AF Gruppen Q1 Profit Before Tax Surges With Strong Order Backlog

(RTTNews) - Construction and engineering company AF Gruppen (AGRUF, AFG.OL), on Thursday, reported Q1 earnings per share of NOK 1.27, slightly down from NOK 1.30 in the previous year. Q1 revenues totaled NOK 7,129 million, versus NOK 7,187 million generated a year ago, with a profit before tax of NOK 214 million, marking an increase compared to NOK 186 million in the same quarter of last year.

AF Gruppen's profit margin rose to 3.0%, compared to 2.6% in the previous year. The order backlog expanded significantly, reaching NOK 44,232 million, an increase of nearly NOK 4 billion from the previous quarter.

CEO Amund Tøftum highlighted the positive financial trajectory, stating, "AF Gruppen has improved its profitability, strengthened its order backlog, and maintained a healthy cash flow this quarter. Although profitability improved across several business areas, the Civil Engineering sector was impacted by NOK 100 million in shutdown and termination costs."

AF Gruppen remains financially strong, with cash flow from operating activities reaching NOK 330 million, significantly higher than NOK 128 million in Q1 2024. The company's net interest-bearing receivables stood at NOK 290 million, compared to NOK -974 million last year.