The company delivered solid organic growth and stable profitability in 2025, with acquisitions including the Metier Group strengthening its interdisciplinary offerings. Norconsult is one of the largest Nordic consulting companies in engineering, architecture and community planning, with roots dating back to 1929. The company operates across multiple end markets including infrastructure, renewable energy, buildings, and public sector projects.
Cyborg Score Rationale
Full year 2025 showed strong revenue growth with income after external project costs increasing 12% and organic growth of 6%, with stable adjusted EBITA margin of 9.2% adjusted for calendar effects. The company benefits from strong market positioning in the Nordics and recent strategic acquisitions, though consulting sector margins are moderate.
Top Insights
Strong recent acquisition activity (Metier Group, Aas-Jakobsen) driving market consolidation and service breadth
Consistent double-digit revenue growth with stable 9%+ EBITA margins in 2025
Significant renewable energy and infrastructure project pipeline (e.g., Illvatn pumped storage hydropower with Norsk Hydro)
Geographic diversification across 6 Nordic and Eastern European countries reduces revenue concentration risk
Named Competitors
Engineering and Architecture Consulting — Leading Nordic engineering and architecture consultant
Infrastructure Consulting — Pan-European consulting and design firm
Building and Urban Planning — Nordic architecture and design studio