Sector

381 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology

Ranking · 2025 · Morning class Medium

Morning class Medium · 2025
#CompanyProfileScoreChangeFive years
1 Næsbø Skog AS Leader 85 +6
2 Fredrik Nannestad Jr AS Leader 84 −1
3 Altiskog AS Leader 82 −4
4 H A Skajems Planteskole AS Leader 76 −4
5 Tin Milovanovic Skogservice AS Leader 74 −7
6 Orre Tomater AS Leader 72 +18
7 Grude Gartneri AS Leader 72 +19
8 Mellbyes Planteskole AS Leader 70 −4
9 Wiig Gartneri AS Leader 70 +11
10 Grimstad Planteskole AS Leader 68 +31
11 Jæren Gulrot AS Leader 68 +16
12 Oddernes Gartneri AS Leader 66 +6
13 Bru Gard AS Leader 66 +1
14 Stangeskovene AS Leader 65 −12
15 Frisk Salat AS Leader 65 +11
16 Skavland Gartneri AS Leader 64 +1
17 Sikker Skogrydding AS Sprinter 64 +9
18 Skjærgaarden Gartneri AS Sprinter 60 −5
19 Snarum Gartneri AS Steward 59 +8
20 Holth Skogsdrift AS Leader 58 +1
21 Totengrønt AS Builder 56 +15
22 O. Espedal Handelsgartneri AS Sprinter 55 −21
23 HÅ Rugeri AS Sprinter 52 −2
24 Viken Østre AS Leader 52 +23
25 BJERTNÆS & Hoel AS Sprinter 52 +6
26 Hvebergsmoen Potetpakkeri AS Steward 51 +2
27 Hodne Gartneri AS Sprinter 50 +25
28 Animalia AS Steward 49 −6
29 Holm Gård AS Builder 48 +21
30 Hanasand Gartneri AS Steward 47 −21
31 Norsk Skogrydding AS Builder 46 −7
32 Johansen Skogsdrift AS Builder 43 +13
33 Lauvsnes Gartneri AS Steward 43 +16
34 GM Skogsdrift AS Steward 43 −9
35 Bergknapp AS Builder 42 +11
36 Skogplanter Østnorge AS Sprinter 41 +5
37 BK Gartneri og Hagesenter AS Steward 41 +4
38 Miljøgartneriet AS Builder 40 −6
39 Skogskraft AS Builder 37 −13
40 Andersen Gartneri AS Builder 34 +4
41 Lundstad Grønt AS Builder 34 +7
42 Frostagrønt AS Sprinter 32 −21
43 Norsk Agurk AS Steward 31 −33
44 J Karlsen Gartneri AS Builder 30 +4
45 Ureist AS Builder 26 −37
46 Holte Gård Drangedal AS Builder 25 −33
47 Lågen Potetpakkeri AS Builder 22 +3
48 Hilverda de Boer Norge AS Builder 21 +18
49 Lyssand Gartneri AS Builder 20 +12
50 Elstøen Salatgartneri AS Builder 17 −15

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

  • Ureist AS

    From 2024 to 2025: went from a profit to a loss before tax and the equity ratio fell from 46.8% to 32.1%.

    −37
  • Holte Gård Drangedal AS

    From 2024 to 2025: went from a profit to a loss before tax and the equity ratio fell from 55.6% to 34.9%.

    −33
  • Norsk Agurk AS

    From 2024 to 2025: the equity ratio fell from 70.7% to 43.7% and the operating margin fell from 4.1% to 0.9%.

    −33
  • Hveem Nord Østre AS

    From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from 10.3% to −1.0%.

    −27
Summary analysis

Jordbruk og skogbruk, Morning class Medium: 52 ranked companies in fiscal year 2025.

Best in the sector: Næsbø Skog AS (score 85, operating margin 28.6%, equity ratio 76.6%). Fredrik Nannestad Jr AS (score 84, operating margin 21.0%, equity ratio 80.9%). Altiskog AS (score 82, operating margin 12.4%, equity ratio 49.0%).

