AF Gruppen Management

Management criteria checks 1/4

AF Gruppen's CEO is Amund Tøftum, appointed in Aug 2020, has a tenure of 4.25 years. directly owns 0.14% of the company’s shares, worth €1.77M. The average tenure of the management team and the board of directors is 4.3 years and 2.5 years respectively.

Key information

Amund Tøftum

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	4.3yrs
CEO ownership	0.1%
Management average tenure	4.3yrs
Board average tenure	2.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Amund Tøftum's remuneration changed compared to AF Gruppen's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	NOK 508m
Jun 30 2024	n/a	n/a	NOK 353m
Mar 31 2024	n/a	n/a	NOK 546m
Dec 31 2023	n/a	n/a	NOK 402m
Sep 30 2023	n/a	n/a	NOK 596m
Jun 30 2023	n/a	n/a	NOK 705m
Mar 31 2023	n/a	n/a	NOK 806m
Dec 31 2022	NOK 11m	NOK 4m	NOK 958m
Sep 30 2022	n/a	n/a	NOK 1b
Jun 30 2022	n/a	n/a	NOK 1b
Mar 31 2022	n/a	n/a	NOK 1b
Dec 31 2021	NOK 9m	NOK 4m	NOK 1b
Sep 30 2021	n/a	n/a	NOK 1b
Jun 30 2021	n/a	n/a	NOK 1b
Mar 31 2021	n/a	n/a	NOK 1b
Dec 31 2020	NOK 6m	NOK 2m	NOK 971m
Sep 30 2020	n/a	n/a	NOK 767m
Jun 30 2020	n/a	n/a	NOK 749m
Mar 31 2020	n/a	n/a	NOK 840m
Dec 31 2019	NOK 5m	NOK 2m	NOK 854m
Sep 30 2019	n/a	n/a	NOK 899m
Jun 30 2019	n/a	n/a	NOK 886m
Mar 31 2019	n/a	n/a	NOK 782m
Dec 31 2018	NOK 4m	NOK 2m	NOK 772m
Sep 30 2018	n/a	n/a	NOK 727m
Jun 30 2018	n/a	n/a	NOK 647m
Mar 31 2018	n/a	n/a	NOK 667m
Dec 31 2017	NOK 5m	NOK 2m	NOK 621m

Compensation vs Market: Insufficient data to establish whether Amund's total compensation is reasonable compared to companies of similar size in the German market.

Compensation vs Earnings: Amund's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Amund Tøftum (46 yo)

4.3yrs

Tenure

NOK 11,219,000

Compensation

Mr. Amund Tøftum serves as Chief Executive Officer of AF Gruppen ASA since August 24, 2020. Mr. Tøftum has served as Executive Vice President of Offshore at AF Gruppen ASA since January 1, 2016 until Augus...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Anny Øen	Executive VP & CFO	2.2yrs	NOK 3.55m	0.033% € 423.5k
Bård Frydenlund	Executive Vice President of Sweden	5.8yrs	NOK 3.43m	0.18% € 2.3m
Tormod Solberg	Executive Vice President of Construction	4.2yrs	NOK 3.57m	0.057% € 744.3k
Eirik Wraal	Executive Vice President of Environment & Energy	8.8yrs	NOK 3.52m	0.037% € 484.0k
Lars Hjelmeset	Executive Vice President of Offshore	2.2yrs	NOK 3.20m	0.034% € 447.3k
Amund Tøftum	Chief Executive Officer	4.3yrs	NOK 11.22m	0.14% € 1.8m
Knut Ekern	Communication Director	no data	no data	0.0079% € 102.2k
Kelly Fusner	Chief Underwriting Officer	4.4yrs	no data	no data
Geir Flata	Executive Vice President of Civil Engineering & Property	5.7yrs	NOK 5.88m	0.0023% € 29.7k

4.3yrs

Average Tenure

48yo

Average Age

Experienced Management: AF8's management team is considered experienced (4.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Hege Bomark	Director	12.5yrs	NOK 408.00k	no data
Morten Grongstad	Chairman of the Board	1.5yrs	no data	0.023% € 298.1k
Kristian Holth	Director	8.5yrs	NOK 424.00k	no data
Saloume Djoudat	Director	3.5yrs	NOK 389.00k	no data
Hilde Flaen	Director	no data	NOK 288.00k	no data
Erik Veiby	Director	2.5yrs	NOK 408.00k	no data
Hilde Herud	Director	2.5yrs	no data	no data
Marianne Gjertsen	Director	1.5yrs	no data	no data
Espen Jahr	Director	2.5yrs	NOK 288.00k	no data
Rene Kristensen	Director	less than a year	no data	no data

2.5yrs

Average Tenure

51yo

Average Age

Experienced Board: AF8's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.

