Sector

1,189 companies ranked against comparable companies in four Morning company classes. Fiscal year 2024. Source: Brønnøysund Register Centre. Methodology

Ranking · 2024 · Morning class Large

Morning class Large · 2024
#CompanyProfileScoreChangeFive years
1 HÖEGH EVI AS Leader 86 +1
2 NORSEA LOGISTICS AS Leader 84 −8
3 BRING CARGO AS Leader 83 −3
4 SOS VEIHJELP AS Leader 82 −2
5 DHL GLOBAL FORWARDING (NORWAY) AS Leader 78 +13
6 JAS WORLDWIDE NORWAY AS Leader 77 −8
7 DHL EXPRESS (NORWAY) AS Leader 76 −11
8 NORWEGIAN AIR SHUTTLE ASA Leader 74 +31
9 B.H. RAMBERG AS Leader 74 −6
10 AXESS LOGISTICS AS Leader 73 +6
11 AIMO PARK NORWAY AS Leader 72 –
12 DSV AIR & SEA AS Leader 71 +20
13 CCB AS Sprinter 71 +2
14 TRØNDER TAXI AS Leader 69 +1
15 BRING INTERMODAL AS Leader 67 −1
16 LKAB NORGE AS Leader 67 −13
17 VY TOG ASsubsidiary of VYGRUPPEN AS Steward 67 −3
18 CLARKSONS NORWAY AS Leader 65 −9
19 WIDERØE'S FLYVESELSKAP ASsubsidiary of WIDERØE AS Leader 61 +36
20 FLYTOGET AS Leader 61 −9
21 VEØY AS Leader 59 −10
22 KINGSRØD TRANSPORT AS Leader 59 −1
23 ASCO NORGE AS Leader 58 −10
24 REDGO NORWAY AS Steward 58 +15
25 SPORVEIEN AS Leader 58 +6
26 AVINOR FLYSIKRING ASsubsidiary of AVINOR AS Steward 57 +14
27 SR GROUP AS Leader 56 −4
28 UPS NORWAY AS Sprinter 56 −8
29 AVINOR AS Leader 55 +1
30 VYGRUPPEN AS Leader 54 +9
31 FREJA TRANSPORT & LOGISTICS AS Sprinter 54 –
32 POSTEN BRING BILDRIFT AS Sprinter 53 −23
33 UNIBUSS ASsubsidiary of SPORVEIEN AS Sprinter 52 +47
34 NOR-LOG AS Leader 52 −4
35 BRISTOW NORWAY AS Sprinter 51 +7
36 TIDE HORISONT AS Sprinter 51 +36
37 HELTHJEM DISTRIBUSJON VEST AS Builder 50 +7
38 ONEPARK AS Sprinter 49 +1
39 BRING WAREHOUSING AS Steward 49 0
40 HELTHJEM NETTHANDEL AS Sprinter 49 +31
41 WILHELMSEN SHIPS SERVICE AS Sprinter 45 −32
42 THERMO-TRANSIT NORGE AS Steward 45 −25
43 NOBINA AS Steward 44 –
44 OSLO TAXI AS Builder 42 +5
45 CONNECT BUS NORGE AS Steward 40 −21
46 DSV ROAD AS Builder 39 +1
47 TIDE BUSS AS Builder 39 +3
48 FOODORA NORWAY AS Builder 38 +12
49 CARGONET ASsubsidiary of VYGRUPPEN AS Steward 36 +21
50 AIR CARGO LOGISTICS AS Builder 35 −8

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

  • UNIBUSS AS

    From 2023 to 2024: the operating margin rose from −27.0% to 4.8% and the equity ratio rose from −4.3% to 18.0%.

    +47
  • WIDERØE'S FLYVESELSKAP AS

    From 2023 to 2024: went from a loss to a profit before tax and the operating margin rose from −1.9% to 5.2%.

    +36
  • WILHELMSEN SHIPS SERVICE AS

    From 2023 to 2024: the equity ratio fell from 36.1% to 7.4% and the operating margin fell from 11.8% to 5.2%.

    −32
  • HELTHJEM NETTHANDEL AS

    From 2023 to 2024: went from a loss to a profit before tax and revenue grew by 45%.

    +31

Top lists in the sector · 2024 · Morning class Large

The five largest companies account for 38% of the sector's revenue. Combined profit before tax for the 66 ranked companies: 1,082 MNOK.

