Teknisk tjenesteyting og forskning
FollowDownload sector report (PDF)2,544 companies ranked against comparable companies in four Morning company classes. Fiscal year 2023. Source: Brønnøysund Register Centre. Methodology
Ranking · 2023 · Morning class Large
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
- Vestas Norway AS−5
From 2022 to 2023: the operating margin fell from 8.8% to 1.3% and revenue grew by 37%.
Top lists in the sector · 2023 · Morning class Large
The five largest companies account for 36% of the sector's revenue. Combined profit before tax for the 52 ranked companies: 10,946 MNOK.
Size
The largest by revenue and employees, and who earns the most per employee.
Highest revenue
- Dnv AS 11,931 MNOK
- Autostore AS 6,718 MNOK
- Norconsult Norge AS 6,215 MNOK
- Multiconsult Norge AS 4,371 MNOK
- PGS Geophysical ASsubsidiary of TGS ASA 4,319 MNOK
Operating revenue.
Most employees
- Norconsult Norge AS 4,418
- Multiconsult Norge AS 2,884
- Dnv AS 2,342
- Sweco Norge AS 2,256
- SINTEF AS 1,509
Employees according to the Central Coordinating Register.
Highest revenue per employee
- Shearwater Geoservices Norway AS 35.8 MNOK
- TGS ASA 27.4 MNOK
- CGG SERVICES (NORWAY) AS 23.9 MNOK
- Omd AS 19.6 MNOK
- PGS Geophysical ASsubsidiary of TGS ASA 19.2 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
- Navico Holding AS 100.0%
- Element Logic AS 29.3%
- Syncrolift AS 25.8%
- Fugro Norway AS 22.6%
- TGS ASA 22.1%
Operating result divided by operating revenue.
Largest profit
- Navico Holding AS 3,512 MNOK
- Dnv AS 2,338 MNOK
- Norconsult Norge AS 652 MNOK
- PGS Geophysical ASsubsidiary of TGS ASA 499 MNOK
- Autostore AS 431 MNOK
Profit before tax.
Largest loss
- Slb Capturi Norway AS −208 MNOK
- Scanship AS −95 MNOK
- TGS ASA −30 MNOK
- Wsp Norge AS −29 MNOK
- Afry Norway AS −25 MNOK
Profit before tax, the largest negative.
Most solid
- Navico Holding AS 85.9%
- Dnv AS 71.9%
- Norges Sjømatråd AS 68.3%
- Letsea AS 52.1%
- Asplan Viak AS 49.3%
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
- Anicura AS +1,710.6%
- Vestas Norway AS +36.7%
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
No company meets the requirement this year.
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
Requires an index for two financial years.
Change in index points from the year before.
Biggest fallers
- Vestas Norway AS −5.4 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.
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 1 companies that moved most stood in 2022 (small ring).
- Vestas Norway AS profitability 53 → 27, solidity 8 → 12
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
Summary · fiscal year 2023 · Morning class Large
The sector's median operating margin is 4.2%. 0 of 52 companies have negative equity. The median equity ratio is 24.0%.
All figures are for fiscal year 2023. Ranked: 52 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index
- 4 companies report in another currency. Their revenue is converted at the mean rate for the accounting period and makes up 9% of the total.
Climbers and fallers · Morning class Large
Change in rank from 2022 to 2023, for 1 companies ranked in both years.
Climbers
None.
Fallers
- 42Vestas Norway ASfrom rank 1 to 4329
Awards · 2023 · Morning class Large
Needs attention · 2023 · Morning class Large
25 companies show at least one warning sign. Showing the 15 most important.