AF Gruppen Management

Management criteria checks 1/4

Key information

Recent management updates

AF Gruppen ASA, Annual General Meeting, May 15, 2025

AF Gruppen ASA, Annual General Meeting, May 15, 2024

No independent directors

AF Gruppen ASA, Annual General Meeting, May 12, 2023

AF Gruppen Announces Management Changes

No independent directors

Recent updates

Third quarter 2024 earnings released: EPS: kr1.85 (vs kr0.43 in 3Q 2023)

Now 20% overvalued after recent price rise

AF Gruppen ASA (OB:AFG) commences an Equity Buyback Plan, under the authorization approved on May 15, 2024.

Second quarter 2024 earnings released: kr0.07 loss per share (vs kr1.72 profit in 2Q 2023)

AF Gruppen ASA, Annual General Meeting, May 15, 2025

AF Gruppen ASA to Report Fiscal Year 2024 Results on Apr 11, 2025

New major risk - Revenue and earnings growth

Upcoming dividend of kr3.50 per share

Full year 2023 earnings released: EPS: kr3.73 (vs kr8.96 in FY 2022)

Dividend of kr3.50 announced

Full year 2023 earnings released: EPS: kr3.73 (vs kr8.96 in FY 2022)

Third quarter 2023 earnings released: EPS: kr0.43 (vs kr1.46 in 3Q 2022)

Second quarter 2023 earnings released: EPS: kr1.72 (vs kr2.67 in 2Q 2022)

AF Gruppen ASA, Annual General Meeting, May 15, 2024

AF Gruppen ASA to Report Q3, 2023 Results on Nov 10, 2023

First quarter 2023 earnings released: kr0.03 loss per share (vs kr1.40 profit in 1Q 2022)

Upcoming dividend of kr6.50 per share at 6.9% yield

AF Gruppen ASA Provides Earnings Guidance for the First Quarter of 2023

Full year 2022 earnings released: EPS: kr8.96 (vs kr9.61 in FY 2021)

AF Gruppen ASA Proposes Dividend for the First Half of Year 2023, Payable on 25 May 2023

AF Gruppen ASA (OB:AFG) signed a letter of intent to acquire 60% stake in Mepex Consult As.

No independent directors

Third quarter 2022 earnings released: EPS: kr1.46 (vs kr2.08 in 3Q 2021)

AF Gruppen ASA Approves Dividend for the Second Half-Year 2022, Payable on 23 November 2022

AF Gruppen ASA, Annual General Meeting, May 12, 2023

Second quarter 2022 earnings released: EPS: kr2.67 (vs kr2.09 in 2Q 2021)

AF Gruppen Announces Management Changes

AF Gruppen ASA Approves Dividend, Payable on 25 May 2022

First quarter 2022 earnings released: EPS: kr1.40 (vs kr1.55 in 1Q 2021)

Upcoming dividend of kr6.50 per share

No independent directors

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

AF Gruppen ASA Proposes Cash Dividend for the First Half-Year 2022, Payable on 25 May 2022

Third quarter 2021 earnings released: EPS kr2.08 (vs kr2.40 in 3Q 2020)

Second quarter 2021 earnings released: EPS kr2.09 (vs kr1.56 in 2Q 2020)

First quarter 2021 earnings released: EPS kr1.55 (vs kr1.23 in 1Q 2020)

AF Gruppen ASA Approves Cash Dividend for the First Half-Year 2021, Payable on 25 May 2021

Upcoming dividend of kr6.50 per share

New 90-day high: €17.90

Chief Executive Officer recently bought €158k worth of stock

AF Gruppen Nominates by Halden Municipality as Design and Build Contractor for Os School and Sports Arena

AF Gruppen ASA Enters into an Agreement to Build 163 Mass Timber Apartments as FutureBuilt-Project

Full year 2020 earnings released: EPS kr9.29 (vs kr8.51 in FY 2019)

Revenue beats expectations

New 90-day high: €17.02

New 90-day high: €16.42

New 90-day high: €16.28

AF Gruppen ASA Announces New Parking Garage with Apartments in Gothenburg

Third quarter 2020 earnings released: EPS kr2.40

Revenue misses expectations

Af Gruppen enters into an Agreement with the Ministry of Justice and Public Security

New 90-day low: €13.50

Af Gruppen Asa Announces That Its Subsidry Betonmast Signs Contract with Conceptor Bolig as for Construction of 87 Apartments and Business Units as Part of Kastanjen Project in Town of Hamar

AF Group Announces Executive Changes

New 90-day low: €14.68

New 90-day low: €14.94

New 90-day low - €15.20

Earnings released

AF Gruppen ASA to Report Q3, 2021 Results on Nov 12, 2021

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age