AICO AS
Score · fiscal year 2025
80of 100
How to read this: the company is ahead of 97 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 234 of 7,421 · What are Morning company classes?
Place in the whole sector: 830 of 23,059 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 97 and solidity 82 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
AICO AS is 29 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 7,421 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 22.5% (median 3.4%) and equity ratio 66.5% (median 36.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 22 MNOK | 20 MNOK |
| Operating margin | 22.5% | 3.4% |
| Profit margin | 22.8% | 3.0% |
| Return on assets | 51.6% | 10.0% |
| Equity ratio | 66.5% | 36.3% |
| Debt-to-equity | 0.50 | 1.52 |
| Current ratio | 3.26 | 1.73 |
| Revenue growth | 5.3% | 5.7% |
| Revenue per employee | 1.83 MNOK | 2.08 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 80, AICO AS does better than 97% of companies in the Morning class Small in the same sector (7,421 companies) in 2025.
Score 2023–2025
- AICO AS
- Median: companies in the Morning class Small in the same sector
AICO AS has a score of 80 for 2025, rank 830 of 23,059 in the sector.
Strongest: Profitability: percentile 97 against peers, operating margin 22.5% against a median of 3.4%. Solidity: percentile 82 against peers, equity ratio 66.5% against a median of 36.3%.
No area is clearly below its peers.
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
AICO AS had an operating margin of 22.5% and an equity ratio of 66.5% in 2025, and ranks 830 of 23,059 in Handel.
From 2024 to 2025: the equity ratio rose from 43.5% to 66.5% and the operating margin fell from 31.6% to 22.5%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 7 MNOK and 45 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 39 MNOK |
| EV/EBIT | 8.0 | 45 MNOK |
| P/B | 1.0 | 7 MNOK |
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
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 22.5% (median 3.4%); Equity ratio 66.5% (median 36.3%); Current ratio 3.26 (median 1.73).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.9% of the debt in 2025. The policy rate averaged 4.30 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
See interest rates, prices and exchange rates for the sector
Data quality
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 1.5%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 97 | weight 30% |
|---|---|---|
| Solidity | 82 | weight 25% |
| Liquidity | 82 | weight 15% |
| Growth | 49 | weight 15% |
| Consistency | 70 | weight 15% |
Durability: 65 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is AICO AS?
The operating margin was 22.5% in 2025, against a median of 3.4% among companies in the Morning class Small in the same sector. Return on assets was 51.6%.
How solid is AICO AS?
The equity ratio was 66.5% in 2025 (median 36.3%). Debt-to-equity was 0.50 (median 1.52).
What is the liquidity of AICO AS like?
The current ratio was 3.26 in 2025 (median 1.73).
How does AICO AS compare in Handel?
AICO AS ranks 830 of 23,059 in Handel for 2025. Among companies in the Morning class Small it is number 234 of 7,421. Revenue changed by 5.3% from the year before.
Public contracts
- Contracts awarded since 2024
- 2
- Total awarded value since 2024
- value not stated
- Framework agreements
- 2
- Left out of the total: the value is a ceiling, not actual spend.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 25 June 2025 | Øygarden kommune | Kontraktstildeling - Rammeavtale for service- og vedlikehold av bassenganlegg | 4.0 MNOK (framework) |
| 28 August 2024 | Bergen kommune - Etat for bygg og eiendom | EBE 13 - 2024 Rammeavtale bassengteknikk (varekontrakt) | value not stated |
Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.
Source: Doffin (DFØ), fetched 27 October 2026. Winners are matched on organisation number.
Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0
From the Central Coordinating Register
- Org. no.
- 830615202
- Legal form
- AS
- Sector
- Handel (47.520)
- Morning company class
- Small
- Employees
- 12 registered 10 July 2026
- Founded
- 2 December 2022 3 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Kokstaddalen 31, 5257 KOKSTAD (BERGEN)
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
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
- Thomas Einevoll
- Chair of the board
- Thomas Einevoll
- Auditor
- REVISOR-PARTNER AS
- Accountant
- ECIT FORRETNINGSPARTNER AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
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 | 47 | 70 | 80 | |
| Rank | 11,561 | 3,472 | 830 | |
| Operating margin | 31.3% | 31.6% | 22.5% | |
| Return on assets | 46.5% | 44.0% | 51.6% | |
| Equity ratio | 9.9% | 43.5% | 66.5% | |
| Current ratio | 1.11 | 1.82 | 3.26 | |
| Revenue growth | – | 1.4% | 5.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 20.5 MNOK | 20.8 MNOK | 21.9 MNOK |
| Operating profit | 6.4 MNOK | 6.6 MNOK | 4.9 MNOK |
| Profit before tax | 7.0 MNOK | 6.6 MNOK | 5.0 MNOK |
| Net profit | 5.5 MNOK | 5.2 MNOK | 3.9 MNOK |
| Financial expenses | 0.1 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 15.1 MNOK | 15.3 MNOK | 9.9 MNOK |
| Current assets | 14.9 MNOK | 14.6 MNOK | 9.4 MNOK |
| Equity | 1.5 MNOK | 6.7 MNOK | 6.6 MNOK |
| Retained earnings | 1.5 MNOK | 6.6 MNOK | 6.5 MNOK |
| Total liabilities | 13.6 MNOK | 8.6 MNOK | 3.3 MNOK |
| Current liabilities | 13.4 MNOK | 8.1 MNOK | 2.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6438981.
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