Sector

Teknisk tjenesteyting og forskning

2,572 companies ranked against comparable companies in four Morning company classes. Fiscal year 2024. 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 · 2024 · Morning class Large

Morning class Large · 2024
#	Company	Profile	Score	Change
1	Autostore AS	Leader	78	+29
2	Axess Asset Integrity AS	Leader	78	+37
3	TGS Operations AS	Leader	78	−7
4	Techouse AS	Leader	74	−5
5	Multiconsult Norge AS	Leader	68	−1
6	SINTEF Energi AS	Steward	67	+1
7	Metier AS	Leader	67	+12
8	Afry Norway Advisory AS	Sprinter	67	+3
9	Omd AS	Steward	64	+2
10	Reach Subsea AS	Leader	63	+2
11	Asplan Viak AS	Steward	63	−14
12	Element Logic AS	Sprinter	63	+21
13	Siemens Energy AS	Sprinter	62	+32
14	Rambøll Norge AS	Leader	61	0
15	CGG SERVICES (NORWAY) AS	Sprinter	61	+12
16	Dnv AS	Steward	60	+5
17	SINTEF Ocean AS	Steward	59	−5
18	Fugro Norway AS	Sprinter	57	−2
19	TGS ASA	Leader	56	+21
20	Logistic Contractor Norge AS	Sprinter	56	+51
21	Norges Sjømatråd AS	Steward	56	−13
22	Jcdecaux Norge AS	Sprinter	56	+8
23	AF Energi AS	Sprinter	56	−8
24	Cambi Group AS	Sprinter	54	+11
25	Siemens Mobility AS	Sprinter	53	0
26	Norges Geotekniske Institutt AS	Steward	53	–
27	Sweco Norge AS	Sprinter	52	−11
28	Eyvi AS	Leader	51	+5
29	Norconsult Norge AS	Leader	51	−14
30	Nofima AS	Steward	51	−6
31	Odfjell Engineering AS	Sprinter	51	+7
32	Hrp AS	Steward	50	−9
33	Airthings AS	Steward	48	0
34	Dnv Business Assurance Norway AS	Leader	48	0
35	Seaonics AS	Builder	47	+19
36	Cowi AS	Sprinter	47	−10
37	SINTEF AS	Steward	46	−2
38	Siemens AS	Sprinter	44	+5
39	Head Energy Consulting AS	Sprinter	44	+17
40	Afry Norway AS	Steward	42	+10
41	Wsp Norge AS	Steward	42	+13
42	Goodtech ASsubsidiary of Goodtech ASA	Sprinter	40	+6
43	Vestas Norway AS	Sprinter	40	+11
44	Ikm Consultants AS	Builder	40	+13
45	Mediabrands AS	Builder	34	+6
46	Dentsu Norge AS	Builder	33	+3
47	Scanship AS	Builder	32	+12
48	Wpp Media Norway AS	Builder	32	+18
49	Norce Research AS	Builder	30	−1
50	PGS Geophysical ASsubsidiary of TGS ASA	Steward	28	−43

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

PGS Geophysical AS
From 2023 to 2024: the operating margin fell from 8.1% to −25.2% and went from a profit to a loss before tax.
−43
Anicura AS
From 2023 to 2024: went from a profit to a loss before tax and the operating margin fell from −0.5% to −8.9%.
−32
Siemens Energy AS
From 2023 to 2024: the operating margin rose from 3.7% to 10.9% and the equity ratio rose from 10.4% to 26.8%.
+32
Shearwater Geoservices Norway AS
From 2023 to 2024: the operating margin fell from 8.4% to −0.2% and revenue fell by 30%.
−29

Top lists in the sector · 2024 · Morning class Large

The five largest companies account for 34% of the sector's revenue. Combined profit before tax for the 56 ranked companies: 7,376 MNOK.

Highest revenue

Dnv AS 12,782 MNOK
Norconsult Norge AS 6,590 MNOK
Autostore AS 6,406 MNOK
Multiconsult Norge AS 4,922 MNOK
Siemens Energy AS 4,864 MNOK

Operating revenue.

Highest operating margin

Autostore AS 42.4%
Element Logic AS 32.5%
TGS ASA 28.6%
Cambi Group AS 28.6%
Fugro Norway AS 24.3%

Operating result divided by operating revenue.

Largest profit

Autostore AS 2,860 MNOK
Dnv AS 2,529 MNOK
Element Logic AS 534 MNOK
Siemens Energy AS 524 MNOK
Multiconsult Norge AS 503 MNOK

Profit before tax.