Highest revenue

  1. NORWEGIAN AIR SHUTTLE AOC ASsubsidiary of NORWEGIAN AIR SHUTTLE ASA 14,864 MNOK
  2. POSTEN BRING AS 14,034 MNOK
  3. AVINOR AS 10,877 MNOK
  4. VYGRUPPEN AS 7,200 MNOK
  5. WIDERØE'S FLYVESELSKAP ASsubsidiary of WIDERØE AS 6,498 MNOK

Operating revenue.

Highest operating margin

  1. NORWEGIAN AIR SHUTTLE ASA 140.8%
  2. CLARKSONS NORWAY AS 33.2%
  3. LKAB NORGE AS 10.8%
  4. NORSEA LOGISTICS AS 9.8%
  5. AVINOR AS 9.1%

Operating result divided by operating revenue.

Largest profit

  1. NORWEGIAN AIR SHUTTLE ASA 1,663 MNOK
  2. WILHELMSEN SHIPS SERVICE AS 418 MNOK
  3. CLARKSONS NORWAY AS 391 MNOK
  4. WIDERØE'S FLYVESELSKAP ASsubsidiary of WIDERØE AS 266 MNOK
  5. AVINOR AS 216 MNOK

Profit before tax.

Largest loss

  1. NORSE ATLANTIC AIRWAYS AS −746 MNOK
  2. NORWEGIAN AIR AS −734 MNOK
  3. NORWEGIAN AIR SHUTTLE AOC ASsubsidiary of NORWEGIAN AIR SHUTTLE ASA −678 MNOK
  4. GO-AHEAD NORGE AS −248 MNOK
  5. POSTNORD AS −245 MNOK

Profit before tax, the largest negative.

Most solid

  1. SOS VEIHJELP AS 78.9%
  2. VY TOG ASsubsidiary of VYGRUPPEN AS 66.6%
  3. HÖEGH EVI AS 61.5%
  4. NORSEA LOGISTICS AS 59.0%
  5. BRING CARGO AS 52.4%

Equity ratio: equity divided by total assets.

Fastest growth

  1. TIDE HORISONT AS +1,069.5%
  2. POSTEN BRING BILDRIFT AS +185.9%
  3. HELTHJEM DISTRIBUSJON VEST AS +104.0%
  4. CCB AS +97.6%
  5. HELTHJEM NETTHANDEL AS +44.8%

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

Largest revenue decline

  1. NORWEGIAN AIR AS −41.8%
  2. GO-AHEAD NORGE AS −36.1%
  3. AIR CARGO LOGISTICS AS −9.2%
  4. SPORVEIEN TRIKKEN AS −5.2%
  5. DSV ROAD AS −2.8%

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

Biggest climbers

  1. UNIBUSS ASsubsidiary of SPORVEIEN AS +46.7 points
  2. WIDERØE'S FLYVESELSKAP ASsubsidiary of WIDERØE AS +36.7 points
  3. NORWEGIAN AIR SHUTTLE ASA +31.1 points
  4. HELTHJEM NETTHANDEL AS +30.6 points
  5. CARGONET ASsubsidiary of VYGRUPPEN AS +21.1 points

Change in index points from the year before.

Biggest fallers

  1. WILHELMSEN SHIPS SERVICE AS −31.9 points
  2. NORWEGIAN AIR AS −25.6 points
  3. THERMO-TRANSIT NORGE AS −25.4 points
  4. POSTEN BRING BILDRIFT AS −23.9 points
  5. CONNECT BUS NORGE AS −21.2 points

Change in index points from the year before.

Most employees

  1. POSTEN BRING AS 10,033
  2. TIDE BUSS AS 3,859
  3. CONNECT BUS NORGE AS 2,553
  4. AVINOR AS 2,548
  5. VYGRUPPEN AS 2,485

Employees according to the Central Coordinating Register.

Highest revenue per employee

  1. AIR CARGO LOGISTICS AS 24.1 MNOK
  2. WILHELMSEN SHIPS SERVICE AS 18.9 MNOK
  3. KUEHNE + NAGEL AS 17.6 MNOK
  4. THERMO-TRANSIT NORGE AS 16.6 MNOK
  5. BRING INTERMODAL AS 14.8 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.

