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Sector

Construction

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8 companies ranked against comparable companies in four Morning company classes. Fiscal year 2026. Source: Brønnøysund Register Centre. Methodology

Ranking · 2026 · Morning class Medium

Too few companies in this class (3, at least 10 needed) for a ranking of its own. They are compared with the whole sector.

Morning class Medium · 2026
#CompanyProfileScoreChangeFive years
1 Alt Heis AS Leader 76 –
2 Sprinkler Norge AS Leader 53 −3
3 Linjemontage AS Builder 38 +3
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The rank is the rank in the class. A class with fewer than ten companies is compared with the whole sector. Full ranking · Press mode

Biggest moves · Morning class Medium

  • Sprinkler Norge AS

    From 2025 to 2026: revenue fell by 30%.

    −3
  • Linjemontage AS

    From 2025 to 2026: revenue grew by 140% and the equity ratio rose from −11.2% to 15.7%.

    +3

Top lists in the sector · 2026 · Morning class Medium

Combined profit before tax for the 3 ranked companies: 30 MNOK.

Size

The largest by revenue and employees, and who earns the most per employee.

Highest revenue

  1. Linjemontage AS 140 MNOK
  2. Alt Heis AS 94 MNOK
  3. Sprinkler Norge AS 85 MNOK

Operating revenue.

Most employees

  1. Sprinkler Norge AS 43
  2. Alt Heis AS 29
  3. Linjemontage AS 11

Employees according to the Central Coordinating Register.

Highest revenue per employee

  1. Linjemontage AS 12.8 MNOK
  2. Alt Heis AS 3.3 MNOK
  3. Sprinkler Norge AS 2.0 MNOK

Only companies with at least 5 employees.

Profit and balance

Who earns the most, who loses the most, and who has the strongest balance sheet.

Highest operating margin

  1. Sprinkler Norge AS 10.6%
  2. Alt Heis AS 9.8%
  3. Linjemontage AS 6.0%

Operating result divided by operating revenue.

Largest profit

  1. Sprinkler Norge AS 11 MNOK
  2. Alt Heis AS 9 MNOK
  3. Linjemontage AS 9 MNOK

Profit before tax.

Largest loss

No company meets the requirement this year.

Profit before tax, the largest negative.

Most solid

  1. Alt Heis AS 47.4%
  2. Sprinkler Norge AS 30.1%
  3. Linjemontage AS 15.7%

Equity ratio: equity divided by total assets.

Growth and movement

Who grows and falls the most in revenue, and who has climbed or fallen the most on the index since the year before.

Fastest growth

  1. Linjemontage AS +139.9%

Revenue growth from the year before, only from at least NOK 10 million in revenue.

Largest revenue decline

  1. Sprinkler Norge AS −29.9%

Revenue decline from the year before, only from at least NOK 10 million in revenue.

Biggest climbers

  1. Linjemontage AS +3.5 points

Change in index points from the year before.

Biggest fallers

  1. Sprinkler Norge AS −2.9 points

Change in index points from the year before.

The lists cover ranked companies in the class: operating companies with at least NOK 1m in revenue, without holding companies and excluded ones. Size lists (revenue, profit, employees) count each group once. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.

Quadrant analysis

Positions in the sector · 2026 · Morning class Medium

Each company is placed by profitability and solidity, measured as a place from 0 to 100 against the others in the same sector and Morning company class. The bubble shows revenue. Hover over or tap a bubble for the figures, filter by profile or search for a company.

Linjemontage AS: 43 / 14Alt Heis AS: 71 / 86Sprinkler Norge AS: 71 / 7100252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers
Linjemontage AS: 43 / 14Alt Heis AS: 71 / 86Sprinkler Norge AS: 71 / 7100252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers

Bubble size shows relative revenue, not exact figures. Dashed lines show where the 2 companies that moved most stood in 2025 (small ring).

  • Lion · LeaderHigh profitability, high solidity
  • Cheetah · SprinterHigh profitability, lower solidity
  • Elephant · StewardLower profitability, high solidity
  • Beaver · BuilderLower profitability, lower solidity
Show the positions as a list
CompanyProfileProfitabilitySolidityIn 2025 (profitability / solidity)
Alt Heis ASLion7186–
Sprinkler Norge ASLion717168 / 48
Linjemontage ASBeaver431445 / 0
The sector in numbers

Summary · fiscal year 2026 · Morning class Medium

The sector's median operating margin is 9.8%. 0 of 3 companies have negative equity. The median equity ratio is 30.1%.

Companies with accounts3
Total revenue319 MNOK
Median operating margin9.8%
Median equity ratio30.1%
Share with a loss0%
Share with negative equity0%

All figures are for fiscal year 2026. Ranked: 3 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

Climbers and fallers · Morning class Medium

Change in rank from 2025 to 2026, for 2 companies ranked in both years.

Climbers

  1. 1,412Linjemontage ASfrom rank 1,415 to 338
  2. 675Sprinkler Norge ASfrom rank 677 to 253

Fallers

None.

Awards · 2026 · Morning class Medium

Most profitableSprinkler Norge AS10.6%
Fastest growthLinjemontage AS139.9%
Strongest balance sheetAlt Heis AS47.4%
Largest revenueLinjemontage AS140 MNOK
Highest revenue per employeeLinjemontage AS12.8 MNOK

Needs attention · 2026 · Morning class Medium

No company has negative equity, a loss or weak liquidity.

Sector map · 2026 · Morning class Medium

Profitability against solidity for the ranked companies. Size shows revenue. Coral triangle: negative equity. Click to open the company. Outliers are placed on the edge.

