B 
49.80
—
Close of 9 Nov 2026, in NOK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in NOK, from our data supplier.
Revenue
NOK 105.6m
FY2016FY2025
Net income
NOK 45.8m
FY2016FY2025
Free cash flow
NOK 79.3m
FY2016FY2025
Shareholders' equity
NOK 647.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 105.6m | NOK 96.4m | NOK 91.3m | NOK 69.5m | NOK 63.8m | NOK 61.9m | NOK 54.6m | NOK 74.9m | NOK 67.5m | NOK 62.8m |
| Research and development | — | — | — | NOK 1 | NOK 1 | NOK 0 | NOK 1 | NOK 0 | NOK 0 | NOK 0 |
| Operating income | NOK 73.5m | NOK 102.8m | NOK 69.8m | NOK 62.8m | NOK 23.3m | −NOK 815,430 | NOK 14.1m | NOK 23.0m | −NOK 3.8m | NOK 27.0m |
| Net income | NOK 45.8m | NOK 55.3m | NOK 29.0m | NOK 47.0m | NOK 29.0m | NOK 14.8m | −NOK 40.8m | −NOK 559,503 | −NOK 7.2m | NOK 11.6m |
| Diluted earnings per share | 5.27 | 6.21 | 4.34 | 7.04 | 4.34 | 2.22 | -4.70 | -0.06 | -1.08 | 1.74 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 1.55bn | NOK 1.43bn | NOK 1.20bn | NOK 1.10bn | NOK 661.9m | NOK 611.2m | NOK 667.7m | NOK 629.3m | NOK 649.6m | NOK 634.8m |
| Cash and short-term investments | — | NOK 81.0m | NOK 40.9m | NOK 44.0m | NOK 52.7m | NOK 38.7m | NOK 85.4m | NOK 63.4m | NOK 35.6m | NOK 37.6m |
| Total liabilities | NOK 904.6m | NOK 820.7m | NOK 752.1m | NOK 695.1m | NOK 445.6m | NOK 404.6m | NOK 485.9m | NOK 447.7m | NOK 472.2m | NOK 464.7m |
| Debt | NOK 720.2m | NOK 719.7m | NOK 683.7m | NOK 625.9m | NOK 405.9m | NOK 371.8m | NOK 424.7m | NOK 429.9m | NOK 450.7m | NOK 416.9m |
| Shareholders' equity | NOK 647.5m | NOK 613.5m | NOK 450.1m | NOK 405.7m | NOK 216.3m | NOK 206.6m | NOK 181.8m | NOK 181.6m | NOK 177.4m | NOK 170.1m |
| Shares outstanding | 9m | 9m | 7m | 7m | 7m | 7m | 9m | 9m | 7m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NOK 79.8m | NOK 82.3m | NOK 66.8m | NOK 61.9m | NOK 40.7m | −NOK 11.6m | NOK 15.2m | NOK 65.2m | −NOK 12,167 | NOK 73.1m |
| Capital spending | −NOK 511,000 | −NOK 3.1m | −NOK 2.3m | −NOK 629,000 | −NOK 9.8m | −NOK 106.8m | −NOK 88.2m | −NOK 17.5m | −NOK 23.2m | −NOK 46.8m |
| Free cash flow | NOK 79.3m | NOK 79.2m | NOK 64.5m | NOK 61.2m | NOK 30.9m | −NOK 118.3m | −NOK 73.0m | NOK 47.7m | −NOK 23.2m | NOK 26.3m |
| Dividends paid | −NOK 17.4m | −NOK 11.7m | −NOK 10.6m | −NOK 10.0m | −NOK 10.0m | −NOK 10.0m | −NOK 6.7m | −NOK 10.0m | −NOK 6.4m | −NOK 12.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 22.1m | NOK 26.7m | NOK 25.1m | NOK 26.9m | NOK 53.6m | NOK 26.9m | NOK 24.4m | NOK 24.4m |
| Operating income | NOK 14.1m | NOK 20.0m | NOK 16.4m | NOK 17.6m | NOK 45.9m | NOK 20.9m | NOK 13.6m | NOK 13.4m |
| Net income | NOK 29.7m | NOK 8.5m | NOK 23.6m | NOK 6.5m | NOK 14.7m | NOK 8.3m | NOK 2.6m | NOK 2.6m |
| Diluted earnings per share | 3.42 | 0.98 | 2.72 | 0.75 | 1.69 | 0.96 | 0.29 | 0.29 |
| Cash from operations | — | — | NOK 20.0m | NOK 58.0m | NOK 42.0m | — | NOK 82.0m | NOK 35.0m |
| Capital spending | — | — | — | — | — | — | −NOK 3.0m | — |
| Free cash flow | — | — | — | — | — | — | NOK 79.0m | — |
| Total assets | NOK 1.53bn | NOK 1.49bn | NOK 1.55bn | NOK 1.50bn | NOK 1.50bn | NOK 1.40bn | NOK 1.43bn | NOK 1.37bn |
| Cash and short-term investments | — | — | — | NOK 86.7m | NOK 101.5m | NOK 79.1m | NOK 81.0m | NOK 82.1m |
| Debt | NOK 711.8m | NOK 697.8m | NOK 720.2m | NOK 756.3m | NOK 766.3m | NOK 679.4m | NOK 719.7m | NOK 681.1m |
| Shareholders' equity | NOK 635.8m | NOK 619.4m | NOK 647.5m | NOK 617.4m | NOK 616.3m | NOK 603.5m | NOK 613.5m | NOK 585.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 15.0% | 11.3% | 5.7% |
| Operating income | 5.4% | — | 6.3% |
| Net income | -0.8% | 25.4% | 5.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 87.3% | 85.2% | 67.9% | 53.4% |
| Net margin | 50.1% | 48.8% | 45.2% | 26.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.3 | 8.1 | 10.9 | 7.1 | 11.6 | 22.5 | -6.2 | -491.4 | -44.1 |
| Price to sales | 4.0 | 4.6 | 3.5 | 4.8 | 5.3 | 5.4 | 4.6 | 3.7 | 4.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 23 May 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | |
|---|---|---|---|---|---|---|
| Paid in the year | 2.00 | 1.75 | 1.60 | 1.50 | 1.50 | 1.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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