Multiconsult reported Q2/24 EBITA of NOK 186m vs company collected consensus of NOK 161m. The earnings beat vs. our estimate was explained by stronger than expected top line growth. While certain segments of the market are facing increased competition, we believe Multiconsult’s diversified portfolio will help offset some of these effects. Additionally, the architecture market is showing signs of improvement (even when adjusting for the positive contribution from a royalty rights sale of NOK 7m i ....
