the greater Helsinki area with fast, frequent, and more sustainable transport options. The high-speed rail project includes new bridges, four stations, and an inviting park-and-ride facility adjacent to an existing station.
- Laying the groundwork for the world’s first energy islands - The Danish Government has committed to establishing two energy islands in the North Sea and Baltic Sea in 2030. Together, they are expected to supply 5 GW of electricity, enough to power five million homes in Denmark and neighbouring countries. That capacity may increase to 13 GW. The artificial island in the North Sea is currently in the tender phase, and Ramboll is supporting the VindØ consortium by developing a full masterplan, including exploring the potential for large-scale Power-to-X facilities on the island. Those facilities would convert power from nearby offshore windfarms into green hydrogen and carbon-free fuels for use in hard-to-decarbonise sectors like shipping. In the Baltic Sea, a 2-3 GW energy island will be located on the Danish island of Bornholm. Ramboll was selected by Energinet to undertake an extensive environmental impact assessment on nearby Natura 2000-protected areas and local wildlife. In a related project, Ramboll is coordinating the Bornholm Bunker Hub consortium to explore how green fuels could be supplied from the port of Rønne on Bornholm to ships in the Baltic Sea. These are merely three of the more than 60 Power-to-X projects with a Ramboll footprint.
Key figures and financial ratios | H1 2022 | H1 2022 | H1 2021 |
Income statement | EURm | DKKm | DKKm |
Gross revenue | 1,055.4 | 7,851.9 | 7,110.6 |
Net project revenue (NPR) | 881.6 | 6,558.8 | 5,964.0 |
Operating profit before depreciation and amort. (EBITDA) | 63.5 | 472.5 | 442.7 |
Operating profit before amortisation of goodwill, brand and customer contracts (EBITA) | 50.2 | 373.8 | 338.9 |
Operating profit before interests and tax (EBIT) | 40.6 | 302.0 | 186.6 |
Profit before tax | 41.1 | 305.5 | 164.4 |
Profit for the period | 26.2 | 194.7 | 85.2 |
Balance sheet | |||
Total assets | 1,278.1 | 9,508.7 | 8,389.4 |
Total equity | 420.7 | 3,129.7 | 2,582.1 |
Net interest-bearing cash/ (debt) | 38.7 | 287.8 | 392.8 |
Cashflow | |||
Cashflow from operating activities | (23.1) | (172.2) | (153.6) |
Investment in tangible assets, net | (15.7) | (116.8) | (67.8) |
Free cashflow | (38.9) | (289.0) | (221.4) |
Acquisitions of companies | (21.7) | (161.7) | (72.1) |
Employees | No. | ||
Number of employees, end of period | 17,050 | 16,312 | |
Number of full-time employee equivalents | 15,827 | 15,214 | |
Financial ratios | % | ||
Revenue growth | 10.4 | 1.4 | |
Organic growth | 8.3 | 1.8 | |
Organic growth, Net project revenue (NPR) | 8.2 | 3.5 | |
EBITDA margin | 6.0 | 6.2 | |
EBITA margin | 4.8 | 4.8 | |
EBIT margin | 3.8 | 2.6 | |
Return on invested capital (ROIC) | 16.7 | 12.1 | |
Return on equity (ROE) | 14.0 | 5.6 | |
Cash conversion ratio | (30.2) | (29.9) | |
Equity ratio | 32.9 | 30.8 | |
Key figures, sustainability | |||
Total CO2 emissions (Scope 1, 2 & 3)*, tCO2e | N/A | 7.194 | |
Gender diversity, women/men, % | 36.4% | 35.5% | |
Total reportable incident rate (TRIR) | 1.34 | 1.37 |