Transport og lagring
FollowDownload sector report (PDF)1,157 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
- NOR LINES NORWAY AS−24
From 2022 to 2023: went from a profit to a loss before tax and the equity ratio fell from 21.3% to 8.5%.
Top lists in the sector · 2023 · Morning class Large
The five largest companies account for 41% of the sector's revenue. Combined profit before tax for the 55 ranked companies: 1,643 MNOK.
Highest revenue
- POSTEN BRING AS 13,987 MNOK
- NORWEGIAN AIR SHUTTLE AOC ASsubsidiary of NORWEGIAN AIR SHUTTLE ASA 13,833 MNOK
- AVINOR AS 10,290 MNOK
- VYGRUPPEN AS 6,778 MNOK
- WIDERØE'S FLYVESELSKAP ASsubsidiary of WIDERØE AS 5,433 MNOK
Operating revenue.
Highest operating margin
- CLARKSONS NORWAY AS 36.2%
- NORWEGIAN AIR AS 31.2%
- WILHELMSEN SHIPS SERVICE AS 11.8%
- LKAB NORGE AS 11.1%
- AVINOR AS 11.0%
Operating result divided by operating revenue.
Largest profit
- NORWEGIAN AIR AS 1,333 MNOK
- WILHELMSEN SHIPS SERVICE AS 566 MNOK
- NORWEGIAN AIR SHUTTLE AOC ASsubsidiary of NORWEGIAN AIR SHUTTLE ASA 377 MNOK
- CLARKSONS NORWAY AS 338 MNOK
- AVINOR AS 299 MNOK
Profit before tax.
Largest loss
- NORSE ATLANTIC AIRWAYS AS −760 MNOK
- UNIBUSS ASsubsidiary of SPORVEIEN AS −544 MNOK
- NORWEGIAN AIR SHUTTLE ASA −400 MNOK
- TIDE BUSS AS −184 MNOK
- SPORVEIEN AS −167 MNOK
Profit before tax, the largest negative.
Most solid
- VY TOG ASsubsidiary of VYGRUPPEN AS 60.7%
- JAS WORLDWIDE NORWAY AS 59.8%
- NORSEA LOGISTICS AS 59.7%
- BRING CARGO AS 52.3%
- ASCO NORGE AS 52.3%
Equity ratio: equity divided by total assets.
Fastest growth
No company meets the requirement this year.
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
- NOR LINES NORWAY AS −8.9%
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
- NOR LINES NORWAY AS −23.6 points
Change in index points from the year before.
Most employees
- POSTEN BRING AS 10,033
- TIDE BUSS AS 3,859
- CONNECT BUS NORGE AS 2,553
- AVINOR AS 2,548
- VYGRUPPEN AS 2,485
Employees according to the Central Coordinating Register.
Highest revenue per employee
- AIR CARGO LOGISTICS AS 26.6 MNOK
- WILHELMSEN SHIPS SERVICE AS 18.9 MNOK
- KUEHNE + NAGEL AS 18.0 MNOK
- BRING INTERMODAL AS 14.6 MNOK
- THERMO-TRANSIT NORGE AS 13.0 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.
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).
- NOR LINES NORWAY AS profitability 50 → 11, solidity 48 → 13
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 0.9%. 3 of 59 companies have negative equity. The median equity ratio is 20.3%.
All figures are for fiscal year 2023. Ranked: 59 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: 4 subsidiaries (10,515 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
- 1 company reports in another currency. Its revenue is converted at the mean rate for the accounting period and makes up 2% 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
- 50NOR LINES NORWAY ASfrom rank 1 to 5125
Awards · 2023 · Morning class Large
Needs attention · 2023 · Morning class Large
36 companies show at least one warning sign. Showing the 15 most important.
- criticalNORSE ATLANTIC AIRWAYS ASNegative equity · Current ratio below 1 (0.61) · Loss before tax
- criticalUNIBUSS ASNegative equity · Current ratio below 1 (0.57) · Loss before tax
- criticalGO-AHEAD NORGE ASNegative equity · Current ratio below 1 (0.37) · Loss before tax
- watchHELTHJEM NETTHANDEL ASVery low equity ratio (3.2%) · Current ratio below 1 (0.80) · Loss before tax
- watchNOR LINES NORWAY ASVery low equity ratio (8.5%) · Current ratio below 1 (0.93) · Loss before tax
- watchNORWEGIAN AIR SHUTTLE AOC ASVery low equity ratio (4.0%) · Current ratio below 1 (0.98)
- watchVY BUSS ASCurrent ratio below 1 (0.70) · Loss before tax
- watchWIDERØE'S FLYVESELSKAP ASCurrent ratio below 1 (0.50) · Loss before tax
- watchPOSTNORD ASCurrent ratio below 1 (0.92) · Loss before tax
- watchKUEHNE + NAGEL ASVery low equity ratio (5.5%) · Current ratio below 1 (0.89)
- watchSPORVEIEN T-BANEN ASCurrent ratio below 1 (0.88) · Loss before tax
- watchSJ NORGE ASVery low equity ratio (0.3%) · Loss before tax
- watchSPORVEIEN ASCurrent ratio below 1 (0.67) · Loss before tax
- watchSPORVEIEN TRIKKEN ASCurrent ratio below 1 (0.98) · Loss before tax
- watchCARGONET ASCurrent ratio below 1 (0.69) · Loss 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 |
|---|---|---|---|
| NORSEA LOGISTICS AS | 9.7% | 59.7% | 1,118 MNOK |
| DHL EXPRESS (NORWAY) AS | 5.8% | 40.1% | 1,423 MNOK |
| BRING CARGO AS | 4.9% | 52.3% | 1,198 MNOK |
| JAS WORLDWIDE NORWAY AS | 0.3% | 59.8% | 1,228 MNOK |
| LKAB NORGE AS | 11.1% | 35.2% | 1,025 MNOK |
| B.H. RAMBERG AS | 3.6% | 37.6% | 592 MNOK |
| WILHELMSEN SHIPS SERVICE AS | 11.8% | 36.1% | 3,025 MNOK |
| POSTEN BRING BILDRIFT AS | 1.6% | 36.6% | 506 MNOK |
| CLARKSONS NORWAY AS | 36.2% | 35.1% | 879 MNOK |
| THERMO-TRANSIT NORGE AS | 1.5% | 31.9% | 1,348 MNOK |
| FLYTOGET AS | 6.5% | 43.6% | 992 MNOK |
| VY TOG AS | 1.0% | 60.7% | 1,137 MNOK |
| CCB AS | 4.9% | 27.5% | 865 MNOK |
| VEØY AS | 4.3% | 39.9% | 688 MNOK |
| TRØNDER TAXI AS | 2.5% | 27.2% | 878 MNOK |
| ASCO NORGE AS | −1.1% | 52.3% | 690 MNOK |
| BRING INTERMODAL AS | 0.8% | 29.1% | 907 MNOK |
| AXESS LOGISTICS AS | 3.0% | 31.5% | 843 MNOK |
| DHL GLOBAL FORWARDING (NORWAY) AS | −1.9% | 42.1% | 970 MNOK |
| UPS NORWAY AS | 5.3% | 20.1% | 579 MNOK |
| CONNECT BUS NORGE AS | 0.0% | 34.1% | 2,429 MNOK |
| SR GROUP AS | 2.5% | 19.5% | 667 MNOK |
| KINGSRØD TRANSPORT AS | 0.9% | 28.5% | 633 MNOK |
| NORWEGIAN AIR AS | 31.2% | 31.5% | 4,426 MNOK |
| NOR-LOG AS | 1.4% | 20.3% | 2,088 MNOK |
| AVINOR AS | 11.0% | 28.5% | 10,290 MNOK |
| APCOA NORWAY AS | 2.4% | 20.0% | 1,305 MNOK |
| SPORVEIEN AS | 0.6% | 36.3% | 1,864 MNOK |
| DSV AIR & SEA AS | 3.0% | 11.6% | 1,897 MNOK |
| ONEPARK AS | 4.3% | 10.4% | 1,344 MNOK |
| POSTEN BRING AS | 1.6% | 19.1% | 13,987 MNOK |
| WIDERØE GROUND HANDLING AS | 0.4% | 18.8% | 1,369 MNOK |
| VYGRUPPEN AS | 2.2% | 24.7% | 6,778 MNOK |
| BRISTOW NORWAY AS | 2.0% | 13.6% | 2,543 MNOK |
| REDGO NORWAY AS | −1.4% | 25.1% | 503 MNOK |
| AVINOR FLYSIKRING AS | 0.8% | 12.4% | 2,214 MNOK |
| NORWEGIAN AIR SHUTTLE ASA | −147.4% | 39.3% | 822 MNOK |
| AIR CARGO LOGISTICS AS | 1.5% | 6.7% | 1,168 MNOK |
| DSV ROAD AS | −0.6% | 14.6% | 1,569 MNOK |
| VY BUSS AS | 1.9% | 17.7% | 5,896 MNOK |
| POSTNORD AS | −2.3% | 26.5% | 4,906 MNOK |
| TIDE BANE AS | 0.0% | 9.4% | 581 MNOK |
| TIDE BUSS AS | −2.9% | 21.1% | 3,467 MNOK |
| KUEHNE + NAGEL AS | 0.5% | 5.5% | 3,691 MNOK |
| SJ NORGE AS | −0.1% | 0.3% | 1,880 MNOK |
| NORWEGIAN AIR SHUTTLE AOC AS | 1.3% | 4.0% | 13,833 MNOK |
| SAS GROUND HANDLING NORWAY AS | −6.0% | 14.6% | 1,091 MNOK |
| BOREAL BUSS AS | −1.0% | 18.5% | 1,268 MNOK |
| SPORVEIEN TRIKKEN AS | −1.8% | 16.4% | 1,288 MNOK |
| FOODORA NORWAY AS | −0.2% | 4.2% | 903 MNOK |
| NOR LINES NORWAY AS | −2.4% | 8.5% | 671 MNOK |
| WIDERØE'S FLYVESELSKAP AS | −1.9% | 15.8% | 5,433 MNOK |
| BOREAL TRAVEL AS | −0.7% | 11.7% | 608 MNOK |
| HELTHJEM NETTHANDEL AS | −0.3% | 3.2% | 676 MNOK |
| SPORVEIEN T-BANEN AS | −3.6% | 12.3% | 2,228 MNOK |
| CARGONET AS | −9.8% | 16.5% | 1,268 MNOK |
| UNIBUSS AS | −27.0% | −4.3% | 1,883 MNOK |
| NORSE ATLANTIC AIRWAYS AS | −32.1% | −38.4% | 2,582 MNOK |
| GO-AHEAD NORGE AS | −4.0% | −194.5% | 900 MNOK |
Scenario analysis: the sector's weakest year
The sector's weakest year was 2026, 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 | – | – |
| 2022 | 5.5% | 17.7% |
| 2023 | 4.3% | 32.9% |
| 2024 | 4.2% | 32.2% |
| 2025 | 4.0% | 31.4% |
| 2026 · weakest year | 0.2% | 19.3% |
In 2026, 3 ranked companies did better than the sector, 0 about the same and 3 weaker.
