COWI delivers strong growth and improves profitability

Following a stable top line in 2025, COWI returned to strong organic growth in the first half of 2026 while continuing to improve profitability. Revenue reached DKK 4.5 billion, driven by 7% organic growth compared with the same period last year, as COWI continued to deliver major projects across its priority market sectors: infrastructure, buildings and industry, and renewable energy.

The operating result amounted to DKK 365 million, a 9% year-on-year increase corresponding to an EBITA* margin of 8.1%, continuing consistent improvement and reflecting operational discipline, strong project execution and resilient demand across the business. 

"Our return to growth demonstrates strong project execution and the agility of our business. We have improved our ability to respond to shifts in demand while continuously optimising the utilisation of our resources. In a challenging market environment, being able to act on early indicators is increasingly important. This is a result that everyone across COWI can be proud of," says Group CEO Jens Højgaard Christoffersen.
In the first half of the year, the order backlog increased to a record high of DKK 8.2 billion, providing a strong foundation for continued growth and profitability in the second half of the year.

"Our results reflect continued improvements in operational performance and commercial discipline. With a stronger, more profitable business and an increasing order backlog, we are well-positioned to invest in growth and capture new opportunities across our markets. This demonstrates that our transformation is delivering tangible results," says Group CFO Natalie Shaverdian Riise-Knudsen.

“Our people are at the heart of our success. We are pleased to see strong employee retention while we continue to attract some of the best talent in our industry. This is a vital prerequisite for our continued ability to support our customers realising their aspirations," says Group CEO Jens Højgaard Christoffersen.

Upgrading our full-year financial guidance
Based on our performance in the first half of the year, we are upgrading our full-year organic growth guidance from 1%–7% to 4%–8%, and maintaining our EBITA* margin guidance at 8.0%–9.0%.

EBITA* corresponds to profit before financial items, profit/loss after tax in associates, tax, amortisation of goodwill and acquisition-related intangible assets and special items.