Ramboll: Strong market positions and positive growth, but profitability remains below potential 

Ramboll delivered positive organic growth and continued to strengthen its order book in the first half of 2026. At the same time, profitability remained unsatisfactory:

• Revenue increased by 3.8 pct. DKK 9,028m (DKK 8,693m in H1 2025).
• Organic growth increased to 4.2 pct. (-2.4 pct. in H1 2025).
• EBITA margin declined to 2.8 pct. (3.4 pct. in H1 2025).
• Profit after tax for H1 2026 improved to DKK -18,9m (DKK -32,8m in H1 2025).
• The order book increased to DKK 9.0bn (DKK 8.7bn by end of H1 2025)

“Demand for our services remains healthy, our order book is growing, and our market positions are strong. At the same time, our profitability is unsatisfactory and does not reflect the quality of our business. My assessment is that Ramboll has significant untapped potential. Understanding how we unlock that potential is a key priority for management,” says Group CEO Christian Jensby, Ramboll.

Ramboll continues to benefit from strong positions in markets supported by long-term structural trends, including transport, energy and digital infrastructure, the transformation of buildings and cities, and solutions addressing water scarcity, climate adaptation and wastewater management.

During the first half of 2026, Ramboll secured projects spanning large-scale transport infrastructure, more sustainable data centres, power grid modernisation, urban climate adaptation and low-carbon energy solutions.

Management believes the market fundamentals remain attractive and that Ramboll is well positioned to support clients through its global expertise.

As part of its ongoing review of the business, management is assessing how Ramboll can further improve its operational effectiveness, simplify ways of working, and strengthen commercial execution, to improve profitability and support long-term profitable growth.

“Across Ramboll, we have exceptional people, strong client relationships and leading technical capabilities. We are now taking a careful look at how we operate and where complexity may be limiting our ability to perform at our best. Our ambition is clear. We will create a simpler, more effective organisation that better supports both clients and employees,” says Group CEO Christian Jensby, Ramboll.

The first-half results have further highlighted the gap between Ramboll's strong underlying position and its current financial performance. As management continues its assessment of how to unlock the company's full potential, Ramboll has updated its outlook for 2026.

Ramboll now expects full-year organic growth of 2-4 percent (previously 0-3 pct.), and EBITA margin of 4-5 pct. (previously 5.0-6.5 pct.), excluding potential special items.

“The long-term fundamentals of our markets remain attractive, particularly within transport, energy and digital infrastructure, the transformation of buildings and cities, and water-related solutions. These are areas where Ramboll has deep expertise and where we are well positioned to help clients create sustainable and resilient solutions. It is in our DNA to solve,” says Group CEO Christian Jensby, Ramboll.

In the first half of 2026 Ramboll won projects that spanned from large-scale transport infrastructure to more sustainable data centres, power grid modernisation, urban climate adaptation, and low-carbon energy solutions.

Key project wins in H1 2026

Driving urban development in Sweden: Ramboll has been appointed technical consultant on Norra Hagastaden, a major long-term urban development transforming a former hospital area into a vibrant, sustainable district connecting Stockholm and Solna, while preserving heritage, supporting essential healthcare operations, and integrating complex infrastructure.

Modernising wastewater compliance in the US: In the US Ramboll was selected by Pratt and Whitney, an aerospace company that designs, manufactures, and services aircraft engines and auxiliary power systems for aircraft, to develop an ‘Integrated Compliance Intelligence Action Plan’ that modernises how wastewater compliance data is managed, reported, and used for decision-making.

Advancing transmission projects in Germany: Ramboll secured two five-year framework agreements with TransnetBW. In cooperation with TransGrid Solutions, Ramboll will deliver system technology and advisory services for DC/AC transmission projects. This win supports Germany’s long-term energy strategy and consolidates Ramboll’s position as a trusted advisor in the German transmission market.

Supporting High-Speed Rail build-up in Canada: Ramboll has been selected by Transport Canada to provide technical advice and insight on ALTO High-Speed Rail (HSR) during the co-development phase. ALTO will be a 1,000 km rail network that will connect millions of people living along the Toronto–Québec City corridor. As Canada’s first HSR and largest-ever infrastructure project, this landmark investment will dramatically reduce travel time and enhance connectivity between key urban centres.

Power studies in Norway: Key client Statnett awarded Ramboll Environment & Health in Norway the framework agreement for power system studies, analyses and laboratory services. The scope of the work includes helping Statnett with nature mapping, identifying value chain impacts on nature, greenhouse gas calculation, life cycle assessments (LCA), and verification of Environmental Product Declaration (EPD). This win further strengthens our position as a key partner in delivering sustainable energy grid infrastructure.