In what are still demanding times, AFs employees have worked hard to deliver results.
In 2021 we increased revenues, improved profitability and at the same time almost
halved the number of serious incidents in our projects. At AF, we believe that safety is a prerequisite for profitable growth. We find that AF Gruppen's strong HSE culture is emphasised when large contracts are awarded. At AF everyone has equal worth. Both own employees and employees of our subcontractors are therefore included in our safety statistics.

AF’s strategy maintains the ambition of profitability and growth. The target for
2024 is revenues of NOK 40 billion and an operating margin of 7%. Four initiatives are
prioritised: disciplines and management, customers and suppliers, climate and environment as well as innovation. We are well on our way to operationalising the initiatives as well as concretising plans and contributions from the business units, so that together we are equipped to achieve the objectives of the

The construction industry is in rapid development and has taken great strides in terms of innovation and technological development in recent years. Demanding and professional customers help us to develop, and with solid competence and good cooperation with suppliers, we are able to take on larger and more complex projects.

AF has a sustainable vision: Clearing up the past and building for the future. Climate and environmentally friendly projects are becoming increasingly in demand and valuable for our customers, and good climate and environmental work is important to our committed employees and for society. One basic principle at AF is that projects that are sustainable for the climate and environment also need to be financially sustainable. The services AF provides within all business areas can make a
significant contribution to the green transformation. AF’s strategic goal in climate and the environment is that we will halve greenhouse gas emissions and unsorted waste and contaminated masses sent to incineration and landfill relative to revenue per service type by 2030.

Good cooperation and a sense of community make us stronger and better. This
is about clear communication and clarification of expectations, so that together we
can deliver profitable and socially beneficial projects that several generations will benefit from. We will do this with integrity and a crystal clear goal of behaving properly and contributing to a serious and safe business life. At AF Gruppen, we will ensure diversity and equal development opportunities for all.

The efforts our employees have made together with colleagues, customers and
partners give us good reason to be proud. AF has a strong and value-creating culture which means that we will continue to have the best conditions for profitable growth in the future.