AF Gruppen

Earnings Release • May 4, 2023

AF Gruppen adjusts project estimates in Sweden

AF Gruppen adjusts project estimates in Sweden

AF Gruppen makes further negative adjustments of project estimates in its Swedish operations. The projects are revised downwards by around NOK 230 million and the adjustments are related to the business units in former Betonmast Sweden.

Of a total order backlog of NOK 7,645 million per 31. March 2023 for the business area Sweden, the order backlog for the abovementioned companies is NOK 2,097 million. Remaining production value in loss making projects in former Betonmast Sweden is NOK 940 million.

AF Gruppen expects to report a slightly positive operating profit for Q1 2023.

For further information:

Amund Tøftum, CEO, tel.: +47 920 26 712

Anny Øen, CFO, tel.: +47 982 23 116

AF Gruppen will release its 1st quarter results 2023 on May 12 at 07:00 am CET.