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Strong quarter and continued growth

STOCKHOLM, Aug. 26, 2020 /PRNewswire/ — Multiconsult had a strong second quarter 2020 with an EBIT at NOK 102.5 million. For the first half of 2020 the EBIT was NOK 219.9 million, an improvement of 187.3% y-o-y. The EBIT margin in the second quarter was 10.8%, and 11.3% in the first half…

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STOCKHOLM, Aug. 26, 2020 /PRNewswire/ — Multiconsult had a strong second quarter 2020 with an EBIT at NOK 102.5 million. For the first half of 2020 the EBIT was NOK 219.9 million, an improvement of 187.3% y-o-y. The EBIT margin in the second quarter was 10.8%, and 11.3% in the first half 2020. Net operating revenues in the second quarter increased by 9.8% y-o-y to NOK 951.7 million, other operating expenses were reduced by 13.1% to 108.4 million, and the billing ratio was improved to 73.8%. The nextLEVEL improvement programme is on track, partly reflected in a reduction in other operating expenses of 12.7% y-o-y to NOK 218.4 million for the first half of 2020. Solid order intake of NOK 1 037 million in the quarter ensures a stabile order backlog of NOK 3 004 million.

“Multiconsult delivered a strong second quarter and a solid first half of 2020, with significantly improved profitability and revenue growth. We are well underway in the turnaround process that started in the first half of 2019. The improvements are a result of our focus on core business, sales and project execution, and significantly reduced operating expenses partially resulting from the nextLEVEL improvement programme.

We are also delivering solid sales resulting in a stable order backlog. While we have seen only modest impact of Covid-19 on our activity level, the pandemic is of course still creating some uncertainty. I am very impressed by the way our employees have adopted to the new working environment, and how their dedication in achieving solid and uninterrupted customer deliveries, has contributed to significant improvements.” says Grethe Bergly, CEO of Multiconsult ASA.

Second quarter 2020

Net operating revenues increased by 9.8% to NOK 951.7 million (NOK 866.7 million) compared to the same quarter last year. The increase in net operating revenues is exclusively organic. There was a calendar effect of one more working day with an impact of NOK 14.9 million.

Reported operating expenses decreased by 4.3% to NOK 799.4 million (NOK 835.4 million). Other operating expenses decreased by 13.1%, confirming that the nextLEVEL improvement programme is on track, together with the impact of lower activity cost such as travel and consultancy expenditure due to Covid-19.

EBIT was NOK 102.5 million (negative NOK 15.9 million), reflecting an EBIT margin of 10.8% compared to a negative EBIT margin of (1.8%) for the same period last year. The comparable 2019 EBIT figure includes non-recurring one-off charge of approximately NOK 20.2 million.

First half 2020

Net operating revenues increased by 7.4% to NOK 1 945 million (NOK 1 811 million) and is exclusively organic driven. There was a calendar effect of two more working days that impacted net operating revenues positively with NOK 28.3 million.

Reported operating expenses was reduced by 1.0% to NOK 1 625 million (NOK 1 641 million). Employee benefit expenses increased slightly, while other operating expenses decreased by 12.7%, partly a nextLEVEL effect, as well as impacted by lower travel costs and other costs reductions related to Covid-19.

EBIT was NOK 219.9 million (NOK 76.5 million), an improvement of 187.3% y-o-y, reflecting an EBIT margin of 11.3%. The comparable 2019 EBIT figure includes non-recurring one-off charges of approximately NOK 30.2 million.

The order backlog at the end of the second quarter 2020 remains solid at NOK 3 004 million (NOK 2 725 million), an increase of 10.2%. Order intake during the quarter increased by 14.9% compared to the second quarter in 2019.

Multiconsult is on track in the ongoing turnaround process that started in the first half of 2019, where the focus has been on the core business, sales and project execution. The nextLEVEL improvement programme is on track. The order backlog is at a solid level and provides a good foundation with a broad customer base. This is further supported by important projects awarded after 30 June 2020.

Subject to uncertainties caused by the Covid-19 situation, the market outlook for Multiconsult’s services is good across most business areas, and with a good pipeline of potential projects coming up. There are however more uncertainties in particular within buildings and properties (including architects) and in certain areas within our energy sector, where a softening of the market is expected. The pandemic continues to create uncertainty for our industry. Multiconsult has registered modest negative impact due to the Covid-19 situation. In relation to Covid-19, Multiconsult has been, and will be, taking prudent, responsible and necessary actions, to secure our people, our business, and our deliveries in close cooperation with our customers.