NORWEGIAN AIR SHUTTLE AOC AS: 36 / 7POSTEN BRING AS: 31 / 36AVINOR AS: 64 / 65VYGRUPPEN AS: 66 / 61WIDERØE'S FLYVESELSKAP AS: 89 / 55VY BUSS AS: 44 / 33POSTNORD AS: 12 / 45NORSE ATLANTIC AIRWAYS AS: 10 / 0KUEHNE + NAGEL AS: 66 / 3TIDE BUSS AS: 45 / 29WILHELMSEN SHIPS SERVICE AS: 70 / 12BRISTOW NORWAY AS: 64 / 25NORWEGIAN AIR AS: 14 / 87CONNECT BUS NORGE AS: 27 / 72SPORVEIEN T-BANEN AS: 11 / 17AVINOR FLYSIKRING AS: 31 / 57CHC HELIKOPTER SERVICE AS: 11 / 48NOR-LOG AS: 60 / 51SPORVEIEN AS: 64 / 77DSV AIR & SEA AS: 83 / 64UNIBUSS AS: 63 / 42SJ NORGE AS: 43 / 1ONEPARK AS: 79 / 13THERMO-TRANSIT NORGE AS: 25 / 54CCB AS: 96 / 46JAS WORLDWIDE NORWAY AS: 58 / 93NOBINA AS: 21 / 78DSV ROAD AS: 43 / 35DHL EXPRESS (NORWAY) AS: 86 / 81POSTEN BRING BILDRIFT AS: 65 / 4WIDERØE GROUND HANDLING AS: 16 / 39BRING CARGO AS: 89 / 94CARGONET AS: 4 / 75APCOA NORWAY AS: 62 / 19BOREAL BUSS AS: 7 / 28SAS GROUND HANDLING NORWAY AS: 20 / 26NORSEA LOGISTICS AS: 89 / 96SPORVEIEN TRIKKEN AS: 16 / 38VY TOG AS: 41 / 99DHL GLOBAL FORWARDING (NORWAY) AS: 66 / 90AIR CARGO LOGISTICS AS: 40 / 20FLYTOGET AS: 70 / 91LKAB NORGE AS: 74 / 74COLLICARE DISTRIBUTION AS: 45 / 6HELTHJEM NETTHANDEL AS: 52 / 14FOODORA NORWAY AS: 46 / 9TRØNDER TAXI AS: 80 / 58NORWEGIAN AIR SHUTTLE ASA: 80 / 88BRING INTERMODAL AS: 68 / 83CLARKSONS NORWAY AS: 99 / 70FREJA TRANSPORT & LOGISTICS AS: 88 / 30AXESS LOGISTICS AS: 90 / 84ASCO NORGE AS: 55 / 59AIMO PARK NORWAY AS: 79 / 68INTEGRA LEASING AS: 16 / 43HELTHJEM DISTRIBUSJON VEST AS: 39 / 41NOR LINES NORWAY AS: 4 / 10VEØY AS: 62 / 80UPS NORWAY AS: 76 / 23SR GROUP AS: 65 / 52KINGSRØD TRANSPORT AS: 52 / 67B.H. RAMBERG AS: 68 / 86BOREAL TRAVEL AS: 29 / 32TIDE HORISONT AS: 73 / 16BRING HOME DELIVERY NORGE AS: 6 / 22REDGO NORWAY AS: 22 / 71GO-AHEAD NORGE AS: 0 / 0OSLO TAXI AS: 21 / 49BRING WAREHOUSING AS: 9 / 62SOS VEIHJELP AS: 74 / 100HÖEGH EVI AS: 81 / 9700252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers
NORWEGIAN AIR SHUTTLE AOC AS: 36 / 7POSTEN BRING AS: 31 / 36AVINOR AS: 64 / 65VYGRUPPEN AS: 66 / 61WIDERØE'S FLYVESELSKAP AS: 89 / 55VY BUSS AS: 44 / 33POSTNORD AS: 12 / 45NORSE ATLANTIC AIRWAYS AS: 10 / 0KUEHNE + NAGEL AS: 66 / 3TIDE BUSS AS: 45 / 29WILHELMSEN SHIPS SERVICE AS: 70 / 12BRISTOW NORWAY AS: 64 / 25NORWEGIAN AIR AS: 14 / 87CONNECT BUS NORGE AS: 27 / 72SPORVEIEN T-BANEN AS: 11 / 17AVINOR FLYSIKRING AS: 31 / 57CHC HELIKOPTER SERVICE AS: 11 / 48NOR-LOG AS: 60 / 51SPORVEIEN AS: 64 / 77DSV AIR & SEA AS: 83 / 64UNIBUSS AS: 63 / 42SJ NORGE AS: 43 / 1ONEPARK AS: 79 / 13THERMO-TRANSIT NORGE AS: 25 / 54CCB AS: 96 / 46JAS WORLDWIDE NORWAY AS: 58 / 93NOBINA AS: 21 / 78DSV ROAD AS: 43 / 35DHL EXPRESS (NORWAY) AS: 86 / 81POSTEN BRING BILDRIFT AS: 65 / 4WIDERØE GROUND HANDLING AS: 16 / 39BRING CARGO AS: 89 / 94CARGONET AS: 4 / 75APCOA NORWAY AS: 62 / 19BOREAL BUSS AS: 7 / 28SAS GROUND