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COWI maintains expectations of another good annual result

Photo: https://www.gardenbridge.london/

Photo of the Garden Bridge in London: https://www.gardenbridge.london/

In the first half of 2015, COWI achieved a five-per cent growth in net turnover, reaching DKK 2.8 billion. Overall, the half-year result was satisfactory, and the Group is growing in several of its key markets – especially in Denmark within bridges, tunnels and marine structures. On this basis, COWI maintains its expectations for 2015 as a whole.

​In the first half of 2015, international consulting group COWI delivered a turnover of DKK 2,834 million and an operating profit (EBIT) of DKK 89 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) was DKK 122 million, and profit after tax amounted to DKK 73 million.

"Thanks to dedicated efforts by COWI's almost 6,400 employees, we have secured a solid basis for the rest of the year. We expect to continue the positive development of the COWI Group at the same level that we have demonstrated in the past couple of years. Consequently, I expect that our 2015 annual result will be on a par with the 2014 level," says Lars-Peter Søbye, President, CEO of COWI. He adds:

"Overall, COWI's business is on the right track and our pipeline looks promising, although we will be facing challenges on some of our markets in the next six months, especially in Sweden and North America. For this reason, we must continue to optimise our processes in order to navigate the competitive markets in the best possible way. But I am confident that this first half-year has given COWI a solid basis for seizing our future business opportunities."

COWI is a leader in a number of specialist transport fields – such as tunnels, bridges and marine structures as well as light rail and metros – and the COWI Group continues to expect high growth rates in these fields.

COWI's wins in the past six months include a number of major projects in Denmark and abroad. Danish contracts included works on the two power stations Esbjergværket and Avedøreværket, and the upgrade of Aarhus railway station to accommodate the future electrification of the Danish railway network.

In Norway, COWI won two considerable hospital contracts: One for a new central hospital in the Nordmøde and Romsdal region, and one for the new university hospital in Stavanger. In March, COWI also won the contract for one of the largest railway expansion projects ever undertaken in Norway, the so-called Intercity Østfoldbane.

In Sweden, this May, COWI was tasked with designing the Ostlänken high-speed rail line between Stockholm and Gothenborg. And August saw COWI be chosen as consulting partner for Volvo Cars' new factory in the USA. COWI will provide project organisation, planning, system documentation as well as services within several technical disciplines prior to the tendering of the factory, which is scheduled for completion in 2018.

Outside Scandinavia, on behalf of the international joint venture Bouygues & Cimolai, COWI will prepare the detailed design for the prestigious Garden Bridge over the River Thames at the heart of London.

LAST UPDATED: 20.07.2017