With a solid market position, leading competences, technology and solutions for our customers, Multiconsult believes it is well placed to handle the challenges of the current uncertainties facing the economy and our industry.

Presentation

A presentation of the second quarter and half year 2020 results will be held today, Wednesday 26 August. In light of the Covid-19 outbreak corresponding restrictions, only a maximum of 20 (pre-registered) participants are allowed to attend the presentation, however the presentation will also be available as a live webcast.

A webcast in Norwegian will be held at 08:30 CET, followed by an audio cast at 09:30 CET in English. The presentations will be held by CEO Grethe Bergly and CFO Hans-Jørgen Wibstad.

The live webcast from the Norwegian presentation can be accessed at www.multiconsult-ir.com and at https://channel.royalcast.com/webcast/hegnarmedia/20200826_3/ or by conference call.

The live audio cast from the English presentation can be accessed at https://channel.royalcast.com/webcast/hegnarmedia/20200826_4/ or by conference call.

Questions to the management can be made directly on the conference call after the presentations or by in writing on the live webcast.

Participant Access Information for the conference calls:

Please join the selected event conference 5-10 minutes prior to the start time.

You will be asked to provide the confirmation code or the title of your conference.

Event Conference Title:   Multiconsult Q2 2020 Presentation

Confirmation Code:         469283

Location

Purpose


Phone Number

Norway

Participant


+47 21956342

United Kingdom

Participant


+44 (0)203 7696819

United States

Participant


+1 646-787-0157

Sweeden

Participant


+46-8-1241-0952

International

Participant


+44 203 7696819

For further information, please contact:

Investor relations:    

Hans-Jørgen Wibstad, CFO
Phone: +47 916 89 661
E-mail: [email protected]

Media:    

Gaute Christensen, VP Communications
Phone: +47 911 70 188
E-mail: [email protected]

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/multiconsult/r/strong-quarter-and-continued-growth,c3181177

The following files are available for download:

SOURCE Multiconsult

Source: https://www.prnewswire.com:443/news-releases/strong-quarter-and-continued-growth-301118544.html

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Tiny Transitions Sleep Consulting Helps Parents Prepare to Fall-Back for Daylight Savings Time

Tiny Transitions Sleep Consulting is preparing families across the United States for the upcoming end to Daylight Savings, observed November 1, 2020, and means we are set to “fall back” one hour in most states when we wake Sunday morning. This change often brings about a disruption in sleep for many families burdened with sleep… Read more »

The post Tiny Transitions Sleep Consulting Helps Parents Prepare to Fall-Back for Daylight Savings Time first appeared on PRUnderground.

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Industry: Parenting & Mothers

Pediatric Sleep Expert & Founder Courtney Zentz helps families prepare to fall back this weekend with a clear plan, to avoid sleep regressions, protests, and bedtime challenges that can come with this change.

Philadelphia, PA (PRUnderground) October 26th, 2020

Tiny Transitions Sleep Consulting is preparing families across the United States for the upcoming end to Daylight Savings, observed November 1, 2020, and means we are set to “fall back” one hour in most states when we wake Sunday morning. This change often brings about a disruption in sleep for many families burdened with sleep challenges in the home. Courtney Zentz, the Founder of Tiny Transitions, and her team of Certified Sleep Consultants across the United States are preparing families for sleep success with a strategy to get through the change.

“Sleep is the foundation for which the house is built,” says Courtney. “Now, more than ever, sleep is critical to maintaining a strong immune system, emotional balance, and peak cognitive function for children and adults.”

Families can choose to adjust before the change, to prepare their body clocks for the adjustment, or after the change takes place. Both take about a week for the body clock to re-align to the new time.

·      Before Daylight Savings Preparation: To prepare for the adjustment before Daylight Savings, you are going to push your child’s naps and bedtime 15 minutes later each day until you reach an hour later.  This way, you ‘fallback’ to their original bedtime. It takes about a week for the circadian rhythm to adapt and adjust to the change.

·      After Daylight Savings Adjustments: You start with changes when you wake Sunday morning.  You split the difference and put your child down 30 minutes earlier for naps and bedtime, for four days, as their body will think it’s 30 minutes later. You then go back to the normal time, and again, it will take a week for the circadian rhythm to adjust following the change. Our personal choice is to handle it this way.

For sample schedules and more detail, read the blog. If you struggle with your child’s sleep, Tiny Transitions Sleep Consulting offers preliminary sleep evaluations at no charge.  For more information on sleep consultations or private sleep coaching packages, visit TinyTransitions.com. To register for their free sleep training mini-series, click here.

