AF Gruppen's revenues were NOK 3,170 million (3,490 million) in the 2nd quarter and NOK 5,877 million (6,024 million) in the 1st half of the year. Earnings before tax were NOK 249 million (262 million) in the 2nd quarter and NOK 435 million (397 million) in the 1st half of the year. The profit margin was 7.8 per cent (7.5 per cent) in the 2nd quarter and 7.4 per cent (6.6 per cent) in the 1st half of the year.

AF imposes the same strict requirements on all its partners and suppliers as on its own employees.  Figures from the subcontractors are therefore included in the injury statistics. The LTI rate for the 2nd quarter was 0.7 (0.8). The LTI rate for the 1st half of the year was 1.3 (0.4). Sickness absence for the 2nd quarter was 3.3 per cent (3.2 per cent), and so far this year it has been 3.8 per cent (3.9 per cent). 

A strong order intake during the quarter gave an order backlog of NOK 11,626 million (11,552 million). Cash flow from operating activities was NOK 190 million (223 million) in the 2nd quarter and NOK 342 million (716 million) in the 1st half of the year.

AF Gruppen has a strong financial position, and the group had net interest-bearing receivables of NOK 300 million (94 million) as at 30 June 2016. 

“I am proud of our employees who continue to deliver solid results in all six business areas. We have project organisations that perform well and facilitate sound and safe operations together with our customers, suppliers and other partners. Solid margins for the quarter and first half of the year provide a good foundation for the future of AF Gruppen,” says Morten Grongstad, CEO of AF Gruppen.

For further information:
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