Sector

Retail and wholesale

21,201 companies ranked against comparable companies in four Morning company classes. Fiscal year 2023. Source: Brønnøysund Register Centre. Methodology

Morning company class

Morning company classes are our own division by revenue, not an official standard: Micro NOK 1m–10 MNOK, Small 10 MNOK–50 MNOK, Medium 50 MNOK–500 MNOK, Large from 500 MNOK. Companies are ranked only against others in the same class, and every figure below is for the class you have chosen. What are Morning company classes?

Ranking · 2023 · Morning class Large

Morning class Large · 2023
#	Company	Profile	Score	Change
1	REKAP 1 ASsubsidiary of REITAN AS	Leader	95	–
2	PRETEC ASsubsidiary of PRETEC GROUP AS	Leader	94	–
3	RUN AS	Leader	93	–
4	OTTO OLSEN AS	Leader	92	–
5	SVERDRUP STEEL AS	Leader	92	–
6	BILTEMA NORGE AS	Leader	91	–
7	J A MAGNUSSEN ENGROS AS	Leader	91	–
8	CUBUS AS	Leader	89	–
9	FERD AS	Leader	89	–
10	TMC COMPRESSORS AS	Leader	89	–
11	MOTEK AS	Leader	89	–
12	CERTEX NORGE AS	Leader	88	–
13	ABK-QVILLER AS	Leader	88	–
14	NORCAR AS	Leader	88	–
15	ELLOS NORWAY AS	Leader	88	–
16	SN SEAFOOD AS	Leader	87	–
17	HYDROSCAND AS	Leader	87	–
18	K J BRUSDAL AS	Leader	87	–
19	FRITZØE ENGROS AS	Leader	87	–
20	REITAN RETAIL ASsubsidiary of REITAN AS	Leader	87	–
21	BRENNTAG NORDIC AS	Leader	86	–
22	ARROW NORWAY AS	Leader	85	–
23	A/S SØRENSEN OG BALCHEN	Leader	85	–
24	NG KIWI MØRE AS	Leader	84	–
25	NG KIWI ROMSDAL OG NORDMØRE AS	Leader	84	–
26	ASTRUP AS	Leader	84	–
27	TESS NORD AS	Leader	83	–
28	TESS ØST AS	Leader	83	–
29	ABBOTT NORGE AS	Leader	83	–
30	WENAAS WORKWEAR AS	Leader	83	–
31	GEIA FOOD AS	Leader	83	–
32	LEKEKASSEN AS	Leader	83	–
33	REITAN AS	Leader	82	–
34	ALIMENTA AS	Leader	81	–
35	MÅKESTAD ENGROS AS	Leader	81	–
36	BAYER AS	Leader	80	–
37	LÆRE AS	Leader	80	–
38	TESS SØR AS	Leader	80	–
39	ASTRAZENECA AS	Steward	80	–
40	FRESENIUS KABI NORGE AS	Steward	80	–
41	PRINCESS-GRUPPEN AS	Steward	79	–
42	SWEGON AS	Leader	79	–
43	NOVARTIS NORGE AS	Leader	78	–
44	COAST TROMSØ ASsubsidiary of COAST SEAFOOD AS	Leader	78	–
45	FJORDLAND AS	Leader	78	–
46	GC RIEBER MINERALS AS	Leader	78	–
47	URMAKER BJERKE AS	Leader	77	–
48	ITAB NORGE AS	Leader	77	–
49	NG KIWI VESTFOLD TELEMARK AS	Leader	77	–
50	JOHN DEERE FORESTRY AS	Leader	77	–

Download as CSV (opens in Excel)

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 Large

XXL SPORT & VILLMARK AS
From 2022 to 2023: the operating margin fell from −18.6% to −41.9% and the equity ratio fell from 30.0% to −15.9%.
−35
SYNOPTIK NORGE AS
From 2022 to 2023: went from a profit to a loss before tax and the operating margin fell from 4.0% to −0.4%.
−25
BEKO NORDIC AS
From 2022 to 2023: went from a loss to a profit before tax and the operating margin rose from −1.6% to 2.4%.
+16
XXL GROSSIST NORGE AS
From 2022 to 2023: went from a loss to a profit before tax and the operating margin rose from −1.4% to 17.9%.
+12

Top lists in the sector · 2023 · Morning class Large

The five largest companies account for 75% of the sector's revenue. Combined profit before tax for the 456 ranked companies: 329,736 MNOK.

Highest revenue

JYSK AS 2,948,054 MNOK
REMA DISTRIBUSJON NORGE AS 34,929 MNOK
ESSO NORGE AS 28,753 MNOK
LERØY SEAFOOD AS 23,485 MNOK
CIRCLE K NORGE AS 19,208 MNOK

Operating revenue.

Highest operating margin

FERD HOLDING AS 99.8%
REKAP 1 ASsubsidiary of REITAN AS 97.5%
REITAN AS 94.9%
FERD AS 91.7%
REITAN RETAIL ASsubsidiary of REITAN AS 88.0%

Operating result divided by operating revenue.

Largest profit

JYSK AS 293,676 MNOK
FERD AS 3,883 MNOK
FERD HOLDING AS 3,815 MNOK
REITAN AS 2,495 MNOK
Harald A Møller ASsubsidiary of MØLLER MOBILITY GROUP AS 1,518 MNOK

Profit before tax.

Largest loss

XXL SPORT & VILLMARK AS −1,234 MNOK
POWER INTERNATIONAL AS −731 MNOK
ESSO NORGE AS −450 MNOK
BERTEL O STEEN AS −386 MNOK
PLANTASJEN NORGE AS −325 MNOK

Profit before tax, the largest negative.

Most solid

REKAP 1 ASsubsidiary of REITAN AS 99.4%
FERD HOLDING AS 98.1%
ARROW NORWAY AS 95.5%
VARNER AS 94.9%
FERD AS 92.2%

Equity ratio: equity divided by total assets.

Fastest growth

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

Largest revenue decline

MB ENERGY AS −48.9%
HALTBAKK LOGISTICS AS −13.5%
XXL SPORT & VILLMARK AS −9.8%
FENOR AS −2.6%

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

Biggest climbers

BEKO NORDIC AS +16.0 points
XXL GROSSIST NORGE AS +12.2 points
MAN TRUCK & BUS NORGE AS +0.2 points

Change in index points from the year before.

Biggest fallers

XXL SPORT & VILLMARK AS −34.4 points
SYNOPTIK NORGE AS −24.7 points
MB ENERGY AS −7.5 points
HALTBAKK LOGISTICS AS −7.0 points
FENOR AS −2.9 points

Change in index points from the year before.

Most employees

Employees according to the Central Coordinating Register.

Highest revenue per employee

JYSK AS 2,243.6 MNOK
NORSK BUTIKKDRIFT AS 743.6 MNOK
PLATINA SEAFOOD AS 482.1 MNOK
ESSO NORGE AS 393.9 MNOK
CERTAS ENERGY FUELS AS 376.1 MNOK

Only companies with at least 5 employees.

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 · 2023 · Morning class Large

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.

Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2022 (small ring).

XXL GROSSIST NORGE AS profitability 42 → 98, solidity 70 → 59
XXL SPORT & VILLMARK AS profitability 10 → 1, solidity 56 → 0
SYNOPTIK NORGE AS profitability 65 → 12, solidity 65 → 58
FENOR AS profitability 28 → 4, solidity 24 → 21
MAN TRUCK & BUS NORGE AS profitability 53 → 40, solidity 27 → 7

