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
About 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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Latest releases from AF Gruppen ASA
AF Gruppen nominated for contract by Sporveien AS12.7.2019 15:00:22 CEST | Press release
AF Gruppen (AFG) is nominated by Sporveien as contractor for construction of Ryen workshop.
Appointed turnkey contractor for new solid wood building3.7.2019 08:36:33 CEST | Press release
Sørby Utleie AS has appointed AF Gruppen as turnkey contractor for the new building and outdoor areas at Holtskogen in the municipality of Hobøl.
Awarded design and build contract for Os school and sports arena1.7.2019 14:30:05 CEST | Pressemelding
AF Gruppen has been nominated by Halden municipality as design and build contractor for Os school and sports arena. The estimated contract value is NOK 405 million excluding VAT. Building is expected to start in August 2019 following approval by the municipal council, and expected takeover is in June 2022.
Building more apartments in Sandefjord25.6.2019 14:56:58 CEST | Press release
Strøm Gundersen Vestfold, which is majority owned by AF Gruppen, has been chosen as contractor for construction phase 2 of the apartment project at Nye Kilen Brygge in Sandefjord.
Handed new assignment by Wallenstam in Sweden20.6.2019 14:44:10 CEST | Press release
AF Gruppen’s subsidiary HMB Construction AB has signed a contract with Wallenstam to build 161 apartments in the Flanören quarter in Uppsala. The contract is worth approximately SEK 176 million.
Awarded collaborative contract for new cultural quarter for Vestby municipality17.6.2019 15:05:15 CEST | Press release
Vestby municipality has recommended AF Gruppen as collaboration contractor for a new cultural quarter in Vestby municipality.
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