HANDLING NORWAY AS: 20 / 26NORSEA LOGISTICS AS: 89 / 96SPORVEIEN TRIKKEN AS: 16 / 38VY TOG AS: 41 / 99DHL GLOBAL FORWARDING (NORWAY) AS: 66 / 90AIR CARGO LOGISTICS AS: 40 / 20FLYTOGET AS: 70 / 91LKAB NORGE AS: 74 / 74COLLICARE DISTRIBUTION AS: 45 / 6HELTHJEM NETTHANDEL AS: 52 / 14FOODORA NORWAY AS: 46 / 9TRØNDER TAXI AS: 80 / 58NORWEGIAN AIR SHUTTLE ASA: 80 / 88BRING INTERMODAL AS: 68 / 83CLARKSONS NORWAY AS: 99 / 70FREJA TRANSPORT & LOGISTICS AS: 88 / 30AXESS LOGISTICS AS: 90 / 84ASCO NORGE AS: 55 / 59AIMO PARK NORWAY AS: 79 / 68INTEGRA LEASING AS: 16 / 43HELTHJEM DISTRIBUSJON VEST AS: 39 / 41NOR LINES NORWAY AS: 4 / 10VEØY AS: 62 / 80UPS NORWAY AS: 76 / 23SR GROUP AS: 65 / 52KINGSRØD TRANSPORT AS: 52 / 67B.H. RAMBERG AS: 68 / 86BOREAL TRAVEL AS: 29 / 32TIDE HORISONT AS: 73 / 16BRING HOME DELIVERY NORGE AS: 6 / 22REDGO NORWAY AS: 22 / 71GO-AHEAD NORGE AS: 0 / 0OSLO TAXI AS: 21 / 49BRING WAREHOUSING AS: 9 / 62SOS VEIHJELP AS: 74 / 100HÖEGH EVI AS: 81 / 9700252550507575100100Solidity, 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 2023 (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 2023 (profitability / solidity)
CLARKSONS NORWAY ASLion9970100 / 73
CCB ASCheetah964688 / 59
AXESS LOGISTICS ASLion908475 / 66
NORSEA LOGISTICS ASLion899692 / 96
BRING CARGO ASLion899483 / 95
WIDERØE'S FLYVESELSKAP ASLion895530 / 31
FREJA TRANSPORT & LOGISTICS ASCheetah8830–
DHL EXPRESS (NORWAY) ASLion868191 / 88
DSV AIR & SEA ASLion836481 / 19
HÖEGH EVI ASLion8197–
NORWEGIAN AIR SHUTTLE ASALion808812 / 84
TRØNDER TAXI ASLion805878 / 57
AIMO PARK NORWAY ASLion7968–
ONEPARK ASCheetah791390 / 17
UPS NORWAY ASCheetah762391 / 47
LKAB NORGE ASLion747476 / 75
SOS VEIHJELP ASLion74100–
TIDE HORISONT ASCheetah7316–
FLYTOGET ASLion709175 / 91
WILHELMSEN SHIPS SERVICE ASCheetah701288 / 77
B.H. RAMBERG ASLion688684 / 82
BRING INTERMODAL ASLion688352 / 65
DHL GLOBAL FORWARDING (NORWAY) ASLion669018 / 89
KUEHNE + NAGEL ASCheetah66347 / 10
VYGRUPPEN ASLion666153 / 52
SR GROUP ASLion655273 / 43
POSTEN BRING BILDRIFT ASCheetah65463 / 81
SPORVEIEN ASLion647737 / 79
AVINOR ASLion646570 / 61
BRISTOW NORWAY ASCheetah642572 / 26
UNIBUSS ASCheetah63423 / 0
VEØY ASLion628074 / 86
APCOA NORWAY ASCheetah621971 / 45
NOR-LOG ASLion605160 / 49
JAS WORLDWIDE NORWAY ASLion589363 / 98
ASCO NORGE ASLion555922 / 93
KINGSRØD TRANSPORT ASLion526751 / 63
HELTHJEM NETTHANDEL ASCheetah521429 / 4
FOODORA NORWAY ASBeaver46933 / 8
TIDE BUSS ASBeaver452912 / 50
COLLICARE DISTRIBUTION ASBeaver456–
VY BUSS ASBeaver443353 / 36
DSV ROAD ASBeaver433526 / 29
SJ NORGE ASBeaver43130 / 3
VY TOG ASElephant419953 / 100
AIR CARGO LOGISTICS ASBeaver402065 / 11
HELTHJEM DISTRIBUSJON VEST ASBeaver3941–
NORWEGIAN AIR SHUTTLE AOC ASBeaver36749 / 6
AVINOR FLYSIKRING ASElephant315747 / 24
POSTEN BRING ASBeaver313659 / 42
The sector in numbers

