AF GRUPPEN NORGE AS
Score · fiscal year 2025
54of 100
How to read this: the company is ahead of 58 % of large companies in the same sector in 2025. What does this mean?
Rank: 13,928 of 32,581 · Bygg og anlegg
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 60 and solidity 30 out of 100 among large companies in the same sector in 2025. Methodology
Against the sector
AF GRUPPEN NORGE AS is 2 points above the median for large companies in the same sector in 2025.
Median score 52 among 86 companies.
Against large companies in the same sector in 2025: operating margin 5.1% (median 3.4%) and equity ratio 19.9% (median 26.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 10,113 MNOK | 1,770 MNOK |
| Operating margin | 5.1% | 3.4% |
| Profit margin | 10.4% | 3.8% |
| Return on assets | 7.6% | 7.6% |
| Equity ratio | 19.9% | 26.2% |
| Debt-to-equity | 4.02 | 2.81 |
| Current ratio | 1.22 | 1.22 |
| Revenue growth | 23.2% | 2.4% |
| Revenue per employee | 6.82 MNOK | 5.10 MNOK |
The median and “ahead of” refer to large companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 54, AF GRUPPEN NORGE AS does better than 58% of large companies in the same sector (89 companies) in 2025.
Score 2023–2025
- AF GRUPPEN NORGE AS
- Median: large companies in the same sector
AF GRUPPEN NORGE AS has a score of 54 for 2025, rank 13,928 of 32,581 in the sector.
Strongest: Growth: percentile 81 against peers, revenue growth 23.2% against a median of 2.4%. Profitability: percentile 60 against peers, operating margin 5.1% against a median of 3.4%.
Weakest: Solidity: percentile 30 against peers, equity ratio 19.9% against a median of 26.2%.
Worth a closer look
- What lies behind weak solidity, and will it last?
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
What the numbers say
AF GRUPPEN NORGE AS had an operating margin of 5.1% and an equity ratio of 19.9% in 2025, and ranks 13,928 of 32,581 in Bygg og anlegg.
From 2024 to 2025: revenue grew by 23%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 2,814 MNOK and 8,440 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 8,440 MNOK |
| EV/EBIT | 8.0 | 5,391 MNOK |
| P/B | 1.0 | 2,814 MNOK |
A mechanical estimate from public accounts, not advice. Mechanical estimate from public accounts with fixed multiples. Not a valuation and not advice to buy or sell. The multiples are provisional default values and must be adjusted per sector before the figures are used for anything. See the calculation
Worth a closer look
No rules were triggered for this year.
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.2% of the debt in 2025. The policy rate averaged 4.30 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
Data quality
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 2.4%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 60 | weight 30% |
|---|---|---|
| Solidity | 30 | weight 25% |
| Liquidity | 50 | weight 15% |
| Growth | 81 | weight 15% |
| Consistency | 57 | weight 15% |
Durability: 51 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is AF GRUPPEN NORGE AS?
The operating margin was 5.1% in 2025, against a median of 3.4% among large companies in the same sector. Return on assets was 7.6%.
How solid is AF GRUPPEN NORGE AS?
The equity ratio was 19.9% in 2025 (median 26.2%). Debt-to-equity was 4.02 (median 2.81).
What is the liquidity of AF GRUPPEN NORGE AS like?
The current ratio was 1.22 in 2025 (median 1.22).
How does AF GRUPPEN NORGE AS compare in Bygg og anlegg?
AF GRUPPEN NORGE AS ranks 13,928 of 32,581 in Bygg og anlegg for 2025. Among companies of the same size (large companies) it ranks 38 of 89. Revenue changed by 23.2% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
Read the figures with care: a company in a group can look strong because of group contributions, or weak because dividends go up to the parent. The figures are indications, not the full picture.
We do not show the group structure, because open data does not say who owns whom.