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

Company	Profile	Profitability	Solidity	In 2022 (profitability / solidity)
TMC COMPRESSORS AS	Lion	99	78	–
BAYER AS	Lion	99	65	–
MARS NORGE AS	Cheetah	98	6	–
XXL GROSSIST NORGE AS	Lion	98	59	42 / 70
BRITISH AMERICAN TOBACCO NORWAY AS	Cheetah	97	8	–
KID INTERIØR AS	Cheetah	97	19	–
SYSTEMAIR AS	Lion	97	53	–
KARO PHARMA AS	Lion	97	58	–
L'OREAL NORGE AS	Cheetah	97	7	–
SØRLANDETS ELEKTRO ENGROS AS	Cheetah	97	6	–
EQOLOGY.NO AS	Cheetah	96	36	–
CLARIANT OIL SERVICES SCANDINAVIA AS	Cheetah	96	14	–
IMPERIAL BRANDS NORWAY AS	Cheetah	96	1	–
RUN AS	Lion	96	88	–
ASSA ABLOY OPENING SOLUTIONS NORWAY AS	Lion	96	63	–
SMARTOPTICS AS	Cheetah	95	33	–
A/S SØRENSEN OG BALCHEN	Lion	95	88	–
SWEDISH MATCH SALES NORWAY AS	Cheetah	95	1	–
NORMAL NORGE AS	Cheetah	95	45	–
SUBARU NORGE AS	Lion	94	79	–
PRETEC AS	Lion	94	94	–
3M NORGE AS	Lion	93	54	–
JYSK AS	Cheetah	93	38	–
NORGESDEKK AS	Lion	93	57	–
RED BULL NORWAY AS	Cheetah	92	40	–
OTTO OLSEN AS	Lion	92	91	–
SVERDRUP STEEL AS	Lion	92	89	–
BLIVAKKER.NO AS	Cheetah	92	38	–
AJ PRODUKTER AS	Cheetah	91	48	–
LEKEKASSEN AS	Lion	91	72	–
VINGMED AS	Cheetah	91	43	–
EIDE SEAFOOD AS	Cheetah	91	14	–
MALORAMA AS	Cheetah	90	25	–
Harald A Møller AS	Cheetah	90	23	–
BRENNTAG NORDIC AS	Lion	89	79	–
EET NORGE AS	Lion	89	54	–
NORCAR AS	Lion	89	80	–
TAKEDA AS	Lion	89	55	–
ROBERT BOSCH AS	Cheetah	88	27	–
ESSITY NORWAY AS	Cheetah	88	8	–
ØDEGAARD ENGROS AS	Lion	88	66	–
ABK-QVILLER AS	Lion	88	83	–
URMAKER BJERKE AS	Lion	87	67	–
REITAN RETAIL AS	Lion	87	85	–
GC RIEBER MINERALS AS	Lion	87	85	–
MOTEK AS	Lion	87	89	–
FJORDLAND AS	Lion	86	70	–
KOSAN GAS NORGE AS	Cheetah	86	16	–
VENTISTÅL AS	Cheetah	86	39	–
EUROPRIS AS	Lion	85	75	–
EMERSON AUTOMATION SOLUTIONS AS	Lion	85	56	–
HYDROSCAND AS	Lion	85	90	–
EUROBUS NORDIC AS	Cheetah	85	15	–
REKAP 1 AS	Lion	85	100	–
MENTO AS	Lion	84	60	–
SIGNIFY NORWAY AS	Cheetah	84	37	–
VOICE NORGE AS	Cheetah	84	22	–
LILLEBORG AS	Cheetah	84	26	–
EPIROC NORGE AS	Cheetah	83	46	–
CERTEX NORGE AS	Lion	83	88	–
CUBUS AS	Lion	83	92	–
ALIMENTA AS	Lion	83	74	–
WENAAS WORKWEAR AS	Lion	83	83	–
NORDISK INTERACTIVE AS	Cheetah	83	16	–
J A MAGNUSSEN ENGROS AS	Lion	83	93	–
SKEIDAR SUPPLY CHAIN AS	Cheetah	82	3	–
REITAN AS	Lion	82	99	–
FIRDA SEAFOOD AS	Cheetah	82	46	–
SJØFRISK NORGE AS	Cheetah	82	2	–
SCANDINAVIAN FITTINGS AND FLANGES AS	Lion	82	65	–
THANSEN AS	Lion	81	70	–
MEKO NORWAY AS	Cheetah	81	17	–
AVIATION FUELLING SERVICES NORWAY AS	Cheetah	81	27	–
IKEA AS	Cheetah	81	23	–
LÆRE AS	Lion	81	75	–
TOTALENERGIES MARKETING NORGE AS	Cheetah	80	5	–
DANFOSS AS	Cheetah	79	17	–
VIKEN AT MARKET AS	Cheetah	79	21	–
STORCASH NORGE AS	Lion	78	62	–
ABBOTT NORGE AS	Lion	78	85	–
TOOLS AS	Lion	78	61	–
NORSK GJENVINNING DOWNSTREAM AS	Cheetah	78	10	–
DR. OETKER NORGE AS	Cheetah	78	36	–
MASKE AS	Lion	78	59	–
PAULIG NORWAY AS	Cheetah	78	38	–
DELAVAL AS	Cheetah	78	6	–
FRITZØE ENGROS AS	Lion	78	97	–
HELLY HANSEN AS	Lion	78	66	–
BONAVENTURA SALES AS	Cheetah	78	18	–
BILTEMA NORGE AS	Lion	78	98	–
ELLOS NORWAY AS	Lion	77	91	–
GEIA FOOD AS	Lion	77	82	–
STOK AS	Lion	77	73	–
ORKLA HEALTH AS	Cheetah	77	32	–
I K LYKKE DRIFT AS	Lion	77	83	–
GRIEG SEAFOOD SALES AS	Cheetah	77	20	–
K J BRUSDAL AS	Lion	76	91	–
BAMA STORKJØKKEN OSLO AS	Lion	76	51	–
HAUGEN - GRUPPEN AS	Lion	75	61	–
TESS SØR AS	Lion	75	79	–
KINNARPS AS	Lion	75	61	–
SERVICEGROSSISTEN ØST AS	Lion	75	55	–
JANSSEN-CILAG AS	Cheetah	75	16	–
MESTERGRUPPEN BYGGEVARE AS	Cheetah	75	23	–
TESS VEST AS	Lion	74	74	–
Lindab A/S	Lion	74	66	–
ICE SEAFOOD AS	Lion	74	57	–
VITA GROUP AS	Cheetah	74	33	–
EIKMASKIN AS	Cheetah	74	34	–
ECO- 1 BIOENERGI AS	Cheetah	74	12	–
GET INSPIRED AS	Lion	74	65	–
SN SEAFOOD AS	Lion	73	93	–
SPORT HOLDING RETAIL AS	Cheetah	73	42	–
SWEGON AS	Lion	72	80	–
KAPPAHL AS	Cheetah	72	41	–
SERVI AS	Lion	72	78	–
NG KIWI ROMSDAL OG NORDMØRE AS	Lion	72	90	–
GASUM AS	Cheetah	72	28	–
TOYOTA ROMERIKE AS	Cheetah	71	41	–
KINLY AS	Cheetah	71	9	–
NAMRON AS	Cheetah	71	44	–
TOYOTA ØSTFOLD AS	Cheetah	71	41	–
HALLGRUPPEN AS	Cheetah	71	38	–
APOTEK 1 GRUPPEN AS	Cheetah	71	8	–
NG KIWI BUSKERUD AS	Lion	71	72	–
FERD HOLDING AS	Lion	71	100	–
FERD AS	Lion	71	99	–
RUSTA RETAIL AS	Lion	70	51	–
ALSO AS	Cheetah	70	48	–
JOHS OLSEN AS	Lion	70	57	–
BLUE ENERGY AS	Lion	70	60	–
HOME BRANDS AS	Lion	70	58	–
Dressmann A/S	Lion	70	78	–
TESS ØST AS	Lion	70	94	–
NG KIWI INNLAND AS	Lion	70	73	–
LYKO AS	Cheetah	70	42	–
JOHN DEERE FORESTRY AS	Lion	70	76	–
MB ENERGY AS	Cheetah	69	40	73 / 37
NORLI AS	Cheetah	69	49	–
TESS NORD AS	Lion	69	93	–
NG KIWI MØRE AS	Lion	69	96	–
BESTSELLER STORES NORWAY AS	Lion	69	80	–
SANOFI-AVENTIS NORGE AS	Cheetah	69	3	–
ADIDAS NORGE AS	Cheetah	69	34	–
KJOSAVIK AS	Lion	69	62	–
SIEMENS HEALTHCARE AS	Lion	68	65	–
HESSELBERG AS	Cheetah	68	29	–
ICE FISH AS	Lion	68	63	–
SULLAND DRAMMEN AS	Lion	68	58	–
VARTDAL PLASTINDUSTRI AS	Lion	68	50	–
MSD (NORGE) AS	Cheetah	67	24	–
MÅKESTAD ENGROS AS	Lion	67	90	–
DRIV ENERGI AS	Cheetah	67	10	–
BAXT AS	Cheetah	67	18	–
OCEAN SUPREME AS	Lion	66	67	–
BAMA STORKJØKKEN AS	Cheetah	66	47	–
BARE FRUKT & GRØNT AS	Cheetah	66	13	–
NDI NORGE AS	Lion	66	54	–
STARCO NORGE AS	Cheetah	65	48	–
NG KIWI OSLO AKERSHUS AS	Lion	65	63	–
Elkem International AS	Lion	64	69	–
FREDRIK & LOUISA AS	Lion	64	57	–
SOLAR NORGE AS	Lion	64	84	–
H & M HENNES & MAURITZ AS	Cheetah	64	11	–
SYNSAM GROUP NORWAY AS	Lion	63	64	–
OLUF LORENTZEN AS	Lion	63	77	–
AS NESTLÉ NORGE	Cheetah	63	5	–
EUROPRIS BUTIKKDRIFT AS	Cheetah	63	17	–
SANDVIK NORGE AS	Cheetah	63	17	–
NG KIWI ROGALAND AS	Lion	62	83	–
NG KIWI VESTFOLD TELEMARK AS	Lion	62	88	–
MUSTI NORGE AS	Cheetah	62	43	–
COAST TROMSØ AS	Lion	62	87	–
PLATINA SEAFOOD AS	Cheetah	62	17	–
STIM AS	Cheetah	62	9	–
SOLARIS NORGE AS	Cheetah	61	0	–
Brødrene Dahl A/S	Cheetah	61	44	–
WHITEAWAY.NO AS	Lion	60	97	–
NORWEGIAN SEAFOOD COMPANY AS	Lion	60	77	–
PLANTASJEN SOURCE NORGE AS	Lion	60	55	–
ASTRUP AS	Lion	60	95	–
SJØMATKOMPANIET AS	Cheetah	59	37	–
H.I. GIØRTZ SØNNER AS	Lion	59	87	–
NORDIC WILDFISH SALES AS	Lion	59	52	–
WEST-NORWAY AS	Cheetah	59	21	–
RITUALS COSMETICS NORWAY AS	Lion	59	51	–
CERTEGO AS	Cheetah	59	31	–
KRAEMER MARITIME AS	Cheetah	59	28	–
VILLA SEAFOOD AS	Cheetah	58	39	–
TESS LOGISTIKK AS	Cheetah	58	31	–
STADSSALG AS	Lion	58	98	–
ARROW NORWAY AS	Lion	58	100	–
INEOS SALES NORGE AS	Cheetah	57	33	–
BUNKER OIL BERGEN AS	Lion	57	73	–
TOYOTA SØRVEST AS	Cheetah	57	34	–
BAMA DAGLIGVARE AS	Cheetah	57	11	–
K. EKRHEIM AS	Lion	56	73	–
VOLVO MASKIN AS	Cheetah	56	31	–
LÅSSENTERET AS	Lion	56	69	–
BILPAVILJONGEN AS	Lion	56	54	–
NG KIWI AGDER AS	Lion	56	84	–
POLAR SEAFROZEN AS	Cheetah	55	26	–
JUNGHEINRICH NORGE AS	Cheetah	55	41	–
ASKO HEDMARK AS	Lion	55	68	–
BSH HUSHOLDNINGSAPPARATER AS	Cheetah	55	15	–
MOLGAS NORWAY AS	Lion	55	93	–
ASKO VEST AS	Lion	55	60	–
ONNINEN AS	Lion	55	97	–
NG KIWI VEST AS	Lion	55	84	–
NORWEGIAN MOBILITY GROUP AS	Cheetah	54	46	–
KVARØY SALMON AS	Cheetah	54	2	–
IKM FLUX AS	Cheetah	54	8	–
GINA TRICOT AS	Cheetah	54	14	–
ASKO VESTFOLD TELEMARK AS	Lion	54	54	–
COLDWATER PRAWNS OF NORWAY AS	Cheetah	54	5	–
ITAB NORGE AS	Lion	54	89	–
MEGAFLIS AS	Lion	54	76	–
KITCH'N AS	Cheetah	53	35	–
BERTEL O. STEEN TRUCKS & BUSES AS	Cheetah	53	33	–
ROCHE DIAGNOSTICS NORGE AS	Lion	53	74	–
KOMPLETT SERVICES AS	Cheetah	53	45	–
NG MENY MIDT-NORGE AS	Lion	53	76	–
BARILLA NORGE AS	Cheetah	52	43	–
JULA NORGE AS	Lion	52	59	–
NORSK BUTIKKDRIFT AS	Lion	52	92	–
GLAXOSMITHKLINE AS	Lion	52	68	–
MARINE SUPPLY AS	Lion	52	77	–
NOVARTIS NORGE AS	Lion	52	89	–
LINDEX AS	Lion	52	87	–
TOYOTA BILIA AS	Cheetah	52	49	–
ASKO MOLDE AS	Lion	52	71	–
MIDT-NORGE MASKINSENTER AS	Cheetah	52	27	–
AHLSELL NORGE AS	Lion	52	62	–
ASKO OSLO AS	Cheetah	52	19	–
ROCHE NORGE AS	Lion	51	52	–
POLAR QUALITY AS	Cheetah	51	37	–
TENARIS GLOBAL SERVICES NORWAY AS	Cheetah	51	30	–
INTER SEA AS	Lion	51	77	–
NG MENY ØST AS	Lion	51	65	–