Summary · fiscal year 2024 · Morning class Large

The sector's median operating margin is 1.6%. 2 of 71 companies have negative equity. The median equity ratio is 21.4%.

Companies with accounts71
Total revenue139,579 MNOK
Median operating margin1.6%
Median equity ratio21.4%
Share with a loss37%
Share with negative equity3%

All figures are for fiscal year 2024. Ranked: 71 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: 5 subsidiaries (12,956 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 3% of the total.

Climbers and fallers · Morning class Large

Change in rank from 2023 to 2024, for 58 companies ranked in both years.

Climbers

  1. 33WIDERØE'S FLYVESELSKAP ASfrom rank 52 to 1961
  2. 29NORWEGIAN AIR SHUTTLE ASAfrom rank 37 to 874
  3. 24UNIBUSS ASfrom rank 57 to 3352
  4. 17DSV AIR & SEA ASfrom rank 29 to 1271
  5. 14DHL GLOBAL FORWARDING (NORWAY) ASfrom rank 19 to 578

Fallers

  1. 34WILHELMSEN SHIPS SERVICE ASfrom rank 7 to 4145
  2. 32THERMO-TRANSIT NORGE ASfrom rank 10 to 4245
  3. 29POSTEN BRING ASfrom rank 31 to 6031
  4. 28NORWEGIAN AIR ASfrom rank 24 to 5234
  5. 24POSTEN BRING BILDRIFT ASfrom rank 8 to 3253

Awards · 2024 · Morning class Large

Most profitableNORWEGIAN AIR SHUTTLE ASA140.8%
Fastest growthTIDE HORISONT AS1,069.5%
Strongest balance sheetSOS VEIHJELP AS78.9%
Largest revenueNORWEGIAN AIR SHUTTLE AOC AS14,864 MNOK
Highest revenue per employeeAIR CARGO LOGISTICS AS24.1 MNOK

Needs attention · 2024 · Morning class Large

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

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.