About Tiny Transitions Sleep Consulting

Tiny Transitions, a Pediatric Sleep Consulting Company, helps exhausted parents teach their children to sleep well every night with gentle, customized solutions, and private coaching services. Our mission is to teach healthy sleep hygiene and sleep education to parents in support of their children. We provide parents with a solution to their sleep struggles backed by science and balanced with your love, support, and sleep goals unique to every family.

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Source: https://www.prunderground.com/tiny-transitions-sleep-consulting-helps-parents-prepare-to-fall-back-for-daylight-savings-time/00208682/

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JCP&L Supports Clean Ocean Action’s Annual Fall Beach Sweeps

MORRISTOWN, N.J., Oct. 26, 2020 /PRNewswire/ — Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), supported the cleanup of New Jersey’s beaches on October 24 by participating in Clean Ocean Action’s (COA) fall 2020 Beach Sweeps, serving as site sponsor…

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MORRISTOWN, N.J., Oct. 26, 2020 /PRNewswire/ — Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), supported the cleanup of New Jersey’s beaches on October 24 by participating in Clean Ocean Action’s (COA) fall 2020 Beach Sweeps, serving as site sponsor for cleanup work at Belmar’s 16th Avenue Beach in Monmouth County.

“This marks the company’s fourth consecutive year of participating in the Beach Sweeps, and we’re proud to be part of yet another great cleanup effort,” said JCP&L President Jim Fakult. “The work is a testament to our commitment to protecting the spectacular beaches of New Jersey as well as the fish and wildlife population across our service territory.”

JCP&L employees, including members of its environmentally-focused Green Team, joined dozens of volunteers from FirstEnergy’s Employee Business Resource Groups (EBRGs) in the cleanup activities. The company’s EBRGs help support diversity and inclusion initiatives and business objectives through networking, mentoring, coaching, recruiting, development and community outreach.

Because of its continued focus on environmental awareness and sustainable practices and policies, JCP&L is a member of the New Jersey Sustainable Business Registry. The company is the only electric utility on the list of more than 150 New Jersey companies and organizations recognized for environmental leadership efforts.

Now in its 35th year, COA Beach Sweeps is one of the longest-running beach cleanups of its kind in the world, helping to rid beaches of unsightly and harmful debris. Each year, volunteers clean beaches in New Jersey from Raritan to Delaware Bays, as well as underwater sites. Since the program’s inception in 1985, more than 144,000 volunteers have participated, removing millions of pieces of debris from New Jersey’s beaches and waterways.

JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.

FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation’s largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company’s transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.

Editor’s note: Photos of JCP&L employees and volunteers assisting with the Beach Sweeps cleanup activities can be viewed on Flickr.

SOURCE FirstEnergy Corp.

Related Links

http://www.firstenergycorp.com

Source: https://www.prnewswire.com:443/news-releases/jcpl-supports-clean-ocean-actions-annual-fall-beach-sweeps-301159787.html

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Bay Area, Central Coast CCAs Launch $65m in EV-Charging Infrastructure Deployment Programs to Support California’s Transportation Shift

SAN JOSÉ, Calif., Oct. 26, 2020 /PRNewswire/ — Four Community Choice Aggregators (CCAs) from the Bay Area and Central Coast of California are funding – in total, with state financial contributions – $65 million in infrastructure to support the rising number of electric vehicles (EV) in…

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SAN JOSÉ, Calif., Oct. 26, 2020 /PRNewswire/ — Four Community Choice Aggregators (CCAs) from the Bay Area and Central Coast of California are funding – in total, with state financial contributions – $65 million in infrastructure to support the rising number of electric vehicles (EV) in the state. This funding will support thousands of new EV chargers, a significant and essential step toward meeting California emissions reductions goals and Gov. Gavin Newsom’s target of no new combustion engine passenger and light duty vehicle sales by 2035.

San José Clean Energy, Silicon Valley Clean Energy, Peninsula Clean Energy, and Central Coast Community Energy are leading the way toward achieving the goal for electric vehicle charging infrastructure that is available readily for users of all incomes throughout their communities.

“Together, our organizations are supporting the deployment of thousands of chargers in our communities which will transform the EV-infrastructure landscape across our region,” the four CCAs said in a joint statement. “We know that transportation – mainly cars and trucks on our roadways – is the biggest generator of California’s climate change-inducing greenhouse gas emissions. To be serious about addressing emissions, we must aggressively build the charging infrastructure needed to support EVs in every community, across all income levels.”

