Photo: Ulrik Jantzen

COWI's operating profits increase to DKK 89 million 

Staff numbers increased by nearly 400 people in the first six months of the year.
COWI's H1 2008 results show 15 per cent growth in net turnover corresponding to DKK 1,704 million and an operating profit of DKK 89 million corresponding to a 13 per cent increase. COWI has seen progress within all business areas, of which demand for consultancy services within climate and sustainability, COWI's two major focus areas, has increased markedly. COWI's headcount has increased by almost 400 employees in six months.

"H1 2008 performance is satisfactory. Our turnover is increasing and our earnings have also increased significantly compared with H1 2007 where major non-recurring income had an extraordinarily positive impact on the interim accounts," says Klaus H. Ostenfeld, President and CEO of COWI.

He adds:

"We have had high demand for our consultancy services within all our business areas, and we can now also see significant progress within the areas of environment, climate and sustainability. As it is our ambition to be the top climate consultant both in Denmark and internationally, this is a much appreciated development".

Photo: Morten Larsen

CEO Klaus H. Ostenfeld: "We've seen a significant increase in our consultancy services for the environment, climate and sustainable development."



The activity levels on the Danish, Norwegian and international markets for consultancy services are increasing, and order books are at a high level. In H1 2008 alone, COWI's headcount increased by 390 employees to 4,468 in total.

COWI expects increasing turnover and continued positive financial growth for 2008 as a whole.

  • Net turnover up from DKK 1,487 million to DKK 1,704 million (up 15 per cent).
  • Operating profit excluding disposal of shares in H1 2007 up from DKK 79 million to DKK 89 million (up 13 per cent).
  • Operating profit down from DKK 106 million to DKK 89 million (down 16 per cent).
  • Operating margin down from 7.2 per cent to 5.2 per cent.
  • Pre-tax profit down from DKK 119 million to DKK 74 million (down 38 per cent).

By John Jørgensen
jhj@cowi.dk
Published: 01.09.2008