Held up best in 2026
- 1CIRCLE K TRANSPORT ASequity ratio 18.4%4.7%
- 2AIMO PARK NORWAY ASequity ratio 20.3%4.1%
- 3FREJA TRANSPORT & LOGISTICS ASequity ratio 21.1%4.1%
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
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
- 20,701
- −0.1% from 2023
- Persons employed
- 128,218
- +0.2% from 2023
- Turnover
- NOK 335.7 bn
- +7.9% from 2023
- Gross operating margin
- 7.7%
- Gross operating surplus divided by turnover
All enterprises, sole proprietorships included.
Bankruptcies in the industry
175 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −3.3% against the four quarters before (181). That is about 8.5 per 1,000 enterprises.
Foreign-controlled enterprises · 2024
- Share of enterprises
- 2.3%
- Share of persons employed
- 19.9%
- Share of turnover
- 24.5%
SSB publishes this for groups of industries only. The figures are for the group “Transport og lagring”.
Source: Statistics Norway (SSB), table 12910, table 10790, table 08085. 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
- ALPHA TRANSPORT & IMPORT AS 917482772 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
- EGSTAD TRANSPORT AS 815523962 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
- LIBERTY SHIPPING AS 989039350 Voluntary liquidation · 31 October 2026
- SAGA AVIATION AS 923801790 Voluntary liquidation · 31 October 2026
- SYLA BIL AS 918602216 Voluntary liquidation · 31 October 2026
- AD-FRAKT AS 996557677 Voluntary liquidation · 30 October 2026 · 1 MNOK (2025)
- EQUINOX INVEST AS 913130235 Voluntary liquidation · 30 October 2026
- GORICH AS 830225382 Bankruptcy · 30 October 2026 · 0 MNOK (2025)
Industry codes (NACE)
| Code | Description |
|---|---|
| 49* | Hele hovedgruppe 49 |
| 49.110 | Passasjertransport med jernbane |
| 49.120 | Passasjertransport med sporvei |
| 49.200 | Godstransport med jernbane |
| 49.310 | Passasjertransport med rutebil |
| 49.320 | Passasjertransport utenom rutetabell |
| 49.330 | Passasjertransport på forespørsel utført av fører med kjøretøy |
| 49.340 | Passasjertransport med kabelbaner og skiheiser |
| 49.390 | Annen landtransport med passasjerer ikke nevnt annet sted |
| 49.410 | Godstransport på vei |
| 49.420 | Flyttetransport |
| 51* | Hele hovedgruppe 51 |
| 51.100 | Lufttransport med passasjerer |
| 51.210 | Lufttransport med gods |
| 51.220 | Romfart |
| 52* | Hele hovedgruppe 52 |
| 52.100 | Lagring |
| 52.211 | Drift av gods- og transportsentraler |
| 52.212 | Drift av parkeringsplasser og parkeringshus |
| 52.219 | Tjenester tilknyttet landtransport ikke nevnt annet sted |
| 52.220 | Andre tjenester tilknyttet sjøtransport |
| 52.230 | Andre tjenester tilknyttet lufttransport |
| 52.240 | Lasting og lossing |
| 52.250 | Logistikktjenester |
| 52.260 | Andre støttetjenester for transport |
| 52.311 | Formidlingstjenester tilknyttet godstransport via skip |
| 52.312 | Formidlingstjenester tilknyttet godstransport via jernbane, luftfartøy eller på vei |
| 52.320 | Formidlingstjenester tilknyttet passasjertransport |
| 53* | Hele hovedgruppe 53 |
| 53.100 | Landsdekkende posttjenester |
| 53.200 | Andre post- og budtjenester |
| 53.300 | Formidlingstjenester tilknyttet post- og budtjenester |