Multiconsult (MULTI) CMD 2024 summary

Strategic ambitions and market positioning

• Updated strategy focuses on complex and large projects, energy transition, urban transformation, biodiversity, and climate, with expansion in the Nordics and Poland.

• Growth to be achieved through organic initiatives and M&A, leveraging multidisciplinary expertise and a proven M&A track record.

• Seeks leadership in healthcare, renewable energy, and urban development, integrating engineering and architecture for sustainable urbanization.

• Strategy updated in response to geopolitical, economic, and technological shifts since 2021, addressing EU investment needs in clean energy and grid infrastructure.

• Maintains a robust platform for growth, supported by continuous capability integration.

Financial guidance and sustainability targets

• Profitability target set at 10% EBITDA/EBITA margin annually, excluding extraordinary items.

• Revenue growth ambition of 8%-10% CAGR from 2025 to 2030, including M&A.

• Dividend payout ambition of at least 50% of net profit annually, balancing growth and shareholder returns.

• Gearing target between 1 and 2 (max 2.5, or 3 in special M&A cases), with equity ratio around or above 25%.

• Committed to net zero by 2040, with Science Based Targets validation expected by January 2025; targets 50% reduction in Scope 1 & 2 and 30% in Scope 3 emissions by 2030 (2019 baseline).

Business development, innovation, and M&A

• Expands service offerings across the value chain, including conceptual design, construction, and maintenance, supported by recent acquisitions.

• Emphasis on technology, digitalization, and AI to drive efficiency, quality assurance, and sustainable development.

• Structured, criteria-based approach to M&A, with a rolling shortlist of opportunities and focus on local generalists and specialist advisors.

• Market diversification seen as a buffer against regional economic fluctuations and a source of new growth avenues.

• Responds to dynamic market drivers such as geopolitical shifts, climate change, and technological disruption.