In a stock exchange announcement on Thursday evening, AF Gruppen appears to have changed the profit estimate for one of the company’s offshore projects.
The change is around NOK 250 million and is linked to a project in the Netherlands. The project was previously scaled down in the second half of 2023.
Despite the downward adjustment, AF Gruppen expects a slightly positive result before taxes for the second quarter of 2024.
Increased operating profit
– AF Gruppen improves the result compared to last year, but we are not satisfied with the overall profit. We deliver high growth and good results in Construction as well as in the Energy and Environment industry. The order reserve is kept at a high level considering the market we are in, says Amund Tøftum, CEO of the AF Gruppen Group.
AF Gruppen had a turnover in the first quarter of NOK 7.2 billion – down from last year’s NOK 7.4 billion.
However, the operating result increased significantly to 201 million from 15 million last year. This is a significant increase of 1,240 percent and comes as a result of lower costs for subcontractors.
Profit before taxes was 186 million, an improvement from 13 million from the corresponding quarter in 2023. In the first three months of the year, the group had very good revenue growth within Construction and in- take a strict order within Construction.
2024-08-22 19:12:46
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