Norway's AF Gruppen Q1 revenue rises

Af Gruppen ASA

13/05/2026 06:20

Overview

Norway construction and civil engineering firm's Q1 revenue rose 12% yr/yr

Q1 pretax profit increased 49% yr/yr, with profit margin up to 4.0%

Order backlog remained stable at at quarter-end

Result Drivers

CIVIL ENGINEERING ACTIVITY - High activity and good operations in civil engineering, with several large projects in production, contributed to revenue and profit growth

ENERGY & ENVIRONMENT GROWTH - Revenue growth in Energy and Environment segment, mainly due to acquisitions of AF Elkraft and Brødrene Myhre, supported overall results

SWEDEN OPERATIONS - Swedish operations saw 19% revenue growth, with Kanonaden Mälardalen and AF Härnösand Byggreturer delivering very good results

Company press release: ID:nObiDR33Sa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
NOK 7.98 bln
NOK 7.72 bln (2 Analysts)
Q1 EPS
Beat
NOK 1.84
NOK 1.68 (2 Analysts)
Q1 Pretax Profit
Beat
NOK 318 mln
NOK 281 mln (2 Analysts)
Q1 Adjusted Free Cash Flow
NOK 347 mln
Q1 Order Backlog
NOK 44.49 bln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy."

Wall Street's median 12-month price target for AF Gruppen ASA is NOK201.00, about 16.1% above its May 12 closing price of NOK173.20

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 18 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)