Green Energy Chases Ramboll’s Oil & Gas Blues Away

Danish engineering, design and management consultancy, Ramboll, improved its financial results in the first half of 2016 largely due to a solid performance in the company’s Nordic business units and in the global energy business unit which helped offset adverse conditions in the oil & gas related markets.

The company’s gross revenue of DKK 5.4 billion (EUR 727 million) was slightly higher than in the first half of 2015. Operating profit before amortisation (EBITA) of DKK 279 million was DKK 91 million higher than the same period last year. EBITA margin of 5.2% was 1.7%-point higher than in the first half of 2015 (3.5%).

Profit before tax was DKK 142 million compared to DKK 82 million in the same period last year. Net profit for the period was DKK 69.3 million, a 107% increase compared to DKK 33.5 million net profit recorded in the first half of 2015.

“Ramboll has delivered a significantly better first half year result in 2016 than in the same period last year. I’m pleased that over the last 12 months, we have managed to deliver the highest operating profit (EBITA) in the company’s history despite challenging market conditions. The continued difficult oil & gas market and the yet unknown consequences of Brexit give rise to uncertainties and challenges in the future that we are determined to overcome. However, with a strong client focus we expect continued growth in the second half of 2016 and a healthy result for the full year,” said Jens-Peter Saul, CEO of the Ramboll Group.

In the first half of 2016, Ramboll secured several projects globally, especially within the green energy sector.

Project wins include the design of one of China’s largest offshore wind farms consisting of 100 turbines with a capacity of 400 megawatts, which amounts to the total energy consumption of 350,000 households.