MØLLER BIL TRØNDELAG AS	Cheetah	51	22	–
BESTSELLER AS	Cheetah	51	20	–
NG KIWI ØST AS	Lion	51	85	–
BEKO NORDIC AS	Cheetah	50	2	31 / 0
WESTCOAST AS	Lion	50	68	–
MSD ANIMAL HEALTH NORGE AS	Cheetah	50	29	–
XYLEM WATER SOLUTIONS NORGE AS	Cheetah	50	25	–
LERØY SEAFOOD AS	Cheetah	50	13	–
VESO AS	Beaver	50	32	–
TORE LIGAARD AS	Elephant	49	85	–
JÆGER SENTRUM AS	Elephant	49	59	–
ASKO AGDER AS	Elephant	49	71	–
NORTØMMER AS	Elephant	49	56	–
ZEPPELIN POWER SYSTEMS NORWAY AS	Beaver	49	23	–
GC RIEBER DISTRIBUTION AS	Beaver	49	36	–
ARROW ECS NORWAY AS	Beaver	49	24	–
JELD-WEN NORGE AS	Beaver	49	20	–
ATEA AS	Beaver	49	26	–
NG KIWI MIDT-NORGE AS	Elephant	48	86	–
PRINCESS-GRUPPEN AS	Elephant	48	96	–
UNITED BAKERIES NORWAY AS	Elephant	48	82	–
NOVO NORDISK NORWAY AS	Beaver	48	1	–
VOLVO CAR STOR-OSLO AS	Beaver	48	43	–
ASTRAZENECA AS	Elephant	48	98	–
RUTEBILEIERNES STANDARDISERINGSAKSJESELSKAP	Elephant	48	57	–
Berggård Amundsen & Co AS	Elephant	48	67	–
AGRI MIDT-NORGE AS	Beaver	48	36	–
AIRPORT RETAIL NORWAY AS	Beaver	46	30	–
MEDTRONIC NORGE AS	Elephant	46	95	–
FRESENIUS KABI NORGE AS	Elephant	46	97	–
MESTER GRØNN AS	Elephant	45	87	–
GEBERIT AS	Elephant	45	60	–
SUNDE EPS AS	Elephant	45	67	–
WÜRTH NORGE AS	Elephant	44	93	–
SKAAR NORWAY AS	Beaver	44	48	–
RESPONSE NORDIC AS	Beaver	44	43	–
CONTINENTAL DEKK NORGE AS	Beaver	44	13	–
STAR SEAFOOD AS	Beaver	44	26	–
HALEON NORWAY AS	Beaver	44	37	–
NOR SEAFOODS AS	Beaver	44	35	–
DRIV ENERGI MIDT-NORGE AS	Beaver	44	34	–
BRAVO SEAFOOD AS	Beaver	43	30	–
ASKO ROGALAND AS	Elephant	43	75	–
HEDIN AUTOMOTIVE BAVARIA AS	Elephant	42	51	–
BUNKER OIL AS	Elephant	42	60	–
VARNER AS	Elephant	42	99	–
KNAPPHUS ENERGI AS	Beaver	42	46	–
CHEFFELO NORWAY AS	Elephant	41	92	–
NORDIC GROUP AS	Beaver	40	28	–
AIR BP NORWAY AS	Elephant	40	72	–
Aktieselskapet Vinmonopolet	Beaver	40	29	–
MAN TRUCK & BUS NORGE AS	Beaver	40	7	53 / 27
HALTBAKK LOGISTICS AS	Beaver	40	11	50 / 23
NORWEGIAN AGRO MACHINERY AS	Beaver	40	2	–
EPLEHUSET NORGE AS	Elephant	40	63	–
NILLE AS	Elephant	40	75	–
COD-EXPORT AS	Beaver	40	35	–
ORIFARM HEALTHCARE AS	Beaver	40	20	–
SCHNEIDER ELECTRIC NORGE AS	Elephant	40	55	–
ASKO NORD AS	Elephant	39	86	–
INPUT INTERIOR NORWAY AS	Beaver	39	19	–
GLOBAL SALES AS	Elephant	39	77	–
SULLAND AUTO AS	Beaver	38	50	–
OPTIMERA AS	Beaver	38	26	–
NORDLAKS SALES AS	Beaver	38	11	–
MONDELEZ NORGE AS	Elephant	38	78	–
PREEM NORGE AS	Elephant	38	53	–
COAST SEAFOOD AS	Elephant	38	84	–
REMA DISTRIBUSJON IMPORT AS	Beaver	37	42	–
SEKKINGSTAD AS	Beaver	37	42	–
MØLLER BIL ROMERIKE AS	Beaver	37	22	–
SULLAND ØSTFOLD AS	Beaver	37	32	–
NORWELL AS	Beaver	37	39	–
Akershus Traktor A/S	Beaver	37	35	–
KOMPLETT DISTRIBUSJON AS	Elephant	37	68	–
TESLA NORWAY AS	Beaver	37	12	–
Miele A/S	Elephant	36	82	–
LINDBAK OFFICE AS	Elephant	36	75	–
EXCLUSIVE NETWORKS NORWAY AS	Beaver	36	10	–
WULFF & CO AS	Beaver	36	23	–
HARILA AS	Beaver	35	44	–
NASTA AS	Beaver	35	45	–
NERGÅRD SEAFOOD AS	Beaver	35	7	–
ALLIANCE HEALTHCARE NORGE AS	Beaver	35	49	–
ASKO SENTRALLAGER KJØL AS	Beaver	34	38	–
FRAM SEAFOOD AS	Beaver	34	40	–
UNIL AS	Beaver	34	39	–
NG MENY ØSTLANDET AS	Elephant	33	72	–
OLJELEVERANDØREN AS	Beaver	33	41	–
XPENG MOTORS (NORWAY) AS	Beaver	33	3	–
SAS OIL NORWAY AS	Beaver	32	1	–
NOKIAN DEKK AS	Beaver	32	46	–
BAMA GRUPPEN AS	Beaver	32	50	–
PFIZER AS	Elephant	31	70	–
AS BLOMSTERRINGEN ENGROS	Elephant	31	64	–
DAGLIGVARE GRUPPEN TROMSØ AS	Elephant	31	92	–
BERGEN BUNKERS AS	Elephant	30	52	–
SEABORN AS	Beaver	29	36	–
VB HANDEL AS	Beaver	29	12	–
TEKNISK BUREAU AS	Elephant	29	53	–
ALLIANCE HEALTHCARE NORGE APOTEKDRIFT AS	Elephant	29	81	–
ASKO OPPLAND AS	Elephant	29	61	–
NORTH SEA SEAFOOD AS	Beaver	28	13	–
REMA DISTRIBUSJON NORGE AS	Beaver	28	31	–
POWER NORGE AS	Elephant	28	56	–
DUSTIN NORWAY AS	Beaver	28	25	–
HP NORGE AS	Elephant	27	69	–
FORD MOTOR NORGE AS	Beaver	27	7	–
ASKO MIDT-NORGE AS	Elephant	27	71	–
HOFSETH SALES AS	Beaver	26	2	–
ALFA LAVAL NORDIC AS	Elephant	26	99	–
BMW NORGE AS	Beaver	26	30	–
ENTRACK AS	Beaver	26	24	–
ELEKTROIMPORTØREN NORGE AS	Beaver	25	29	–
TD SYNNEX NORWAY AS	Beaver	25	19	–
RØRKJØP AS	Elephant	25	50	–
BAMA BLOMSTER SOURCING AS	Beaver	25	14	–
TEXCON AS	Elephant	24	51	–
D. DANIELSEN AS	Beaver	24	35	–
NG MENY VEST AS	Elephant	24	90	–
HEWLETT-PACKARD NORGE AS	Beaver	24	11	–
NEUMANN BYGG AS	Beaver	24	21	–
BOHUS LOGISTIKK AS	Beaver	24	12	–
POLESTAR AUTOMOTIVE NORWAY AS	Beaver	24	19	–
NORWEGIAN SEAFOOD AS	Beaver	23	7	–
XL-BYGG SØRVEST AS	Beaver	23	32	–
BYGGFAG AS	Beaver	23	28	–
LIEBHERR-NORGE AS	Beaver	23	4	–
BIL I NORD AS	Beaver	23	40	–
SCANFISH NORWAY AS	Beaver	23	33	–
VIATRIS AS	Beaver	23	6	–
MHSERVICE AS	Beaver	22	40	–
NG SPAR ØST AS	Elephant	22	96	–
COUNT ENERGY TRADING AS	Beaver	22	6	–
NORGESGRUPPEN SPAR MIDT-NORGE AS	Elephant	22	97	–
STORA ENSO SKOG AS	Elephant	22	81	–
ASKO ØST AS	Elephant	21	62	–
BERTEL O. STEEN LASTEBIL OG BUSS AS	Beaver	20	48	–
LERØY NORGE AS	Elephant	20	74	–
BR KARLSEN SALES AS	Beaver	20	4	–
MRC GLOBAL NORWAY AS	Elephant	20	87	–
SJOR AS	Beaver	19	25	–
HEIDENREICH AS	Elephant	19	71	–
VOLVO CAR NORWAY AS	Beaver	19	10	–
FJELLSPORT AS	Elephant	19	80	–
ST1 NORGE AS	Elephant	19	72	–
NORTH EUROPEAN OIL TRADE AS	Beaver	18	4	–
SNUSHJEM.NO AS	Beaver	18	37	–
AUTORINGEN OSLO AS	Beaver	18	9	–
NORGESGRUPPEN ØST AS	Elephant	17	98	–
NG SPAR ROGALAND AS	Elephant	17	95	–
NORPOT AS	Beaver	17	9	–
NORGESGRUPPEN ASA	Elephant	17	66	–
ASKO OSLOFJORD AS	Beaver	17	47	–
OUTLET GROUP AS	Beaver	16	5	–
EATON ELECTRIC AS	Elephant	16	67	–
CERTAS ENERGY FUELS AS	Beaver	16	50	–
BYGGMAKKER HANDEL AS	Elephant	16	81	–
T MYHRVOLD AS	Beaver	16	47	–
NG SPAR VEST AS	Elephant	15	95	–
KNAPPHUS ENERGI BERGEN AS	Beaver	15	22	–
ASKO SENTRALLAGER OG TRANSPORT AS	Beaver	14	31	–
AGDER OLJE AS	Beaver	14	14	–
FOXWAY AS	Elephant	14	79	–
ELECTROLUX HOME PRODUCTS NORWAY AS	Beaver	14	9	–
MODINO AS	Beaver	14	49	–
CIRCLE K NORGE AS	Beaver	13	47	–
ZEPPELIN CONSTRUCTION EQUIPMENT NORWAY AS	Beaver	13	15	–
JERNIA AS	Elephant	13	80	–
CERTAS ENERGY NORWAY AS	Elephant	13	70	–
EUROSKO GRUPPEN AS	Elephant	12	92	–
EPTA REFRIGERATION NORWAY AS	Elephant	12	70	–
HAVI LOGISTICS AS	Beaver	12	4	–
CANON NORGE AS	Elephant	12	69	–
NK ENERGI AS	Beaver	12	15	–
UNO-X MOBILITY NORGE AS	Beaver	12	4	–
SYNOPTIK NORGE AS	Elephant	12	58	65 / 65
SPORT HOLDING AS	Elephant	11	52	–
ARK BOKHANDEL AS	Elephant	11	53	–
NG KIWI NORD AS	Elephant	10	90	–
NG MENY VESTFOLD TELEMARK AS	Elephant	10	95	–
VIANOR AS	Beaver	10	45	–
ZAPTEC CHARGER AS	Beaver	10	12	–
KIA BIL NORGE AS	Elephant	10	69	–
NORGESGRUPPEN DATA AS	Beaver	9	30	–
NG SPAR INNLAND AS	Elephant	9	94	–
GRANDAHL BIL AS	Elephant	9	96	–
Gausdal Landhandleri AS	Elephant	9	81	–
VINHUSET AS	Elephant	8	64	–
AS SPAR KJØP	Elephant	8	83	–
HELGØ MENY ROGALAND AS	Elephant	8	86	–
NG MENY ØSTFOLD AS	Elephant	8	82	–
KROKEN CARAVAN AS	Beaver	7	18	–
ESSO NORGE AS	Beaver	7	27	–
CDS NORGE AS	Elephant	7	94	–
WILLIKSEN EXPORT AS	Beaver	6	0	–
BERTEL O STEEN MØRE OG ROMSDAL AS	Elephant	6	55	–
HELLOFRESH NORWAY AS	Elephant	6	64	–
BERTEL O STEEN AS	Elephant	6	62	–
TECHSTEP NORWAY AS	Elephant	6	59	–
KOLLY AS	Beaver	6	16	–
BIK BOK AS	Elephant	6	98	–
EASEE AS	Elephant	6	82	–
E.A. SMITH AS	Beaver	6	44	–
AUTORIA BIL AS	Beaver	6	45	–
NG MENY BUSKERUD AS	Elephant	5	76	–
NG MENY SØR AS	Elephant	5	86	–
FENOR AS	Beaver	4	21	28 / 24
BARNAS HUS NORGE AS	Beaver	4	21	–
MEDIVATUS AS	Beaver	4	0	–
PLANTASJEN NORGE AS	Elephant	4	79	–
JERNIA DETALJ AS	Elephant	4	64	–
DEKKTEAM AS	Elephant	3	88	–
TRAVEL RETAIL NORWAY AS	Beaver	3	18	–
LYRECO NORGE AS	Elephant	3	74	–
ORICA NORWAY AS	Elephant	3	91	–
MAXBO AS	Beaver	2	24	–
POWER INTERNATIONAL AS	Beaver	2	0	–
ACTIVE BRANDS AS	Beaver	2	28	–
FLISEKOMPANIET AS	Elephant	2	56	–
PORSCHE NORGE AS	Beaver	2	16	–
BESTDRIVE NORWAY AS	Beaver	2	25	–
ODA NORWAY AS	Beaver	1	3	–
XXL SPORT & VILLMARK AS	Beaver	1	0	10 / 56
FARMASIET AS	Beaver	1	0	–
NIO NORWAY AS	Beaver	0	0	–

