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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Invitation to presentation of the Q2 2018 results17.8.2018 10:10 | Presseinvitasjon
AF Gruppen (AFG) will release its 2nd quarter results 2018 Friday August 24 at 07:00 am CET.
AF Gruppen to build 149 apartments at Grünerløkka29.6.2018 13:07 | Pressemelding
AF Gruppen has signed a contract with Sofienberggaten 21-23 AS to build the residential project “Mills-kvartal” at Grünerløkka in Oslo. The residential development company is owned by Agra, Canica and Macama (40 % / 40 % / 20 %).
Strøm Gundersen Vestfold to build 47 apartments at Nøtterøy28.6.2018 11:46 | Pressemelding
Strøm Gundersen Vestfold, of which AF Gruppen is majority owner, has been chosen as contractor to build the apartment project Signaturhagen at Nøtterøy. The client is Signaturhagen Nøtterøy.
LAB Entreprenør to build 129 apartments in Bergen25.6.2018 16:07 | Pressemelding
LAB Entreprenør, a subsidiary of AF Gruppen (AFG), has entered into a contract with Profier AS to build a residential project at Skiparviken in Fana district outside Bergen city centre.
AF Gruppen to build for Statkraft Energi in Høyanger14.6.2018 11:58 | Pressemelding
AF Gruppen has been contracted by Statkraft Energi to build a new access tunnel and road to Eringsdalen power station’s magazines in the municipality of Høyanger.
Thorendahl to renovate Briskeby fire station13.6.2018 11:45 | Pressemelding
Thorendahl, a company in AF Gruppen, has won a major contract with Omsorgsbygg Oslo KF to renovate Briskeby fire station.
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