AF Gruppen with strong growth and a good result
AF Gruppen increased revenues by 40% in the second quarter and delivered a good result for the quarter and first half of 2018.
AF Gruppen's revenues were NOK 4,692 million (3,347 million) in the second quarter and NOK 8,575 million (6,009 million) for the 1st half of the year. This corresponds to growth of 40% and 43% respectively, compared to the same period last year. Earnings before tax were NOK 256 million (NOK 250 million) for the 2nd quarter and NOK 450 million (393 million) for the 1st half of the year. This resulted in a profit margin of 5.5% (7.5%) for Q2 and 5.3% (6.5%) for the first 6 months.
AF Gruppen has an uncompromising attitude towards safety, and imposes the same stringent requirements on partners and suppliers as on our own employees. Figures from subcontractors are therefore included in the injury statistics. The LTI rate for the second quarter was 0.8 (1.4). The LTI rate for the first half of 2018 was 1.1 (1.2). For the 2nd quarter, sickness absence was 3.1% (2.8%), and year to date it was 3.4% (3.2%).
An order intake of NOK 5,106 million during the quarter resulted in an order backlog of NOK 19,866 million as at 30 June 2018. Net operating cash flow was NOK 33 million (203 million) for the 2nd quarter and NOK 159 million (619 million) for the 1st half of the year.
AF Gruppen has a strong financial position, and the group had net interest-bearing receivables of NOK 609 million (698 million) as at 30 June 2018.
“Our growth and value creation must never be at the expense of safety. This requires a great effort every day. We were given a strong reminder of how vulnerable we are when an employee of one of our subcontractors died as a result of a work accident on the E18 Tvedestrand-Arendal project in May. When fatal accidents occur, strong growth and a good quarterly result play second fiddle. Although we have a low injury rate, we must never forget that safety work requires constant maintenance. Continuous learning and measures that reinforce the barriers against adverse events therefore have a high priority. It is our responsibility that everyone who works on our projects arrives home safely every day, and this sets the standard for our project implementation,” says CEO Morten Grongstad 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
Rehabilitation project for the University of Oslo12.4.2019 14:04:50 CEST | Pressemelding
Haga & Berg Entreprenør, a company in AF Gruppen, has signed a substantial contract with the University of Oslo regarding the rehabilitation of Brøggers Hus at the Botanical Garden in Oslo.
LAB nominated as contractor to build new county administration building in Bergen1.4.2019 12:29:39 CEST | Pressemelding
LAB Entreprenør AS, a company in AF Gruppen (AFG), has been nominated by Hordaland County Municipality as contractor to build the new county administration building in Bergen city centre.
AF Gruppen to renovate Kolbotn elementary school and multi-purpose hall27.3.2019 11:33:52 CET | Pressemelding
Kolbotn school is to be renovated and have a new multi-purpose hall. Oppegård municipality has proposed AF Gruppen as design and build contractor for the project.
AF Gruppen to build 196 apartments in Nittedal26.3.2019 12:41:24 CET | Pressemelding
AF Gruppen has entered into an agreement with Øie Eiendomsutvikling AS to build the residential project “Kvernstua” in Nittedal in Akershus.
AF Gruppen to build Mälarpark School in Västerås25.3.2019 08:13:32 CET | Pressemelding
AF Gruppen’s subsidiary HMB Construction has been appointed by Västerås stad as turnkey contractor for the construction of the Mälarpark School.
Changes to the Building business area20.3.2019 14:27:15 CET | Pressemelding
Geir Flåta will be new EVP for AF Gruppen’s wholly owned building operations in Norway. Amund Tøftum, in addition to being EVP for Offshore, will be responsible for the part-owned Norwegian Building operations.
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