Largest loss

Airthings AS −1,153 MNOK
PGS Geophysical ASsubsidiary of TGS ASA −934 MNOK
Slb Capturi Norway AS −603 MNOK
TGS ASA −512 MNOK
Anicura AS −71 MNOK

Profit before tax, the largest negative.

Most solid

Dnv AS 79.3%
Airthings AS 72.2%
Norges Sjømatråd AS 71.8%
TGS Operations AS 56.7%
SINTEF Ocean AS 53.9%

Equity ratio: equity divided by total assets.

Fastest growth

Logistic Contractor Norge AS +3,793.5%
TGS Operations AS +90.7%
Eyvi AS +88.7%
Jcdecaux Norge AS +68.7%
CGG SERVICES (NORWAY) AS +53.8%

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

Largest revenue decline

Vestas Norway AS −34.6%
Shearwater Geoservices Norway AS −29.9%
PGS Geophysical ASsubsidiary of TGS ASA −22.3%
Afry Norway AS −18.5%
Dentsu Norge AS −7.9%

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

Biggest climbers

Siemens Energy AS +32.5 points
Autostore AS +28.9 points
TGS ASA +21.3 points
Element Logic AS +20.9 points
Seaonics AS +19.0 points

Change in index points from the year before.

Biggest fallers

PGS Geophysical ASsubsidiary of TGS ASA −43.3 points
Anicura AS −31.5 points
Shearwater Geoservices Norway AS −29.3 points
Norconsult Norge AS −13.7 points
Asplan Viak AS −13.4 points

Change in index points from the year before.

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

Logistic Contractor Norge AS 109.7 MNOK
Airthings AS 95.7 MNOK
TGS Operations AS 55.1 MNOK
CGG SERVICES (NORWAY) AS 37.4 MNOK
TGS ASA 33.4 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 · 2024 · 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 2023 (small ring).

Autostore AS profitability 48 → 99, solidity 35 → 81
PGS Geophysical AS profitability 66 → 4, solidity 90 → 74
Shearwater Geoservices Norway AS profitability 83 → 22, solidity 45 → 33
TGS ASA profitability 60 → 61, solidity 31 → 76
Siemens Energy AS profitability 47 → 77, solidity 18 → 50

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 2023 (profitability / solidity)
Autostore AS	Lion	99	81	48 / 35
Cambi Group AS	Cheetah	97	24	–
Fugro Norway AS	Cheetah	95	44	96 / 57
Element Logic AS	Cheetah	94	17	89 / 2
CGG SERVICES (NORWAY) AS	Cheetah	91	37	76 / 37
Odfjell Engineering AS	Cheetah	91	11	91 / 10
TGS Operations AS	Lion	87	94	–
Afry Norway Advisory AS	Cheetah	83	43	81 / 47
Jcdecaux Norge AS	Cheetah	82	39	–
Axess Asset Integrity AS	Lion	79	80	–
Multiconsult Norge AS	Lion	78	59	75 / 63
Techouse AS	Lion	77	89	73 / 84
Siemens Energy AS	Cheetah	77	50	47 / 18
Siemens Mobility AS	Cheetah	76	18	75 / 22
Reach Subsea AS	Lion	75	65	89 / 65
Siemens AS	Cheetah	74	30	69 / 24
Logistic Contractor Norge AS	Cheetah	70	13	–
AF Energi AS	Cheetah	70	35	73 / 53
Sweco Norge AS	Cheetah	67	48	74 / 67
Metier AS	Lion	65	85	40 / 76
Norconsult Norge AS	Lion	63	57	75 / 69
TGS ASA	Lion	61	76	60 / 31
Goodtech AS	Cheetah	60	22	56 / 25
Vestas Norway AS	Cheetah	57	15	27 / 12
Cowi AS	Cheetah	55	31	68 / 41
Rambøll Norge AS	Lion	52	61	54 / 61
Eyvi AS	Lion	52	54	–
Head Energy Consulting AS	Cheetah	52	2	45 / 0
Dnv Business Assurance Norway AS	Lion	50	52	73 / 51
SINTEF Energi AS	Elephant	49	87	40 / 82
Ikm Consultants AS	Beaver	48	4	39 / 4
Hrp AS	Elephant	47	67	45 / 71
Dnv AS	Elephant	46	100	47 / 98
Norges Geotekniske Institutt AS	Elephant	45	69	–
Dentsu Norge AS	Beaver	38	20	27 / 27
Publicis Communications Norway AS	Beaver	36	6	37 / 6
Omd AS	Elephant	35	78	31 / 73
Asplan Viak AS	Elephant	35	91	44 / 92
Seaonics AS	Beaver	35	41	22 / 33
Scanship AS	Beaver	35	9	6 / 14
Ewos Innovation AS	Beaver	27	7	–
SINTEF AS	Elephant	26	56	27 / 49
SINTEF Ocean AS	Elephant	25	93	21 / 88
Shearwater Geoservices Norway AS	Beaver	22	33	83 / 45
Wsp Norge AS	Elephant	19	63	3 / 59
Norce Research AS	Beaver	19	28	22 / 29
Norges Sjømatråd AS	Elephant	15	96	19 / 96
Nofima AS	Elephant	13	83	16 / 75
Afry Norway AS	Elephant	13	72	7 / 55
Mediabrands AS	Beaver	13	46	9 / 39