- watchRystad Energy ASVery low equity ratio (9.8%) · Current ratio below 1 (0.99) · Loss before tax
- watchTGS ASACurrent ratio below 1 (0.53) · Loss before tax
- watchSlb Capturi Norway ASCurrent ratio below 1 (0.67) · Loss before tax
- watchScanship ASVery low equity ratio (9.8%) · Loss before tax
- watchWpp Media Norway ASVery low equity ratio (7.7%) · Loss before tax
- watchDnv ASCurrent ratio below 1 (0.89)
- watchSiemens Energy ASCurrent ratio below 1 (0.96)
- watchSweco Norge ASCurrent ratio below 1 (0.97)
- watchDentsu Norge ASCurrent ratio below 1 (0.96)
- watchSiemens ASCurrent ratio below 1 (0.76)
- watchReach Subsea ASCurrent ratio below 1 (0.85)
- watchCGG SERVICES (NORWAY) ASCurrent ratio below 1 (0.26)
- watchPublicis Communications Norway ASVery low equity ratio (7.3%)
- watchNorce Research ASCurrent ratio below 1 (1.00)
- watchWsp Norge ASLoss before tax
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 |
|---|---|---|---|
| Navico Holding AS | 100.0% | 85.9% | 2,796 MNOK |
| Syncrolift AS | 25.8% | 43.0% | 514 MNOK |
| Letsea AS | 4.3% | 52.1% | 605 MNOK |
| Techouse AS | 4.9% | 44.8% | 824 MNOK |
| Asplan Viak AS | 3.7% | 49.3% | 1,840 MNOK |
| Bauer Media Outdoor Norge AS | 5.9% | 42.7% | 571 MNOK |
| PGS Geophysical AS | 8.1% | 48.0% | 4,319 MNOK |
| Multiconsult Norge AS | 9.0% | 28.2% | 4,371 MNOK |
| Norges Sjømatråd AS | −0.8% | 68.3% | 640 MNOK |
| SINTEF Energi AS | 4.6% | 44.0% | 698 MNOK |
| Norconsult Norge AS | 7.7% | 30.2% | 6,215 MNOK |
| SINTEF Ocean AS | 0.3% | 47.6% | 805 MNOK |
| AF Energi AS | 6.8% | 24.0% | 607 MNOK |
| Afry Norway Advisory AS | 8.3% | 22.3% | 1,104 MNOK |
| Sweco Norge AS | 9.0% | 29.7% | 3,299 MNOK |
| Omd AS | 1.5% | 36.2% | 1,252 MNOK |
| Reach Subsea AS | 15.9% | 28.9% | 1,865 MNOK |
| Rambøll Norge AS | 5.2% | 27.8% | 1,978 MNOK |
| Fugro Norway AS | 22.6% | 25.3% | 1,268 MNOK |
| Hrp AS | 4.1% | 32.8% | 731 MNOK |
| Nofima AS | −0.8% | 39.8% | 721 MNOK |
| Cowi AS | 6.7% | 20.1% | 2,462 MNOK |
| Shearwater Geoservices Norway AS | 8.4% | 20.9% | 2,793 MNOK |
| Anicura AS | −0.5% | 47.4% | 801 MNOK |
| Dnv AS | 3.5% | 71.9% | 11,931 MNOK |
| Metier AS | 3.6% | 41.2% | 738 MNOK |
| Siemens Mobility AS | 8.2% | 11.7% | 1,281 MNOK |
| Snøhetta Oslo AS | 7.6% | 11.2% | 506 MNOK |
| Autostore AS | 2.7% | 18.0% | 6,718 MNOK |
| CGG SERVICES (NORWAY) AS | 20.0% | 18.0% | 1,603 MNOK |
| Dnv Business Assurance Norway AS | 6.1% | 24.0% | 820 MNOK |
| SINTEF AS | 1.9% | 23.9% | 2,610 MNOK |
| Odfjell Engineering AS | 12.5% | 8.8% | 558 MNOK |
| Element Logic AS | 29.3% | 5.6% | 722 MNOK |
| Siemens AS | 7.1% | 12.9% | 2,282 MNOK |
| TGS ASA | 22.1% | 17.3% | 1,697 MNOK |
| Goodtech AS | 4.2% | 13.2% | 741 MNOK |
| Afry Norway AS | −2.6% | 24.8% | 876 MNOK |
| Norce Research AS | −2.2% | 14.9% | 1,179 MNOK |
| Dentsu Norge AS | 0.1% | 13.8% | 3,002 MNOK |
| Siemens Energy AS | 3.7% | 10.4% | 3,814 MNOK |
| Wsp Norge AS | −2.9% | 26.3% | 884 MNOK |
| Vestas Norway AS | 1.3% | 9.3% | 774 MNOK |
| Seaonics AS | 1.6% | 17.8% | 549 MNOK |
| Mediabrands AS | −2.0% | 19.1% | 594 MNOK |
| Ikm Consultants AS | 2.3% | 5.8% | 832 MNOK |
| Head Energy Consulting AS | 2.7% | 3.3% | 838 MNOK |
| Publicis Communications Norway AS | 2.3% | 7.3% | 1,517 MNOK |
| Scanship AS | −10.1% | 9.8% | 653 MNOK |
| Rystad Energy AS | −2.5% | 9.8% | 784 MNOK |
| Slb Capturi Norway AS | −13.7% | 20.6% | 1,620 MNOK |
| Wpp Media Norway AS | −2.8% | 7.7% | 511 MNOK |
Holding and investment companies · 2023
244 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: 69 have at least 10 MNOK in assets and are listed.
| Rank | Company | Score | Equity ratio | Return on assets | Current ratio | Total assets |
|---|---|---|---|---|---|---|
| 1 | A-Lab Holding AS | 93 | 99.1% | 304.7% | 32,646.09 | 16 MNOK |
| 2 | OERE INVEST & Consulting AS | 88 | 99.6% | 52.9% | 264.77 | 16 MNOK |
| 3 | Tertit Invest AS | 82 | 97.7% | 81.2% | 33.11 | 30 MNOK |
| 4 | Blå Holding AS | 81 | 98.5% | 60.1% | 15.93 | 19 MNOK |
| 5 | Cfs Holding AS | 76 | 96.5% | 32.1% | 914.93 | 18 MNOK |
| 6 | Holder Fast Invest AS | 76 | 99.5% | 19.3% | 180.95 | 36 MNOK |
| 7 | Steinteig Invest AS | 76 | 96.5% | 40.7% | – | 10 MNOK |
| 8 | Camah Invest AS | 74 | 99.7% | 13.3% | 121.59 | 12 MNOK |
| 9 | Sab Holding AS | 70 | 98.0% | 12.3% | 358.47 | 20 MNOK |
| 10 | Snf Holding AS | 69 | 97.5% | 24.3% | 26.44 | 25 MNOK |
| 11 | Freyja Invest AS | 69 | 90.5% | 59.5% | 8.80 | 17 MNOK |
| 12 | Conceptum Invest AS | 68 | 99.9% | 7.2% | 152.15 | 16 MNOK |
| 13 | OP Invest AS | 66 | 100.0% | 2.0% | 1,020.75 | 2,298 MNOK |
| 14 | Melby Investments AS | 64 | 99.7% | 3.8% | 191.50 | 32 MNOK |
| 15 | Palander Holding AS | 64 | 100.0% | 3.8% | – | 55 MNOK |
| 16 | Hhg Holding AS | 63 | 100.0% | 0.1% | 4,984.58 | 16 MNOK |
| 17 | Jaf Holding AS | 62 | 76.2% | 59.6% | – | 11 MNOK |
| 18 | Koj Invest AS | 62 | 99.7% | 8.4% | 12.87 | 37 MNOK |
| 19 | Resman Holding 1 AS | 62 | 100.0% | 0.0% | 3,963.99 | 676 MNOK |
| 20 | Finnøy Betong Holding AS | 61 | 84.4% | 49.3% | 4.77 | 45 MNOK |
Show all 69
Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology
Scenario analysis: the sector's weakest year
The sector's weakest year was 2021, with a median operating margin of −0.2%.
Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported.
| Fiscal year | Median operating margin | Median equity ratio |
|---|---|---|
| 2019 | – | – |
| 2020 | – | – |
| 2021 · weakest year | −0.2% | 4.0% |
| 2022 | 4.6% | 35.8% |
| 2023 | 5.8% | 38.6% |
| 2024 | 6.0% | 38.2% |
| 2025 | 5.5% | 38.6% |
| 2026 | 6.8% | 35.7% |
In 2021, 0 ranked companies did better than the sector, 1 about the same and 0 weaker.
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.
Export price of crude oil (kr per fat)
Export price of crude oil fell 17.6% in 2025; the sector's median operating margin fell 0.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Export price of crude oil, annual average | 609 | 979 | 877 | 859 | 708 | 881 (so far) |
| Change from the year before | +61.1% | +60.8% | −10.5% | −2.0% | −17.6% | +24.5% |
| Sector's median operating margin | −0.2% | 4.6% | 5.8% | 6.0% | 5.5% | 6.8% |
Source: SSB (08799, CC BY 4.0). Source · fetched 2 November 2026
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin fell 0.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.17 (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 | −0.2% | 4.6% | 5.8% | 6.0% | 5.5% | 6.8% |
Source: Norges Bank (IR, NLOD 2.0). Source · fetched 2 November 2026
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the sector's median operating margin fell 0.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| EUR/NOK, annual average | 10.16 | 10.10 | 11.42 | 11.62 | 11.72 | 11.04 (so far) |
| Change from the year before | −5.2% | −0.6% | +13.1% | +1.8% | +0.8% | −5.8% |
| Sector's median operating margin | −0.2% | 4.6% | 5.8% | 6.0% | 5.5% | 6.8% |
Source: Norges Bank (EXR, NLOD 2.0). Source · fetched 2 November 2026
When export price of crude oil fell in 2025, 1,257 of 2,511 ranked companies kept their operating margin at or above the year before. Among the largest: Dnv AS (2.5% → 3.9%), Norconsult Norge AS (5.3% → 8.8%), Siemens Energy AS (10.9% → 14.1%), PGS Geophysical AS (−25.2% → 0.1%), Sweco Norge AS (9.2% → 9.7%).
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
- 39,300
- +1.8% from 2023
- Persons employed
- 104,649
- +0.9% from 2023
- Turnover
- NOK 270.1 bn
- +6.7% from 2023
- Gross operating margin
- 9.6%
- Gross operating surplus divided by turnover
All enterprises, sole proprietorships included.
Bankruptcies in the industry
216 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −17.9% against the four quarters before (263). That is about 5.5 per 1,000 enterprises.
Foreign-controlled enterprises · 2024
- Share of enterprises
- 2.6%
- Share of persons employed
- 19.6%
- Share of turnover
- 25.9%
SSB publishes this for groups of industries only. The figures are for the group “Faglig, vitenskapelig og teknisk tjenesteyting”.
Turnover index · Arkitekter og tekniske konsulenter
159.3 index, 2021 = 100, seasonally adjusted · 2026M08
−2.0% against 2025M08.
Monthly, 2023M08 to 2026M08.
Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 13863. 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
- 19Lfs AS 926800337 Forced dissolution · 2 November 2026
- 2C Media AS 896428942 Voluntary liquidation · 2 November 2026 · 1 MNOK (2025)
- Green Concept AS 997015053 Voluntary liquidation · 2 November 2026
- House of Home AS 933335739 Bankruptcy · 2 November 2026
- Lunco AS 934802756 Voluntary liquidation · 2 November 2026
- Marinesanering AS 923454241 Voluntary liquidation · 2 November 2026
- Mentor Prosjektering AS 992866233 Bankruptcy · 2 November 2026
- Nordic Horizon AS 932993988 Forced dissolution · 2 November 2026
Industry codes (NACE)
| Code | Description |
|---|---|
| 71* | Hele hovedgruppe 71 |
| 71.110 | Arkitektvirksomhet |
| 71.121 | Byggeteknisk konsulentvirksomhet |
| 71.122 | Geologiske undersøkelser |
| 71.123 | Utarbeidelse av kart og oppmåling |
| 71.129 | Annen teknisk konsulentvirksomhet |
| 71.200 | Teknisk prøving og analyse |
| 72* | Hele hovedgruppe 72 |
| 72.100 | Forskning og eksperimentell utvikling innenfor naturvitenskap og teknikk |
| 72.200 | Forskning og eksperimentell utvikling innenfor samfunnsvitenskap og humanistiske fag |
| 73* | Hele hovedgruppe 73 |
| 73.110 | Reklamebyråvirksomhet |
| 73.120 | Medieformidlingstjenester |
| 73.200 | Markeds- og opinionsundersøkelser |
| 73.300 | Pr og kommunikasjonstjenester |
| 74* | Hele hovedgruppe 74 |
| 74.110 | Industri-, produkt- og motedesignvirksomhet |
| 74.120 | Grafisk design og visuell kommunikasjonsdesign |
| 74.130 | Interiørdesignvirksomhet |
| 74.140 | Annen spesialisert designvirksomhet |
| 74.200 | Fotografvirksomhet |
| 74.300 | Oversettelses- og tolkevirksomhet |
| 74.910 | Patentmeglervirksomhet og markedsføringstjenester |
| 74.990 | All annen faglig, vitenskapelig og teknisk virksomhet ikke nevnt annet sted |
| 75* | Hele hovedgruppe 75 |
| 75.000 | Veterinærtjenester |