At AF, we live by and for our projects. It is inspiring to see the effort being put in, and how the entrepreneurial spirit shapes everyday project life. Every year, AF Gruppen has more than 2,000 active projects, and the sum of these performances resulted in good results and strong cash flow in 2025.
Safety work is part of the AF culture, and we include both our own employees and our subcontractors in the safety statistics. 2025 was yet another year with very high safety performance. This positive development is linked to present leadership, shared frameworks for solid HSE work, and the exchange of experience and competence. Safety is perishable, and we will continue to work systematically to ensure that everyone working for us returns home safely every day.
To increase competitiveness, we will continue to strengthen project management and specialist competence, both within our core business and through structural growth. In today’s macro environment, marked by high geopolitical uncertainty and a demanding market situation, we have seen the strength of having a diversified portfolio. We continuously seek growth opportunities to remain a partner that creates value for our customers. Together, we will address societal challenges, clearing up the past and building for the future.
In day‑to‑day project work, it is not uncommon to face headwinds. When that happens, we stand shoulder to shoulder and deliver on the assignments our clients have entrusted to us. In the first quarter of last year, the Swedish Transport Administration terminated the contract for E4 Förbifart Stockholm. Despite a challenging situation, the AF organisation demonstrated that we take responsibility and seek solutions. We aim to be reliable.
We will continue building the best teams — teams that perform at a high level, take pride in their craft and enjoy their work. It is the people of AF who create value, supported by active risk management, decentralised decision‑making authority and a value‑based culture. This year’s employee survey shows high overall satisfaction and a working environment characterised by motivation, professional pride and a willingness to learn. This provides a strong starting point in a time of tough competition and uncertainty in both demand and supply chains.
It is in our DNA to pursue large and challenging projects with risks we can influence. In our portfolio, there is a clear shift towards major projects. Productivity and performance in our best projects are at a level that truly impresses me. At the same time, we must continuously develop and improve. Entering 2026, we bring with us the experience, results and learning from a year that has demonstrated what is possible when the best teams bring out the best in each other. Looking ahead, a resilient financial position and a solid order backlog, AF is well equipped for continued profitable growth.
