AF Gruppen
AF Gruppen ASA is a publicly listed Norwegian construction and industrial group operating through specialized subsidiaries across Norway, Sweden, and the UK, delivering infrastructure, building, energy, offshore decommissioning, and environmental services to public and private sector clients.
- Company typePublic
- Founded1985
- HeadquartersOslo, Norway
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What AF Gruppen does
AF Gruppen ASA is a publicly listed Norwegian construction and industrial group (Oslo Børs: AFG) founded in 1985, operating through a decentralized holding structure of specialized subsidiaries across Norway, Sweden, the United Kingdom, and selected international markets. The group generated NOK 31,992 million in revenue for fiscal year 2025 with earnings before tax of NOK 1,653 million (up from NOK 1,090 million in 2024), and employs approximately 6,000 people. Operations are organized around six service divisions: AF Anlegg (infrastructure and tunneling), AF Bygg (building construction), AF Energi (energy services), AF Offshore/AF Decom (offshore services and decommissioning), AF Eiendom (property development), and Miljø (environmental services), supplemented by approximately 25 specialized subsidiaries including Betonmast, Strøm Gundersen, AF Byggfornyelse, JR Anlegg, Målselv Maskin & Transport, and the recently acquired Claxton and H.A. Bygg Entreprenad AB.
The group's service portfolio spans road and rail construction, tunneling and underground works, airport infrastructure, residential and commercial building construction, rehabilitation and renovation, energy efficiency retrofits, district heating and cooling systems, offshore decommissioning, offshore wind services, HVAC, and environmental remediation. Major ongoing projects include the Stad Ship Tunnel (NOK 5.6 billion contract with the Norwegian Coastal Administration for detail-design and construction, described as the world's first ship tunnel for full-sized vessels), the new Mo i Rana airport for Avinor (NOK 3.3 billion), and the Fornebu Sør residential development for OBOS (NOK 2 billion, approximately 510 apartments). AF Gruppen has demonstrated capability in BREEAM-NOR-certified construction, with the Parkgata 8-10 project in Gjøvik achieving the Outstanding rating under BREEAM-NOR version 6.0, and operates zero-emission construction equipment across project sites. The company has deployed AI-powered cost estimation, progress monitoring, resource management, and risk prediction tools, reporting a 15% cost reduction on a NOK 5.6 billion Oslo highrise project.
Revenue is generated primarily through project-based construction contracts awarded via competitive tendering, with both public sector clients (Avinor, the Norwegian Coastal Administration, the Norwegian Public Roads Administration, Bærum municipality, FREVAR KF, OUS HF Radiumhospitalet) and private developers and corporates (OBOS, Equinor, Hafslund Celsio, Aspelin Reitan). Pricing is project-specific with multi-year durations on major infrastructure contracts, and no standardized price list is published as each contract is individually bid. Approximately half of AF Gruppens 6,000 employees participate in an employee share ownership program holding shares worth over NOK 2 billion in aggregate. Recent strategic actions include the 2026 acquisition of UK-based Claxton (offshore decommissioning, GBP 63.5 million from Acteon Group) and Swedish concrete contractor H.A. Bygg Entreprenad AB (70% stake, MSEK 140), a circularity partnership with Sirken AS for reuse of building materials, and a training partnership with Fagskolen Oslo for technical workforce development.
AF Gruppen firmographics
Firmographics- Name
- AF Gruppen
- Legal name
- AF Gruppen ASA
- Website
- https://afgruppen.no
- Company type
- Public
- Founded year
- 1985
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- AF Gruppen ASA is a publicly listed Norwegian construction and industrial group operating through specialized subsidiaries across Norway, Sweden, and the UK, delivering infrastructure, building, energy, offshore decommissioning, and environmental services to public and private sector clients.
- Ownership category
- akta.pro rank
AF Gruppen industry classification
Industry- Product category
- Construction Services
- NAICS
- Commercial and Institutional Building Construction (236220), Nonresidential Building Construction (2362), Power and Communication Line and Related Structures Construction (237130)
- SIC
- Heavy Construction Other Than Bldg Const - Contractors (1600), General Bldg Contractors - Nonresidential Bldgs (1540)
- akta.pro primary industry
- Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ)
- akta.pro secondary industries
- Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA), Environmental & Permitting Compliance During Construction (Erosion Control, Wildlife Mitigation, Monitoring) (EUAMAFAM)
Keywords
Where AF Gruppen is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices4 records
Markets served
AF Gruppen business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure
Revenue model
- Construction and infrastructure contracts: AF Gruppen generates the majority of revenue through project-based construction contracts with public and private clients, including infrastructure projects, building construction, and specialized construction services.
- Major infrastructure projects: The company secures large-scale infrastructure contracts such as the Stad Ship Tunnel (NOK 5.6 billion), offshore wind projects, and major public works.
- Offshore decommissioning and services: Through the Claxton acquisition and AF Offshore Decom division, the company provides offshore decommissioning, engineering services, and wind farm services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Construction and infrastructure projects |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
AF Gruppen product offering
Product offeringCore offering
AF Gruppen is a Norwegian construction and industrial group that builds and renovates residential and commercial structures, roads, bridges, tunnels, and onshore facilities through specialized subsidiaries. The company also provides offshore decommissioning, energy services, property development, and environmental remediation. It operates as a holding company of independent subsidiaries across Norway and Sweden, executing large-scale infrastructure and building projects for public and private sector clients.
Product overview
AF Gruppen is a Norwegian construction and industrial group organized as a holding company of independent subsidiaries operating across Norway and Sweden. The company operates through multiple specialized divisions: AF Anlegg (infrastructure and tunnelling), AF Bygg (building construction), AF Energi (energy services), AF Offshore (offshore services including decommissioning), AF Eiendom (property development), and Miljø (environmental services). Key subsidiaries include AF Byggfornyelse (rehabilitation and renovation), AF Bygg Oslo, LAB Entreprenør, JR Anlegg (machine contracting), Målselv Maskin & Transport, AF Bygg Syd/Öst/Väst (regional Swedish operations), Kanonaden Entreprenad, AF Decom, AF Offshore Decom, AF Energi, AF Elkraft, Betonmast, and Brødrene Myhre. The company also has recent acquisitions including Claxton (UK offshore decommissioning services) and H.A. Bygg (Swedish concrete contractor). Major projects include the Stad Ship Tunnel, new airport in Mo i Rana, Construction City in Oslo, wastewater treatment plants, and various building projects. The company is listed on Oslo Børs (AFG) with revenues of MNOK 31,992 in 2025 and approximately 6,000 employees.
Differentiator
Problem solved
Functional benefit
Products and services
- AF Anlegg - Infrastructure and Tunnelling
Quantifiable outcome
- 15% cost reduction on $560 million highrise project through AI implementation
- +3 more outcomes
Companies that use AF Gruppen
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles3 records
AF Gruppen technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
AF Gruppen partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and flagship.
- Sirken AScoreAF Gruppen entered a group-wide agreement with Sirken AS, a nationwide marketplace for reused building materials. The partnership supports AF Gruppens strategic goal to increase circularity, with Sirken providing a platform for buying and selling used construction materials 24/7. AF Anlegg's airport project in Mo i Rana is the first project participating in the partnership.
- Fagskolen OslocoreAF Energi and Fagskolen Oslo developed Teknikerakademiet, a targeted competence program for skilled workers. The program consists of six customized modules combining theory and practice within the energy field. The partnership allows employees to earn study credits toward higher vocational education.
- Construction CityflagshipConstruction City is a business cluster bringing together the construction, infrastructure, and real estate industry in Norway. AF Gruppen and Betonmast formed a joint venture (work community) to construct the 103,000 sqm office building. AF Gruppen and Fagskolen Oslo are co-located in Construction City on Ulven in Oslo.
- AvinorflagshipAF Gruppen signed a collaboration contract with Avinor for the construction of a new airport in Mo i Rana. The project includes terminal buildings, runways, and associated infrastructure with a budget of NOK 3.3 billion. Rambøll Norge and LPO Arkitekter are involved as advisors.
- OBOSflagshipAF Gruppen and OBOS are collaborating on Fornebu Sør, a major residential development project with approximately 510 apartments valued at NOK 2 billion. The collaboration is structured as a collaboration contract moving toward total contract.
