AS J LUDWIG MOWINCKELS REDERI
Score · fiscal year 2025
65of 100
How to read this: the company is ahead of 81 % of small companies in the same sector in 2025. What does this mean?
Rank: 390 of 2,035 · Sjøfart
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 43 and solidity 69 out of 100 among small companies in the same sector in 2025. Methodology
Against the sector
AS J LUDWIG MOWINCKELS REDERI is 15 points above the median for small companies in the same sector in 2025.
Median score 50 among 1,468 companies.
Against small companies in the same sector in 2025: operating margin −120.4% (median 8.4%) and equity ratio 83.4% (median 51.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 7 MNOK | 5 MNOK |
| Operating margin | −120.4% | 8.4% |
| Profit margin | 869.9% | 9.2% |
| Return on assets | 14.3% | 3.4% |
| Equity ratio | 83.4% | 51.2% |
| Debt-to-equity | 0.20 | 0.67 |
| Current ratio | 79.93 | 1.77 |
| Revenue growth | 54.0% | 1.2% |
| Revenue per employee | 1.38 MNOK | 1.35 MNOK |
The median and “ahead of” refer to small companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 65, AS J LUDWIG MOWINCKELS REDERI does better than 81% of small companies in the same sector (1,475 companies) in 2025.
Score 2023–2025
- AS J LUDWIG MOWINCKELS REDERI
- Median: small companies in the same sector
AS J LUDWIG MOWINCKELS REDERI has a score of 65 for 2025, rank 390 of 2,035 in the sector.
Strongest: Liquidity: percentile 93 against peers, current ratio 79.93 against a median of 1.77. Growth: percentile 86 against peers, revenue growth 54.0% against a median of 1.2%.
No area is clearly below its peers.
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 −120.4% (median 8.4%).
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
AS J LUDWIG MOWINCKELS REDERI had an operating margin of −120.4% and an equity ratio of 83.4% in 2025, and ranks 390 of 2,035 in Sjøfart.
From 2024 to 2025: the operating margin rose from −245.6% to −120.4% and revenue grew by 54%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 550 MNOK and 587 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 587 MNOK |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 550 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 −120.4% (median 8.4%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 31.7% 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
We have no accounts for 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of 6.1%. Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 43 | weight 30% |
|---|---|---|
| Solidity | 69 | weight 25% |
| Liquidity | 93 | weight 15% |
| Growth | 86 | weight 15% |
| Consistency | 52 | weight 15% |
Durability: 65 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is AS J LUDWIG MOWINCKELS REDERI?
The operating margin was −120.4% in 2025, against a median of 8.4% among small companies in the same sector. Return on assets was 14.3%.
How solid is AS J LUDWIG MOWINCKELS REDERI?
The equity ratio was 83.4% in 2025 (median 51.2%). Debt-to-equity was 0.20 (median 0.67).
What is the liquidity of AS J LUDWIG MOWINCKELS REDERI like?
The current ratio was 79.93 in 2025 (median 1.77).
How does AS J LUDWIG MOWINCKELS REDERI compare in Sjøfart?
AS J LUDWIG MOWINCKELS REDERI ranks 390 of 2,035 in Sjøfart for 2025. Among companies of the same size (small companies) it ranks 288 of 1,475. Revenue changed by 54.0% from the year before.
Group accounts · 2025
83 of 100
Rank 15 of 975 groups with group accounts. Groups are ranked only against each other, not against single companies.
The group accounts are in USD. We show ratios, not amounts.
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | 51.8% | −120.4% |
| Return on assets | 9.8% | 14.3% |
| Equity ratio | 72.4% | 83.4% |
| Current ratio | 39.32 | 79.93 |
| Revenue growth | 97.8% | 54.0% |
Group index in earlier years: 2023: 94 (10 of 1176), 2024: 76 (82 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.
- 922480656
- Legal form
- AS · part of a group
- Sector
- Sjøfart (50.201)
- Size tier
- small
- Employees
- 5 registered 10 July 2026
- Founded
- 15 August 1912 114 years in operation
- Share capital
- 30.15 MNOK
- Business address
- Bradbenken 1, 5003 BERGEN
- Municipality
- Bergen rank 9 of 11 in KOSTRA group 12
- 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
- Geir Belsnes
- Chair of the board
- Øystein Bøe
- Board member
- Birthe Cecilie Lepsøe
- Board member
- Petter Dragesund
- Auditor
- PRICEWATERHOUSECOOPERS AS
Source: Central Coordinating Register, fetched 29 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 | 70 | 60 | 65 | |
| Rank | 263 | 520 | 390 | |
| Operating margin | −205.9% | −245.6% | −120.4% | |
| Return on assets | 14.8% | 11.6% | 14.3% | |
| Equity ratio | 96.3% | 96.5% | 83.4% | |
| Current ratio | 85.86 | 82.00 | 79.93 | |
| Revenue growth | – | −16.2% | 54.0% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 5.3 MNOK | 4.5 MNOK | 6.9 MNOK |
| Operating profit | −11.0 MNOK | −11.0 MNOK | −8.3 MNOK |
| Profit before tax | 64.8 MNOK | 62.8 MNOK | 59.9 MNOK |
| Net profit | 63.7 MNOK | 54.3 MNOK | 58.7 MNOK |
| Financial expenses | 2.6 MNOK | −3.8 MNOK | 34.7 MNOK |
| Total assets | 453.9 MNOK | 509.0 MNOK | 659.6 MNOK |
| Current assets | 399.1 MNOK | 376.7 MNOK | 338.6 MNOK |
| Equity | 437.0 MNOK | 491.3 MNOK | 550.0 MNOK |
| Retained earnings | 399.8 MNOK | 454.1 MNOK | 512.8 MNOK |
| Total liabilities | 17.0 MNOK | 17.7 MNOK | 109.6 MNOK |
| Current liabilities | 4.6 MNOK | 4.6 MNOK | 4.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 7167257.
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