Weakest in the sector: Huseby Gård AS (score 9, operating margin −1.1%, equity ratio 7.1%). Hveem Nord Østre AS (score 15, operating margin −1.0%, equity ratio 7.1%). Elstøen Salatgartneri AS (score 17, operating margin −2.2%, equity ratio −0.6%).

Worth a closer look

Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made

Top lists in the sector · 2025 · Morning class Medium

The five largest companies account for 24% of the sector's revenue. Combined profit before tax for the 52 ranked companies: 343 MNOK.

Size

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

Highest revenue

  1. Hilverda de Boer Norge AS 319 MNOK
  2. Hvebergsmoen Potetpakkeri AS 303 MNOK
  3. HÅ Rugeri AS 280 MNOK
  4. Elstøen Salatgartneri AS 239 MNOK
  5. Andersen Gartneri AS 213 MNOK

Operating revenue.

Most employees

  1. Elstøen Salatgartneri AS 221
  2. Huseby Gård AS 155
  3. BJERTNÆS & Hoel AS 124
  4. Lauvsnes Gartneri AS 116
  5. BK Gartneri og Hagesenter AS 115

Employees according to the Central Coordinating Register.

Highest revenue per employee

  1. Hvebergsmoen Potetpakkeri AS 8.0 MNOK
  2. Hilverda de Boer Norge AS 7.4 MNOK
  3. HÅ Rugeri AS 7.0 MNOK
  4. Altiskog AS 6.3 MNOK
  5. Stangeskovene AS 4.3 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. Næsbø Skog AS 28.6%
  2. Stangeskovene AS 24.7%
  3. O. Espedal Handelsgartneri AS 23.0%
  4. Fredrik Nannestad Jr AS 21.0%
  5. H A Skajems Planteskole AS 19.8%

Operating result divided by operating revenue.

Largest profit

  1. Næsbø Skog AS 44 MNOK
  2. Stangeskovene AS 32 MNOK
  3. HÅ Rugeri AS 26 MNOK
  4. Altiskog AS 25 MNOK
  5. O. Espedal Handelsgartneri AS 25 MNOK

Profit before tax.

Largest loss

  1. Hilverda de Boer Norge AS −18 MNOK
  2. Elstøen Salatgartneri AS −6 MNOK
  3. Holte Gård Drangedal AS −6 MNOK
  4. Huseby Gård AS −4 MNOK
  5. Lågen Potetpakkeri AS −3 MNOK

Profit before tax, the largest negative.

Most solid

  1. Tin Milovanovic Skogservice AS 86.9%
  2. Stangeskovene AS 86.5%
  3. Fredrik Nannestad Jr AS 80.9%
  4. Næsbø Skog AS 76.6%
  5. Bru Gard AS 70.6%

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. Hilverda de Boer Norge AS +83.4%
  2. Sikker Skogrydding AS +49.2%
  3. Totengrønt AS +36.7%
  4. Holm Gård AS +29.8%
  5. Elstøen Salatgartneri AS +24.9%

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

Largest revenue decline

  1. Stangeskovene AS −19.6%
  2. Huseby Gård AS −6.2%
  3. Tin Milovanovic Skogservice AS −3.9%
  4. Ureist AS −3.9%
  5. Mellbyes Planteskole AS −3.1%

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

Biggest climbers

  1. Hodne Gartneri AS +25.6 points
  2. Viken Østre AS +22.7 points
  3. Grude Gartneri AS +18.3 points
  4. Hilverda de Boer Norge AS +17.4 points
  5. Lauvsnes Gartneri AS +16.2 points

Change in index points from the year before.

Biggest fallers

  1. Ureist AS −37.6 points
  2. Norsk Agurk AS −33.6 points
  3. Holte Gård Drangedal AS −32.4 points
  4. Hveem Nord Østre AS −26.9 points
  5. Hanasand Gartneri AS −21.0 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 · 2025 · 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.

Hilverda de Boer Norge AS: 0 / 7Hvebergsmoen Potetpakkeri AS: 45 / 66HÅ Rugeri AS: 85 / 27Elstøen Salatgartneri AS: 3 / 0Andersen Gartneri AS: 32 / 25Animalia AS: 32 / 56Altiskog AS: 89 / 72BJERTNÆS & Hoel AS: 73 / 17Wiig Gartneri AS: 70 / 78Huseby Gård AS: 9 / 5Norsk Skogrydding AS: 46 / 41Grude Gartneri AS: 75 / 84Næsbø Skog AS: 92 / 94Lågen Potetpakkeri AS: 3 / 31Lundstad Grønt AS: 35 / 13Miljøgartneriet AS: 25 / 45J Karlsen Gartneri AS: 36 / 1GM Skogsdrift AS: 17 / 60Hanasand Gartneri AS: 43 / 68O. Espedal Handelsgartneri AS: 92 / 47Bergknapp AS: 32 / 33Johansen Skogsdrift AS: 37 / 11Frostagrønt AS: 56 / 19Skavland Gartneri AS: 55 / 86Norsk Agurk AS: 17 / 62Stangeskovene AS: 65 / 98Skogplanter Østnorge AS: 57 / 15BK Gartneri og Hagesenter AS: 29 / 52Oddernes Gartneri AS: 87 / 58Ureist AS: 14 / 35Viken Østre AS: 70 / 50Bru Gard AS: 61 / 92Lyssand Gartneri AS: 9 / 9Holte Gård Drangedal AS: 6 / 43Hodne Gartneri AS: 59 / 39Lauvsnes Gartneri AS: 25 / 54Snarum Gartneri AS: 46 / 74Holth Skogsdrift AS: 67 / 64Fredrik Nannestad Jr AS: 86 / 96H A Skajems Planteskole AS: 91 / 90Mellbyes Planteskole AS: 86 / 88Skogskraft AS: 22 / 21Skjærgaarden Gartneri AS: 56 / 49Holm Gård AS: 48 / 29Orre Tomater AS: 88 / 70Hveem Nord Østre AS: 12 / 3Totengrønt AS: 45 / 23Sikker Skogrydding AS: 85 / 37Grimstad Planteskole AS: 71 / 76Jæren Gulrot AS: 77 / 80Tin Milovanovic Skogservice AS: 79 / 100Frisk Salat AS: 58 / 8200252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers
Hilverda de Boer Norge AS: 0 / 7Hvebergsmoen Potetpakkeri AS: 45 / 66HÅ Rugeri AS: 85 / 27Elstøen Salatgartneri AS: 3 / 0Andersen Gartneri AS: 32 / 25Animalia AS: 32 / 56Altiskog AS: 89 / 72BJERTNÆS & Hoel AS: 73 / 17Wiig Gartneri AS: 70 / 78Huseby Gård AS: 9 / 5Norsk Skogrydding AS: 46 / 41Grude Gartneri AS: 75 / 84Næsbø Skog AS: 92 / 94Lågen Potetpakkeri AS: 3 / 31Lundstad Grønt AS: 35 / 13Miljøgartneriet AS: 25 / 45J Karlsen Gartneri AS: 36 / 1GM Skogsdrift AS: 17 / 60Hanasand Gartneri AS: 43 / 68O. Espedal Handelsgartneri AS: 92 / 47Bergknapp AS: 32 / 33Johansen Skogsdrift AS: 37 / 11Frostagrønt AS: 56 / 19Skavland Gartneri AS: 55 / 86Norsk Agurk AS: 17 / 62Stangeskovene AS: 65 / 98Skogplanter Østnorge AS: 57 / 15BK Gartneri og Hagesenter AS: 29 / 52Oddernes Gartneri AS: 87 / 58Ureist AS: 14 / 35Viken Østre AS: 70 / 50Bru Gard AS: 61 / 92Lyssand Gartneri AS: 9 / 9Holte Gård Drangedal AS: 6 / 43Hodne Gartneri AS: 59 / 39Lauvsnes Gartneri AS: 25 / 54Snarum Gartneri AS: 46 / 74Holth Skogsdrift AS: 67 / 64Fredrik Nannestad Jr AS: 86 / 96H A Skajems Planteskole AS: 91 / 90Mellbyes Planteskole AS: 86 / 88Skogskraft AS: 22 / 21Skjærgaarden Gartneri AS: 56 / 49Holm Gård AS: 48 / 29Orre Tomater AS: 88 / 70Hveem Nord Østre AS: 12 / 3Totengrønt AS: 45 / 23Sikker Skogrydding AS: 85 / 37Grimstad Planteskole AS: 71 / 76Jæren Gulrot AS: 77 / 80Tin Milovanovic Skogservice AS: 79 / 100Frisk Salat AS: 58 / 8200252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers

Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2024 (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 2024 (profitability / solidity)
Næsbø Skog ASLion929481 / 93
O. Espedal Handelsgartneri ASCheetah924793 / 81
H A Skajems Planteskole ASLion919097 / 95
Altiskog ASLion897285 / 79
Orre Tomater ASLion8870–
Oddernes Gartneri ASLion875886 / 70
Fredrik Nannestad Jr ASLion869688 / 91
Mellbyes Planteskole ASLion868890 / 84
Sikker Skogrydding ASCheetah8537–
HÅ Rugeri ASCheetah852780 / 35
Tin Milovanovic Skogservice ASLion7910086 / 98
Jæren Gulrot ASLion7780–
Grude Gartneri ASLion758444 / 72
BJERTNÆS & Hoel ASCheetah731764 / 26
Grimstad Planteskole ASLion7176–
Wiig Gartneri ASLion707849 / 63
Viken Østre ASLion705028 / 28
Holth Skogsdrift ASLion676460 / 60
Stangeskovene ASLion659851 / 100
Bru Gard ASLion619243 / 86
Hodne Gartneri ASCheetah59398 / 30
Frisk Salat ASLion5882–
Skogplanter Østnorge ASCheetah571563 / 21
Frostagrønt ASCheetah561991 / 16
Skjærgaarden Gartneri ASCheetah564965 / 33
Skavland Gartneri ASLion558663 / 77
Holm Gård ASBeaver4829–
Snarum Gartneri ASElephant467451 / 53
Norsk Skogrydding ASBeaver464166 / 44
Totengrønt ASBeaver4523–
Hvebergsmoen Potetpakkeri ASElephant456648 / 58
Hanasand Gartneri ASElephant436877 / 49
Johansen Skogsdrift ASBeaver371130 / 9
J Karlsen Gartneri ASBeaver36159 / 0
Lundstad Grønt ASBeaver351345 / 19
Animalia ASElephant325622 / 67
Bergknapp ASBeaver323313 / 37
Andersen Gartneri ASBeaver322522 / 23
BK Gartneri og Hagesenter ASElephant295210 / 56
Lauvsnes Gartneri ASElephant25547 / 47
Miljøgartneriet ASBeaver254552 / 40
Skogskraft ASBeaver2221–
GM Skogsdrift ASElephant176042 / 51
Norsk Agurk ASElephant176235 / 88
Ureist ASBeaver143545 / 65
Hveem Nord Østre ASBeaver12356 / 5
Lyssand Gartneri ASBeaver996 / 7
Huseby Gård ASBeaver9517 / 12
Holte Gård Drangedal ASBeaver64323 / 74
Lågen Potetpakkeri ASBeaver3312 / 42
The sector in numbers

Summary · fiscal year 2025 · Morning class Medium

The sector's median operating margin is 6.1%. 1 of 52 companies have negative equity. The median equity ratio is 37.6%.

Companies with accounts52
Total revenue5,668 MNOK
Median operating margin6.1%
Median equity ratio37.6%
Share with a loss15%
Share with negative equity2%

All figures are for fiscal year 2025. Ranked: 52 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 2024 to 2025, for 44 companies ranked in both years.

Climbers

  1. 14Grude Gartneri ASfrom rank 21 to 772
  2. 13Hodne Gartneri ASfrom rank 40 to 2750
  3. 12Viken Østre ASfrom rank 36 to 2452
  4. 7Wiig Gartneri ASfrom rank 16 to 970
  5. 6Snarum Gartneri ASfrom rank 25 to 1959

Fallers

  1. 32Ureist ASfrom rank 13 to 4526
  2. 31Norsk Agurk ASfrom rank 12 to 4331
  3. 29Holte Gård Drangedal ASfrom rank 17 to 4625
  4. 22Hveem Nord Østre ASfrom rank 29 to 5115
  5. 21Hanasand Gartneri ASfrom rank 9 to 3047

Awards · 2025 · Morning class Medium

Most profitableNæsbø Skog AS28.6%
Fastest growthHilverda de Boer Norge AS83.4%
Strongest balance sheetTin Milovanovic Skogservice AS86.9%
Largest revenueHilverda de Boer Norge AS319 MNOK
Highest revenue per employeeHvebergsmoen Potetpakkeri AS8.0 MNOK

Needs attention · 2025 · Morning class Medium

13 companies show at least one warning sign. Showing the 13 most important.

Sector map · 2025 · 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%5%10%15%20%0%20%40%60%80%Operating margin (profitability) →Equity ratio (solidity) →Hilverda de Boer Norge AS: operating margin −6.0%, equity ratio 9.7%, rank 48Hvebergsmoen Potetpakkeri AS: operating margin 4.8%, equity ratio 45.0%, rank 26HÅ Rugeri AS: operating margin 9.1%, equity ratio 30.1%, rank 23Elstøen Salatgartneri AS: operating margin −2.2%, equity ratio −0.6%, rank 50Andersen Gartneri AS: operating margin 2.9%, equity ratio 29.8%, rank 40Animalia AS: operating margin 2.4%, equity ratio 41.0%, rank 28Altiskog AS: operating margin 12.4%, equity ratio 49.0%, rank 3BJERTNÆS & Hoel AS: operating margin 11.3%, equity ratio 25.2%, rank 25Wiig Gartneri AS: operating margin 8.3%, equity ratio 52.4%, rank 9Huseby Gård AS: operating margin −1.1%, equity ratio 7.1%, rank 52Norsk Skogrydding AS: operating margin 4.5%, equity ratio 34.8%, rank 31Grude Gartneri AS: operating margin 13.5%, equity ratio 58.9%, rank 7Næsbø Skog AS: operating margin 28.6%, equity ratio 76.6%, rank 1Lågen Potetpakkeri AS: operating margin −2.5%, equity ratio 30.9%, rank 47Lundstad Grønt AS: operating margin 5.7%, equity ratio 16.6%, rank 41Miljøgartneriet AS: operating margin 4.1%, equity ratio 35.0%, rank 38J Karlsen Gartneri AS: operating margin 2.6%, equity ratio 1.5%, rank 44GM Skogsdrift AS: operating margin 1.1%, equity ratio 42.5%, rank 34Hanasand Gartneri AS: operating margin 6.4%, equity ratio 45.3%, rank 30O. Espedal Handelsgartneri AS: operating margin 23.0%, equity ratio 35.4%, rank 22Bergknapp AS: operating margin 4.5%, equity ratio 30.9%, rank 35Johansen Skogsdrift AS: operating margin 5.9%, equity ratio 11.1%, rank 32Frostagrønt AS: operating margin 5.0%, equity ratio 25.3%, rank 42Skavland Gartneri AS: operating margin 8.1%, equity ratio 66.2%, rank 16Norsk Agurk AS: operating margin 0.9%, equity ratio 43.7%, rank 43Stangeskovene AS: operating margin 24.7%, equity ratio 86.5%, rank 14Skogplanter Østnorge AS: operating margin 10.1%, equity ratio 22.4%, rank 36BK Gartneri og Hagesenter AS: operating margin 1.2%, equity ratio 39.7%, rank 37Oddernes Gartneri AS: operating margin 9.2%, equity ratio 41.6%, rank 12Ureist AS: operating margin −0.2%, equity ratio 32.1%, rank 45Viken Østre AS: operating margin 7.8%, equity ratio 37.6%, rank 24Bru Gard AS: operating margin 8.1%, equity ratio 70.6%, rank 13Lyssand Gartneri AS: operating margin −1.4%, equity ratio 9.9%, rank 49Holte Gård Drangedal AS: operating margin −1.9%, equity ratio 34.9%, rank 46Hodne Gartneri AS: operating margin 6.3%, equity ratio 34.7%, rank 27Lauvsnes Gartneri AS: operating margin 2.7%, equity ratio 40.6%, rank 33Snarum Gartneri AS: operating margin 5.1%, equity ratio 49.8%, rank 19Holth Skogsdrift AS: operating margin 7.2%, equity ratio 44.8%, rank 20Fredrik Nannestad Jr AS: operating margin 21.0%, equity ratio 