carsten toft boesen in front of SDGs
“We are overall satisfied with the result of 2019,” says CEO Carsten Toft Boesen.
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NIRAS delivers satisfactory 2019-result, but Corona is causing uncertainty about the future

2019 was a good year for NIRAS with international growth and a 20 percent progression in the result.

23. Mar 2020

For the second consecutive year, NIRAS achieved 20 percent progression in the result and continued its international growth. The 2019 accounts are presented during a time in which the entire corporate environment is under enormous pressure as a result of the COVID-19 pandemic. Consequently, NIRAS’ CEO is wary of getting too excited about the impressive results. He appreciates, however that the company is in a state of high liquidity:

“We are in the middle of a serious situation, which affect us all. In a business like NIRAS where we are already using a number of digital platforms and channels as part of our daily work, we have spent the last days ensuring the optimum conditions to maintain production and deliveries for our clients. There is, however, no doubt that our results for the current year will be affected by the prevailing situation,” says Chief Executive Officer, Carsten Toft Boesen.

On the other side of the crisis, NIRAS expects continued growth – especially in the international business and within sustainable and digital solutions. But for 2020, the current spread of Corona-virus is expected to negatively affect both revenues and the overall result.

International growth in 2019

In 2019, NIRAS realised a revenue of 2.3 billion DKK, which constitutes a growth of merely three percent. The international growth, however, constituted 12 percent, and thus mirrors a continued significant investment in NIRAS’ international business units within food production, development aid, and marine infrastructure. The result (EBITA) finished at 72.2 million DKK compared to 60.5 million DKK the previous year.

“We are overall satisfied with the result of 2019. During the previous years, 2019 included, we have invested in international growth and business development. The international business now constitutes 36 percent of our turnover, and is characterized by growth in almost all markets, especially in the UK and the Netherlands, where we have invested in several company acquisitions the previous years,” Carsten Toft Boesen says.

Development of the business in Scandinavia

In the antecedent years, NIRAS has expanded considerably in Scandinavia, which makes up 80 percent of the firm’s collective turnover.

“In 2019, we have invested in developing the business to enable further growth the coming years. We strive to assemble consultancy teams across disciplines and geography, who can solve the comprehensive and complex projects demanded by our clients. This approach has been part of the recipe for our growth in both Norway and Sweden these last years, which in 2019 has primarily been centred around infrastructure and utility,” Carsten Toft Boesen elaborates.

Sustainable solutions worldwide

NIRAS has worked with sustainable solutions for a number of years, and we are now seeing high demand from our clients to incorporate sustainability into all projects.

We have invested in making the UN’s Sustainable Development Goals specific and measurable for our clients. We are thus creating an overview and focus, as well as ensuring a way to document the effect.

“We work with sustainability and the UN’s Sustainable Development Goals on multiple levels in NIRAS, and we also try to take our own medicine. This year, we have incorporated scope 3 in our climate accounts, and we are furthermore working on initiatives to decrease the carbon footprint of our procurements. Procurements account for 80 percent of our collective emissions,” Carsten Toft Boesen explains.

Key figures

 

2015

(DKK)

2016

(DKK)

2017

(DKK)

2018

(DKK)

2019

(DKK)

2019

(EURO)

Revenue

1.317

1.474

2.125

2.204

2.279

305

From own production

1.006

1.106

1.647

1.743

1.774

238

EBITA

51,2

56,4

50,4

60,5

72,2

9,7

EBITA margin

5,1%

5,1%

3,1%

3,5%

4,1%

4,1%

Earnings after taxes

36,2

39,2

20,3

33,3

42,7

5,7

Number of employees (avg.)

1.404

1.475

2.206

2.355

2.332

2.332