HAFSLUND AS
Score · fiscal year 2025
43of 100
How to read this: the company is ahead of 38 % of medium-sized companies in the same sector in 2025. What does this mean?
Rank: 959 of 1,571 · Kraft og energi
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 27 and solidity 60 out of 100 among medium-sized companies in the same sector in 2025. Methodology
Against the sector
HAFSLUND AS is 6 points below the median for medium-sized companies in the same sector in 2025.
Median score 49 among 197 companies.
Against medium-sized companies in the same sector in 2025: operating margin −123.7% (median 17.1%) and equity ratio 49.7% (median 42.7%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 139 MNOK | 195 MNOK |
| Operating margin | −123.7% | 17.1% |
| Profit margin | 1,730.2% | 13.9% |
| Return on assets | 5.8% | 5.4% |
| Equity ratio | 49.7% | 42.7% |
| Debt-to-equity | 1.01 | 1.33 |
| Current ratio | 0.70 | 1.18 |
| Revenue growth | 13.0% | 6.0% |
| Revenue per employee | 1.15 MNOK | 5.86 MNOK |
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 43, HAFSLUND AS does better than 38% of medium-sized companies in the same sector (197 companies) in 2025.
Score 2023–2025
- HAFSLUND AS
- Median: medium-sized companies in the same sector
HAFSLUND AS has a score of 43 for 2025, rank 959 of 1,571 in the sector.
Strongest: Growth: percentile 66 against peers, revenue growth 13.0% against a median of 6.0%. Solidity: percentile 60 against peers, equity ratio 49.7% against a median of 42.7%.
Weakest: Profitability: percentile 27 against peers, operating margin −123.7% against a median of 17.1%. Liquidity: percentile 28 against peers, current ratio 0.70 against a median of 1.18.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 1.4 times current assets. Based on: current ratio 0.70 (median 1.18).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −123.7% (median 17.1%).
- 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
HAFSLUND AS had an operating margin of −123.7% and an equity ratio of 49.7% in 2025, and ranks 959 of 1,571 in Kraft og energi.
From 2024 to 2025: the operating margin rose from −141.5% to −123.7% and revenue grew by 13%.
HAFSLUND AS did about the same as the sector in 2025, the sector's weakest year.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 23,290 MNOK and 34,325 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 23,290 MNOK |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 34,325 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
Consider strengthening liquidity: current liabilities are 1.4 times current assets.
Based on: Current ratio 0.70 (median 1.18).
- 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 −123.7% (median 17.1%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 4.5% 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
- watch Extreme margin: check the figures
Scenario analysis: the sector's weakest year
The operating margin was −123.7% in 2025 (sector median 12.6%), and the equity ratio 49.7%. In the other years the operating margin averaged −130.6%.
The sector's weakest year was 2025, with a median operating margin of 12.6%. Based on the 5 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 27 | weight 30% |
|---|---|---|
| Solidity | 60 | weight 25% |
| Liquidity | 28 | weight 15% |
| Growth | 66 | weight 15% |
| Consistency | 43 | weight 15% |
Durability: 47 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is HAFSLUND AS?
The operating margin was −123.7% in 2025, against a median of 17.1% among medium-sized companies in the same sector. Return on assets was 5.8%.
How solid is HAFSLUND AS?
The equity ratio was 49.7% in 2025 (median 42.7%). Debt-to-equity was 1.01 (median 1.33).
What is the liquidity of HAFSLUND AS like?
The current ratio was 0.70 in 2025 (median 1.18). Current assets did not cover current liabilities.
How does HAFSLUND AS compare in Kraft og energi?
HAFSLUND AS ranks 959 of 1,571 in Kraft og energi for 2025. Among companies of the same size (medium-sized companies) it ranks 122 of 197. Revenue changed by 13.0% from the year before.
Group accounts · 2025
65 of 100
Rank 200 of 975 groups with group accounts. Groups are ranked only against each other, not against single companies.
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | 67.0% | −123.7% |
| Return on assets | 11.3% | 5.8% |
| Equity ratio | 48.3% | 49.7% |
| Current ratio | 1.06 | 0.70 |
| Revenue growth | 17.9% | 13.0% |
Group index in earlier years: 2023: 65 (301 of 1176), 2024: 54 (403 of 994).
Same formulas and weights as the company index. Group and company are never added together, and the group accounts are not part of sector averages or company rankings.
Source: Brønnøysund Register Centre, group accounts 2025 (open data, NLOD 2.0).
Read the figures with care: a company in a group can look strong because of group contributions, or weak because dividends go up to the parent. The figures are indications, not the full picture.
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 920596509
- Legal form
- AS · part of a group
- Sector
- Kraft og energi (35.121)
- Size tier
- medium
- Employees
- 121 registered 10 October 2026
- Founded
- 5 March 2018 8 years in operation
- Share capital
- 110.00 MNOK
- Business address
- Harbitzalléen 5, 0275 OSLO
- Municipality
- Oslo rank 106–282 of 357 in Norway
- 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
- Finn Bjørn Ruyter
- Chair of the board
- Odd Arild Grefstad
- Board member
- Bjørn Erik Næss
- Board member
- Håkon Rustad
- Board member
- Maria Tallaksen
- Board member
- Halvor Kristian Halvorsen
- Board member
- Kristin Færøvik
- Board member
- Stian Berger Røsland
- Board member
- Ellen Nordstrand Veskje
- Deputy member
- Vegar Kjos Andersen
- Deputy member
- Hilde Veum-Wahlberg
- Deputy member
- Gunnar Ola Braaten
- Deputy member
- Gørild Slettjord Wiik
- Deputy member
- Olga Ingrid Molstad Steinsholt
- Auditor
- DELOITTE 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 | 47 | 51 | 43 | |
| Rank | 771 | 715 | 959 | |
| Operating margin | −119.8% | −141.5% | −123.7% | |
| Return on assets | 6.7% | 6.1% | 5.8% | |
| Equity ratio | 53.1% | 53.8% | 49.7% | |
| Current ratio | 0.74 | 0.63 | 0.70 | |
| Revenue growth | – | 28.1% | 13.0% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 96.0 MNOK | 123.0 MNOK | 139.0 MNOK |
| Operating profit | −115.0 MNOK | −174.0 MNOK | −172.0 MNOK |
| Profit before tax | 2,629.0 MNOK | 2,442.0 MNOK | 2,405.0 MNOK |
| Net profit | 2,495.0 MNOK | 2,313.0 MNOK | 2,329.0 MNOK |
| Financial expenses | 1,656.0 MNOK | 1,420.0 MNOK | 1,571.0 MNOK |
| Total assets | 63,844.0 MNOK | 63,758.0 MNOK | 68,995.0 MNOK |
| Current assets | 10,099.0 MNOK | 8,301.0 MNOK | 9,310.0 MNOK |
| Equity | 33,921.0 MNOK | 34,295.0 MNOK | 34,325.0 MNOK |
| Retained earnings | 10,327.0 MNOK | 10,701.0 MNOK | 10,731.0 MNOK |
| Total liabilities | 29,923.0 MNOK | 29,463.0 MNOK | 34,670.0 MNOK |
| Current liabilities | 13,705.0 MNOK | 13,192.0 MNOK | 13,240.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6597739.
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