The CCAs are contributing millions of dollars to amplify the impact of state funding, and when combined with California Electric Vehicle Infrastructure Project (CALeVIP) funds, the overall investments total $65 million. The California Energy Commission’s (CEC) Clean Transportation Program funds CALeVIP to support “a streamlined process for getting chargers installed to fill the significant gaps in charging availability.”

The Peninsula-Silicon Valley Incentive Project will bring $55 million to the region and pay for a significant amount of installing new EV charging. The funding is distributed to each CCA service area and the local partnerships help deploy charging infrastructure in areas with the greatest need. The project also includes two municipal partners with the City of Palo Alto Utilities and the City of Santa Clara’s Silicon Valley Power. 

The Central Coast will benefit from a collective $9.2 million in funding through the Central Coast Incentive Project totaling $7 million for the Monterey Bay Region, and a $2.2 million investment by 3CE to fund zero-emission school buses.

Peninsula Clean Energy in September launched its EV Ready Program that includes an additional $16 million in incentives, technical assistance and workforce development to expand electric vehicle charging infrastructure at workplaces, multi-family housing complexes, and public sites. These funds supplement the $12 million for San Mateo County that is included in the CALeVIP Peninsula Silicon Valley Incentive Project. The EV Ready Program plans to install 3,500 charging ports across San Mateo County in the next four years, including over 1,300 ports at multi-unit dwellings to address the massive gap in charging accessibility at apartments. Peninsula Clean Energy also recently expanded its electric vehicle rebate program, offering residents $1,000 rebates for new fully electric vehicles and $700 for plug-in hybrids.

San José Clean Energy in August launched its Drive Electric program where residents can take advantage of extra discounts on EVs. San José partnered with five local dealerships to offer up to $3,000 in discounts on seven EV models now through October 31. In partnership with Peninsula Family Service, SJCE’s DriveForward program offers free workshops and one-on-one counseling to support moderate to low-income households with purchasing a new or used EV. The Peninsula-Silicon Valley Incentive Project will bring $14 million to San José ($4 million from SJCE and $10 million from the CEC) and will double the current level of public EV infrastructure in the city. In addition, at least 25 percent of the funding will be invested in low-income and disadvantaged communities.

Central Coast Community Energy (3CE) has made $7 million available for the installation of electric vehicle charging stations in late 2019 with the Central Coast Incentive Project (CCIP). The combined funding between 3CE and CALeVIP totals $7 million. The Central Coast Incentive Project will support up to 600 Level 2 chargers and 60 DC fast chargers across the Monterey Bay region and the available funding is nearly reserved with 36% of reserved funding earmarked for disadvantaged communities. The Central Coast Community Energy board also approved funding for a range of electrification programs, including $2.2 million for zero-emission school bus grants in partnership with the local air districts across the Central Coast.

Silicon Valley Clean Energy’s 2019 EV infrastructure plan assessed and prioritized EV charging needs across their communities. The agency is currently deploying $8 million in EV charging initiatives, including $6 million toward CALeVIP which, combined with CEC funds, is a part of $12 million in local charging incentives – expected to directly support installation of over 1,000 Level 2 ports and nearly 100 DC fast chargers. SVCE’s initiatives include free technical assistance for multi-family and commercial properties and additional incentives for DC fast chargers located near designated clusters of multi-family housing. These efforts are supported by a growing collaboration of local EV leaders led by SVCE that focuses on solving key challenges, connecting with other stakeholders and sharing best practices. With additional funds, the agency is also running several innovative EV pilots that have the potential to unlock the value of managed residential charging and improve the business case for installing charging at multi-family properties.

Central Coast Community Energy, Peninsula Clean Energy, San José Clean Energy and Silicon Valley Clean Energy are Community Choice Aggregators, or CCAs, providing competitively priced, clean energy choices to their communities while reinvesting revenues into local and statewide projects and programs, supporting sustainability and enhancing their local economies. The 21 CCAs in California serve more than 10 million customers. 

Contact:                                     
Pete Hillan 
[email protected]
415-244-5782 

SOURCE Peninsula Clean Energy; San José Clean Energy; Central Coast Community Energy; Silicon Valley Clean Energy

Source: https://www.prnewswire.com:443/news-releases/bay-area-central-coast-ccas-launch-65m-in-ev-charging-infrastructure-deployment-programs-to-support-californias-transportation-shift-301159786.html

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