Letter from the Chair and the CEO
Over the past eight decades, Ramboll has grown to become a leading international engineering, architecture, and consultancy company with a mission to create sustainable societies where people and nature flourish.
In 2024, we took many more steps on that journey together with our clients. We continued to drive the global green energy transition, the decarbonisation of heavy industry, the improvement of infrastructure and connectivity, and the restoration of fragile ecosystems. We also pushed the limits of innovation in the design of new buildings and retrofitting of existing buildings. We helped businesses implement ambitious sustainability and biodiversity strategies, and we participated in transformative projects of national importance, such as the North-South Corridor in Singapore.
Our progress enables us to report strong growth in our Environment & Health and Energy markets. We also saw good performance in some of our geographical strongholds, especially in the Americas and the UK.
The year 2024, however, also came with challenges and uncertainty. Many large-scale projects were delayed or cancelled throughout the year, negatively affecting the financial performance of some of our major markets, especially Buildings and Henning Larsen, and also in our high-growth market, Energy.
The challenging year resulted in an overall growth rate and EBITA margin that are below our expectations.
Stronger than ever client relationships
As the ‘Partner for Sustainable Change’, it is at the heart of our business to earn our clients’ trust. Throughout 2024, we have therefore continued to streamline our operations and bring our global expertise closer to our clients. Our aim is to have strongly empowered local organisations complemented by global competences, lean processes, and a clear focus on technology and innovation.
Our latest Client Loyalty Survey revealed an all-time high loyalty score among our most important clients. We are honoured that more than 90% of our clients see Ramboll as a trusted dvisor. We are also delighted that our clients continue to rank sustainability as one of their top strategic priorities, reflecting their commitment to reaching global climate and nature goals despite changing macroeconomic conditions.
2024 was also a year where we welcomed many new colleagues into Ramboll. In August, we announced the acquisition of K2 Management, a global consultancy company specialised in wind and solar energy, allowing us to support clients throughout all stages of wind energy projects. We also welcomed new colleagues from waste-to-energy engineering consultancy, Wandschneider + Gutjahr, with whom we will continue to drive the decarbonisation of the German energy sector.
We acquired the data centre consultancy, i3 Solutions, in a significant step towards becoming a global leader in data centre design and consultancy. Finally, with the acquisition of Scientific Consulting Company, we aim to play a leading role in the EU and global product safety and regulatory affairs market and enable clients to protect biodiversity and natural resources.
A thriving organisation fit for growth
Our markets remain difficult, but we are seing fragile signs of recovery. In most markets, the need for sustainable change remains a driving force in society, and we thank our valued clients for their continued loyalty and trust.
We are also in times of rapid change and uncertainty. We have therefore chosen to extend our current strategy period by a year into 2026, allowing us to focus our efforts on improving our business performance, our competitiveness, and our own agility, while gaining more clarity about the future of our markets.
Finally, we wish to extend our heartfelt thanks and appreciation to all our employees who continue to inspire our clients with world-class services and innovation. Their expertise is what drives our company forward, and we deeply value their persistence, passion, and dedication.
Claus Hemmingsen, Chair of the Group Board
Jens-Peter Saul, CEO