Multiconsult Asa Unsp/Adr

and welcome to this presentation of the results for the fourth quarter and full year of 2022 for Multikonsult. My name is Grete Bergli and with me today I also have our CFO, Ove Hautberg. Before we look at the results, just a brief reminder of who we are. We are a Norwegian consulting and architectural company with a history spanning back over 100 years. We are primarily based in Norway, but we have offices in Sweden, Denmark, Poland and the UK. We operate in four business areas, building and property, mobility and infrastructure, energy and industry and water and environment. We have four segments. Regions Oslo, which is where the headquarter is in the capital of Norway and two associated offices at Lillehammer. and Lillestrøm. Region Norway, which are the rest of the offices from north to south in Norway. Good morning and welcome to this presentation of the results for the fourth quarter and full year of 2022 for Multikonsult. My name is Grete Bergli and with me today I also have our CFO, Ove Hautberg. Before we look at the results, just a brief reminder of who we are. We are a Norwegian consulting and architectural company with a history spanning back over 100 years. We are primarily based in Norway, but we have offices in Sweden, Denmark, Poland, and the UK. We operate in four business areas, building and property, mobility and infrastructure, energy and industry, and water and environment. We have four segments, regions Oslo, which is where the headquarter is in the capital of Norway, and two associated offices at Lillehammer, and Lillestrøm. Region Norway, which are the rest of the offices from north to south in Norway. Segment architecture with our four architect subsidiaries. And then international, that contains our Swedish engineering subsidiary, Interio, and Multikonsult Polska. We execute 15,000 projects on an annual basis for more than 5,500 clients. We have a project footprint in 45 countries and we are just short of 3,900 employees. In recent years, we have delivered profitable growth based on a robust business model with a diversified portfolio and a strong professional environment that assist our clients with their challenges across all business areas and geographies. Looking at the figures, we see that we have delivered a stable operational performance this quarter. The performance was influenced by high activity with a billing ratio of 72.5%, an increase compared to 2023. Net operating revenue grew by 6% to 1.4 billion and the organic growth was 4.8%. The results for the fourth quarter was positively impacted by a higher billing ratio and a higher average billing rates, offset by increased employee benefit expenses and other operating expenses. As we have continuously improved our project execution and risk management throughout the years, the estimates for 2024 were consistent with expectations, but this gave a large effect in the fourth quarter, and Ove will give you some more insight into this when he goes through his part of the presentation. It is pertinent to draw the attention to the fact that year over year we have improved our results and we continue our positive development maintaining profitable growth of 10 percent. In this period we've had the effect of a put option that has affected the financial income and the board of directors proposes a dividend of 10 kroners per share. Looking at market and sales, we've had a very strong sale in this fourth quarter, the highest ever actually for a fourth quarter with 1.8 billion and an order backlog then of 4.9 billion. We have landed a number of sales and frame agreements in this quarter. And just a reminder that we do not include frame agreements in our order backlog until a call off has been made. This means we maintain our solid backlog leaving 2024. and there has also been some major sales at the beginning of 2025. We have continued increased demands related to the defence industry. Looking at the organization, we had a growth of 4.6% year over year. And as you can see, there is a larger gap between FTEs and number of employees. This has a background partly in higher CICLIB, in parental leave and also some layoffs. Sick leave is a challenge in all the Nordic countries and we have started initiatives to see how we can increase the number of people who actually come to work on a daily basis. We continued the practice of handing out 40 shares to all new employees and this quarter we handed out 6,320 shares. We also executed our share program for all employees with a high degree of participation.

and 85% of employees in Multiconsult are now holding shares in the company. And last, it's very gratifying to see

that Aarhus University It was awesome.