NRC Group today published its financial results for the second quarter and first
half of 2023.
CEO Henning Olsen and CFO Ole Anton Gulsvik will present the results at 09:00 am
(CET) at House of Oslo, Ruseløkkveien 34, Oslo.
The presentation will also be webcast live on the following link:
https://channel.royalcast.com/webcast/hegnarmedia/20230829_2
The presentation will be followed by a live Q&A-session. Investors, analysts and
journalists are welcome to participate at House of Oslo or follow the
presentation digitally, where questions can be submitted during the event.
Group highlights second quarter:
· Revenue of NOK 1,797 million (NOK 1,912 million), -6% growth and -13%
organic growth
· Operating profit (EBIT adj.) of NOK 65 million (NOK 60 million),
corresponding to a margin of 3.6% (3.1%)
· Order backlog reduced from NOK 8,200 million to NOK 7,982 million explained
by a book-to-bill ratio of 0.9x in the quarter
· Financial improvement continues in Norway and actions to improve
profitability in Sweden are starting to yield results
· Strong operating cash flow of NOK 107 million (NOK -90 million) due to good
working capital management and improved results. Net interest-bearing debt
decreased by NOK 37 million to NOK 968 million.
· Tender pipeline within Rail construction remains strong across all segments
· Anders Gustafsson appointed as new CEO of NRC Group, and will start on
October 1st.
Group highlights half year:
· Revenue of NOK 3,088 million (NOK 3,088 million)
· Operating profit (EBIT adj.) of NOK 17 million (NOK 19 million),
corresponding to a margin of 0.5% (0.6%)
· Operating cash flow of NOK 58 million (NOK -21 million) and net interest
-bearing debt at NOK 968 million (NOK 1,009 million at year-end 2022)
· Successful completion of the sale of the Gravco business unit in first
quarter, recognising a net gain of NOK 40 million and NOK 114 million in net
proceeds
· Civil construction division in Sweden decided to be discontinued. One-off
cost of NOK 35 million related to the close-down recognised in first quarter.
The result report and result presentation can be found attached and will be
available on the company's homepage: www.nrcgroup.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Charlotte Krog, Communication,
NRC Group ASA, on 29 August 2023.