Who Owns Af Gruppen Company?

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Who Really Owns AF Gruppen?

Unraveling the Af Gruppen SWOT Analysis is just the beginning; understanding its ownership structure is key to grasping its strategic maneuvers and future potential. Founded in 1985, AF Gruppen has evolved significantly since its Oslo Stock Exchange listing in 1997, transforming from a privately held entity to a publicly traded company. This shift has profoundly impacted its stakeholders, influencing everything from its financial performance to its corporate governance.

This exploration of AF Gruppen's ownership will provide a comprehensive look at its Af Gruppen ownership and Af Gruppen stakeholders, from its founders to its current major shareholders. We'll examine the Af Gruppen company profile, including its Af Gruppen history and Af Gruppen management structure, offering insights into how these elements shape its operational strategies. Discover who are the Af Gruppen major shareholders and understand the dynamics of its Af Gruppen ownership structure breakdown.

The story of Af Gruppen began in 1985, thanks to the vision of Leif Jørgen Moger and Per Aftreth. They started the company with a NOK 20 million credit line. This marked the beginning of what would become a significant player in the construction industry.

Right from the start, the founders aimed to include employees in the company's ownership. This approach has remained a core part of Af Gruppen's identity. The initial projects, like the construction of Dam Dokkfløyvatn, demonstrated the company's early capabilities.

While the exact initial ownership percentages of the founders and early investors are not publicly detailed, the emphasis on employee co-ownership suggests a distributed ownership model from the outset. This approach set Af Gruppen apart in the industry.

Founders

Leif Jørgen Moger and Per Aftreth founded Af Gruppen in 1985.

Initial Capital

The company launched with a credit line of NOK 20 million.

Early Projects

Completed two large construction contracts in the first year.

Employee Co-ownership

A key goal was to involve employees in the company's ownership.

First Project

The construction of Dam Dokkfløyvatn was the first project.

Ownership Model

The company had a distributed ownership model from the beginning.

Key Takeaways

Understanding the early ownership structure of Af Gruppen provides insights into its long-term strategy and values. The emphasis on employee co-ownership, from the start, has likely influenced the company's culture and approach to business. This is a key aspect of the Af Gruppen ownership structure, distinguishing it from many competitors. The company's history shows a commitment to a shared ownership model, which has been a part of its identity since its founding.

• Founded in 1985 by Leif Jørgen Moger and Per Aftreth.
• Initial capital of NOK 20 million.
• Employee co-ownership was a core objective.
• First project was the construction of Dam Dokkfløyvatn.
• Focus on distributed ownership.

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The evolution of AF Gruppen's ownership reflects its journey from a privately held entity to a publicly traded company. The pivotal moment came in 1997 when it was listed on the Oslo Stock Exchange. This move significantly impacted the company's structure, transitioning it into a more professionalized and transparent organization. This shift opened the door for broader investor participation and marked a new phase in its corporate governance.

As a publicly listed entity, the Marketing Strategy of Af Gruppen has been influenced by its diverse shareholder base. The ownership structure now includes a mix of private companies, the general public, sovereign wealth funds, institutional investors, and individual insiders. This diversification has played a crucial role in shaping its strategic direction and financial stability, allowing it to adapt to market changes and pursue growth opportunities.

Among the top 25 shareholders, who collectively own 67.77% of the company, OMF Holding AS is a major stakeholder. OBOS BBL held an 18.44% stake in 2017. Constructio AS, where board member Kristian Holth is CEO, owned 14.03% of AF Gruppen ASA as of 2017. The financial strength is supported by credit facilities, including a NOK 2 billion credit line with DNB and a NOK 1.5 billion sustainability-linked credit facility with Handelsbanken, established in fall 2023. These shifts in major shareholding reflect the company's growth and its engagement with both strategic and public investors, influencing its governance and strategic direction.

Key Takeaways on Af Gruppen Ownership

The ownership structure of AF Gruppen is diverse, with private companies holding the largest share.

