AF Gruppen’s revenues were NOK 8,568 million (8,112 million) in the fourth quarter and NOK 31,205 million (27,868 million) in 2022. Profit before tax was NOK 502 million (635 million) in the fourth quarter and NOK 1,400 million (1,580 million) for 2022. This corresponds to a profit margin of 5.9 per cent (7.8 per cent) in the fourth quarter and 4.5 per cent (5.7 per cent) in 2022. The total order backlog was NOK 39,765 million (38,646 million) as at 31 December 2022.  

AF Gruppen is in a strong financial position. Net operating cash flow was NOK - 38 million (301 million) in the fourth quarter and NOK 1,460 million (1,415 million) for the full year. As at 31 December 2022, AF Gruppen had net interest-bearing debt of NOK 329 million (-29 million). Earnings per share for 2022 were NOK 8.96 (9.60). The Board of Directors proposes a dividend for payment of NOK 6.50 (6.50) per share for the first half of 2023.

"We achieved very good profitability in large parts of the Group during the quarter, particularly within Offshore and Energy and Environment. Civil Engineering reported a double-digit profit margin, and Betonmast showed positive development and achieved a good result for the quarter. The overall profitability for Construction and Sweden was not satisfactory, despite the fact that several units in both business areas delivered very strong results. There was too much variation in the performance of the units, and we are not satisfied with overall profitability in 2022," said Amund Tøftum, CEO of AF Gruppen.

AF imposes the same strict requirements on all its partners and suppliers as it does on its own employees. The goal is zero serious injuries and work-related absence. Figures from subcontractors are included in the injury statistics. The LTI rate for the fourth quarter was 0.9 (0.9). For 2022, the LTI rate was 1.1 (1.1).

AF works in a systematic and targeted manner in order to avoid work-related absence. Sick leave for the fourth quarter was 4.7 per cent (4.9 per cent). For 2022, sick leave was 4.6 per cent (4.6 per cent).

“In 2022, we entered into contracts for several large, complex projects with high social benefit. Among other things, AF Gruppen has been awarded two contracts from Oslo Municipality related to new water supply in Oslo, and we are working on several wind power projects in Sweden. We have been chosen as the contractor for a new airport in Mo i Rana, for which we are still in the collaboration phase. We have also entered into an agreement to construct a new cable tunnel in Oslo for Statnett, and we perform projects within construction and rehabilitation to reuse and refine existing buildings. These projects will enable us to use our expertise and abilities to execute challenging projects. These projects are important to ensurethat we continue to attract, develop and retain the industry's best management and professional expertise," Tøftum said.