AF Gruppen shows strong growth
AF Gruppen (AFG) had revenues in Q1 of NOK 3,883 million (2,662 million). This represents growth in revenues of 46 per cent.
Earnings before tax were NOK 194 million (142 million) for the 1st quarter. This corresponds to a profit margin of 5.0% (5.4%). Earnings per share were NOK 1.33 (0.89). The order backlog was worth NOK 19,451 (15,984) at the end of the quarter.
AF Gruppen is in a very strong financial position. Net operating cash flow was NOK 126 million (415 million) for the 1st quarter. As at 31 March 2018, AF Gruppen had net interest-bearing receivables of NOK 1,017 million (1,063 million). The Board of Directors proposes a dividend of NOK 5.00 (5.00) per share for the first half of 2018.
AF imposes the same strict requirements on all its partners and suppliers as on its own employees, and figures from subcontractors are included in injury statistics. The LTI rate for the first quarter was 1.3 (1.1).
AF works systematically to avoid work-related absence. The goal is overall sickness absence of less than 3.0 per cent. The absence due to illness for Q1 was 3.5% (3.5 %).
Sweden was established as a new business area for AF Gruppen as of 1 January 2018. The business area consists of the units Kanonaden Entreprenad and subsidiaries, Pålplintar, AF Härnösand Byggreturer, AF Bygg Göteborg, AF Bygg Syd and AF Projektutveckling.
"AF Gruppen began 2018 with solid growth in both Norway and Sweden. We need a continuous supply of new colleagues and are experiencing great interest in both AF Gruppen and our industry. Recently published surveys by Universum and Karrierebarometeret showed that Engineering students see AF as the most attractive employer among contractors in Norway.
It is part of the AF culture to be curious and look for new solutions. The possibilities for innovation and the use of digital tools in the construction process are almost limitless. Improving existing processes is a natural part of our project operations and the key to increased productivity and quality. Meanwhile, innovation and digitalisation make us more attractive as an employer for the smartest brains. To further enhance our competitiveness, AF has built an organisation dedicated to increasing innovation and digitalisation, as well as facilitating new business models. AF has also, in cooperation with OBOS, established a separate venture aimed at innovative start-ups in the construction industry. The ambition is to enable good technology solutions to be realised," says Morten Grongstad, CEO of AF Gruppen.
Morten GrongstadCEO+47 991 53 firstname.lastname@example.org
Sverre HæremCFO+952 45 email@example.com
Wibecke BrusdalCommunication Director+47 930 93 firstname.lastname@example.org
Om AF Gruppen ASA
AF Gruppen is a leading contracting and industrial group. The purpose of our business is to create value for our customers, owners, employees and society at large. We are proud of our good financial results, but every bit as important are the non-financial values that we create every day. A safe working environment for our employees and sub-contractor personnel, new services that help solve society’s environmental challenges and ethical business operations that create security for our customers. This in turn provides us with the opportunity to create additional value for our owners.
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Siste saker fra AF Gruppen ASA
LAB Entreprenør to build 65 apartments in Bergen14.11.2018 13:41 | Pressemelding
LAB Entreprenør, a company in AF Gruppen (AFG), has entered into an agreement with Skjoldnes Utvikling AS regarding the construction of 65 apartments at Skjoldnes in Bergen municipality.
Solid results from the AF Gruppen9.11.2018 07:28 | Pressemelding
AF Gruppen continues its growth and delivered a solid result in Q3.
Invitation to presentation of the Q3 2018 results5.11.2018 08:49 | Presseinvitasjon
AF Gruppen (AFG) will release its 3rd quarter results 2018 Friday November 9 at 07:00 am CET.
AF closes Helgesen Tekniske Bygg AS acquisition30.10.2018 14:47 | Pressemelding
Reference is made to the stock exchange announcement dated 27 August 2018, where AF Gruppen announced a signed a letter of intent regarding Helgesen Tekniske Bygg AS.
AF Gruppen signs letter of intent to acquire Swedish construction company15.10.2018 09:08 | Pressemelding
Today AF Gruppen signed a letter of intent to acquire 70% of the shares of HMB Holding AB.
New offshore decommissioning project for AF Gruppen12.10.2018 08:13 | Pressemelding
AF Gruppen ASA (AFG) have received an extension notice for a current frame agreement to include future removal and disposal of up to four additional platforms for a client in the UK North Sea.
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