AF Gruppen ASA

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.

Demolition of Loran-C radio mast in Vesterålen. Photo: AF Gruppen/Fartein Rudjord
Demolition of Loran-C radio mast in Vesterålen. Photo: AF Gruppen/Fartein Rudjord

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.



Demolition of Loran-C radio mast in Vesterålen. Photo: AF Gruppen/Fartein Rudjord
Demolition of Loran-C radio mast in Vesterålen. Photo: AF Gruppen/Fartein Rudjord

About AF Gruppen ASA

AF Gruppen ASA
AF Gruppen ASA
Innspurten 15
0603 Oslo

+47 22 89 11 00

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.

Subscribe to releases from AF Gruppen ASA

Subscribe to all the latest releases from AF Gruppen ASA by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from AF Gruppen ASA

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom