In every way, 2022 was a very satisfying year for NIRAS

Growth and investment in the future

For NIRAS, 2022 was the second year in succession to return double-digit growth in both top and bottom lines. The management is thrilled to look back upon a year in which all parts of the business contributed to development, growth and earnings.

"I am very grateful for the trust our customers have shown us during the year – a trust which has resulted in many new projects and collaborations and even a historically large order book. I would also like to commend my 2.500 competent and committed colleagues employees, who again in 2022 made it possible to deliver on NIRAS's ambitions for good service and high quality across disciplines and geography in 2022. In fact, I am incredibly proud when I look back at 2022," begins CEO Carsten Toft Boesen.

In 2022, our own production increased from DKK 1.9 to 2.1 billion, and turnover grew from DKK 2.9 to 3.5 billion. Moreover, the year's result (EBITA) had shot up from DKK 132 to 149 million – this in a year where significant investments have been made in market and employee development.

Based on NIRAS's position within offshore wind and biogas, it was decided that, at the end of 2021, the organisation would invest DKK 150 million over a number of years in developing skills and solutions aimed at an increased commitment to the green energy transition. The venture is off to a good start, with a number of strategic appointments, cross-cutting market development initiatives and tasks primarily related to offshore wind, biogas, electrification and Power-to-X.

"We want to contribute as much as possible to the green energy transition and have thus decided to make massive investments in building expertise and capacity within green energy production, transmission and fuels,” says CEO Carsten Toft Boesen, going on to explain how the investment includes disciplines and customers across NIRAS's sectors and markets.

Significant new projects       

Danish infrastructure investments have gotten back on track after a long break, and with the awarding of the Nordhavn tunnel, the Hillerød motorway extension and the Vestfyn railway line, NIRAS's Danish infrastructure portfolio reached the Norwegian level, where recently, NIRAS has been awarded the design of three crossing tracks on the legendary Bergen Railway.

At the same time, NIRAS continues to experience a very high level of investment and great demand within pharma & life sciences, where the shortage of employees has been a significant challenge. At the beginning of the year, NIRAS was awarded two significant contracts. First, the Danish Energy Agency had chosen NIRAS’s expertise for the strategically important survey of Denmark's total environmentally sustainable potential for wind energy and second, the Swedish Armed Forces selected NIRAS to be their environmental advisor for another period.

While there has been a decline in certain parts of residential construction, NIRAS has been able to focus on institutional investors and industrial construction over a longer period, resulting in a very strong order book that includes Randers’ Flodbyen and Travbyen in Billund for Kirkbi.

Where water supplies are concerned, climate adaptation and advanced water treatment – especially softening – continue to be in-demand and fill our order books. In 2022, Aarhus Vand had also selected NIRAS for another six years in the water company’s partnership, Vandpartner.

Attractive workplace 

NIRAS’s number of employees grew by 9% in 2022, and we can happily say we have succeeded in maintaining very high employee satisfaction and a relatively low employee turnover throughout the year, all while attracting over 600 new colleagues in a very competitive job market. 

"We emphasize being an attractive workplace, where there are challenging projects and talented colleagues to engage with, where it is easy to work across the organisation and where there are good development opportunities for each individual. In 2022, we continued our tradition of expertise development via Ph.d. projects and also completed a number of initiatives providing opportunities for younger employees in particular to develop their skills and networks across subjects, sectors and geography. We have also seen how increased flexibility in working life may be a point of motivation when choosing a workplace; we have a tradition of accommodating this at NIRAS, and we have chosen to clarify these options in step with the increased interest," says CEO Carsten Toft Boesen.

Demand for advice on sustainability 

Sustainability, which has been key to NIRAS's mission for over 15 years, has today become a central element in the work of almost all companies and organisations. In addition to the work to ensure the sustainability of the organisations own activities, NIRAS delivered on a wide range of SDG-related projects. In a number of developing countries, where issues include the management of natural resources, good governance, climate adaptation and sustainable economic development, NIRAS worked intensively in relation to sustainability. The process industry is experiencing increased demand within plant-based food production, and sustainable solutions, processes and materials have really come into focus and been made measurable across Construction, Infrastructure, Supply and Environment.

In close collaboration with Carlsberg, NIRAS developed water-saving solutions for production at the Fredericia Bryggeri. These solutions are gradually developing into international standards for the brewing industry with several of the industry's global brands requesting similar solutions. The industry's total potential for water savings is in excess of one hundred million m3/year.

Another example related to water is DIN Forsyning in Esbjerg, who explored the possibilities of using purified wastewater as an alternative to drinking water for their Power-to-X plant. This eases the strain on the area's already hard-pressed drinking water resources and reduces the wastewater load on the Wadden Sea.  

"Delivering sustainable solutions to our customers is at the core of our mission. Our experts collaborate across the organisation – and with the involvement of customers and knowledge partners – to deliver services and solutions which necessarily provide overview, transparency and documentation of goals and effects within sustainability. We find this to be in great demand," says Carsten Toft Boesen.

Successful acquisitions

NIRAS’s 10% growth is primarily driven by organic growth amounting to 8.5%, while the remaining growth comes from acquisitions. In 2022, Irish Dolmen Engineering and Swedish AquaBiota became part of NIRAS. In terms of market performance and capacity, the companies contribute to NIRAS's growing business within pharma & life sciences and water environment analyses in relation to the green energy transition respectively. Integration is already well under way with system integration, knowledge sharing and several joint offers and projects.

"In 2022, we succeeded in two strategically important acquisitions, AquaBiota in Sweden and Dolmen Engineering in Ireland. AquaBiota works primarily with environmental impact assessments for offshore wind power and Dolmen delivers engineering solutions for the life sciences sector. Both companies contribute with customers, services and competencies in two of our growth markets," explains CEO Carsten Toft Boesen.

Confidence in the future despite uncertain times

Despite significant continuing uncertainty about the security policy situation and economic development both in Denmark and the world at large, we look with confidence to 2023, when we expect to deliver on our strategic goal of continued profitable growth and sustainable development. 

"After a thorough analysis of our market segments and dialogue with key customers, we look to a 2023 where we expect reasonable profitability and good growth opportunities to continue. We are planning to increase our investments in the green energy transition, sustainable solutions and digital innovation – and, not least, in the development and expertise of our employees," says managing director Carsten Toft Boesen.

Key figures: In DKK million (unless otherwise stated)