The sector in numbers

Summary · fiscal year 2024 · Morning class Large

The sector's median operating margin is 3.0%. 3 of 57 companies have negative equity. The median equity ratio is 26.4%.

Companies with accounts57

Total revenue104,109 MNOK

Median operating margin3.0%

Median equity ratio26.4%

Share with a loss23%

Share with negative equity5%

All figures are for fiscal year 2024. Ranked: 56 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

5 companies report in another currency. Their revenue is converted at the mean rate for the accounting period and makes up 11% of the total.

Climbers and fallers · Morning class Large

Change in rank from 2023 to 2024, for 47 companies ranked in both years.

Climbers

28Autostore ASfrom rank 29 to 178
28Siemens Energy ASfrom rank 41 to 1362
22Element Logic ASfrom rank 34 to 1263
19Metier ASfrom rank 26 to 767
17TGS ASAfrom rank 36 to 1956

Fallers

43PGS Geophysical ASfrom rank 7 to 5028
30Anicura ASfrom rank 24 to 5424
28Shearwater Geoservices Norway ASfrom rank 23 to 5127
18Norconsult Norge ASfrom rank 11 to 2951
14Cowi ASfrom rank 22 to 3647

Awards · 2024 · Morning class Large

Most profitableAutostore AS42.4%

Fastest growthLogistic Contractor Norge AS3,793.5%

Strongest balance sheetDnv AS79.3%

Largest revenueDnv AS12,782 MNOK

Highest revenue per employeeLogistic Contractor Norge AS109.7 MNOK

Needs attention · 2024 · Morning class Large

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

criticalSlb Capturi Norway ASNegative equity · Current ratio below 1 (0.41) · Loss before tax
criticalRystad Energy ASNegative equity · Current ratio below 1 (0.83) · Loss before tax
criticalArgeo Survey ASNegative equity · Current ratio below 1 (0.44) · Loss before tax
watchTGS ASACurrent ratio below 1 (0.68) · Loss before tax
watchAnicura ASCurrent ratio below 1 (0.96) · Loss before tax
watchScanship ASVery low equity ratio (7.9%) · Loss before tax
watchEwos Innovation ASVery low equity ratio (7.8%) · Current ratio below 1 (0.27)
watchDnv ASCurrent ratio below 1 (0.99)
watchNorconsult Norge ASCurrent ratio below 1 (0.99)
watchAirthings ASLoss before tax
watchPGS Geophysical ASLoss before tax
watchCGG SERVICES (NORWAY) ASCurrent ratio below 1 (0.36)
watchReach Subsea ASCurrent ratio below 1 (0.93)
watchSiemens ASCurrent ratio below 1 (0.68)
watchPublicis Communications Norway ASVery low equity ratio (6.8%)