−10%−5%0%5%10%0%10%20%30%40%50%Operating margin (profitability) →Equity ratio (solidity) →NORWEGIAN AIR SHUTTLE AOC AS: operating margin 0.8%, equity ratio 4.1%, rank 58POSTEN BRING AS: operating margin −0.1%, equity ratio 17.7%, rank 60AVINOR AS: operating margin 9.1%, equity ratio 28.7%, rank 29VYGRUPPEN AS: operating margin 5.5%, equity ratio 25.6%, rank 30WIDERØE'S FLYVESELSKAP AS: operating margin 5.2%, equity ratio 23.7%, rank 19VY BUSS AS: operating margin 2.2%, equity ratio 17.0%, rank 56POSTNORD AS: operating margin −3.8%, equity ratio 20.3%, rank 65NORSE ATLANTIC AIRWAYS AS: operating margin −13.5%, equity ratio −38.2%, rank 69KUEHNE + NAGEL AS: operating margin 2.3%, equity ratio 3.1%, rank 57TIDE BUSS AS: operating margin 1.6%, equity ratio 16.1%, rank 47WILHELMSEN SHIPS SERVICE AS: operating margin 5.2%, equity ratio 7.4%, rank 41BRISTOW NORWAY AS: operating margin 0.2%, equity ratio 14.6%, rank 35NORWEGIAN AIR AS: operating margin −34.2%, equity ratio 43.9%, rank 52CONNECT BUS NORGE AS: operating margin −0.7%, equity ratio 35.7%, rank 45SPORVEIEN T-BANEN AS: operating margin −3.4%, equity ratio 11.6%, rank 68AVINOR FLYSIKRING AS: operating margin −0.7%, equity ratio 24.4%, rank 26CHC HELIKOPTER SERVICE AS: operating margin −5.1%, equity ratio 21.3%, rank 54NOR-LOG AS: operating margin 1.7%, equity ratio 21.8%, rank 34SPORVEIEN AS: operating margin 6.9%, equity ratio 37.5%, rank 25DSV AIR & SEA AS: operating margin 4.7%, equity ratio 26.9%, rank 12UNIBUSS AS: operating margin 4.8%, equity ratio 18.0%, rank 33SJ NORGE AS: operating margin 0.9%, equity ratio 0.5%, rank 62ONEPARK AS: operating margin 2.8%, equity ratio 9.9%, rank 38THERMO-TRANSIT NORGE AS: operating margin −0.9%, equity ratio 22.6%, rank 42CCB AS: operating margin 8.3%, equity ratio 20.7%, rank 13JAS WORLDWIDE NORWAY AS: operating margin 0.8%, equity ratio 51.6%, rank 6NOBINA AS: operating margin −1.6%, equity ratio 38.6%, rank 43DSV ROAD AS: operating margin 0.4%, equity ratio 17.5%, rank 46DHL EXPRESS (NORWAY) AS: operating margin 5.6%, equity ratio 41.0%, rank 7POSTEN BRING BILDRIFT AS: operating margin 3.0%, equity ratio 3.3%, rank 32WIDERØE GROUND HANDLING AS: operating margin −3.2%, equity ratio 17.9%, rank 55BRING CARGO AS: operating margin 6.6%, equity ratio 52.4%, rank 3CARGONET AS: operating margin −17.9%, equity ratio 36.4%, rank 49APCOA NORWAY AS: operating margin 2.3%, equity ratio 12.4%, rank 51BOREAL BUSS AS: operating margin −13.0%, equity ratio 15.6%, rank 70SAS GROUND HANDLING NORWAY AS: operating margin −1.4%, equity ratio 14.8%, rank 61NORSEA LOGISTICS AS: operating margin 9.8%, equity ratio 59.0%, rank 2SPORVEIEN TRIKKEN AS: operating margin −2.4%, equity ratio 17.9%, rank 67VY TOG AS: operating margin 0.2%, equity ratio 66.6%, rank 17DHL GLOBAL FORWARDING (NORWAY) AS: operating margin 2.3%, equity ratio 46.6%, rank 5AIR CARGO LOGISTICS AS: operating margin 0.3%, equity ratio 12.5%, rank 50FLYTOGET AS: operating margin 6.4%, equity ratio 50.9%, rank 20LKAB NORGE AS: operating margin 10.8%, equity ratio 35.7%, rank 16COLLICARE DISTRIBUTION AS: operating margin 0.9%, equity ratio 3.8%, rank 63HELTHJEM NETTHANDEL AS: operating margin 1.5%, equity ratio 10.7%, rank 40FOODORA NORWAY AS: operating margin −0.1%, equity ratio 6.9%, rank 48TRØNDER TAXI AS: operating margin 3.5%, equity ratio 25.1%, rank 14NORWEGIAN AIR SHUTTLE ASA: operating margin 140.8%, equity ratio 43.9%, rank 8BRING INTERMODAL AS: operating margin 3.0%, equity ratio 42.7%, rank 15CLARKSONS NORWAY AS: operating margin 33.2%, equity ratio 33.7%, rank 18FREJA TRANSPORT & LOGISTICS AS: operating margin 6.9%, equity ratio 16.1%, rank 31AXESS LOGISTICS AS: operating margin 6.4%, equity ratio 43.3%, rank 10ASCO NORGE AS: operating margin 1.2%, equity ratio 25.3%, rank 23AIMO PARK NORWAY AS: operating margin 4.6%, equity ratio 30.1%, rank 11INTEGRA LEASING AS: operating margin −4.1%, equity ratio 19.1%, rank 64HELTHJEM DISTRIBUSJON VEST AS: operating