At AF, we strive to be reliable and trustworthy. For almost 40 years, we have been loyal to our values and our business idea. This has been crucial for successfully
implementing an increasing number of socially beneficial projects. The people at AF create value, with active risk management, decentralised decision-making authority,
and a value-based culture as key building blocks. It is inspiring to see how the entrepreneurial spirit is present in our everyday projects and how the building blocks
are transformed into action through engaged leadership and adherence to our values. Experience shows that our best teams are highly skilled, but in 2024, the gap in
performance across the Group has been too wide.
At AF, we not only measure financial performance – we also prioritise the safety of everyone working at AF. We include our own employees and our subcontractors in the safety statistics. Health and safety work is an important part of the AF culture, and we can look back on a year with excellent safety performance. At the same time, we know that safety cannot be taken for granted, and we must work systematically every day to ensure that
everyone working in and for AF returns home safely.
The strategic period from 2021 to 2024 has proven to be challenging, and it is impossible to summarise the last four years without mentioning how external factors have affected us. We are lucky to have skilled people who have been able to adapt and mobilise extra effort.
Despite this, we have not achieved our goals of a revenue of NOK 40 billion and a 7 per cent operating margin. The main direction we have worked towards and the goal of
profitable growth remain key focuses as we move into a new strategic period. Our adaptability and capability to implement ensure that AF is well-positioned for what the
future holds.
Throughout 2024, a new corporate strategy has been developed, and the common priorities in the strategy will make us even better at creating value in the future. There
are several external forces influencing AF’s development, but our identity through values, vision and business model remains strong and is more relevant than ever. We will continue to clear up the past and build for the future, and the goal of achieving a 7 per cent operating margin remains unchanged. By 2028, we also aim for an annual growth of 7 per cent. The goal of zero serious personal injuries and work-related absence is a prerequisite for profitable growth at AF. In addition, we are setting a new main goal to halve our climate and environmental footprint, while striving to reach even more ambitious climate and environmental targets.
To reach our goals, we will continue to work on innovation, leadership and expertise. We will continue to build the best teams that are characterised by performance, job satisfaction and professional pride. AF will execute the industry’s best project management by adhering to our core principles. At the same time, we must strengthen the part of AF’s culture that focuses on adaptability and to deliver projects that render value both
to our customers and to society.
Uncertain times and turbulent markets will continue to affect the industry and the world at large. At AF, we must look to our own performance to find the key to future value creation. With a robust order backlog and the best people on our team, AF is entering a new and
exciting strategic period, maintaining a steady course toward increased profitability. Together, we will continue to clear up the past and build for the future