The sector in numbers

Summary · fiscal year 2023 · Morning class Large

The sector's median operating margin is 2.3%. 8 of 468 companies have negative equity. The median equity ratio is 28.7%.

Companies with accounts468

Total revenue4,099,411 MNOK

Median operating margin2.3%

Median equity ratio28.7%

Share with a loss15%

Share with negative equity2%

All figures are for fiscal year 2023. Ranked: 465 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

The total counts each group once: 9 subsidiaries (30,747 MNOK in revenue) are left out of totals and size lists because their parent in the sector has at least as much revenue, so their sales can run through the parent. They are ranked as usual. Methodology

7 companies report in another currency. Their revenue is converted at the mean rate for the accounting period and makes up 1% of the total.

Climbers and fallers · Morning class Large

Change in rank from 2022 to 2023, for 8 companies ranked in both years.

Climbers

None.

Fallers

457XXL SPORT & VILLMARK ASfrom rank 4 to 4616
401FENOR ASfrom rank 7 to 40826
400HALTBAKK LOGISTICS ASfrom rank 6 to 40626
334MB ENERGY ASfrom rank 3 to 33737
326MAN TRUCK & BUS NORGE ASfrom rank 5 to 33138

Awards · 2023 · Morning class Large

Most profitableFERD HOLDING AS99.8%

Fastest growthMAN TRUCK & BUS NORGE AS36.8%

Strongest balance sheetREKAP 1 AS99.4%

Largest revenueJYSK AS2,948,054 MNOK

Highest revenue per employeeJYSK AS2,243.6 MNOK

Needs attention · 2023 · Morning class Large

155 companies show at least one warning sign. Showing the 15 most important.

criticalPOWER INTERNATIONAL ASNegative equity · Current ratio below 1 (0.60) · Loss before tax
criticalXXL SPORT & VILLMARK ASNegative equity · Current ratio below 1 (0.76) · Loss before tax
criticalLENTUS BUTIKKDRIFT ASNegative equity · Current ratio below 1 (0.86) · Loss before tax
criticalFARMASIET ASNegative equity · Current ratio below 1 (0.37) · Loss before tax
criticalNIO NORWAY ASNegative equity · Current ratio below 1 (0.31) · Loss before tax
criticalWILLIKSEN EXPORT ASNegative equity · Loss before tax
criticalMEDIVATUS ASNegative equity · Loss before tax
criticalSOLARIS NORGE ASNegative equity
watchUNO-X MOBILITY NORGE ASVery low equity ratio (2.1%) · Current ratio below 1 (0.59) · Loss before tax
watchODA NORWAY ASVery low equity ratio (1.4%) · Current ratio below 1 (0.40) · Loss before tax
watchNORWEGIAN AGRO MACHINERY ASVery low equity ratio (1.1%) · Current ratio below 1 (0.90) · Loss before tax
watchLIEBHERR-NORGE ASVery low equity ratio (1.8%) · Current ratio below 1 (0.79) · Loss before tax
watchCIRCLE K NORGE ASCurrent ratio below 1 (0.61) · Loss before tax
watchST1 NORGE ASCurrent ratio below 1 (0.99) · Loss before tax
watchAPOTEK 1 GRUPPEN ASVery low equity ratio (7.1%) · Current ratio below 1 (0.75)

Sector map · 2023 · Morning class Large

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.