Public contracts
- Contracts awarded since 2024
- 10
- Total awarded value since 2024
- 9,117.4 MNOK
- 2 contracts without a stated value are not in the total.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 17 August 2026 | KYSTVERKET | Stad skipstunnel - prekvalifisering | 5,568.8 MNOK |
| 11 November 2025 | Movar Iks | 25/1315 - Entreprise B2: Bygningsmessige arbeider | 580.0 MNOK |
| 20 October 2025 | Helse Sør-Øst RHF | Kontrakt Entreprise 2311 Tett bygg Somatikk - Nye Aker | 586.6 MNOK |
| 7 October 2025 | HAFSLUND CELSIO AS | Kontraktstildeling delkontrakt 06 Teknisk bygg og fundamenter | 597.9 MNOK |
| 9 September 2025 | Asker kommune | Rehabilitering av Asker rådhus - samspillsentreprise | 62.0 MNOK |
| 17 July 2025 | STATSBYGG | 1199702 Oslo politihus Totalentreprise med samspill - K101 Nybygg - Fase 1 Ny konkurranse | 400.0 MNOK |
| 20 June 2025 | Helse Sør-Øst RHF | Kontrakt 2212 Råbygg J - Nye Rikshospitalet | 1,057.5 MNOK |
| 6 November 2024 | Helse Sør-Øst RHF | Kontrakt Entreprise 2211 Råbygg somatikk base vest - Nye Aker | 264.7 MNOK |
| 1 November 2024 | Forsvarsbygg | C04650 - Ny kontorkapasitet Linderud Leir - Totalentreprise - 100905 | value not stated |
| 2 May 2024 | Nye Veier | E6 Roterud - Storhove | value not stated |
Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.
Source: Doffin (DFØ), fetched 28 October 2026. Winners are matched on organisation number.
Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0
From the Central Coordinating Register
- Org. no.
- 938333572
- Legal form
- AS · part of a group
- Sector
- Bygg og anlegg (42.130)
- Size tier
- large
- Employees
- 1,483 registered 10 October 2026
- Founded
- 5 September 1985 41 years in operation
- Share capital
- 449.38 MNOK
- Business address
- Standardveien 1, 0581 OSLO
- Municipality
- Oslo rank 63–221 of 357 in Norway
- Latest accounts filed
- 2025
- Website
- www.afgruppen.no
- LEI
- 549300VUBRGKB1BIMC67 renews 27 December 2026
Source: Central Coordinating Register, Brønnøysund Register Centre. The employee count is reported by the company and may be older than the accounts. See the company at the Brønnøysund Register Centre
Ownership and roles
- Chief executive
- Amund Tøftum
- Chair of the board
- Morten Grongstad
- Board member
- Kristian Holth
- Board member
- Hilde Wikesland Flaen
- Board member
- Saloume Djoudat
- Board member
- Erik Tømmeraas Veiby
- Board member
- Espen Jahr
- Board member
- Marianne Gjertsen Ebbesen
- Board member
- Anne Marit Harris
- Board member
- Øistein Magnar Andresen
- Board member
- Arne Che Sveen
- Deputy member
- Christian Berg
- Deputy member
- Bjørn Gaare Stokkevåg
- Deputy member
- Hanne Fjeldskår
- Deputy member
- Christina Madeleine Knap
- Deputy member
- Ulf Bernhard Sjöström
- Auditor
- PRICEWATERHOUSECOOPERS AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
Owners and shareholdings will appear here once the shareholder data extract is in place.
Coming · not built yet
Error in the data?
Do you see an error in the figures or in how the company is mapped (sector, holding, group)? Let us know. Corrections require documentation.
Figures last fetched 28 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 50 | 51 | 54 | |
| Rank | 14,753 | 15,401 | 13,928 | |
| Operating margin | 6.5% | 6.3% | 5.1% | |
| Return on assets | 6.7% | 6.3% | 7.6% | |
| Equity ratio | 20.1% | 20.1% | 19.9% | |
| Current ratio | 1.15 | 1.18 | 1.22 | |
| Revenue growth | – | 8.5% | 23.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 7,564.9 MNOK | 8,210.9 MNOK | 10,112.9 MNOK |
| Operating profit | 488.9 MNOK | 520.4 MNOK | 520.4 MNOK |
| Profit before tax | 610.4 MNOK | 685.9 MNOK | 1,047.0 MNOK |
| Net profit | 465.3 MNOK | 529.6 MNOK | 844.0 MNOK |
| Financial expenses | 43.1 MNOK | 27.4 MNOK | 27.9 MNOK |
| Total assets | 9,814.1 MNOK | 11,320.7 MNOK | 14,112.7 MNOK |
| Current assets | 8,777.2 MNOK | 10,219.1 MNOK | 12,944.5 MNOK |
| Equity | 1,968.8 MNOK | 2,279.1 MNOK | 2,813.5 MNOK |
| Retained earnings | – | – | 282.6 MNOK |
| Total liabilities | 7,845.3 MNOK | 9,041.6 MNOK | 11,299.2 MNOK |
| Current liabilities | 7,650.3 MNOK | 8,675.6 MNOK | 10,604.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 6570659.
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