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Investing.com -- Af Gruppen ASA (OL:AFGA) on Friday reported a sharp rise in profit for the second quarter of 2025, with earnings before tax reaching NOK 388 million compared with NOK 21 million in the same period last year.
Revenue for the quarter was NOK 7.81 billion, up from NOK 7.65 billion in the second quarter of 2024.
The profit margin rose to 5% from 0.3%. For the first half of 2025, revenue totaled NOK 14.94 billion, compared with NOK 14.84 billion a year earlier, while earnings before tax increased to NOK 603 million from NOK 207 million.
The Norway-based company reported an order intake of NOK 8.07 billion in the quarter, up from NOK 5.63 billion last year.
The order backlog stood at NOK 44.49 billion as of June 30, compared with NOK 38.25 billion a year earlier.
Net operating cash flow was NOK 580 million, down from NOK 661 million in the second quarter of 2024.
Net interest-bearing debt fell to NOK 263 million at the end of June, from NOK 979 million a year earlier. The equity ratio improved to 21.3% from 19.2%.
Civil Engineering reported revenue of NOK 2.87 billion, compared with NOK 2.40 billion last year.
Earnings before tax were NOK 202 million, up from NOK 154 million, with a profit margin of 7.1% against 6.4% a year earlier.
Construction delivered revenue of NOK 2.38 billion, compared with NOK 2.28 billion, while earnings before tax slipped to NOK 92 million from NOK 97 million, with the margin easing to 3.9% from 4.2%.
Betonmast posted revenue of NOK 918 million, down from NOK 979 million, but raised earnings before tax to NOK 50 million from NOK 19 million, with the margin at 5.5% compared with 2%.
The Property business recorded a loss before tax of NOK 2 million, narrowing from a loss of NOK 4 million in the second quarter of 2024.
Energy and Environment revenue fell to NOK 339 million from NOK 388 million, with earnings before tax at NOK 17 million compared with NOK 21 million a year earlier.
The Offshore unit booked revenue of NOK 282 million, nearly unchanged from NOK 285 million, and posted a loss before tax of NOK 4 million compared with a loss of NOK 241 million last year.
Operations in Sweden reported revenue of NOK 1.23 billion, down from NOK 1.40 billion, but earnings before tax improved to NOK 76 million from a loss of NOK 2 million in the second quarter of 2024. The profit margin rose to 6.2% from negative 0.2% a year earlier.
At the end of June, AF Gruppen’s share closed at NOK 152.80. The return for the first half of the year was 6.5%, compared with a 13.8% return for the Oslo Børs Benchmark Index over the same period.