Norway's AF Gruppen Q2 revenue rises 16%, order backlog hits record
Norway's AF Gruppen Q2 revenue rises 16%, order backlog hits record
Overview
Norway construction group's Q2 revenue rose 16% yr/yr to NOK 9.05 bln
Q2 EPS increased to NOK 2.99 from NOK 2.49 last year
Order backlog reached record high NOK 49.8 bln at quarter-end
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
ACQUISITIONS AND ORGANIC GROWTH - Co said revenue growth was driven by acquisitions and organic expansion, especially in Offshore and Energy and Environment segments
HIGH ACTIVITY LEVELS - Civil Engineering, Energy and Environment, Swedish operations, and Offshore segments reported increased activity and improved results
RECORD ORDER BACKLOG - Co said strong order intake led to a record order backlog at quarter-end
Company press release: ID:nObi4GRsTa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | NOK 9.05 bln | NOK 8.68 bln (2 Analysts) |
Q2 EPS | Beat | NOK 2.99 | NOK 2.44 (2 Analysts) |
Q2 Adjusted Free Cash Flow |
| NOK 221 mln |
|
Q2 Order Backlog |
| NOK 49.77 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", no "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 NOK193.00, about 1.2% below its August 27 closing price of NOK195.40
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago
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(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.)