In 2025, COWI delivered the highest result in the company's history and expects to resume growth in 2026, even though revenue this year was unchanged compared to the previous year. Revenue ended at 8.3 billion DKK, corresponding to organic growth of 0 percent, adjusted for calendar effects, while the order backlog increased to 8 billion DKK. This was announced by the consulting company in a press release.
EBITA increased to 683 million DKK from 607 million DKK the previous year, and the EBITA margin grew to 8.3 percent against 7.3 percent in 2024. EBIT including special items increased by 83 percent to 499 million DKK, which gave an EBIT margin of 6.0 percent against 3.3 percent the previous year. The year's profit increased by 81 percent to 374 million DKK. kr.
- Despite instability in the world around us, we managed to keep revenue at a stable level and achieve another year of record-high earnings. This shows not only the strength and robustness of our business, but also the commitment, skills and adaptability of our employees. They have adapted to changes and continued to help our customers create a more sustainable and resilient future, even at the same time as a comprehensive organizational transformation and in markets characterized by high geopolitical uncertainty. With this result, we are steadily approaching the goal of becoming a financial top performer in our industry, says Jens Højgaard Christoffersen, CEO of COWI.
According to the company, the flat revenue is related to a deliberate opt-out of activities with low margins. During the year, COWI has prioritized profitability over volume as part of a comprehensive transformation. The improved earnings are explained, among other things, by better project execution, tight cost management and a more efficient use of resources.
- We are currently engaged in our most ambitious transformation to date and are focusing our energy on simplifying the organization and strengthening our profitability. We have deliberately opted out of certain activities with low margins and prioritized profitable growth in light of the difficult market conditions, says Jens Højgaard Christoffersen.
For 2026, COWI expects to resume growth with organic growth of around 5 percent, driven by a strong order backlog and pipeline. The company also expects an EBITA margin of around 8 percent and maintains the long-term goal of an EBITA margin of 10 percent.
- Ultimately, it is the trust of our customers that drives our development. Our long-term partnerships and their trust in our joint solutions form the foundation for our success and remain our strongest motivation through 2026, says Jens Højgaard Christoffersen.
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