AF Gruppen Management

Management criteria checks 2/4

AF Gruppen's CEO is Amund Tøftum, appointed in Aug 2020, has a tenure of 3.67 years. total yearly compensation is NOK12.02M, comprised of 33.7% salary and 66.3% bonuses, including company stock and options. directly owns 0.13% of the company’s shares, worth NOK19.71M. The average tenure of the management team and the board of directors is 3.8 years and 1.9 years respectively.

Key information

Amund Tøftum

Chief executive officer

kr12.0m

Total compensation

CEO salary percentage	33.7%
CEO tenure	3.7yrs
CEO ownership	0.1%
Management average tenure	3.8yrs
Board average tenure	1.9yrs

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
Dec 31 2023	n/a	n/a	kr402m
Sep 30 2023	n/a	n/a	kr596m
Jun 30 2023	n/a	n/a	kr705m
Mar 31 2023	n/a	n/a	kr806m
Dec 31 2022	kr12m	kr4m	kr958m
Sep 30 2022	n/a	n/a	kr1b
Jun 30 2022	n/a	n/a	kr1b
Mar 31 2022	n/a	n/a	kr1b
Dec 31 2021	kr9m	kr4m	kr1b
Sep 30 2021	n/a	n/a	kr1b
Jun 30 2021	n/a	n/a	kr1b
Mar 31 2021	n/a	n/a	kr1b
Dec 31 2020	kr6m	kr2m	kr971m
Sep 30 2020	n/a	n/a	kr767m
Jun 30 2020	n/a	n/a	kr749m
Mar 31 2020	n/a	n/a	kr840m
Dec 31 2019	kr5m	kr2m	kr854m
Sep 30 2019	n/a	n/a	kr899m
Jun 30 2019	n/a	n/a	kr886m
Mar 31 2019	n/a	n/a	kr782m
Dec 31 2018	kr4m	kr2m	kr772m
Sep 30 2018	n/a	n/a	kr727m
Jun 30 2018	n/a	n/a	kr647m
Mar 31 2018	n/a	n/a	kr667m
Dec 31 2017	kr5m	kr2m	kr621m

Compensation vs Market: Amund's total compensation ($USD1.09M) is below average for companies of similar size in the UK market ($USD2.28M).

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 (45 yo)

3.7yrs

Tenure

kr12,021,000

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
Amund Tøftum	Chief Executive Officer	3.7yrs	kr12.02m	0.13% NOK 19.7m
Anny Øen	Executive VP & CFO	1.6yrs	kr1.69m	0.033% NOK 4.8m
Bård Frydenlund	Executive Vice President of Sweden	5.3yrs	kr6.13m	0.18% NOK 25.9m
Tormod Solberg	Executive Vice President of Construction	3.6yrs	kr5.40m	0.058% NOK 8.4m
Eirik Wraal	Executive Vice President of Environment & Energy	8.3yrs	kr5.89m	0.036% NOK 5.2m
Geir Flata	Executive Vice President of Civil Engineering & Property	5.1yrs	kr6.12m	0.0021% NOK 310.9k
Lars Hjelmeset	Executive Vice President of Offshore	1.6yrs	kr1.88m	0.033% NOK 4.8m
Knut Ekern	Communication Director	no data	no data	0.0079% NOK 1.2m
Kelly Fusner	Chief Underwriting Officer	3.8yrs	no data	no data

3.8yrs

Average Tenure

47yo

Average Age

Experienced Management: 0DH7's management team is considered experienced (3.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Hege Bomark	Director	11.9yrs	kr389.00k	no data
Morten Grongstad	Chairman of the Board	less than a year	kr11.73m	0.023% NOK 3.4m
Arne Sveen	Director	no data	kr275.00k	no data
Kristian Holth	Director	7.9yrs	kr404.00k	no data
Saloume Djoudat	Director	2.9yrs	kr389.00k	no data
Hilde Flaen	Director	no data	kr275.00k	0.027% NOK 3.9m
Erik Veiby	Director	1.9yrs	no data	no data
Hilde Herud	Director	1.9yrs	no data	0.0028% NOK 415.1k
Marianne Gjertsen	Director	less than a year	no data	no data
Espen Jahr	Director	1.9yrs	no data	0.0047% NOK 683.5k

1.9yrs

Average Tenure

50.5yo

Average Age

Experienced Board: 0DH7's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.

AF Gruppen Management

Management criteria checks 2/4

Key information

Recent management updates

Chairman of the Board recently bought kr565k worth of stock

Chairman of the Board recently bought kr650k worth of stock

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

Recent updates

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)

Chairman of the Board recently bought kr565k worth of stock

Chairman of the Board recently bought kr650k worth of stock

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.

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

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

Insider recently bought kr425k worth of stock

AF Gruppen ASA Approves Dividend, Payable on 25 May 2022

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

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

Chief Executive Officer recently bought kr1.6m worth of stock

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: kr179

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

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

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