Show the map's figures as a table

Company	Operating margin	Equity ratio	Revenue
REKAP 1 AS	97.5%	99.4%	1,265 MNOK
PRETEC AS	19.3%	66.8%	608 MNOK
RUN AS	15.2%	58.3%	679 MNOK
OTTO OLSEN AS	17.9%	61.5%	576 MNOK
SVERDRUP STEEL AS	13.2%	59.2%	1,706 MNOK
BILTEMA NORGE AS	6.6%	82.8%	5,270 MNOK
J A MAGNUSSEN ENGROS AS	11.0%	64.6%	982 MNOK
CUBUS AS	5.8%	64.6%	2,385 MNOK
FERD AS	91.7%	92.2%	4,289 MNOK
TMC COMPRESSORS AS	29.3%	48.1%	819 MNOK
MOTEK AS	9.5%	58.7%	1,330 MNOK
CERTEX NORGE AS	7.9%	57.0%	607 MNOK
ABK-QVILLER AS	10.4%	52.2%	949 MNOK
NORCAR AS	5.6%	49.1%	581 MNOK
ELLOS NORWAY AS	5.3%	60.8%	628 MNOK
SN SEAFOOD AS	3.2%	65.2%	781 MNOK
HYDROSCAND AS	9.1%	60.3%	736 MNOK
K J BRUSDAL AS	5.7%	60.5%	521 MNOK
FRITZØE ENGROS AS	7.1%	73.2%	1,112 MNOK
REITAN RETAIL AS	88.0%	53.6%	1,690 MNOK
BRENNTAG NORDIC AS	9.4%	48.6%	541 MNOK
ARROW NORWAY AS	7.0%	95.5%	1,394 MNOK
A/S SØRENSEN OG BALCHEN	22.0%	58.0%	591 MNOK
NG KIWI MØRE AS	3.5%	70.4%	1,481 MNOK
NG KIWI ROMSDAL OG NORDMØRE AS	4.5%	59.4%	1,094 MNOK
ASTRUP AS	3.6%	69.2%	1,081 MNOK
TESS NORD AS	5.9%	65.1%	1,056 MNOK
TESS ØST AS	6.4%	67.9%	783 MNOK
ABBOTT NORGE AS	6.0%	53.2%	509 MNOK
WENAAS WORKWEAR AS	9.0%	51.6%	853 MNOK
GEIA FOOD AS	4.6%	50.8%	923 MNOK
LEKEKASSEN AS	13.1%	43.1%	507 MNOK
REITAN AS	94.9%	91.1%	2,621 MNOK
ALIMENTA AS	5.7%	45.6%	543 MNOK
MÅKESTAD ENGROS AS	5.3%	60.4%	570 MNOK
BAYER AS	40.7%	38.4%	1,885 MNOK
LÆRE AS	5.4%	46.2%	806 MNOK
TESS SØR AS	6.1%	49.0%	602 MNOK
ASTRAZENECA AS	3.1%	77.5%	750 MNOK
FRESENIUS KABI NORGE AS	1.6%	76.0%	2,271 MNOK
PRINCESS-GRUPPEN AS	3.4%	70.0%	980 MNOK
SWEGON AS	4.3%	49.3%	696 MNOK
NOVARTIS NORGE AS	3.2%	58.5%	1,276 MNOK
COAST TROMSØ AS	1.6%	55.7%	535 MNOK
FJORDLAND AS	6.1%	41.2%	1,998 MNOK
GC RIEBER MINERALS AS	8.7%	53.2%	912 MNOK
URMAKER BJERKE AS	8.9%	39.8%	520 MNOK
ITAB NORGE AS	2.6%	58.9%	516 MNOK
NG KIWI VESTFOLD TELEMARK AS	3.0%	57.3%	2,767 MNOK
JOHN DEERE FORESTRY AS	3.9%	46.8%	579 MNOK
H.I. GIØRTZ SØNNER AS	2.2%	56.5%	4,305 MNOK
WÜRTH NORGE AS	3.1%	65.3%	2,057 MNOK
ØDEGAARD ENGROS AS	8.0%	39.1%	525 MNOK
SERVI AS	6.2%	48.1%	702 MNOK
NORGESDEKK AS	13.4%	32.2%	1,104 MNOK
BESTSELLER STORES NORWAY AS	4.2%	49.1%	594 MNOK
WHITEAWAY.NO AS	2.1%	73.7%	709 MNOK
MOLGAS NORWAY AS	6.8%	66.2%	1,609 MNOK
OLUF LORENTZEN AS	3.4%	48.0%	915 MNOK
I K LYKKE DRIFT AS	19.5%	51.7%	673 MNOK
KARO PHARMA AS	23.6%	33.6%	692 MNOK
GET INSPIRED AS	5.7%	38.6%	656 MNOK
TORE LIGAARD AS	2.8%	53.6%	518 MNOK
SCANDINAVIAN FITTINGS AND FLANGES AS	8.7%	38.4%	803 MNOK
LINDEX AS	2.4%	55.4%	1,448 MNOK
TESS VEST AS	6.1%	45.5%	1,065 MNOK
NG KIWI ROGALAND AS	2.8%	51.5%	3,654 MNOK
NG KIWI AGDER AS	2.5%	52.4%	2,709 MNOK
TAKEDA AS	8.8%	30.9%	1,618 MNOK
MENTO AS	6.6%	35.9%	795 MNOK
SUBARU NORGE AS	11.3%	48.8%	506 MNOK
NG KIWI VEST AS	2.3%	52.3%	4,647 MNOK
FERD HOLDING AS	99.8%	98.1%	3,818 MNOK
XXL GROSSIST NORGE AS	17.9%	34.0%	3,402 MNOK
ASSA ABLOY OPENING SOLUTIONS NORWAY AS	14.8%	37.3%	563 MNOK
THANSEN AS	5.4%	41.7%	771 MNOK
NG KIWI ØST AS	2.1%	53.5%	3,346 MNOK
ALFA LAVAL NORDIC AS	1.6%	91.0%	594 MNOK
NORWEGIAN SEAFOOD COMPANY AS	2.5%	47.6%	1,115 MNOK
ONNINEN AS	5.2%	72.2%	3,645 MNOK
EUROPRIS AS	13.0%	45.9%	6,171 MNOK
K. EKRHEIM AS	1.7%	44.6%	1,970 MNOK
EMERSON AUTOMATION SOLUTIONS AS	9.2%	32.1%	627 MNOK
MEGAFLIS AS	3.2%	46.2%	2,115 MNOK
EET NORGE AS	6.7%	30.2%	536 MNOK
NG KIWI MIDT-NORGE AS	2.0%	54.6%	2,646 MNOK
HELLY HANSEN AS	13.5%	39.3%	3,853 MNOK
BUNKER OIL BERGEN AS	2.8%	44.8%	522 MNOK
HAUGEN - GRUPPEN AS	6.0%	36.4%	1,536 MNOK
DAGLIGVARE GRUPPEN TROMSØ AS	1.1%	62.0%	1,473 MNOK
STOK AS	5.0%	44.5%	537 MNOK
Elkem International AS	4.4%	40.4%	935 MNOK
TOOLS AS	3.7%	36.0%	2,316 MNOK
3M NORGE AS	11.5%	30.5%	1,014 MNOK
SOLAR NORGE AS	4.3%	52.3%	3,161 MNOK
JOHS OLSEN AS	4.5%	33.0%	772 MNOK
KINNARPS AS	5.2%	36.0%	688 MNOK
INTER SEA AS	1.8%	47.7%	618 MNOK
ROCHE DIAGNOSTICS NORGE AS	2.7%	45.6%	609 MNOK
Lindab A/S	4.6%	39.3%	682 MNOK
KJOSAVIK AS	4.8%	37.1%	900 MNOK
SYSTEMAIR AS	17.5%	30.1%	654 MNOK
SMARTOPTICS AS	14.8%	20.3%	620 MNOK
OCEAN SUPREME AS	2.7%	39.4%	1,911 MNOK
NG SPAR ØST AS	0.8%	70.2%	859 MNOK
MESTER GRØNN AS	2.3%	55.5%	1,693 MNOK
COAST SEAFOOD AS	1.4%	52.6%	5,897 MNOK
NG KIWI BUSKERUD AS	3.4%	43.5%	4,653 MNOK
WESTCOAST AS	1.5%	40.0%	931 MNOK
ICE SEAFOOD AS	2.3%	32.9%	1,063 MNOK
NG KIWI INNLAND AS	3.4%	44.5%	6,113 MNOK
LÅSSENTERET AS	4.3%	40.4%	871 MNOK
STORCASH NORGE AS	4.0%	36.9%	1,877 MNOK
ICE FISH AS	1.8%	37.8%	1,348 MNOK
AJ PRODUKTER AS	9.5%	27.8%	569 MNOK
SERVICEGROSSISTEN ØST AS	3.9%	31.0%	1,081 MNOK
Berggård Amundsen & Co AS	−0.4%	39.7%	2,788 MNOK
RUSTA RETAIL AS	6.9%	29.0%	2,093 MNOK
BIK BOK AS	−4.1%	77.9%	557 MNOK
GRANDAHL BIL AS	−0.6%	71.8%	642 MNOK
FIRDA SEAFOOD AS	4.8%	27.0%	2,111 MNOK
NG KIWI OSLO AKERSHUS AS	2.9%	37.4%	10,119 MNOK
SULLAND DRAMMEN AS	2.7%	33.3%	1,037 MNOK
SUNDE EPS AS	1.0%	39.4%	953 MNOK
GLOBAL SALES AS	−0.1%	48.0%	620 MNOK
UNITED BAKERIES NORWAY AS	1.8%	50.1%	732 MNOK
BAMA STORKJØKKEN OSLO AS	3.8%	29.2%	927 MNOK
Miele A/S	2.1%	50.1%	509 MNOK
EPIROC NORGE AS	4.9%	26.7%	966 MNOK
ASKO MOLDE AS	1.9%	41.8%	2,724 MNOK
NAMRON AS	4.4%	25.8%	1,099 MNOK
EUROSKO GRUPPEN AS	−0.5%	62.6%	1,051 MNOK
VINGMED AS	9.8%	25.7%	545 MNOK
NORDIC WILDFISH SALES AS	2.7%	29.2%	709 MNOK
PLANTASJEN SOURCE NORGE AS	1.1%	30.8%	656 MNOK
MEDTRONIC NORGE AS	3.3%	69.2%	916 MNOK
BLIVAKKER.NO AS	7.6%	22.8%	791 MNOK
ASKO NORD AS	1.4%	54.3%	5,503 MNOK
HP NORGE AS	1.1%	40.6%	931 MNOK
NORGESGRUPPEN ØST AS	0.2%	90.3%	1,061 MNOK
ALSO AS	2.8%	27.8%	3,925 MNOK
VENTISTÅL AS	7.1%	23.3%	1,663 MNOK
JYSK AS	10.0%	22.1%	2,948,054 MNOK
GLAXOSMITHKLINE AS	2.8%	39.8%	903 MNOK
RUTEBILEIERNES STANDARDISERINGSAKSJESELSKAP	2.4%	32.8%	4,380 MNOK
HALLGRUPPEN AS	5.3%	22.9%	1,084 MNOK
RED BULL NORWAY AS	10.0%	23.3%	771 MNOK
MASKE AS	5.9%	35.1%	1,298 MNOK
FJELLSPORT AS	0.4%	49.3%	838 MNOK
CHEFFELO NORWAY AS	2.0%	62.1%	521 MNOK
LINDBAK OFFICE AS	1.7%	45.9%	660 MNOK
NORGESGRUPPEN SPAR MIDT-NORGE AS	0.8%	74.3%	505 MNOK
GASUM AS	5.8%	18.6%	4,407 MNOK
NDI NORGE AS	6.1%	30.8%	748 MNOK
VARTDAL PLASTINDUSTRI AS	2.8%	28.9%	1,204 MNOK
DEKKTEAM AS	−5.3%	57.8%	691 MNOK
HOME BRANDS AS	6.1%	33.7%	766 MNOK
NORMAL NORGE AS	10.6%	26.6%	3,253 MNOK
ASKO HEDMARK AS	1.9%	40.3%	8,363 MNOK
