Ramboll H1 2015 revenue 30% up at $806.6m
The Danish consultancy said "write-downs on a Ramboll UK-led large project in the Middle East" led to reduced operating profits for the firm in the duration
Ramboll achieved gross revenue of $806.6m (DKK5.4bn) in the first half of 2015, which is 30% higher than the same period in 2014.
Operating profit before amortisation (EBITA) was $28m (DKK188m), compared to $25.3m (DKK170m) in the first half of 2014.
At 3.5%, EBITA margin was below the same period last year (4.1%) due to tough conditions in the oil & gas market and major write-downs on a Ramboll UK-led large project in the Middle East, negatively impacting the EBITA margin by a total of 1.0%-point.
Ramboll did not specify which Middle East project led to its lowered operating profit.
The number of employees grew by 19% in the first half of 2015, mainly due the acquisition of the US based consultancy Environ.
Ramboll now has 12,841 employees globally.
“Ramboll delivered growth in line with our expectations despite a challenging oil & gas market," Jens-Peter Saul, CEO of Ramboll Group, said.
"We have achieved solid results in Finland, Sweden and Denmark, while the result in the UK has been adversely affected by write-downs on a large project in the Middle East."