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Growth in 2015 and positive outlook for the future

Photo: COWI

​2015 was another year of growth for COWI. A solid order book, a healthy business foundation and the launch of a new strategy lead to COWI expecting growth in both turnover and earnings in the future years.

​In 2015, COWI delivered a turnover of DKK 5,577 million, which represents an increase of five percent compared to 2014. COWI's operating profit (EBIT) amounted to DKK 182 million.

"For the 11th year running, we achieved a solid growth in turnover, whereas our operating profit did not meet the same level as in 2014. It's our clear expectation that we will see a high growth in turnover in the years to come as well as a significant increase in profit," says President, CEO, Lars-Peter Søbye, who bases his expectations on a well consolidated business, a solid order book and not least COWI's new growth strategy.

Growth driven by world-class competencies

The core notion of COWI's new strategy is that growth must be generated by the company's core competencies in infrastructure, in particular, but also in energy, buildings, water and environment.

"In a fiercely competitive global market where projects constantly grow in size and complexity, only the financially capable companies with the strongest competencies will make it. Consequently, we're fully committed to further developing the core competencies that we've built in our Scandinavian home market – while using these as leverage to expand our business internationally." 

"Our greatest successes in the past couple of years have been within the areas where we're at the very forefront. Infrastructure in particular, where we in 2015 landed the majority of the design work for the East Link project, which involves expanding the railway line between Stockholm and Gothenburg to accommodate high-speed trains, as well as the design of a brand new city district in Mecca, Saudi Arabia. Both projects have a budget of hundreds of millions of Danish kroner, and will keep several hundreds of our employees busy for years to come," says Søbye, and continues: 

"Our unrelenting focus on retaining and developing world-class competencies also meant that we again in 2015 ranked among the top consultants in our global services – bridges, marine structures and waste management – on the Engineering News Record's prestigious lists of the world's leading consulting companies."

Double in size in bridges, tunnels and marine structures

Given the massive investments in infrastructure across much of the world, infrastructure will be the primary engine of growth for COWI in the coming years. COWI's ambition is to have the Bridges, Tunnels and Marine business unit double its volume of services over the next five years. Søbye explains:

"We must continue to grow in North America and Great Britain where we have been present for years and have built a strong position. The world-class competencies that we've developed in these markets are also the stepping stone for achieving a greater market share in our Scandinavian home market. In addition, we must enter new priority markets," says Søbye, while stressing:

"New markets are not a matter of geographical presence. In this day and age, being a global company with international ambitions is not about how many offices we have around the world. It's rather about mobilising strong, competent teams wherever projects are and whenever they are needed. As a result, our strategy centres on maintaining a strong presence in our traditional Scandinavian home markets and on being a world leader in our select specialist services."

New major projects in 2015

In addition to the East Link and the Mecca projects, COWI won several other major projects in 2015:

In Denmark, COWI was awarded the task of studying potential alignments for the future high-speed railway line between Hovedgaard and Hasselager, and the modification of Aarhus railway station to prepare for the electrification of the Danish railway network. Furthermore, COWI was chosen as consultant to develop district-heating and waste-management provider AffaldVarme Aarhus's new, groundbreaking district heating system, which harvests energy in seawater and by means of large, electric heating pumps supplies green heat to households. COWI also assisted Greater Copenhagen Utility (HOFOR) with site management and specialist consultancy on climate proofing regarding the construction of two cloudburst-mitigation tunnels in Copenhagen.

In Norway, COWI won two considerable hospital contracts for, respectively, a new hospital in the region of Nordmøre and Romsdal as well as a new university hospital in Stavanger. COWI also landed the phase-two contract for one of the largest railway expansion projects in Norway, the so-called Intercity Østfold line.

In Sweden, COWI was chosen as consulting partner to Volvo Cars, which will build a new factory in the USA. Moreover, COWI is to design the extension of the paper-pulp factory Södra Cell Värö in Varberg, as part of the factory's plan to increase its production of green energy.

Outside Scandinavia, COWI won the contract for detailed design of a 600-kilometre railway from Tabora to Kigoma in Tanzania, and COWI North America landed the Saskatoon North Commuter Parkway and Traffic Bridge project in Canada, which involves replacing a 107-year-old traffic bridge and designing a new bridge and approach roads.

LAST UPDATED: 19.01.2017