JULA NORGE AS	2.3%	34.4%	2,850 MNOK
ASKO AGDER AS	1.6%	42.3%	6,264 MNOK
NG SPAR VEST AS	0.2%	70.0%	789 MNOK
JUNGHEINRICH NORGE AS	4.6%	25.0%	728 MNOK
EPLEHUSET NORGE AS	1.1%	37.5%	1,371 MNOK
NORSK BUTIKKDRIFT AS	2.1%	63.4%	9,666 MNOK
SIEMENS HEALTHCARE AS	3.9%	38.5%	697 MNOK
PAULIG NORWAY AS	4.0%	22.3%	584 MNOK
GEBERIT AS	2.9%	35.8%	579 MNOK
BLUE ENERGY AS	2.9%	35.3%	889 MNOK
SYNSAM GROUP NORWAY AS	9.8%	38.2%	1,200 MNOK
LERØY NORGE AS	0.6%	45.7%	854 MNOK
ALLIANCE HEALTHCARE NORGE APOTEKDRIFT AS	1.4%	49.4%	5,073 MNOK
NG MENY MIDT-NORGE AS	2.2%	46.7%	674 MNOK
MARINE SUPPLY AS	0.7%	47.4%	740 MNOK
LYKO AS	3.1%	25.1%	721 MNOK
ASKO ROGALAND AS	1.5%	46.2%	7,475 MNOK
NORTØMMER AS	1.2%	31.8%	1,693 MNOK
Gausdal Landhandleri AS	−0.9%	49.6%	1,905 MNOK
ROCHE NORGE AS	3.4%	29.4%	582 MNOK
VARNER AS	4.3%	94.9%	837 MNOK
PFIZER AS	0.8%	40.8%	1,166 MNOK
BUNKER OIL AS	1.3%	35.6%	9,939 MNOK
NG SPAR INNLAND AS	−0.7%	66.5%	1,032 MNOK
DR. OETKER NORGE AS	4.2%	21.5%	616 MNOK
FREDRIK & LOUISA AS	5.6%	32.7%	972 MNOK
SIGNIFY NORWAY AS	4.1%	21.8%	535 MNOK
NG SPAR ROGALAND AS	0.4%	69.8%	518 MNOK
BILPAVILJONGEN AS	1.7%	30.2%	542 MNOK
STADSSALG AS	10.1%	79.0%	583 MNOK
Dressmann A/S	13.9%	48.1%	1,596 MNOK
STARCO NORGE AS	6.2%	27.8%	935 MNOK
ASKO VEST AS	1.8%	35.4%	11,775 MNOK
ROBERT BOSCH AS	7.6%	18.5%	754 MNOK
NORWEGIAN MOBILITY GROUP AS	2.9%	26.9%	1,240 MNOK
TOYOTA ROMERIKE AS	3.7%	25.0%	1,119 MNOK
CDS NORGE AS	−3.6%	67.3%	828 MNOK
NG MENY VEST AS	0.8%	59.8%	2,020 MNOK
KAPPAHL AS	4.2%	24.9%	1,459 MNOK
MEKO NORWAY AS	7.6%	12.5%	1,308 MNOK
EQOLOGY.NO AS	14.1%	21.5%	821 MNOK
MALORAMA AS	8.9%	16.6%	2,286 MNOK
EATON ELECTRIC AS	0.1%	39.5%	769 MNOK
AHLSELL NORGE AS	3.9%	37.3%	7,467 MNOK
VITA GROUP AS	6.0%	20.4%	1,064 MNOK
AS BLOMSTERRINGEN ENGROS	1.1%	38.1%	1,398 MNOK
ASKO MIDT-NORGE AS	1.0%	42.2%	7,243 MNOK
REMA DISTRIBUSJON IMPORT AS	1.7%	25.6%	2,571 MNOK
SKAAR NORWAY AS	1.5%	28.0%	522 MNOK
SPORT HOLDING RETAIL AS	6.5%	25.5%	1,545 MNOK
NILLE AS	2.6%	45.9%	1,630 MNOK
KOMPLETT DISTRIBUSJON AS	1.1%	39.8%	4,011 MNOK
BAMA STORKJØKKEN AS	3.2%	27.5%	2,027 MNOK
NG MENY VESTFOLD TELEMARK AS	−0.4%	68.7%	1,223 MNOK
ASKO VESTFOLD TELEMARK AS	1.7%	30.2%	7,479 MNOK
TOYOTA ØSTFOLD AS	3.9%	25.0%	805 MNOK
STORA ENSO SKOG AS	0.6%	49.4%	1,147 MNOK
JÆGER SENTRUM AS	2.3%	35.1%	947 MNOK
VILLA SEAFOOD AS	2.6%	23.1%	1,159 MNOK
PREEM NORGE AS	1.2%	30.1%	8,439 MNOK
AVIATION FUELLING SERVICES NORWAY AS	3.6%	18.6%	3,457 MNOK
NG MENY ØST AS	2.2%	38.5%	5,510 MNOK
Harald A Møller AS	7.3%	15.6%	17,915 MNOK
CERTEGO AS	4.3%	19.9%	663 MNOK
EPTA REFRIGERATION NORWAY AS	−1.2%	41.3%	506 MNOK
BARILLA NORGE AS	3.0%	25.7%	580 MNOK
RITUALS COSMETICS NORWAY AS	3.1%	29.1%	692 MNOK
NG KIWI NORD AS	−0.3%	59.7%	1,452 MNOK
HEDIN AUTOMOTIVE BAVARIA AS	1.9%	29.1%	3,904 MNOK
RESPONSE NORDIC AS	2.3%	25.7%	560 MNOK
TOYOTA BILIA AS	2.3%	28.2%	2,627 MNOK
TEKNISK BUREAU AS	1.2%	30.2%	616 MNOK
HESSELBERG AS	7.4%	18.9%	687 MNOK
LILLEBORG AS	8.8%	17.1%	574 MNOK
ALLIANCE HEALTHCARE NORGE AS	1.6%	28.2%	11,808 MNOK
SJØMATKOMPANIET AS	3.1%	22.1%	710 MNOK
AS SPAR KJØP	−2.6%	52.2%	992 MNOK
AIR BP NORWAY AS	1.3%	43.9%	3,844 MNOK
BERGEN BUNKERS AS	0.5%	29.5%	3,553 MNOK
ASKO OPPLAND AS	0.9%	36.1%	2,302 MNOK
UNIL AS	1.4%	23.2%	11,577 MNOK
MONDELEZ NORGE AS	1.6%	48.4%	2,410 MNOK
POLAR QUALITY AS	1.8%	22.1%	3,609 MNOK
SULLAND AUTO AS	1.7%	28.7%	2,005 MNOK
EIDE SEAFOOD AS	8.7%	10.4%	1,303 MNOK
GRIEG SEAFOOD SALES AS	3.5%	14.2%	5,302 MNOK
INEOS SALES NORGE AS	0.3%	20.5%	2,146 MNOK
EIKMASKIN AS	3.1%	20.7%	2,758 MNOK
BRITISH AMERICAN TOBACCO NORWAY AS	28.8%	7.1%	2,567 MNOK
EASEE AS	−32.4%	50.3%	629 MNOK
TEXCON AS	0.4%	29.1%	1,053 MNOK
GC RIEBER DISTRIBUTION AS	2.8%	21.6%	560 MNOK
NASTA AS	2.3%	26.1%	1,450 MNOK
HELGØ MENY ROGALAND AS	−1.5%	54.4%	1,143 MNOK
TESS LOGISTIKK AS	5.0%	19.8%	908 MNOK
ST1 NORGE AS	0.3%	43.1%	19,038 MNOK
IKEA AS	5.6%	15.6%	8,988 MNOK
KNAPPHUS ENERGI AS	1.6%	27.0%	1,204 MNOK
KOMPLETT SERVICES AS	2.5%	26.1%	5,348 MNOK
NG MENY ØSTLANDET AS	1.4%	44.4%	1,611 MNOK
SCHNEIDER ELECTRIC NORGE AS	1.9%	31.0%	2,283 MNOK
NOKIAN DEKK AS	1.9%	26.9%	1,418 MNOK
SEKKINGSTAD AS	1.2%	25.4%	3,966 MNOK
KID INTERIØR AS	18.1%	14.1%	2,123 MNOK
CLARIANT OIL SERVICES SCANDINAVIA AS	11.2%	11.0%	737 MNOK
ASKO ØST AS	0.6%	36.5%	6,388 MNOK
TOYOTA SØRVEST AS	2.8%	20.6%	993 MNOK
DANFOSS AS	4.4%	13.0%	546 MNOK
Aktieselskapet Vinmonopolet	1.6%	19.1%	18,726 MNOK
HEIDENREICH AS	0.5%	42.2%	2,078 MNOK
HARILA AS	1.6%	25.8%	820 MNOK
EUROBUS NORDIC AS	8.5%	11.3%	592 MNOK
KITCH'N AS	3.8%	21.3%	987 MNOK
NORLI AS	5.7%	28.6%	1,615 MNOK
NORDISK INTERACTIVE AS	4.3%	12.3%	1,239 MNOK
ADIDAS NORGE AS	2.9%	20.8%	541 MNOK
BERTEL O. STEEN TRUCKS & BUSES AS	3.0%	20.5%	1,368 MNOK
TENARIS GLOBAL SERVICES NORWAY AS	4.5%	19.5%	2,479 MNOK
MØLLER BIL TRØNDELAG AS	2.1%	15.2%	2,299 MNOK
MSD (NORGE) AS	3.8%	15.8%	753 MNOK
MRC GLOBAL NORWAY AS	0.4%	55.6%	1,003 MNOK
KRAEMER MARITIME AS	2.8%	18.8%	1,109 MNOK
KOSAN GAS NORGE AS	7.1%	11.5%	603 MNOK
L'OREAL NORGE AS	13.7%	6.1%	1,637 MNOK
BONAVENTURA SALES AS	5.6%	13.5%	612 MNOK
JANSSEN-CILAG AS	5.5%	11.7%	1,395 MNOK
MSD ANIMAL HEALTH NORGE AS	3.7%	19.1%	513 MNOK
VIKEN AT MARKET AS	3.5%	14.6%	935 MNOK
NORWELL AS	0.9%	22.9%	2,737 MNOK
SØRLANDETS ELEKTRO ENGROS AS	15.5%	3.0%	581 MNOK
COD-EXPORT AS	1.1%	21.5%	618 MNOK
Brødrene Dahl A/S	3.9%	25.9%	8,115 MNOK
MIDT-NORGE MASKINSENTER AS	3.7%	18.6%	690 MNOK
DRIV ENERGI MIDT-NORGE AS	1.4%	20.8%	545 MNOK
BAXT AS	3.2%	13.4%	1,229 MNOK
VINHUSET AS	−0.7%	38.1%	1,039 MNOK
NOR SEAFOODS AS	1.4%	20.9%	2,600 MNOK
BYGGMAKKER HANDEL AS	0.4%	49.4%	6,408 MNOK
VOLVO MASKIN AS	4.4%	19.8%	4,618 MNOK
VOICE NORGE AS	11.0%	14.9%	2,135 MNOK
HALEON NORWAY AS	2.2%	22.1%	521 MNOK
FRAM SEAFOOD AS	1.3%	23.7%	1,404 MNOK
T MYHRVOLD AS	0.3%	27.2%	502 MNOK
PLANTASJEN NORGE AS	−8.5%	48.5%	2,555 MNOK
AGRI MIDT-NORGE AS	3.7%	21.6%	706 MNOK
NG MENY ØSTFOLD AS	−1.0%	51.5%	884 MNOK
ATEA AS	3.4%	18.3%	8,180 MNOK
MARS NORGE AS	25.7%	3.1%	798 MNOK
TOTALENERGIES MARKETING NORGE AS	5.4%	2.2%	543 MNOK
JERNIA DETALJ AS	−3.2%	38.3%	929 MNOK
SOLARIS NORGE AS	1.1%	−47.2%	1,167 MNOK
RØRKJØP AS	0.8%	28.9%	902 MNOK
Akershus Traktor A/S	2.0%	21.4%	1,523 MNOK
ESSITY NORWAY AS	8.3%	7.0%	1,864 MNOK
SJØFRISK NORGE AS	4.2%	0.8%	1,079 MNOK
