AF Gruppen's Q1 revenues totalled NOK 2,707 million (NOK 2,534 million). Earnings before tax were NOK 186 million (134 million), corresponding to a profit margin of 6.9% (5.3%).
AF Gruppen imposes the same requirements on its partners and suppliers as on its own employees. It is expected that everyone actively participates in making our shared workplaces safe. The LTI rate for Q1 was 2.1 (0.0). Total sickness absence for Q1 was 4.3 % (4.7 %).
The order backlog was NOK 10,623 million (NOK 11,287 million). Net operating cash flow was NOK 152 million (493 million) in the 1st quarter.
AF Gruppen has a strong financial position and as at 31 March 2016 the group had net interest-bearing receivables of NOK 705 million (NOK 375 million).
“AF Gruppen has a strong financial position, and we are proud to present a good result for the first quarter. Even more important to us is that no one is injured at work. An increase in the number of injuries with absence is thus a reminder to us as managers that our day-to-day presence and involvement remains decisive in order to enable good and safe operations.
There is a great deal of competition for contracts. Active risk management has contributed, and should continue to contribute, to good profitability in individual projects and for the Group overall. If we stay true to the course, the opportunities to perform well in the time ahead will present themselves. Skilled employees across the board is and will remain our foremost competitive advantage,” says Morten Grongstad, CEO of AF Gruppen.
For further information, contact:
Morten Grongstad, CEO, mobile +47 991 53 905
Sverre Hærem, CFO, mobile +47 952 45 167
Wibecke Brusdal, Director Corporate Communications, mobile +47 930 93 150
