ICENOR AS
Score · fiscal year 2025
52of 100
How to read this: the company is ahead of 57 % of medium-sized companies in the same sector in 2025. What does this mean?
Rank: 17,600 of 38,671 · Handel
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 37 and solidity 42 out of 100 among medium-sized companies in the same sector in 2025. Methodology
Against the sector
ICENOR AS is 3 points above the median for medium-sized companies in the same sector in 2025.
Median score 49 among 2,198 companies.
Against medium-sized companies in the same sector in 2025: operating margin 1.2% (median 3.2%) and equity ratio 28.6% (median 32.6%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 191 MNOK | 173 MNOK |
| Operating margin | 1.2% | 3.2% |
| Profit margin | 0.7% | 3.2% |
| Return on assets | 11.6% | 11.6% |
| Equity ratio | 28.6% | 32.6% |
| Debt-to-equity | 2.49 | 2.03 |
| Current ratio | 1.39 | 1.38 |
| Revenue growth | 169.4% | 6.8% |
The median and “ahead of” refer to medium-sized companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 52, ICENOR AS does better than 57% of medium-sized companies in the same sector (2,203 companies) in 2025.
Score 2023–2025
- ICENOR AS
- Median: medium-sized companies in the same sector
ICENOR AS has a score of 52 for 2025, rank 17,600 of 38,671 in the sector.
Strongest: Growth: percentile 98 against peers, revenue growth 169.4% against a median of 6.8%.
Weakest: Profitability: percentile 37 against peers, operating margin 1.2% against a median of 3.2%.
Worth a closer look
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin 1.2% (median 3.2%).
- What lies behind weak profitability, and will it last?
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
What the numbers say
ICENOR AS had an operating margin of 1.2% and an equity ratio of 28.6% in 2025, and ranks 17,600 of 38,671 in Handel.
From 2024 to 2025: revenue grew by 169% and the equity ratio fell from 67.1% to 28.6%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 9 MNOK and 19 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 9 MNOK |
| EV/EBIT | 8.0 | 19 MNOK |
| P/B | 1.0 | 9 MNOK |
A mechanical estimate from public accounts, not advice. Mechanical estimate from public accounts with fixed multiples. Not a valuation and not advice to buy or sell. The multiples are provisional default values and must be adjusted per sector before the figures are used for anything. See the calculation
Worth a closer look
- watch
The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin 1.2% (median 3.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 10.9% of the debt in 2025. The policy rate averaged 4.30 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
Data quality
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2017, the sector's weakest year, for this company.
The sector's weakest year was 2017, with a median operating margin of −65.6%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 37 | weight 30% |
|---|---|---|
| Solidity | 42 | weight 25% |
| Liquidity | 51 | weight 15% |
| Growth | 98 | weight 15% |
| Consistency | 55 | weight 15% |
Durability: 52 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is ICENOR AS?
The operating margin was 1.2% in 2025, against a median of 3.2% among medium-sized companies in the same sector. Return on assets was 11.6%.
How solid is ICENOR AS?
The equity ratio was 28.6% in 2025 (median 32.6%). Debt-to-equity was 2.49 (median 2.03).
What is the liquidity of ICENOR AS like?
The current ratio was 1.39 in 2025 (median 1.38).
How does ICENOR AS compare in Handel?
ICENOR AS ranks 17,600 of 38,671 in Handel for 2025. Among companies of the same size (medium-sized companies) it ranks 946 of 2,203. Revenue changed by 169.4% from the year before.
From the Central Coordinating Register
- Org. no.
- 912490025
- Legal form
- AS
- Sector
- Handel (46.322)
- Size tier
- medium
- Employees
- 0–4 (not registered)
- Founded
- 19 September 2013 13 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Danielstrøa 12A, 7550 HOMMELVIK (MALVIK)
- Municipality
- Malvik rank 13–24 of 38 in KOSTRA group 7
- Latest accounts filed
- 2025
Source: Central Coordinating Register, Brønnøysund Register Centre. The employee count is reported by the company and may be older than the accounts. See the company at the Brønnøysund Register Centre
Ownership and roles
- Chief executive
- Jon Gardar Helgason
- Chair of the board
- Jon Gardar Helgason
- Deputy member
- Elise Margrethe Mathisen
- Auditor
- REVISJONSFIRMAET ARNE J BUVIK AS
- Accountant
- MELHUS REGNSKAP AS
Source: Central Coordinating Register, fetched 25 October 2026. Only names are shown.
Owners and shareholdings will appear here once the shareholder data extract is in place.
Coming · not built yet
Error in the data?
Do you see an error in the figures or in how the company is mapped (sector, holding, group)? Let us know. Corrections require documentation.
Figures last fetched 26 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 44 | 60 | 52 | |
| Rank | 20,595 | 11,253 | 17,600 | |
| Operating margin | 1.8% | 0.3% | 1.2% | |
| Return on assets | −1.0% | 12.8% | 11.6% | |
| Equity ratio | 33.6% | 67.1% | 28.6% | |
| Current ratio | 1.51 | 3.47 | 1.39 | |
| Revenue growth | – | −25.3% | 169.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 95.1 MNOK | 71.0 MNOK | 191.3 MNOK |
| Operating profit | 1.7 MNOK | 0.2 MNOK | 2.4 MNOK |
| Profit before tax | 1.7 MNOK | 0.8 MNOK | 1.2 MNOK |
| Net profit | 1.3 MNOK | 0.6 MNOK | 0.9 MNOK |
| Financial expenses | −1.9 MNOK | 0.8 MNOK | 2.5 MNOK |
| Total assets | 23.4 MNOK | 12.5 MNOK | 32.6 MNOK |
| Current assets | 22.2 MNOK | 11.4 MNOK | 31.3 MNOK |
| Equity | 7.9 MNOK | 8.4 MNOK | 9.3 MNOK |
| Retained earnings | 7.8 MNOK | 8.4 MNOK | 9.3 MNOK |
| Total liabilities | 15.5 MNOK | 4.1 MNOK | 23.2 MNOK |
| Current liabilities | 14.7 MNOK | 3.3 MNOK | 22.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6945380.
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