BAMA GRUPPEN AS	−0.2%	28.7%	12,882 MNOK
SEABORN AS	0.9%	21.8%	8,788 MNOK
REMA DISTRIBUSJON NORGE AS	1.1%	19.9%	34,929 MNOK
ARROW ECS NORWAY AS	2.7%	15.8%	2,558 MNOK
IMPERIAL BRANDS NORWAY AS	18.5%	0.8%	1,457 MNOK
STAR SEAFOOD AS	1.2%	17.2%	2,281 MNOK
MESTERGRUPPEN BYGGEVARE AS	4.6%	15.4%	8,545 MNOK
NORGESGRUPPEN ASA	−33.1%	38.8%	568 MNOK
BRAVO SEAFOOD AS	1.3%	19.2%	2,183 MNOK
NORSK GJENVINNING DOWNSTREAM AS	5.6%	8.6%	572 MNOK
XYLEM WATER SOLUTIONS NORGE AS	3.3%	16.1%	797 MNOK
SYNOPTIK NORGE AS	−0.4%	33.7%	767 MNOK
ECO- 1 BIOENERGI AS	3.5%	9.9%	1,572 MNOK
FOXWAY AS	−1.9%	48.7%	778 MNOK
FLISEKOMPANIET AS	−6.2%	32.2%	694 MNOK
BEKO NORDIC AS	2.4%	1.3%	842 MNOK
MAN TRUCK & BUS NORGE AS	3.5%	6.5%	1,352 MNOK
NG MENY SØR AS	−1.8%	54.5%	1,217 MNOK
BERTEL O STEEN MØRE OG ROMSDAL AS	−1.6%	31.4%	884 MNOK
SWEDISH MATCH SALES NORWAY AS	34.3%	0.4%	703 MNOK
ORKLA HEALTH AS	12.8%	20.0%	1,699 MNOK
MUSTI NORGE AS	3.1%	25.7%	807 MNOK
MB ENERGY AS	1.9%	24.2%	1,234 MNOK
XL-BYGG SØRVEST AS	0.9%	20.0%	540 MNOK
WULFF & CO AS	1.5%	15.3%	657 MNOK
POLAR SEAFROZEN AS	1.7%	17.3%	514 MNOK
BMW NORGE AS	0.9%	19.2%	4,405 MNOK
OLJELEVERANDØREN AS	1.1%	24.5%	645 MNOK
LYRECO NORGE AS	−4.0%	45.1%	1,972 MNOK
BESTSELLER AS	2.3%	14.2%	1,094 MNOK
CERTAS ENERGY NORWAY AS	0.1%	41.0%	5,387 MNOK
SKEIDAR SUPPLY CHAIN AS	4.5%	1.6%	974 MNOK
SULLAND ØSTFOLD AS	2.1%	20.1%	624 MNOK
CERTAS ENERGY FUELS AS	0.2%	28.9%	2,633 MNOK
VESO AS	2.8%	20.1%	980 MNOK
WEST-NORWAY AS	3.0%	14.4%	1,084 MNOK
ZEPPELIN POWER SYSTEMS NORWAY AS	3.6%	15.6%	1,212 MNOK
POWER NORGE AS	1.0%	31.8%	6,904 MNOK
NORDIC GROUP AS	1.3%	18.6%	1,215 MNOK
JELD-WEN NORGE AS	0.6%	14.1%	734 MNOK
KIA BIL NORGE AS	−6.1%	40.4%	1,354 MNOK
ASKO OSLOFJORD AS	0.3%	27.2%	15,107 MNOK
SCANFISH NORWAY AS	1.3%	20.5%	618 MNOK
DELAVAL AS	4.6%	5.2%	637 MNOK
VOLVO CAR STOR-OSLO AS	2.6%	25.6%	2,151 MNOK
VIANOR AS	−0.5%	26.6%	1,486 MNOK
ENTRACK AS	1.1%	15.7%	645 MNOK
MØLLER BIL ROMERIKE AS	1.5%	15.3%	1,700 MNOK
KINLY AS	4.7%	7.3%	806 MNOK
MHSERVICE AS	0.7%	24.0%	1,571 MNOK
DRIV ENERGI AS	2.6%	8.9%	4,395 MNOK
BERTEL O. STEEN LASTEBIL OG BUSS AS	0.7%	27.8%	977 MNOK
BIL I NORD AS	0.7%	24.5%	1,581 MNOK
HELLOFRESH NORWAY AS	−1.6%	38.3%	568 MNOK
EUROPRIS BUTIKKDRIFT AS	5.3%	13.1%	7,937 MNOK
E.A. SMITH AS	−2.8%	25.9%	3,563 MNOK
SPORT HOLDING AS	−1.9%	29.4%	3,005 MNOK
ORIFARM HEALTHCARE AS	1.7%	14.3%	652 MNOK
SANDVIK NORGE AS	5.6%	12.6%	585 MNOK
AUTORIA BIL AS	−1.6%	26.3%	1,324 MNOK
APOTEK 1 GRUPPEN AS	4.9%	7.1%	15,406 MNOK
MODINO AS	0.0%	28.4%	2,275 MNOK
H & M HENNES & MAURITZ AS	3.3%	9.4%	4,778 MNOK
LERØY SEAFOOD AS	2.3%	10.2%	23,485 MNOK
ASKO SENTRALLAGER KJØL AS	0.7%	22.9%	18,057 MNOK
ARK BOKHANDEL AS	−0.2%	30.1%	1,767 MNOK
PLATINA SEAFOOD AS	2.4%	13.1%	2,410 MNOK
BSH HUSHOLDNINGSAPPARATER AS	3.1%	11.4%	540 MNOK
JERNIA AS	0.0%	49.3%	935 MNOK
BERTEL O STEEN AS	−2.3%	36.7%	11,039 MNOK
STIM AS	2.7%	7.5%	1,361 MNOK
ASKO OSLO AS	1.6%	13.9%	12,543 MNOK
IKM FLUX AS	3.4%	6.8%	501 MNOK
D. DANIELSEN AS	1.0%	21.0%	573 MNOK
GINA TRICOT AS	2.0%	10.5%	522 MNOK
SANOFI-AVENTIS NORGE AS	5.1%	1.5%	767 MNOK
SNUSHJEM.NO AS	0.3%	30.1%	822 MNOK
BARE FRUKT & GRØNT AS	2.6%	10.0%	5,115 MNOK
OPTIMERA AS	1.9%	17.2%	11,265 MNOK
ORICA NORWAY AS	−15.4%	60.7%	789 MNOK
NG MENY BUSKERUD AS	−1.8%	46.7%	1,097 MNOK
CANON NORGE AS	−0.8%	40.6%	970 MNOK
AIRPORT RETAIL NORWAY AS	2.1%	19.4%	679 MNOK
AS NESTLÉ NORGE	2.2%	2.6%	1,595 MNOK
INPUT INTERIOR NORWAY AS	1.7%	13.9%	875 MNOK
BAMA DAGLIGVARE AS	2.4%	9.2%	8,477 MNOK
COLDWATER PRAWNS OF NORWAY AS	1.1%	2.5%	592 MNOK
KROKEN CARAVAN AS	−1.9%	13.6%	514 MNOK
ELEKTROIMPORTØREN NORGE AS	0.7%	19.0%	1,462 MNOK
KOLLY AS	−1.6%	12.0%	3,741 MNOK
BYGGFAG AS	0.6%	18.8%	505 MNOK
HALTBAKK LOGISTICS AS	2.1%	9.6%	704 MNOK
DUSTIN NORWAY AS	1.1%	16.7%	2,896 MNOK
FENOR AS	−4.0%	14.3%	933 MNOK
ACTIVE BRANDS AS	−10.6%	18.7%	1,073 MNOK
EXCLUSIVE NETWORKS NORWAY AS	0.3%	8.9%	517 MNOK
NK ENERGI AS	0.1%	11.4%	744 MNOK
ZAPTEC CHARGER AS	−1.9%	9.8%	1,174 MNOK
POLESTAR AUTOMOTIVE NORWAY AS	1.1%	13.8%	964 MNOK
NEUMANN BYGG AS	0.7%	14.4%	1,831 MNOK
FORD MOTOR NORGE AS	1.5%	6.1%	4,215 MNOK
ASKO SENTRALLAGER OG TRANSPORT AS	0.1%	19.7%	14,593 MNOK
CONTINENTAL DEKK NORGE AS	2.9%	10.4%	1,027 MNOK
SJOR AS	0.2%	16.5%	5,526 MNOK
TESLA NORWAY AS	1.5%	9.7%	14,892 MNOK
NORDLAKS SALES AS	1.2%	8.9%	4,361 MNOK
TD SYNNEX NORWAY AS	−0.2%	13.7%	2,697 MNOK
NORTH SEA SEAFOOD AS	−0.5%	10.4%	3,698 MNOK
KVARØY SALMON AS	0.9%	1.2%	976 MNOK
VB HANDEL AS	1.1%	9.8%	1,010 MNOK
ESSO NORGE AS	−1.1%	18.3%	28,753 MNOK
HEWLETT-PACKARD NORGE AS	1.2%	9.1%	1,056 MNOK
NERGÅRD SEAFOOD AS	1.1%	6.0%	1,661 MNOK
NOVO NORDISK NORWAY AS	3.4%	0.2%	2,454 MNOK
TECHSTEP NORWAY AS	−2.1%	34.9%	647 MNOK
CIRCLE K NORGE AS	0.2%	27.6%	19,208 MNOK
BAMA BLOMSTER SOURCING AS	1.0%	11.3%	775 MNOK
NORWEGIAN SEAFOOD AS	0.6%	6.3%	2,807 MNOK
NORGESGRUPPEN DATA AS	−0.8%	19.7%	1,131 MNOK
NORPOT AS	0.3%	7.6%	512 MNOK
WILLIKSEN EXPORT AS	−1.5%	−6.8%	617 MNOK
ZEPPELIN CONSTRUCTION EQUIPMENT NORWAY AS	0.2%	11.4%	3,796 MNOK
AGDER OLJE AS	0.5%	11.2%	537 MNOK
SAS OIL NORWAY AS	0.4%	0.3%	754 MNOK
MAXBO AS	−4.0%	15.8%	4,775 MNOK
NORWEGIAN AGRO MACHINERY AS	0.5%	1.1%	829 MNOK
XPENG MOTORS (NORWAY) AS	1.8%	1.5%	565 MNOK
KNAPPHUS ENERGI BERGEN AS	0.1%	15.1%	537 MNOK
BARNAS HUS NORGE AS	−2.8%	14.8%	740 MNOK
BOHUS LOGISTIKK AS	0.7%	9.7%	1,576 MNOK
VOLVO CAR NORWAY AS	0.3%	8.6%	5,777 MNOK
COUNT ENERGY TRADING AS	0.2%	5.4%	9,697 MNOK
PORSCHE NORGE AS	−5.9%	11.5%	918 MNOK
TRAVEL RETAIL NORWAY AS	−2.2%	13.4%	4,599 MNOK
ELECTROLUX HOME PRODUCTS NORWAY AS	0.1%	7.4%	1,123 MNOK
HOFSETH SALES AS	0.8%	1.1%	5,986 MNOK
NORTH EUROPEAN OIL TRADE AS	−0.6%	1.9%	18,560 MNOK
AUTORINGEN OSLO AS	0.1%	7.3%	1,377 MNOK
BR KARLSEN SALES AS	0.5%	2.1%	732 MNOK
OUTLET GROUP AS	0.5%	2.2%	737 MNOK
VIATRIS AS	1.0%	4.4%	764 MNOK
LIEBHERR-NORGE AS	−9.1%	1.8%	547 MNOK
HAVI LOGISTICS AS	0.0%	2.0%	1,337 MNOK
BESTDRIVE NORWAY AS	−7.3%	16.6%	775 MNOK
UNO-X MOBILITY NORGE AS	0.2%	2.1%	18,485 MNOK
MEDIVATUS AS	−2.6%	−0.9%	533 MNOK
XXL SPORT & VILLMARK AS	−41.9%	−15.9%	3,981 MNOK
ODA NORWAY AS	−8.1%	1.4%	3,121 MNOK
POWER INTERNATIONAL AS	−4.5%	−6.4%	14,315 MNOK
FARMASIET AS	−11.7%	−7.0%	597 MNOK
NIO NORWAY AS	−44.9%	−95.9%	526 MNOK