Sector map · 2024 · 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
Autostore AS	42.4%	46.0%	6,406 MNOK
Axess Asset Integrity AS	7.1%	38.2%	514 MNOK
TGS Operations AS	21.9%	56.7%	716 MNOK
Techouse AS	8.1%	51.0%	804 MNOK
Multiconsult Norge AS	10.0%	29.5%	4,922 MNOK
SINTEF Energi AS	6.8%	50.7%	776 MNOK
Metier AS	7.0%	47.4%	921 MNOK
Afry Norway Advisory AS	9.4%	23.0%	1,402 MNOK
Omd AS	1.1%	38.1%	1,433 MNOK
Reach Subsea AS	10.0%	30.2%	2,402 MNOK
Asplan Viak AS	1.8%	52.7%	1,918 MNOK
Element Logic AS	32.5%	11.3%	957 MNOK
Siemens Energy AS	10.9%	26.8%	4,864 MNOK
Rambøll Norge AS	4.1%	29.7%	2,261 MNOK
CGG SERVICES (NORWAY) AS	22.5%	21.6%	2,507 MNOK
Dnv AS	2.5%	79.3%	12,782 MNOK
SINTEF Ocean AS	0.5%	53.9%	811 MNOK
Fugro Norway AS	24.3%	24.5%	1,417 MNOK
TGS ASA	28.6%	36.7%	2,069 MNOK
Logistic Contractor Norge AS	5.3%	10.7%	548 MNOK
Norges Sjømatråd AS	−2.9%	71.8%	652 MNOK
Jcdecaux Norge AS	10.7%	22.1%	595 MNOK
AF Energi AS	7.2%	20.9%	672 MNOK
Cambi Group AS	28.6%	15.0%	514 MNOK
Siemens Mobility AS	9.4%	11.7%	1,405 MNOK
Norges Geotekniske Institutt AS	2.8%	30.8%	805 MNOK
Sweco Norge AS	9.2%	25.9%	3,468 MNOK
Eyvi AS	3.0%	28.4%	778 MNOK
Norconsult Norge AS	5.3%	29.3%	6,590 MNOK
Nofima AS	−3.2%	47.0%	736 MNOK
Odfjell Engineering AS	11.7%	9.5%	638 MNOK
Hrp AS	3.1%	30.4%	782 MNOK
Airthings AS	−29.6%	72.2%	4,592 MNOK
Dnv Business Assurance Norway AS	2.3%	26.9%	937 MNOK
Seaonics AS	2.4%	22.3%	693 MNOK
Cowi AS	3.1%	20.0%	2,576 MNOK
SINTEF AS	0.2%	29.1%	2,710 MNOK
Siemens AS	7.8%	16.2%	2,336 MNOK
Head Energy Consulting AS	3.0%	4.7%	1,141 MNOK
Afry Norway AS	−2.3%	32.7%	714 MNOK
Wsp Norge AS	−0.4%	29.9%	848 MNOK
Goodtech AS	4.2%	14.9%	732 MNOK
Vestas Norway AS	8.7%	11.0%	506 MNOK
Ikm Consultants AS	2.8%	5.5%	981 MNOK
Mediabrands AS	−1.5%	25.6%	600 MNOK
Dentsu Norge AS	0.7%	12.9%	2,764 MNOK
Scanship AS	1.9%	7.9%	731 MNOK
Wpp Media Norway AS	−3.5%	15.9%	553 MNOK
Norce Research AS	−0.9%	16.1%	1,240 MNOK
PGS Geophysical AS	−25.2%	32.7%	3,358 MNOK
Shearwater Geoservices Norway AS	−0.2%	20.6%	1,992 MNOK
Ewos Innovation AS	−0.1%	7.8%	512 MNOK
Publicis Communications Norway AS	1.6%	6.8%	1,467 MNOK
Anicura AS	−8.9%	31.3%	742 MNOK
Rystad Energy AS	−6.6%	−9.1%	915 MNOK
Slb Capturi Norway AS	−31.6%	−33.0%	1,824 MNOK

Holding and investment companies · 2024

249 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: 73 have at least 10 MNOK in assets and are listed.

Holding and investment companies
Rank	Company	Score	Equity ratio	Return on assets	Current ratio	Total assets
1	Off Grid Invest AS	92	100.0%	56.7%	3,083.03	15 MNOK
2	AEB HOLDING & CO AS	92	99.8%	75.1%	420.71	16 MNOK
3	Equilibrium Holding AS	87	99.3%	97.6%	139.30	22 MNOK
4	Holder Fast Invest AS	78	99.7%	22.8%	329.18	46 MNOK
5	Finnøy Betong Holding AS	76	99.7%	18.4%	296.77	41 MNOK
6	P5 Invest AS	76	91.5%	107.4%	7.80	29 MNOK
7	Dynamic Precision Holding AS	74	98.1%	33.4%	20.91	60 MNOK
8	Pem Invest AS	74	97.4%	29.1%	55.40	27 MNOK
9	Karl Parmann Holding AS	72	97.7%	24.7%	41.10	132 MNOK
10	OERE INVEST & Consulting AS	71	99.6%	14.5%	234.86	18 MNOK
11	Reikvam Holding AS	70	97.2%	95.2%	0.97	26 MNOK
12	Diwp Holding AS	69	100.0%	4.7%	30,332.83	88 MNOK
13	Conceptum Invest AS	69	99.9%	8.6%	265.17	17 MNOK
14	Palander Holding AS	69	99.4%	12.3%	151.10	63 MNOK
15	Sab Holding AS	68	99.8%	9.0%	188.66	21 MNOK
16	Melby Investments AS	66	99.8%	6.6%	258.49	34 MNOK
17	Cfs Holding AS	65	96.0%	14.5%	73.63	21 MNOK
18	Blå Holding AS	64	99.0%	11.2%	31.69	20 MNOK
19	Wiwa Holding AS	62	86.7%	51.2%	3.86	29 MNOK
20	Resman Holding 1 AS	61	100.0%	0.0%	495.75	676 MNOK