80.9%, rank 2H A Skajems Planteskole AS: operating margin 19.8%, equity ratio 67.6%, rank 4Mellbyes Planteskole AS: operating margin 17.8%, equity ratio 66.2%, rank 8Skogskraft AS: operating margin 1.3%, equity ratio 27.6%, rank 39Skjærgaarden Gartneri AS: operating margin 6.9%, equity ratio 37.6%, rank 18Holm Gård AS: operating margin 5.8%, equity ratio 30.8%, rank 29Orre Tomater AS: operating margin 10.9%, equity ratio 47.3%, rank 6Hveem Nord Østre AS: operating margin −1.0%, equity ratio 7.1%, rank 51Totengrønt AS: operating margin 5.8%, equity ratio 29.3%, rank 21Sikker Skogrydding AS: operating margin 10.4%, equity ratio 34.5%, rank 17Grimstad Planteskole AS: operating margin 7.4%, equity ratio 50.4%, rank 10Jæren Gulrot AS: operating margin 8.1%, equity ratio 53.9%, rank 11Tin Milovanovic Skogservice AS: operating margin 16.7%, equity ratio 86.9%, rank 5Frisk Salat AS: operating margin 6.6%, equity ratio 58.8%, rank 15
Show the map's figures as a table
CompanyOperating marginEquity ratioRevenue
Næsbø Skog AS28.6%76.6%146 MNOK
Fredrik Nannestad Jr AS21.0%80.9%60 MNOK
Altiskog AS12.4%49.0%195 MNOK
H A Skajems Planteskole AS19.8%67.6%60 MNOK
Tin Milovanovic Skogservice AS16.7%86.9%50 MNOK
Orre Tomater AS10.9%47.3%55 MNOK
Grude Gartneri AS13.5%58.9%160 MNOK
Mellbyes Planteskole AS17.8%66.2%59 MNOK
Wiig Gartneri AS8.3%52.4%179 MNOK
Grimstad Planteskole AS7.4%50.4%51 MNOK
Jæren Gulrot AS8.1%53.9%50 MNOK
Oddernes Gartneri AS9.2%41.6%75 MNOK
Bru Gard AS8.1%70.6%70 MNOK
Stangeskovene AS24.7%86.5%78 MNOK
Frisk Salat AS6.6%58.8%50 MNOK
Skavland Gartneri AS8.1%66.2%86 MNOK
Sikker Skogrydding AS10.4%34.5%51 MNOK
Skjærgaarden Gartneri AS6.9%37.6%57 MNOK
Snarum Gartneri AS5.1%49.8%63 MNOK
Holth Skogsdrift AS7.2%44.8%61 MNOK
Totengrønt AS5.8%29.3%51 MNOK
O. Espedal Handelsgartneri AS23.0%35.4%98 MNOK
HÅ Rugeri AS9.1%30.1%280 MNOK
Viken Østre AS7.8%37.6%73 MNOK
BJERTNÆS & Hoel AS11.3%25.2%188 MNOK
Hvebergsmoen Potetpakkeri AS4.8%45.0%303 MNOK
Hodne Gartneri AS6.3%34.7%63 MNOK
Animalia AS2.4%41.0%198 MNOK
Holm Gård AS5.8%30.8%56 MNOK
Hanasand Gartneri AS6.4%45.3%100 MNOK
Norsk Skogrydding AS4.5%34.8%161 MNOK
Johansen Skogsdrift AS5.9%11.1%91 MNOK
Lauvsnes Gartneri AS2.7%40.6%63 MNOK
GM Skogsdrift AS1.1%42.5%103 MNOK
Bergknapp AS4.5%30.9%93 MNOK
Skogplanter Østnorge AS10.1%22.4%78 MNOK
BK Gartneri og Hagesenter AS1.2%39.7%75 MNOK
Miljøgartneriet AS4.1%35.0%124 MNOK
Skogskraft AS1.3%27.6%57 MNOK
Andersen Gartneri AS2.9%29.8%213 MNOK
Lundstad Grønt AS5.7%16.6%127 MNOK
Frostagrønt AS5.0%25.3%89 MNOK
Norsk Agurk AS0.9%43.7%83 MNOK
J Karlsen Gartneri AS2.6%1.5%119 MNOK
Ureist AS−0.2%32.1%75 MNOK
Holte Gård Drangedal AS−1.9%34.9%68 MNOK
Lågen Potetpakkeri AS−2.5%30.9%133 MNOK
Hilverda de Boer Norge AS−6.0%9.7%319 MNOK
Lyssand Gartneri AS−1.4%9.9%68 MNOK
Elstøen Salatgartneri AS−2.2%−0.6%239 MNOK
Hveem Nord Østre AS−1.0%7.1%55 MNOK
Huseby Gård AS−1.1%7.1%166 MNOK