margin 0.4%, equity ratio 17.9%, rank 37NOR LINES NORWAY AS: operating margin −12.1%, equity ratio 7.0%, rank 66VEØY AS: operating margin 3.0%, equity ratio 40.0%, rank 21UPS NORWAY AS: operating margin 4.3%, equity ratio 13.9%, rank 28SR GROUP AS: operating margin 2.7%, equity ratio 22.3%, rank 27KINGSRØD TRANSPORT AS: operating margin 1.6%, equity ratio 29.1%, rank 22B.H. RAMBERG AS: operating margin 3.0%, equity ratio 43.9%, rank 9BOREAL TRAVEL AS: operating margin −0.6%, equity ratio 16.8%, rank 59TIDE HORISONT AS: operating margin 5.1%, equity ratio 11.1%, rank 36BRING HOME DELIVERY NORGE AS: operating margin −9.7%, equity ratio 13.0%, rank 53REDGO NORWAY AS: operating margin −1.3%, equity ratio 35.3%, rank 24GO-AHEAD NORGE AS: operating margin −41.9%, equity ratio −443.5%, rank 71OSLO TAXI AS: operating margin −1.4%, equity ratio 21.4%, rank 44BRING WAREHOUSING AS: operating margin −6.6%, equity ratio 26.2%, rank 39SOS VEIHJELP AS: operating margin 3.2%, equity ratio 78.9%, rank 4HÖEGH EVI AS: operating margin 5.3%, equity ratio 61.5%, rank 1
Show the map's figures as a table
CompanyOperating marginEquity ratioRevenue
HÖEGH EVI AS5.3%61.5%504 MNOK
NORSEA LOGISTICS AS9.8%59.0%1,223 MNOK
BRING CARGO AS6.6%52.4%1,315 MNOK
SOS VEIHJELP AS3.2%78.9%519 MNOK
DHL GLOBAL FORWARDING (NORWAY) AS2.3%46.6%1,121 MNOK
JAS WORLDWIDE NORWAY AS0.8%51.6%1,624 MNOK
DHL EXPRESS (NORWAY) AS5.6%41.0%1,489 MNOK
NORWEGIAN AIR SHUTTLE ASA140.8%43.9%932 MNOK
B.H. RAMBERG AS3.0%43.9%634 MNOK
AXESS LOGISTICS AS6.4%43.3%847 MNOK
AIMO PARK NORWAY AS4.6%30.1%816 MNOK
DSV AIR & SEA AS4.7%26.9%1,989 MNOK
CCB AS8.3%20.7%1,710 MNOK
TRØNDER TAXI AS3.5%25.1%970 MNOK
BRING INTERMODAL AS3.0%42.7%920 MNOK
LKAB NORGE AS10.8%35.7%1,019 MNOK
VY TOG AS0.2%66.6%1,190 MNOK
CLARKSONS NORWAY AS33.2%33.7%889 MNOK
WIDERØE'S FLYVESELSKAP AS5.2%23.7%6,498 MNOK
FLYTOGET AS6.4%50.9%1,019 MNOK
VEØY AS3.0%40.0%735 MNOK
KINGSRØD TRANSPORT AS1.6%29.1%648 MNOK
ASCO NORGE AS1.2%25.3%836 MNOK
REDGO NORWAY AS−1.3%35.3%580 MNOK
SPORVEIEN AS6.9%37.5%2,019 MNOK
AVINOR FLYSIKRING AS−0.7%24.4%2,388 MNOK
SR GROUP AS2.7%22.3%686 MNOK
UPS NORWAY AS4.3%13.9%723 MNOK
AVINOR AS9.1%28.7%10,877 MNOK
VYGRUPPEN AS5.5%25.6%7,200 MNOK
FREJA TRANSPORT & LOGISTICS AS6.9%16.1%877 MNOK
POSTEN BRING BILDRIFT AS3.0%3.3%1,446 MNOK
UNIBUSS AS4.8%18.0%1,940 MNOK
NOR-LOG AS1.7%21.8%2,060 MNOK
BRISTOW NORWAY AS0.2%14.6%2,916 MNOK
TIDE HORISONT AS5.1%11.1%584 MNOK
HELTHJEM DISTRIBUSJON VEST AS0.4%17.9%771 MNOK
ONEPARK AS2.8%9.9%1,757 MNOK
BRING WAREHOUSING AS−6.6%26.2%529 MNOK
HELTHJEM NETTHANDEL AS1.5%10.7%979 MNOK
WILHELMSEN SHIPS SERVICE AS5.2%7.4%3,028 MNOK
THERMO-TRANSIT NORGE AS−0.9%22.6%1,730 MNOK
NOBINA AS−1.6%38.6%1,539 MNOK
OSLO TAXI AS−1.4%21.4%539 MNOK
CONNECT BUS NORGE AS−0.7%35.7%2,409 MNOK
DSV ROAD AS0.4%17.5%1,525 MNOK
TIDE BUSS AS1.6%16.1%3,564 MNOK
FOODORA NORWAY AS−0.1%6.9%972 MNOK
CARGONET AS−17.9%36.4%1,306 MNOK
AIR CARGO LOGISTICS AS0.3%12.5%1,060 MNOK
APCOA NORWAY AS2.3%12.4%1,286 MNOK
NORWEGIAN AIR AS−34.2%43.9%2,576 MNOK
BRING HOME DELIVERY NORGE AS−9.7%13.0%580 MNOK
CHC HELIKOPTER SERVICE AS−5.1%21.3%2,324 MNOK
WIDERØE GROUND HANDLING AS−3.2%17.9%1,390 MNOK
VY BUSS AS2.2%17.0%6,131 MNOK
KUEHNE + NAGEL AS2.3%3.1%3,614 MNOK
NORWEGIAN AIR SHUTTLE AOC AS0.8%4.1%14,864 MNOK
BOREAL TRAVEL AS−0.6%16.8%615 MNOK
POSTEN BRING AS−0.1%17.7%14,034 MNOK
SAS GROUND HANDLING NORWAY AS−1.4%14.8%1,242 MNOK
SJ NORGE AS0.9%0.5%1,849 MNOK
COLLICARE DISTRIBUTION AS0.9%3.8%1,001 MNOK
INTEGRA LEASING AS−4.1%19.1%780 MNOK
POSTNORD AS−3.8%20.3%4,954 MNOK
NOR LINES NORWAY AS−12.1%7.0%748 MNOK
SPORVEIEN TRIKKEN AS−2.4%17.9%1,221 MNOK
SPORVEIEN T-BANEN AS−3.4%11.6%2,408 MNOK
NORSE ATLANTIC AIRWAYS AS−13.5%−38.2%3,637 MNOK
BOREAL BUSS AS−13.0%15.6%1,255 MNOK
GO-AHEAD NORGE AS−41.9%−443.5%575 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 yearMedian operating marginMedian equity ratio
2019––
2020––
2021––
20225.5%17.7%
20234.3%32.9%
20244.2%32.2%
20254.0%31.4%
2026 · weakest year0.2%19.3%