Show all 73

Rank	Company	Score	Total assets
21	Koj Invest AS	61	39 MNOK
22	Basthe Invest AS	60	34 MNOK
23	Cap Nord Holding AS	58	32 MNOK
24	Visomi Holding AS	56	21 MNOK
25	Herbrandsen Invest AS	56	70 MNOK
26	Snf Holding AS	56	27 MNOK
27	Cosmos Invest AS	54	22 MNOK
28	Structor Holding AS	52	16 MNOK
29	AH Holding AS	52	50 MNOK
30	Tekka Holding AS	52	10 MNOK
31	G. Greve Holding AS	52	77 MNOK
32	4Tau Holding AS	51	10 MNOK
33	Dimb Invest AS	51	12 MNOK
34	Ids Invest AS	50	127 MNOK
35	Ibms Holding AS	50	12 MNOK
36	Vårdal Herskedal Holding AS	49	10 MNOK
37	Mood Holding AS	49	19 MNOK
38	Core Group Holding AS	49	11 MNOK
39	Montana Holding AS	48	29 MNOK
40	Vende Invest AS	48	16 MNOK
41	BREKKE & Strand Holding AS	47	41 MNOK
42	Opifex Holding AS	46	12 MNOK
43	Olav Olsen Holding AS	46	57 MNOK
44	Morten Hillestad Holding AS	46	40 MNOK
45	Tertit Invest AS	45	11 MNOK
46	OP Invest AS	44	2,584 MNOK
47	Sannergata 13 A-B Holding AS	43	44 MNOK
48	Well Cleanup Holding AS	43	50 MNOK
49	Krohnark Holding AS	43	17 MNOK
50	Knudstad Holding AS	42	25 MNOK
51	WE Are Live Holding AS	41	29 MNOK
52	Olje Invest AS	41	12 MNOK
53	Freyja Invest AS	40	16 MNOK
54	Hhg Holding AS	39	16 MNOK
55	Wal Holding AS	38	30 MNOK
56	Devino Invest AS	37	14 MNOK
57	S. Sunde Holding AS	37	11 MNOK
58	PS Dale Holding AS	36	11 MNOK
59	Janfo Invest AS	36	69 MNOK
60	Eisa Holding AS	35	15 MNOK
61	Ll12 Holding AS	34	12 MNOK
62	Navico Holding AS	34	6,572 MNOK
63	Hydrawell Holding AS	31	458 MNOK
64	Alex-Holding AS	27	243 MNOK
65	Låshuset Holding AS	25	19 MNOK
66	Fire Security Holding AS	24	50 MNOK
67	Saunders Holding AS	22	12 MNOK
68	Wallenius Wilhelmsen Solutions Holding AS	21	8,496 MNOK
69	Høvding Holding AS	20	23 MNOK
70	Bba Holding AS	19	27 MNOK
71	Ikm Acona Holding AS	18	50 MNOK
72	Telemark Technologies Holding AS	16	33 MNOK
73	Grand Cru Holding AS	12	13 MNOK

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)

Latest value: 1,069 (2026M09)

Export price of crude oil fell 17.6% in 2025; the sector's median operating margin fell 0.5 percentage points.

Export price of crude oil per year and the sector's median operating margin
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)

Latest value: 4.50 (2026-10)

Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin fell 0.5 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	4.17 (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)

Latest value: 10.59 (2026-10)

EUR/NOK rose 0.8% in 2025; the sector's median operating margin fell 0.5 percentage points.

EUR/NOK per year and the sector's median operating margin
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, 1,256 of 2,508 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

Aipex AS 832166472 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
Aker Offshore Wind USA AS 925218863 Voluntary liquidation · 31 October 2026
Apex Venture AS 932159929 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
B Aspen Prosjektledelse AS 931015966 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
Bakke Illustrations AS 930852252 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
Bargutta AS 929672615 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
Bonvita Markedsføring Amdg AS 928635139 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
Cleanbed AS 986639411 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)

All bankruptcies and liquidations in the sector

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