Zeppelin Power Systems Norway AS
Score · fiscal year 2025
41of 100
How to read this: the company is ahead of 30 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 381 of 541 · What are Morning company classes?
Place in the whole sector: 15,398 of 22,940 · Handel
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 84 and solidity 21 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
Zeppelin Power Systems Norway AS is 9 points below the median for companies in the Morning class Large in the same sector in 2025.
Median score 50 among 541 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin 8.7% (median 2.5%) and equity ratio 15.2% (median 30.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1,484 MNOK | 1,119 MNOK |
| Operating margin | 8.7% | 2.5% |
| Profit margin | 8.4% | 2.5% |
| Return on assets | 17.3% | 10.2% |
| Equity ratio | 15.2% | 30.9% |
| Debt-to-equity | 5.60 | 2.23 |
| Current ratio | 1.13 | 1.30 |
| Revenue growth | −33.7% | 6.9% |
| Revenue per employee | 7.42 MNOK | 12.49 MNOK |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 41, Zeppelin Power Systems Norway AS does better than 30% of companies in the Morning class Large in the same sector (541 companies) in 2025.
Score 2023–2025
- Zeppelin Power Systems Norway AS
- Median: companies in the Morning class Large in the same sector
Zeppelin Power Systems Norway AS has a score of 41 for 2025, rank 15,398 of 22,940 in the sector.
Strongest: Profitability: percentile 84 against peers, operating margin 8.7% against a median of 2.5%.
Weakest: Growth: percentile 1 against peers, revenue growth −33.7% against a median of 6.9%. Solidity: percentile 21 against peers, equity ratio 15.2% against a median of 30.9%.
Worth a closer look
- What lies behind weak growth, and will it last?
- What lies behind weak solidity, 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
Zeppelin Power Systems Norway AS had an operating margin of 8.7% and an equity ratio of 15.2% in 2025, and ranks 15,398 of 22,940 in Handel.
From 2024 to 2025: revenue fell by 34% and the operating margin rose from 4.3% to 8.7%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 152 MNOK and 779 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 21.2 | 779 MNOK |
| EV/EBIT | 16.6 | missing |
| P/B | 2.2 | 152 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 39% for an unlisted company: 20% for lack of marketability and 24% for size (a small-company premium of 2% on the cost of equity).
A mechanical estimate from public accounts, not advice. A mechanical estimate from public accounts with listed multiples and fixed adjustments. Not a valuation and not advice to buy or sell. See the calculation
Worth a closer look
No rules were triggered for this year.
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.8% 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.
See interest rates, prices and exchange rates for the sector
Data quality
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 1.5%. 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 | 84 | weight 30% |
|---|---|---|
| Solidity | 21 | weight 25% |
| Liquidity | 32 | weight 15% |
| Growth | 1 | weight 15% |
| Consistency | 38 | weight 15% |
Durability: 44 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Zeppelin Power Systems Norway AS?
The operating margin was 8.7% in 2025, against a median of 2.5% among companies in the Morning class Large in the same sector. Return on assets was 17.3%.
How solid is Zeppelin Power Systems Norway AS?
The equity ratio was 15.2% in 2025 (median 30.9%). Debt-to-equity was 5.60 (median 2.23).
What is the liquidity of Zeppelin Power Systems Norway AS like?
The current ratio was 1.13 in 2025 (median 1.30).
How does Zeppelin Power Systems Norway AS compare in Handel?
Zeppelin Power Systems Norway AS ranks 15,398 of 22,940 in Handel for 2025. Among companies in the Morning class Large it is number 381 of 541. Revenue changed by −33.7% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
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.
Public contracts
- Contracts awarded since 2024
- 0
- Total awarded value since 2024
- value not stated
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 18 September 2019 | Longyearbyen lokalstyre | Ny reservekraftstasjon | 44.0 MNOK |
Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.
Source: Doffin (DFØ), fetched 27 October 2026. Winners are matched on organisation number.
Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0
From the Central Coordinating Register
- Org. no.
- 940280176
- Legal form
- AS · part of a group
- Sector
- Handel (46.640)
- Morning company class
- Large
- Employees
- 200 registered 10 October 2026
- Founded
- 30 April 1987 39 years in operation
- Share capital
- 5.50 MNOK
- Business address
- Bølerveien 60, 2020 SKEDSMOKORSET (LILLESTRØM)
- Municipality
- Lillestrøm rank 7 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- Website
- www.zeppelin-cat.no
- LEI
- 549300XPSXCRYGZOF349 renews 6 January 2027
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
Loading roles …
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- No known owner
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 October 2026. The parent is the one the company itself reported to GLEIF.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Zeppelin Holding Norway AS (100%)
Ultimate owner: ZEPPELIN HOLDING NETHERLANDS B.V
- Zeppelin Holding Norway AS · 100.0%
Change 2007–2025:
100% of the shares changed owner (1 new and 1 departed owners). The majority owner changed.
New owners (companies): Zeppelin Holding Norway AS
Departed (companies): Pon Power Holding Norway AS
Source: the Norwegian Tax Administration's shareholder register as of 2025. Figures may be older than today's ownership. Private persons are not shown by name.
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 28 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 36 | 56 | 41 | |
| Rank | 14,917 | 8,765 | 15,398 | |
| Operating margin | 3.6% | 4.3% | 8.7% | |
| Return on assets | 6.8% | 14.3% | 17.3% | |
| Equity ratio | 15.6% | 18.3% | 15.2% | |
| Current ratio | 1.14 | 1.18 | 1.13 | |
| Revenue growth | – | 84.7% | −33.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1,212.0 MNOK | 2,239.0 MNOK | 1,483.8 MNOK |
| Operating profit | 43.6 MNOK | 96.6 MNOK | 129.1 MNOK |
| Profit before tax | 29.2 MNOK | 78.8 MNOK | 124.2 MNOK |
| Tax expense | 6.5 MNOK | 17.5 MNOK | 27.4 MNOK |
| Net profit | 22.7 MNOK | 61.4 MNOK | 96.8 MNOK |
| Financial expenses | 14.5 MNOK | 18.4 MNOK | 4.8 MNOK |
| Total assets | 645.3 MNOK | 679.6 MNOK | 748.3 MNOK |
| Current assets | 621.7 MNOK | 657.6 MNOK | 719.8 MNOK |
| Equity | 100.9 MNOK | 124.2 MNOK | 113.4 MNOK |
| Retained earnings | 53.7 MNOK | 77.0 MNOK | 66.1 MNOK |
| Total liabilities | 544.4 MNOK | 555.4 MNOK | 634.9 MNOK |
| Current liabilities | 544.4 MNOK | 555.4 MNOK | 634.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 6954016.
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