0%2%4%6%8%10%0%5%10%15%20%25%30%Operating margin (profitability) →Equity ratio (solidity) →Linjemontage AS: operating margin 6.0%, equity ratio 15.7%, rank 3Alt Heis AS: operating margin 9.8%, equity ratio 47.4%, rank 1Sprinkler Norge AS: operating margin 10.6%, equity ratio 30.1%, rank 2
Show the map's figures as a table
CompanyOperating marginEquity ratioRevenue
Alt Heis AS9.8%47.4%94 MNOK
Sprinkler Norge AS10.6%30.1%85 MNOK
Linjemontage AS6.0%15.7%140 MNOK

In our articles

All articles

Scenario analysis: the sector's weakest year

The sector's weakest year was 2021, with a median operating margin of 1.8%.

Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal yearMedian operating marginMedian equity ratio
2017––
2018––
2019––
2020––
2021 · weakest year1.8%35.9%
20222.4%14.0%
20234.4%33.1%
20244.1%33.2%
20254.0%32.8%
20267.8%28.8%

In 2021, 1 ranked companies did better than the sector, 0 about the same and 0 weaker.

Held up best in 2021

  1. 1Områdesikring ASequity ratio 35.9%1.8%

Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology

Drivers in the sector

Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.

Construction cost index for dwellings (indeks (2015 = 100))

Latest value: 160.3 (2026M09)

Construction cost index for dwellings rose 4.3% in 2025; the sector's median operating margin fell 0.1 percentage points.

Construction cost index for dwellings per year and the sector's median operating margin
Measure202120222023202420252026
Construction cost index for dwellings, annual average124.2135.1141.1146.4152.7158.4 (so far)
Change from the year before+8.7%+8.8%+4.4%+3.7%+4.3%+3.7%
Sector's median operating margin1.8%2.4%4.4%4.1%4.0%7.8%

Source: SSB (08651, CC BY 4.0). Source · fetched 3 November 2026

Policy rate (prosent)

Latest value: 4.50 (2026-10)

Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin fell 0.1 percentage points.

Policy rate per year and the sector's median operating margin
Measure202120222023202420252026
Policy rate, annual average0.081.323.544.504.304.17 (so far)
Change from the year before−0.28 percentage points+1.24 percentage points+2.22 percentage points+0.96 percentage points−0.20 percentage points−0.12 percentage points
Sector's median operating margin1.8%2.4%4.4%4.1%4.0%7.8%

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 3 November 2026

When policy rate fell in 2025, 9,356 of 19,353 ranked companies kept their operating margin at or above the year before. Among the largest: Veidekke Entreprenør AS (2.9% → 3.5%), Skanska Norge AS (2.4% → 2.7%), Hent AS (5.7% → 5.9%), Nye Veier AS (−12.2% → −5.5%), NCC Norge AS (−3.8% → 0.6%).

We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.

The sector in Norway (SSB)

The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.

Enterprises, employment and turnover · 2024

Enterprises
59,444
−1.1% from 2023
Persons employed
267,499
−2.7% from 2023
Turnover
NOK 757.6 bn
+0.0% from 2023
Gross operating margin
6.8%
Gross operating surplus divided by turnover

All enterprises, sole proprietorships included.

Bankruptcies in the industry

854 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −11.3% against the four quarters before (963). That is about 14.4 per 1,000 enterprises.

2482024K42462025K12752025K21942025K32022025K42412026K12302026K21812026K3

Foreign-controlled enterprises · 2024

Share of enterprises
1.7%
Share of persons employed
14.7%
Share of turnover
18.6%

SSB publishes this for groups of industries only. The figures are for the group “Bygge- og anleggsvirksomhet”.

Production index · Bygge- og anleggsvirksomhet

96.8 index, 2021 = 100, seasonally adjusted · 2026M09
−0.9% against 2025M09.

Monthly, 2023M09 to 2026M09.

Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 13430. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.

Latest bankruptcies and liquidations

All bankruptcies and liquidations in the sector

Industry codes (NACE)

CodeDescription
41*Oppføring av bygninger (hele hovedgruppen)
41.000Oppføring av bygninger
42*Anleggsvirksomhet (hele hovedgruppen)
42.110Bygging av veier og motorveier
42.120Bygging av jernbaner og undergrunnsbaner
42.130Bygging av broer og tunneler
42.210Bygging av vann- og kloakkanlegg
42.221Bygging av anlegg for elektrisitet og telekommunikasjon til sjøs
42.222Bygging av anlegg for elektrisitet og telekommunikasjon på land
42.910Bygging av havne- og damanlegg
42.990Bygging av andre anlegg ikke nevnt annet sted
43*Spesialisert bygge- og anleggsvirksomhet (hele hovedgruppen)
43.110Riving av bygninger og andre byggverk
43.120Grunnarbeid
43.130Prøveboring
43.210Elektrisk installasjonsarbeid
43.221Rørleggerarbeid
43.222Kuldeanlegg-, varmepumpearbeid og installasjon av peiser
43.223Ventilasjonsarbeid
43.230Installasjon av isoleringsmateriale
43.240Annet installasjonsarbeid
43.310Stukkatørarbeid og pussing
43.320Snekkerarbeid
43.330Gulvlegging og tapetsering
43.340Maler- og glassarbeid
43.350Annen ferdiggjøring av bygninger
43.410Takarbeid
43.420Annen spesialisert byggevirksomhet i forbindelse med oppføring av bygninger
43.500Spesialisert byggevirksomhet i forbindelse med anleggsarbeid
43.600Formidlingstjenester innenfor spesialisert bygge- og anleggsvirksomhet
43.910Murerarbeid
43.990Annen spesialisert bygge- og anleggsvirksomhet ikke nevnt annet sted