Scale indicators13 records
Recent moves6 records
Expansion highlights6 records
AF Gruppen competitors and assessment
Company assessmentDirect peers
- Peab AB: Swedish construction and civil engineering group with significant Norwegian operations. Competes directly with AF Gruppen in building construction, civil works, and Nordic infrastructure projects, with similar size and decentralized subsidiary model.
- YIT Oyj: Finnish construction company focused on residential, commercial, and infrastructure projects in the Nordics, Baltics, and Central Europe. Comparable in building construction scale and Nordic market focus.
- NCC AB: Swedish construction and property development company with strong Nordic presence in building, infrastructure, and asphalt/aggregates. Comparable to AF Gruppen in civil engineering and commercial building operations across Norway and Sweden.
- Skanska AB: Swedish-headquartered construction and project development group with operations across the Nordics, Europe, and the US. Closely comparable to AF Gruppen in scale (~SEK 160B+ revenue), decentralized model, public infrastructure focus, and sustainability leadership.
- Veidekke ASA: Norwegian construction and civil engineering contractor and property developer. Direct domestic peer to AF Gruppen, competing for the same Norwegian public tenders (Statens Vegvesen, Avinor, municipalities) with overlapping building and infrastructure divisions.
- Betonmast (historical AF Gruppen division context) / Betonmast AS: Norwegian general contractor for residential, commercial, and public buildings. Note: Betonmast is now part of AF Gruppen (joint venture Construction City); included as a peer reference for the Norwegian building construction market.
Broad incumbents
- Hochtief AG: German-based global construction and infrastructure group with significant tunneling and civil engineering capabilities (including delivery of complex Nordic-adjacent projects). A larger incumbent with comparable heavy civil expertise.
- Strabag SE: Austrian-based European construction group with extensive tunneling, infrastructure, and building operations. Comparable in heavy civil construction expertise and Nordic-adjacent project experience.
Emerging players
- Heerema Marine Contractors: Dutch-based offshore contractor with significant North Sea decommissioning and offshore wind installation capabilities. Comparable to AF Gruppen's expanding offshore decommissioning segment post-Claxton.
- Aker Solutions ASA: Norwegian energy services and offshore engineering company with decommissioning capabilities overlapping with AF Offshore Decom and the newly acquired Claxton business. Adjacent peer in offshore energy services.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat2 records
Key risks5 records
Key highlights7 records
Customer concentration
AF Gruppen social profiles
Digital presenceAF Gruppen financial estimates
Financial estimateRevenue estimate
Valuation estimate
AF Gruppen leadership team
Management profileNumber of profiles
Profiles8 records
AF Gruppen subsidiaries and ownership
Company hierarchySubsidiaries28 records
AF Gruppen funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AF Gruppen M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AF Gruppen
What does AF Gruppen do?
AF Gruppen is a Norwegian construction and industrial group that builds and renovates residential and commercial structures, roads, bridges, tunnels, and onshore facilities through specialized subsidiaries. The company also provides offshore decommissioning, energy services, property development, and environmental remediation. It operates as a holding company of independent subsidiaries across Norway and Sweden, executing large-scale infrastructure and building projects for public and private sector clients.
Is AF Gruppen a public or private company?
AF Gruppen is a public company. It is classified as public and is currently operating.
When was AF Gruppen founded?
AF Gruppen was founded in 1985. It employs 5,001 to 10,000 people.
Where is AF Gruppen based?
AF Gruppen is headquartered in Oslo, Norway, in the Europe region.
How does AF Gruppen make money?
Three revenue lines are on record. Construction and infrastructure contracts are the primary driver. The others are major infrastructure projects and offshore decommissioning and services.
Who are AF Gruppen's main competitors?
Direct peers on record are Peab AB, YIT Oyj, NCC AB, Skanska AB, Veidekke ASA and Betonmast (historical AF Gruppen division context) / Betonmast AS. Broad incumbents are Hochtief AG and Strabag SE. Emerging players are Heerema Marine Contractors and Aker Solutions ASA.
Does AF Gruppen have an API?
No public API is recorded for AF Gruppen.
What industry is AF Gruppen in?
AF Gruppen's product category is Construction Services. Its primary akta.pro industry code is EUAMAFAJ, Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE), with a secondary code of EUAEADAA, Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations). Its NAICS code is 236220 and its SIC code is 1600.