The AF Group posted record results for 2009, with preliminary earnings before tax of NOK 366 million (NOK 308 million).
AF Group had revenues in Q4 of NOK 1,497 million (NOK 1,563 million) and revenues for the full year 2009 of NOK 5,401 million (5,916 million). Preliminary earnings before tax in Q4 were NOK 107 million (NOK 131 million), corresponding to a profit margin of 7.2 % (8.4 %). For the full year 2009 preliminary earnings before tax were NOK 366 million (NOK 308 million), corresponding to a profit margin of 6.8 % (5.2 %). Earnings per share* for 2009 were NOK 3.85 (3.16).
AF Group had a strong cash flow from operations in Q4 of NOK 365 million (NOK 134 million) and NOK 941 million (NOK 402 million) for the full-year 2009.
The Board of Directors’ preliminary dividend proposal for 2009 is NOK 1.60 per share (NOK 1.40).
AF Group gives high priority to health, safety and environment work. The Lost Time Injury Frequency Rate in 2009 for Norwegian operations was 3,1 (2.3), while overall sick leave remained stable at 4,0 % (4.0%). AF Group recently conducted an employee satisfaction survey that understated overall employee satisfaction and AF Groups position as an attractive employer.
”During all of 2009, AF Group delivered high profit and is entering a new year with a solid order backlog. For some business areas 2010 will be a particularly challenging year. We are however cautious optimists. We will continue to focus on developing a sound and strong corporate culture grounded in our fundamental values. 2010 has started well!”, says Pål Egil Rønn, CEO of the AF Group.
*Earnings per share are adjusted for share split implemented on 18 January 2010.
For further information:
Pål Egil Rønn, CEO, mobile +47 909 57 713
Sverre Hærem, CFO, mobile +47 952 45 167
Wibecke Brusdal, Director Corporate Communications, mobile +47 930 93 150
4th quarter 2009: http://www.afgruppen.com/en/Investor-information/Reports-and-presentations/
