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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
AF Gruppen
AF Gruppen (AFG) investor relations material
AF Gruppen Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary28 Aug, 2026
Executive summary
Achieved strong revenue growth and profitability in Q2 2026, with record high order backlog and solid financial position.
16% revenue growth year-over-year, supported by high activity across all business areas and notable contract wins and acquisitions.
Diversified portfolio and strategic acquisitions, notably AF Claxton, expanded service offering and geographic reach.
Maintained robust operations and focus on project management and technical expertise.
Financial highlights
Q2 2026 revenue: NOK 9,052 million (up from NOK 7,808 million); H1 2026 revenue: NOK 17,030 million (up from NOK 14,937 million).
Q2 2026 operating profit: NOK 523 million (up from NOK 390 million); H1 2026 operating profit: NOK 846 million (up from NOK 613 million).
Q2 2026 EPS: NOK 2.99 (up from NOK 2.49); H1 2026 EPS: NOK 4.83 (up from NOK 3.76).
Q2 2026 operating margin: 5.8% (vs. 5.0%); H1 2026 margin: 5.0% (vs. 4.1%).
Cash flow from operations: NOK 221 million in Q2 (down from NOK 580 million); H1 NOK 567 million (down from NOK 910 million).
Outlook and guidance
Order intake reached NOK 14,331 million in Q2 and NOK 22,078 million YTD, supporting a robust pipeline.
Order backlog at record NOK 49,765 million as of 30 June 2026, providing visibility for future periods.
Macroeconomic uncertainty persists due to geopolitical tensions, volatile energy prices, and high interest rates.
Civil engineering market expected to see modest growth, while construction and property markets remain subdued with recovery anticipated from 2027.
Offshore market activity remains high, with long-term demand for decommissioning and life extension services.
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Latest events from AF Gruppen
- Project write-downs cut earnings, while the NOK 41,991 million backlog supports activity.AFG
Q4 2023 - Record Q1 revenue and profitability, with strong order backlog and strategic growth moves.AFGQ1 2026
- Record profits and order backlog achieved, with strong segment results and robust liquidity.AFGQ2 2025
- Record results with strong growth, high margins, robust backlog, and increased dividend.AFGQ4 2025
- Record Q3 with strong growth, high order backlog, and solid profitability despite rising costs.AFGQ3 2025
- Profitability and order backlog improved, but high costs and market headwinds persist.AFGQ3 2024
- Earnings fell on offshore losses, but Civil Engineering and cash flow stayed strong.AFGQ2 2024
- Profit, cash flow, and order backlog rose, with higher margins and a proposed dividend increase.AFGQ1 2025
- Strong Q4 results and record order intake drive growth despite market challenges.AFGQ4 2024
Next AF Gruppen earnings date
Q3 202613 Nov, 2026
AF Gruppen
Next AF Gruppen earnings date
Q3 202613 Nov, 2026
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Frequently asked questions
AF Gruppen ASA was incorporated in Norway in 1954. Operating since then as a contracting and industrial company engaged in civil engineering, environment, building, property, energy, and offshore businesses primarily in Norway and Sweden. The Company's segments include Nordic Operations Segment (NO), which is located in Norway and Sweden; Domestic Operations Segment (SE), which is located in Sweden; and Expanded Markets Segment (EM). AF Gruppen ASA is based in Oslo, Norway.