B 
22.80
-0.87%
Close of 9 Nov 2026, in NOK
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At a glance
Figures in NOK, from our data supplier.
Revenue
NOK 2.35bn
FY2016FY2025
Net income
NOK 108.3m
FY2016FY2025
Free cash flow
NOK 156.0m
FY2016FY2025
Shareholders' equity
NOK 1.02bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 2.35bn | NOK 2.17bn | NOK 2.22bn | NOK 2.51bn | NOK 2.34bn | NOK 2.05bn | NOK 1.78bn | NOK 1.66bn | NOK 1.62bn | NOK 1.51bn |
| Gross profit | NOK 1.16bn | NOK 1.11bn | NOK 1.13bn | NOK 1.31bn | NOK 1.21bn | NOK 1.10bn | NOK 939.9m | NOK 875.3m | NOK 876.3m | NOK 833.6m |
| Operating income | NOK 130.3m | NOK 22.3m | NOK 127.3m | NOK 324.6m | NOK 230.2m | NOK 191.9m | NOK 75.6m | NOK 64.0m | NOK 88.0m | NOK 88.4m |
| Net income | NOK 108.3m | −NOK 258.6m | NOK 61.0m | NOK 250.2m | NOK 174.1m | NOK 124.9m | NOK 48.9m | NOK 46.8m | NOK 64.4m | NOK 63.7m |
| Diluted earnings per share | 1.54 | -3.68 | 0.87 | 3.56 | 4.29 | 1.79 | 0.70 | 0.66 | 0.90 | 0.89 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 2.92bn | NOK 2.91bn | NOK 3.24bn | NOK 2.95bn | NOK 1.83bn | NOK 2.13bn | NOK 1.82bn | NOK 1.69bn | NOK 1.55bn | NOK 1.45bn |
| Cash and short-term investments | NOK 36.4m | NOK 51.4m | NOK 63.2m | NOK 37.1m | NOK 53.3m | NOK 509.2m | NOK 307.9m | NOK 362.1m | NOK 358.9m | NOK 319.9m |
| Total liabilities | NOK 1.89bn | NOK 2.00bn | NOK 2.11bn | NOK 2.11bn | NOK 1.23bn | NOK 1.14bn | NOK 954.0m | NOK 863.4m | NOK 751.8m | NOK 689.7m |
| Debt | NOK 1.03bn | NOK 1.15bn | NOK 1.01bn | NOK 987.3m | NOK 611.4m | NOK 597.0m | NOK 502.6m | NOK 389.1m | NOK 303.3m | NOK 296.8m |
| Shareholders' equity | NOK 1.02bn | NOK 912.5m | NOK 1.13bn | NOK 832.7m | NOK 598.3m | NOK 990.2m | NOK 861.4m | NOK 824.4m | NOK 798.9m | NOK 764.1m |
| Shares outstanding | 70m | 70m | 70m | 70m | 41m | 70m | 70m | 71m | 71m | 72m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NOK 244.2m | NOK 50.4m | NOK 213.7m | NOK 315.8m | NOK 139.1m | NOK 207.1m | NOK 78.9m | NOK 53.0m | NOK 181.4m | NOK 90.6m |
| Capital spending | −NOK 88.2m | −NOK 37.1m | −NOK 56.7m | −NOK 128.9m | −NOK 90.4m | −NOK 61.2m | −NOK 92.1m | −NOK 105.4m | −NOK 117.7m | −NOK 91.5m |
| Free cash flow | NOK 156.0m | NOK 13.3m | NOK 157.0m | NOK 186.9m | NOK 48.7m | NOK 145.9m | −NOK 13.2m | −NOK 52.3m | NOK 63.6m | −NOK 874,000 |
| Dividends paid | — | — | — | −NOK 69.8m | −NOK 558.6m | −NOK 7.0m | −NOK 7.0m | −NOK 7.2m | −NOK 35.8m | −NOK 78.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 605.9m | NOK 652.5m | NOK 582.8m | NOK 537.8m | NOK 592.4m | NOK 636.0m | NOK 574.4m | NOK 503.1m |
| Gross profit | NOK 275.3m | NOK 302.1m | NOK 349.4m | NOK 245.6m | NOK 274.7m | NOK 293.9m | NOK 352.8m | NOK 224.9m |
| Operating income | NOK 9.3m | NOK 38.1m | NOK 2.8m | NOK 91.9m | NOK 32.6m | NOK 40.9m | −NOK 164.2m | NOK 33.0m |
| Net income | −NOK 45.0m | NOK 114.8m | −NOK 65.1m | NOK 59.8m | NOK 22.1m | NOK 94.8m | −NOK 183.5m | −NOK 27.8m |
| Diluted earnings per share | -0.64 | 1.64 | -0.93 | 0.85 | 0.31 | 1.35 | -2.61 | -0.40 |
| Cash from operations | −NOK 4.0m | NOK 36.0m | NOK 231.0m | NOK 18.0m | −NOK 10.0m | −NOK 9.0m | NOK 50.0m | NOK 8.0m |
| Capital spending | −NOK 26.0m | −NOK 16.0m | −NOK 87.0m | −NOK 58.0m | −NOK 37.0m | −NOK 20.0m | −NOK 37.0m | −NOK 23.0m |
| Free cash flow | −NOK 30.0m | NOK 20.0m | NOK 144.0m | −NOK 40.0m | −NOK 47.0m | −NOK 29.0m | NOK 13.0m | −NOK 15.0m |
| Total assets | NOK 2.93bn | NOK 2.95bn | NOK 2.92bn | NOK 3.14bn | NOK 3.11bn | NOK 3.04bn | NOK 2.91bn | NOK 3.10bn |
| Cash and short-term investments | — | — | NOK 36.4m | NOK 28.8m | NOK 27.6m | NOK 35.3m | NOK 51.4m | NOK 29.1m |
| Debt | NOK 518.2m | NOK 531.1m | NOK 1.03bn | NOK 1.18bn | NOK 1.18bn | NOK 1.17bn | NOK 1.15bn | NOK 1.04bn |
| Shareholders' equity | NOK 1.06bn | NOK 1.09bn | NOK 1.02bn | NOK 1.08bn | NOK 1.03bn | NOK 980.5m | NOK 912.5m | NOK 1.10bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.2% | 2.7% | 5.1% |
| Operating income | -26.2% | -7.4% | 5.0% |
| Net income | -24.4% | -2.8% | -13.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 50.2% | 50.9% | 51.4% | 52.3% |
| Operating margin | 3.4% | 6.5% | 7.5% | 6.6% |
| Net margin | -3.3% | 1.7% | 3.4% | 5.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.5 | -4.2 | 22.3 | 7.8 | 6.1 | 10.6 | 13.2 | 10.3 | 10.1 | 8.4 |
| Price to sales | 0.4 | 0.5 | 0.6 | 0.8 | 0.5 | 0.6 | 0.4 | 0.3 | 0.4 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 1 Jun 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.00 | 8.00 | 0.10 | 0.10 | 0.10 | 0.50 | 0.30 | 1.10 |
- 10-for-1 split · 31 May 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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