Holding and investment companies · 2025

18 companies in the sector are holding or investment companies. They are kept out of the ranking above, since revenue, margins and growth say little about a company that lives from ownership. They are ranked on their own here: 5 have at least 10 MNOK in assets and are listed.

Holding and investment companies
RankCompanyScore Equity ratioReturn on assetsCurrent ratioTotal assets
1Torbjørn Mellbye 2 Holding AS94 100.0%34.1% –13 MNOK
2Sydsæther Holding AS60 84.4%17.1% 11.3667 MNOK
3Lyngstad Holding AS56 100.0%13.6% –41 MNOK
4Klingsheim Holding AS30 79.5%16.0% 3.2912 MNOK
5Hildenes Gartneri Holding AS20 96.0%0.6% 0.7214 MNOK

Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology

In our articles

All articles

Scenario analysis: the sector's weakest year

The sector's weakest year was 2023, with a median operating margin of 6.0%.

Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal yearMedian operating marginMedian equity ratio
2019––
2020––
2021––
202248.5%33.2%
2023 · weakest year6.0%44.0%
20247.1%45.4%
20256.1%43.6%

In 2023, 172 ranked companies did better than the sector, 88 about the same and 93 weaker.

Held up best in 2023

  1. 1Humlestad Østre ASequity ratio 29.3%96.5%
  2. 2AS LISTER SKOGANLÆGequity ratio 51.2%82.2%
  3. 3Statskog Børresen ASequity ratio 98.3%78.7%
  4. 4Ghs Eiendom ASequity ratio 16.5%74.8%
  5. 5Eikland Øko ASequity ratio 42.7%74.5%
  6. 6Modell og Metall ASequity ratio 35.4%73.8%
  7. 7Ste Eiendom ASequity ratio 30.6%73.1%
  8. 8Byrkjeland Drift ASequity ratio 52.6%72.1%
  9. 9Nubberud Skogsdrift ASequity ratio 54.8%65.6%
  10. 10Kringsjå Samdrift ASequity ratio 84.9%64.0%

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 fell 1.0 percentage points.

Consumer price index per year and the sector's median operating margin
Measure202120222023202420252026
Consumer price index, annual average84.389.294.197.0100.0102.9 (so far)
Change from the year before+3.5%+5.8%+5.5%+3.2%+3.0%+2.9%
Sector's median operating margin–48.5%6.0%7.1%6.1%–

Source: SSB (14710, CC BY 4.0). Source · fetched 3 November 2026

EUR/NOK (kr)

Latest value: 10.59 (2026-10)

EUR/NOK rose 0.8% in 2025; the sector's median operating margin fell 1.0 percentage points.

EUR/NOK per year and the sector's median operating margin
Measure202120222023202420252026
EUR/NOK, annual average10.1610.1011.4211.6211.7211.04 (so far)
Change from the year before−5.2%−0.6%+13.1%+1.8%+0.8%−5.8%
Sector's median operating margin–48.5%6.0%7.1%6.1%–

Source: Norges Bank (EXR, NLOD 2.0). 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 1.0 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 margin–48.5%6.0%7.1%6.1%–

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

When policy rate fell in 2025, 185 of 374 ranked companies kept their operating margin at or above the year before. Among the largest: Hvebergsmoen Potetpakkeri AS (4.3% → 4.8%), Andersen Gartneri AS (2.0% → 2.9%), Animalia AS (0.9% → 2.4%), BJERTNÆS & Hoel AS (10.1% → 11.3%), Wiig Gartneri AS (6.6% → 8.3%).

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.

Bankruptcies in the industry

26 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change +52.9% against the four quarters before (17).

62024K412025K132025K272025K3122025K482026K132026K232026K3

Source: Statistics Norway (SSB), table 10790. 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
01*Hele hovedgruppe 01
01.110Dyrking av korn, unntatt ris, belgvekster og oljeholdige vekster
01.130Dyrking av grønnsaker, meloner, rot- og knollvekster
01.150Dyrking av tobakk
01.160Dyrking av fibervekster
01.190Dyrking av ettårige vekster ellers
01.210Dyrking av druer
01.240Dyrking av kjernefrukter og steinfrukter
01.250Dyrking av annen frukt som vokser på trær eller busker samt nøtter
01.270Dyrking av vekster for produksjon av drikkevarer
01.280Dyrking av krydder og aromatiske, medisinske og farmasøytiske vekster
01.290Dyrking av flerårige vekster ellers
01.300Planteformering
01.410Melkeproduksjon på storfe og oppdrett av melkekyr
01.420Oppdrett av annet storfe til kjøttproduksjon og sædproduksjon
01.430Hestehold
01.440Oppdrett av kameler og andre kameldyr
01.451Sauehold
01.452Geitehold
01.460Svinehold
01.471Hold av verpehøner for konsumeggproduksjon
01.479Annet fjørfehold
01.481Reindrift
01.489Husdyrhold ikke nevnt annet sted
01.500Kombinert husdyrhold og planteproduksjon
01.610Tjenester tilknyttet planteproduksjon
01.620Tjenester tilknyttet husdyrhold
01.630Etterbehandling av vekster etter innhøsting og behandling av såfrø
01.700Jakt, fangst, viltstell og tilknyttede tjenester
02*Hele hovedgruppe 02
02.100Skogskjøtsel og andre skogbruksaktiviteter
02.200Avvirkning
02.300Innsamling av viltvoksende produkter av annet enn tre
02.400Tjenester tilknyttet skogbruk