A rendering of Mecca’s King Abdul Aziz Road in 2025, after the installation of a 500MW cooling system (Ramboll)

Companies

Ramboll grows 25% in 2015 despite “challenging” conditions

14 March 2016 | By GCR Staff | 0 Comments

Danish engineering group Ramboll has announced a 25% growth in turnover for 2015 despite “challenging” market conditions.

Revenue grew to DKK10.6bn ($1.6bn) from DKK8.3bn ($1.2bn) in 2014, however pre-tax profit fell 16% to DKK223 ($33m).

The company’s results were boosted by its takeover of Environ in December 2014, which Ramboll says led to the formation of two international business units in environment, health and water, and has generated more than 100 new projects.

Environ, a US-based environmental engineer, had a turnover of $293m in 2013.

Where Ramboll won its work in 2015

However, results were depressed by the continued weakness of the oil and gas sector and write-downs on a few large buildings projects.

Jens-Peter Saul, Ramboll's chief executive, said: “2015 has been a challenging year with a disappointing profit margin, mainly due to the impact of the dramatic drop in oil prices on our oil and gas business and related markets and project write-downs.

“Consequently, the performance has been mixed across our markets with solid performance in most of our Nordic business units, but less satisfactory results in some of our business units outside the Nordic region.”

Among the firm’s project highlights over the past year was an innovation campus for biotech firm Novozymes to the north of Copenhagen, and the design of a road tunnel in the new North Harbour district of Copenhagen.

It also secured a contract from the government of Saudi Arabia for a district cooling project in Mecca, one of several initiatives to improve the conditions for pilgrims during Hajj.

In Montreal, the company has been appointed independent engineer on the Champlain Bridge Corridor Project, one of the largest infrastructure projects in North America.

Top image: A rendering of Mecca’s King Abdul Aziz Road in 2025, after the installation of a 500MW cooling system (Ramboll)