In 2026, 3 ranked companies did better than the sector, 0 about the same and 3 weaker.

Held up best in 2026

  1. 1CIRCLE K TRANSPORT ASequity ratio 18.4%4.7%
  2. 2AIMO PARK NORWAY ASequity ratio 20.3%4.1%
  3. 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.

482024K4402025K1512025K2422025K3332025K4442026K1692026K2292026K3

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

All bankruptcies and liquidations in the sector

Industry codes (NACE)

CodeDescription
49*Hele hovedgruppe 49
49.110Passasjertransport med jernbane
49.120Passasjertransport med sporvei
49.200Godstransport med jernbane
49.310Passasjertransport med rutebil
49.320Passasjertransport utenom rutetabell
49.330Passasjertransport på forespørsel utført av fører med kjøretøy
49.340Passasjertransport med kabelbaner og skiheiser
49.390Annen landtransport med passasjerer ikke nevnt annet sted
49.410Godstransport på vei
49.420Flyttetransport
51*Hele hovedgruppe 51
51.100Lufttransport med passasjerer
51.210Lufttransport med gods
51.220Romfart
52*Hele hovedgruppe 52
52.100Lagring
52.211Drift av gods- og transportsentraler
52.212Drift av parkeringsplasser og parkeringshus
52.219Tjenester tilknyttet landtransport ikke nevnt annet sted
52.220Andre tjenester tilknyttet sjøtransport
52.230Andre tjenester tilknyttet lufttransport
52.240Lasting og lossing
52.250Logistikktjenester
52.260Andre støttetjenester for transport
52.311Formidlingstjenester tilknyttet godstransport via skip
52.312Formidlingstjenester tilknyttet godstransport via jernbane, luftfartøy eller på vei
52.320Formidlingstjenester tilknyttet passasjertransport
53*Hele hovedgruppe 53
53.100Landsdekkende posttjenester
53.200Andre post- og budtjenester
53.300Formidlingstjenester tilknyttet post- og budtjenester