MIDGARD VIND HOLDING AS
Score · fiscal year 2025
44of 100
How to read this: the company is ahead of 38 % of small companies in the same sector in 2025. What does this mean?
Rank: 533 of 865 · Kraft og energi
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 21 and solidity 66 out of 100 among small companies in the same sector in 2025. Methodology
Against the sector
MIDGARD VIND HOLDING AS is 7 points below the median for small companies in the same sector in 2025.
Median score 51 among 676 companies.
Against small companies in the same sector in 2025: operating margin −66.4% (median 15.2%) and equity ratio 56.3% (median 38.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 7 MNOK | 5 MNOK |
| Operating margin | −66.4% | 15.2% |
| Profit margin | 746.6% | 9.5% |
| Return on assets | 1.0% | 4.8% |
| Equity ratio | 56.3% | 38.9% |
| Debt-to-equity | 0.78 | 1.35 |
| Current ratio | 11.04 | 1.65 |
| Revenue growth | −18.7% | 3.6% |
The median and “ahead of” refer to small companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 44, MIDGARD VIND HOLDING AS does better than 38% of small companies in the same sector (676 companies) in 2025.
Score 2023–2025
- MIDGARD VIND HOLDING AS
- Median: small companies in the same sector
MIDGARD VIND HOLDING AS has a score of 44 for 2025, rank 533 of 865 in the sector.
Strongest: Liquidity: percentile 94 against peers, current ratio 11.04 against a median of 1.65. Solidity: percentile 66 against peers, equity ratio 56.3% against a median of 38.9%.
Weakest: Growth: percentile 20 against peers, revenue growth −18.7% against a median of 3.6%. Profitability: percentile 21 against peers, operating margin −66.4% against a median of 15.2%.
Worth a closer look
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −66.4% (median 15.2%).
- What lies behind weak growth, and will it last?
- What lies behind weak profitability, and will it last?
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
What the numbers say
MIDGARD VIND HOLDING AS had an operating margin of −66.4% and an equity ratio of 56.3% in 2025, and ranks 533 of 865 in Kraft og energi.
From 2024 to 2025: the operating margin fell from −42.4% to −66.4% and revenue fell by 19%.
MIDGARD VIND HOLDING AS did about the same as the sector in 2025, the sector's weakest year.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 31 MEUR and 239 MEUR.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 31 MEUR |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 239 MEUR |
A mechanical estimate from public accounts, not advice. Mechanical estimate from public accounts with fixed multiples. Not a valuation and not advice to buy or sell. The multiples are provisional default values and must be adjusted per sector before the figures are used for anything. See the calculation
Worth a closer look
- watch
The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin −66.4% (median 15.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Data quality
- watch Reports in a currency other than NOK
Scenario analysis: the sector's weakest year
The operating margin was −66.4% in 2025 (sector median 16.0%), and the equity ratio 56.3%. In the other years the operating margin averaged −233.8%.
The sector's weakest year was 2025, with a median operating margin of 16.0%. Based on the 5 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 21 | weight 30% |
|---|---|---|
| Solidity | 66 | weight 25% |
| Liquidity | 94 | weight 15% |
| Growth | 20 | weight 15% |
| Consistency | 28 | weight 15% |
Durability: 47 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is MIDGARD VIND HOLDING AS?
The operating margin was −66.4% in 2025, against a median of 15.2% among small companies in the same sector. Return on assets was 1.0%.
How solid is MIDGARD VIND HOLDING AS?
The equity ratio was 56.3% in 2025 (median 38.9%). Debt-to-equity was 0.78 (median 1.35).
What is the liquidity of MIDGARD VIND HOLDING AS like?
The current ratio was 11.04 in 2025 (median 1.65).
How does MIDGARD VIND HOLDING AS compare in Kraft og energi?
MIDGARD VIND HOLDING AS ranks 533 of 865 in Kraft og energi for 2025. Among companies of the same size (small companies) it ranks 422 of 676. Revenue changed by −18.7% from the year before.
From the Central Coordinating Register
- Org. no.
- 821186242
- Legal form
- AS
- Sector
- Kraft og energi (35.122)
- Size tier
- small
- Employees
- 0–4 (not registered)
- Founded
- 2 July 2018 8 years in operation
- Share capital
- 3.04 MNOK
- Business address
- Klæbuveien 118, 7031 TRONDHEIM
- Municipality
- Trondheim rank 3 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- LEI
- 5493008E2B8ZEMK0KT33 renews 10 December 2027
Source: Central Coordinating Register, Brønnøysund Register Centre. The employee count is reported by the company and may be older than the accounts. See the company at the Brønnøysund Register Centre
Ownership and roles
- Chief executive
- Christian Vogt
- Chair of the board
- Christian Vogt
- Board member
- Idunn Gangaune Finnanger
- Board member
- Magnus Often Sveen
- Board member
- Felix Corradini
- Board member
- Julia Anna Kufner
- Deputy member
- Marit Riiber
- Deputy member
- Michael Gewalt
- Auditor
- DELOITTE AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- Parent not reported
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 29 October 2026. The parent is the one the company itself reported to GLEIF.
Owners and shareholdings will appear here once the shareholder data extract is in place.
Coming · not built yet
Error in the data?
Do you see an error in the figures or in how the company is mapped (sector, holding, group)? Let us know. Corrections require documentation.
Figures last fetched 26 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 40 | 56 | 44 | |
| Rank | 582 | 307 | 533 | |
| Operating margin | −425.2% | −42.4% | −66.4% | |
| Return on assets | 0.0% | 1.0% | 1.0% | |
| Equity ratio | 54.5% | 55.0% | 56.3% | |
| Current ratio | 9.50 | 9.88 | 11.04 | |
| Revenue growth | – | 389.5% | −18.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (EUR). Revenue in NOK is converted from EUR at the mean rate for the accounting period 1 January 2025–31 December 2025: 11.7177 (norges_bank). Balance-sheet amounts use the rate on the balance-sheet date. Ratios and growth are computed in EUR. Exchange rates at Norges Bank
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.1 MEUR | 0.7 MEUR | 0.6 MEUR |
| Operating profit | −0.6 MEUR | −0.3 MEUR | −0.4 MEUR |
| Profit before tax | −0.2 MEUR | 4.3 MEUR | 4.2 MEUR |
| Net profit | −1.1 MEUR | 2.9 MEUR | 3.1 MEUR |
| Financial expenses | – | – | – |
| Total assets | 453.5 MEUR | 436.1 MEUR | 425.5 MEUR |
| Current assets | 268.7 MEUR | 252.8 MEUR | 246.9 MEUR |
| Equity | 247.0 MEUR | 239.9 MEUR | 239.4 MEUR |
| Retained earnings | −102.0 MEUR | −99.0 MEUR | −99.6 MEUR |
| Total liabilities | 206.5 MEUR | 196.2 MEUR | 186.1 MEUR |
| Current liabilities | 28.3 MEUR | 25.6 MEUR | 22.4 MEUR |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 7141077.
Further
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