• The company's listing on the Oslo Stock Exchange in 1997 marked a significant shift.
• Major stakeholders include OMF Holding AS, OBOS BBL, and Constructio AS.
• Financial backing from credit facilities strengthens the company's position.
• The ownership structure influences governance and strategic direction.

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The governance of AF Gruppen ASA is structured around a General Meeting, which holds the highest authority and elects the Board of Directors. The Board comprises between four and ten members, with the Chair also elected by the General Meeting. Employee representation on the board is enhanced through an agreement that bypasses the need for a corporate assembly.

As of May 2025, the Chair of the Board is Morten Grongstad, who has held this position since 2023 and also chairs the Competence and Remuneration Committee. Anne Harris joined the board in 2025, bringing expertise in economics and finance. Erik Veiby, a working Board Member of Nordic Concrete Group AS and Chair of the Board of Kongsvinger Betong AS, is connected to Vito Kongsvinger AS and KB Gruppen Kongsvinger AS, which collectively own 1,824,240 AF shares. Morten Grongstad himself owns 25,000 AF shares.

AF Gruppen's voting structure is straightforward, with a single class of shares providing equal voting rights to all shareholders. The General Meeting is responsible for approving key financial matters, including financial statements, annual reports, and dividend distributions. The Board of Directors is encouraged to hold shares in AF Gruppen, and their holdings are disclosed in the annual accounts. For more details on the company's background, you can read the Brief History of Af Gruppen.

Key Aspects of Af Gruppen Ownership

The General Meeting elects the Board, which oversees operations. The voting structure ensures all shareholders have equal rights, influencing Af Gruppen's ownership. Board members' shareholdings are disclosed, promoting transparency.

• The General Meeting elects the Board of Directors.
• Shareholders have equal voting rights.
• Board members' shareholdings are disclosed.
• Employee representation is enhanced.

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Over the past few years, focusing on the construction and real estate sectors, AF Gruppen has shown consistent financial activity that has influenced its ownership structure. For 2024, the company reported revenues of NOK 30,638 million and earnings before tax of NOK 1,085 million, achieving a profit margin of 3.5%. The order backlog increased to NOK 44,232 million as of March 31, 2025, from NOK 40,351 million at the end of 2024. This positive performance is a key factor in understanding the company's stability and future prospects, influencing investor confidence and ownership dynamics.

AF Gruppen has actively managed its shares through buyback programs. Two share buyback programs were initiated in February and September 2024, aiming to repurchase up to 100,000 and 200,000 shares, respectively. As of March 2025, the 6-Month Share Buyback Ratio was -0.78%, indicating ongoing share repurchase activity. The Board of Directors proposed a dividend of NOK 5.00 per share for the first half of 2025. These actions reflect the company's commitment to returning value to shareholders and managing its capital structure, which are important factors for understanding the competitive landscape and ownership trends.

Industry trends suggest that construction companies are often seeing increased institutional ownership. AF Gruppen's ownership structure is also marked by employee co-ownership, with employees holding approximately 10% of the company. The company's focus on value creation and environmental sustainability, aiming to reduce its footprint by 2028, further shapes its profile. The management's optimism about future growth, despite economic uncertainties, is also a key factor in understanding the company's ownership dynamics and stakeholder interests.

Who Owns AF Gruppen?

The ownership of AF Gruppen involves a mix of institutional investors, individual shareholders, and employee ownership. Employee ownership, at about 10%, is a notable aspect. The company's structure supports both financial performance and stakeholder engagement.

Share Buyback Programs

AF Gruppen has actively engaged in share buyback programs to support its employee incentive and share purchase schemes. These programs show the company's commitment to returning value to shareholders. The programs also help manage the company's capital structure.

Financial Performance

AF Gruppen reported revenues of NOK 30,638 million and earnings before tax of NOK 1,085 million for 2024. The order backlog increased to NOK 44,232 million as of March 31, 2025. These figures reflect the company's growth and financial health.

Dividend and Future Outlook

The Board of Directors proposed a dividend of NOK 5.00 per share for the first half of 2025. The company is focused on value creation and reducing its environmental footprint by 2028. Management is optimistic about future growth.

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