NIRAS Reports Record Earnings and Steady Growth, Sets Ambitious Goals for Future

NIRAS Reports Record Earnings and Steady Growth, Sets Ambitious Goals for Future

(IN BRIEF) NIRAS, a leading consultancy firm, has announced its robust annual results for 2023, boasting record earnings (EBITA) of DKK 167 million and a commendable organic growth rate exceeding 10%. Despite challenging market conditions marked by inflation and global conflicts, NIRAS achieved significant growth across all sectors and markets, attributing its success to a focus on sustainability, digitalization, and strategic investments. CEO Carsten Toft Boesen emphasized the company’s commitment to fostering a supportive workplace culture and outlined ambitious plans for international expansion and doubling the company’s size by 2030. With a solid foundation established from the previous strategy period, NIRAS looks forward to continued growth in 2024, fueled by investments in sustainability and organizational development to maintain its position as a market leader while preserving its unique identity and culture.

(PRESS RELEASE) ALLERØD, 25-Mar-2024 — /EuropaWire/ — Again this year, we have achieved growth of more than 10%. Earnings (EBITA) reached an all-time high of DKK 167 million, corresponding to 7.1% of net sales. Our revenue in 2023 reached DKK 3.8 billion. This development can be attributed to growth across all sectors and markets. In 2023, we also further increased our investments in strategic initiatives, especially in digitalisation and sustainability, including the green energy transition. During 2023, the number of NIRAS employees has grown to approximately 2900 across 60 offices around the world.

CEO Carsten Toft Boesen says: “We have had a very good year with growth and robust financial results despite challenging market conditions with high inflation, rapidly rising interest rates as well as war and armed conflict in both Ukraine, the Middle East and parts of Africa. This growth is driven by a continued high demand for climate adaptation, green transition, infrastructure and life sciences, where customers across sectors and markets demand solutions that support sustainability and have entrusted us with several tasks.”

“Thanks to a strong team effort, we have achieved most of the goals we set ourselves in our strategy for the period 2020-2023. Our focus on organic growth and strategic initiatives, especially around green transition and digitalisation, has generated satisfactory financial results and at the same time contributed to a more sustainable development of society through projects and partnerships,” says Carsten Toft Boesen.

“We owe our results and progress to our customers and not least to our employees. We have benefited from a low employee turnover and a high level of employee satisfaction, and we see a very important management task in continuing to be an interesting and developing workplace that manages to attract and retain talented people and makes it appealing to unfold one’s working life at NIRAS,” says Carsten Toft Boesen.

Robust foundation for the upcoming strategy period

We have just emerged from our strategy period for 2021-2023, where we have achieved most of our strategic goals. We have established a solid foundation for the upcoming strategy period for 2024-2026, where international growth as well as identity and culture are important focus areas to complement our continued strategic investments in digitalisation and sustainable transition.

In the coming strategy period, we expect growth, especially in the Northern European markets, and we have an ambitious goal of doubling NIRA by 2030.

“We will welcome many new colleagues in the coming years, both nationally and internationally. We will therefore focus on developing and strengthening NIRAS’s identity and culture, which is characterised by a low degree of centralisation and a high degree of autonomy and self-determination – and avoid the heavy processes and expensive bureaucracy that often accompany companies of a certain size. We are convinced that our identity and culture are crucial to our positive development so far – not least our ability to attract employees in a highly competitive job market,” says Carsten Toft Boesen.

Our goal is to combine the presence and agility of the small company with the capacity and breadth of expertise of a large one. We do this, among other things, by organising ourselves as a network of robust self-sustaining business units with strategic autonomy to achieve market leader status within their respective niches.

Continued growth in 2024 

We look forward to a 2024 with the expectation of continued growth and profitability. We will continue to invest in sustainability, digitalisation and business development, with an expected increase in investments in 2024. In particular, we will increase our engagement and investments in our green energy transition initiative. We will also initiate internal initiatives to work with our identity and culture, so that we maintain what makes NIRAS a particularly good workplace and at the same time grow globally.

Key figures: In DKK million

*Survey is carried out every two years (next survey is in 2024)

**Resigned FTE compared to total FTE in NIRAS A/S, which constitute 70% of total Group global FTEs

Media Contact:

Carsten Toft Boesen
Chief Executive Officer, President
Allerød, Denmark
+45 48104200
ctb@niras.dk

SOURCE: NIRAS