Ability to Succeed
ABILITY TO SUCCEED ANNUAL REPORT 2020 AF Gruppen is a leading contracting and industrial group that was formed by an entrepreneurial spirit and the ability to succeed. We provide services in the areas of Civil Engineering, Construction, Energy, Environment, Property and Offshore, primarily in Norway and Sweden. AF creates value for its employees, customers and owners, and we contribute at the same time to solving important social challenges. In brief, we clear the past and build for the future. 2020 marked the end of a strategy period with major growth ambitions. The revenue target of NOK 20,000 million within 2020 was already achieved in 2019, and the collection of companies in the AF Group has become ever larger. AF Gruppen aims to the Nordic region's most profitable contractor by preserving and strengthening the foundation of AF Gruppen: a value-based corporate culture and an uncompromising attitude to health, safety and ethics. New ambitious goals have been set for the next strategy period up to 2024. Our objective to reach a revenue of NOK 40,000 million and achieve an operating margin of 7 per cent. To get there, we will continue to attract and develop the best people, maintain pressure on innovation and digitalisation, and develop new services. REVENUES EBIT OPERATING MARGIN NOK MILLION NOK MILLION 5.5% 27,025 1,480 EQUITY RATIO LTI-1 RATE 27.2% 1.8 FRONT PAGE: FROM THE RESIDENTIAL PROJECT, VANNKUNSTEN, IN BISPEKVIKA. PHOTO: HANS FREDRIK ASBJØRNSEN KEY FIGURES REVENUES (NOK MILLION) EARNINGS BEFORE INTEREST AND TAXES (NOK MILLION)
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