Scenario analysis: the sector's weakest year

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.

Fiscal year	Median operating margin	Median equity ratio
2016	14.9%	−59.5%
2017	3.7%	−53.9%
2018	13.3%	−34.0%
2019	–	–
2020	–	–
2021	14.9%	48.0%
2022 · weakest year	1.5%	19.7%
2023	2.9%	34.3%
2024	2.7%	34.1%
2025	3.0%	33.7%
2026	4.4%	28.9%

In 2022, 123 ranked companies did better than the sector, 49 about the same and 118 weaker.

Held up best in 2022

1MARITIM GRUPPEN ASequity ratio 63.9%92.4%
2TESA ASequity ratio 32.0%47.0%
3RETAIL & BRANDING ASequity ratio 13.6%41.5%
4PASCAL WEAR ASequity ratio 40.5%39.8%
5SAMIRC NORGE ASequity ratio 51.2%36.5%
6FLEXIFIKS ASequity ratio 53.9%34.9%
7OSLO FRIMERKE- OG MYNTAUKSJONER ASequity ratio 33.8%32.5%
8SEVEN AGENCY ASequity ratio 80.5%31.6%
9LA COSMETICA ASequity ratio 74.7%31.2%
10COMBISAFE NORGE ASequity ratio 85.4%29.9%

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.

Consumer price index (indeks (2025 = 100))

Latest value: 104.0 (2026M09)

Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 0.3 percentage points.

Consumer price index per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Consumer price index, annual average	84.3	89.2	94.1	97.0	100.0	102.9 (so far)
Change from the year before	+3.5%	+5.8%	+5.5%	+3.2%	+3.0%	+2.9%
Sector's median operating margin	14.9%	1.5%	2.9%	2.7%	3.0%	4.4%

Source: SSB (14710, CC BY 4.0). Source · fetched 31 October 2026

Policy rate (prosent)

Latest value: 4.30 (2026-09)

Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 0.3 percentage points.

Policy rate per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Policy rate, annual average	0.08	1.32	3.54	4.50	4.30	4.14 (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	−0.16 percentage points
Sector's median operating margin	14.9%	1.5%	2.9%	2.7%	3.0%	4.4%

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 30 October 2026

When policy rate fell in 2025, 11,351 of 22,103 ranked companies kept their operating margin at or above the year before. Among the largest: ELKJØP NORDIC AS (−0.2% → 0.9%), LERØY SEAFOOD AS (2.4% → 2.8%), Harald A Møller AS (4.2% → 5.1%), ASKO SENTRALLAGER KJØL AS (0.8% → 1.1%), POWER INTERNATIONAL AS (−0.6% → 1.0%).

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: 48,396; −2.2% from 2023
Persons employed: 384,188; −0.6% from 2023
Turnover: NOK 2,381.9 bn; +1.6% from 2023
Gross operating margin: 3.7%; Gross operating surplus divided by turnover

All enterprises, sole proprietorships included.

Bankruptcies in the industry

574 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −22.2% against the four quarters before (738). That is about 11.9 per 1,000 enterprises.

Foreign-controlled enterprises · 2024

Share of enterprises: 6.2%
Share of persons employed: 25.1%
Share of turnover: 32.0%

SSB publishes this for groups of industries only. The figures are for the group “Varehandel, reparasjon av motorvogner”.

Retail and wholesale index, volume · Varehandel, reparasjon av motorvogner

95.7 index, 2021 = 100, seasonally adjusted · 2026M09
+3.1% against 2025M09.

Monthly, 2023M09 to 2026M09.

Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 07129. 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

AARVIK LAGER AS 922843759 Voluntary liquidation · 31 October 2026
AGDER STEIN & MONUMENT AS 921405855 Voluntary liquidation · 31 October 2026 · 4 MNOK (2025)
ANTIKVARIAT SØR AS 923049967 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
ARNE MJØSUND AS 992562854 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
ATELIÈR AGAPI AS 928460851 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
BASE TRADING AS 922018170 Voluntary liquidation · 31 October 2026
BEDRE HVERDAG AS 921190409 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
BIL INDUSTRI AS 916247362 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)

All bankruptcies and liquidations in the sector

Industry codes (NACE)

Code	Description
45*	Hele hovedgruppe 45
46*	Engroshandel (hele hovedgruppen)
46.110	Agenturhandel med jordbruksråvarer, levende dyr, tekstilråvarer og halvfabrikater
46.120	Agenturhandel med brensel, drivstoff, malm, metaller og industrikjemikalier
46.130	Agenturhandel med tømmer, trelast og byggevarer
46.140	Agenturhandel med maskiner, produksjonsutstyr, båter og luftfartøy
46.150	Agenturhandel med møbler, husholdningsvarer og jernvarer
46.160	Agenturhandel med tekstiler, klær, pelsskinn, skotøy og lærvarer
46.170	Agenturhandel med nærings- og nytelsesmidler
46.180	Agenturhandel med spesialisert vareutvalg ellers
46.190	Agenturhandel med bredt vareutvalg
46.210	Engroshandel med korn, råtobakk, såvarer og fôrvarer
46.220	Engroshandel med blomster og planter
46.230	Engroshandel med levende dyr
46.240	Engroshandel med huder, skinn og lær
46.310	Engroshandel med frukt og grønnsaker
46.321	Engroshandel med kjøtt og kjøttvarer
46.322	Engroshandel med fisk, skalldyr og bløtdyr
46.330	Engroshandel med meierivarer, egg, matolje og -fett
46.340	Engroshandel med drikkevarer
46.350	Engroshandel med tobakksvarer
46.360	Engroshandel med sukker, sjokolade og sukkervarer
46.370	Engroshandel med kaffe, te, kakao og krydder
46.380	Engroshandel med andre næringsmidler
46.390	Engroshandel med bredt utvalg av nærings- og nytelsesmidler
46.410	Engroshandel med tekstiler og utstyrsvarer
46.420	Engroshandel med klær og skotøy
46.430	Engroshandel med elektriske husholdningsapparater
46.440	Engroshandel med kjøkkenutstyr av porselen, glass og steintøy og rengjøringsmidler
46.450	Engroshandel med parfyme og kosmetikk
46.460	Engroshandel med apotekvarer og medisinske varer
46.470	Engroshandel med husholdnings-, kontor- og butikkmøbler, gulvtepper og belysningsutstyr
46.480	Engroshandel med klokker, ur og smykker
46.490	Engroshandel med andre husholdningsvarer
46.500	Engroshandel med informasjons- og kommunikasjonsteknologiutstyr
46.610	Engroshandel med maskiner og utstyr til jordbruk og skogbruk
46.620	Engroshandel med maskinverktøy
46.630	Engroshandel med maskiner og utstyr til bergverksdrift, olje- og gassutvinning og bygge- og anleggsvirksomhet
46.640	Engroshandel med maskiner og utstyr ellers
46.710	Engroshandel med motorvogner
46.720	Engroshandel med deler og utstyr for motorvogner
46.730	Engroshandel med motorsykler og tilhørende deler og utstyr
46.810	Engroshandel med drivstoff, brensel og beslektede produkter
46.820	Engroshandel med metaller og metallholdig malm
46.830	Engroshandel med tømmer, trelast, byggevarer og sanitærutstyr
46.840	Engroshandel med jernvarer, rørleggerartikler og oppvarmingsutstyr
46.850	Engroshandel med kjemiske produkter
46.860	Engroshandel med innsatsvarer ellers
46.870	Engroshandel med avfall og skrap
46.890	Engroshandel med spesialisert vareutvalg ikke nevnt annet sted
46.900	Uspesifisert engroshandel
47*	Detaljhandel (hele hovedgruppen)
47.110	Detaljhandel med bredt vareutvalg med hovedvekt på nærings- og nytelsesmidler
47.120	Detaljhandel med bredt vareutvalg ellers
47.210	Detaljhandel med frukt og grønnsaker
47.220	Detaljhandel med kjøtt og kjøttvarer
47.230	Detaljhandel med fisk, skalldyr og bløtdyr
47.240	Detaljhandel med bakervarer, konditorvarer og sukkervarer
47.250	Detaljhandel med drikkevarer
47.260	Detaljhandel med tobakksvarer
47.270	Detaljhandel med nærings- og nytelsesmidler ellers
47.300	Detaljhandel med drivstoff til motorvogner
47.400	Detaljhandel med informasjons- og kommunikasjonsteknologiutstyr
47.510	Detaljhandel med tekstiler og utstyrsvarer
47.520	Detaljhandel med jernvarer, byggevarer, fargevarer og glass
47.530	Detaljhandel med tapet, gulvtepper og gulvbelegg
47.540	Detaljhandel med elektriske husholdningsapparater
47.551	Detaljhandel med møbler, gjelder også madrasser
47.552	Detaljhandel med belysningsartikler
47.553	Detaljhandel med husholdningsredskaper og bestikk, servise, glassvarer, porselen og keramikk
47.559	Detaljhandel med innredningsartikler ikke nevnt annet sted
47.610	Detaljhandel med bøker
47.620	Detaljhandel med aviser og papirvarer
47.631	Detaljhandel med sportsvarer
47.632	Detaljhandel med fritidsbåter og tilhørende utstyr
47.640	Detaljhandel med spill og leker
47.690	Detaljhandel med kulturvarer ikke nevnt annet sted
47.710	Detaljhandel med klær
47.720	Detaljhandel med skotøy og lærvarer
47.730	Detaljhandel med apotekvarer
47.740	Detaljhandel med medisinske og ortopediske artikler
47.750	Detaljhandel med kosmetikk og toalettartikler
47.761	Detaljhandel med blomster, planter, gjødsel og plantevernmidler
47.762	Detaljhandel med kjæledyr og varer til kjæledyr
47.770	Detaljhandel med ur, klokker og smykker
47.780	Annen detaljhandel med andre nye varer
47.790	Detaljhandel med brukte varer
47.810	Detaljhandel med motorvogner
47.820	Detaljhandel med deler og utstyr til motorvogner
47.830	Detaljhandel med motorsykler og tilhørende deler og utstyr
47.910	Formidlingstjenester tilknyttet detaljhandel med bredt vareutvalg
47.920	Formidlingstjenester tilknyttet detaljhandel med spesialisert vareutvalg