Vard Electro AS
Score · fiscal year 2024
36of 100
How to read this: the company is ahead of 20 % of companies in the Morning class Large in the same sector in 2024. What does this mean?
Rank in the Morning class Large: 234 of 294 · What are Morning company classes?
Place in the whole sector: 2,229 of 2,919 · Industri
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 33 and solidity 10 out of 100 among companies in the Morning class Large in the same sector in 2024. Methodology
Against the sector
Vard Electro AS is 14 points below the median for companies in the Morning class Large in the same sector in 2024.
Median score 50 among 294 companies.
Against companies in the Morning class Large in the same sector in 2024: operating margin 4.0% (median 5.8%) and equity ratio 13.0% (median 33.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 2,617 MNOK | 1,092 MNOK |
| Operating margin | 4.0% | 5.8% |
| Profit margin | 5.1% | 5.6% |
| Return on assets | 6.9% | 11.9% |
| Equity ratio | 13.0% | 33.1% |
| Debt-to-equity | 6.69 | 2.04 |
| Current ratio | 1.10 | 1.28 |
| Revenue growth | 44.8% | 6.1% |
| Revenue per employee | 6.32 MNOK | 5.73 MNOK |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 36, Vard Electro AS does better than 20% of companies in the Morning class Large in the same sector (294 companies) in 2024.
Score 2023–2025
- Vard Electro AS
- Median: companies in the Morning class Large in the same sector
What the numbers say
Vard Electro AS had an operating margin of 4.0% and an equity ratio of 13.0% in 2024, and ranks 2,229 of 2,919 in Industri.
From 2023 to 2024: revenue grew by 45% and the equity ratio fell from 18.5% to 13.0%.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 365 MNOK and 1,051 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 1,051 MNOK |
| EV/EBIT | 8.0 | 879 MNOK |
| P/B | 1.0 | 365 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
- watch
Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have?
Based on: Revenue growth 44.8% (median 6.1%); Current ratio 1.10 (median 1.28).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.4% of the debt in 2024. The policy rate averaged 4.50 % 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 0.0%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 33 | weight 30% |
|---|---|---|
| Solidity | 10 | weight 25% |
| Liquidity | 32 | weight 15% |
| Growth | 92 | weight 15% |
| Consistency | 31 | weight 15% |
Durability: 32 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Vard Electro AS?
The operating margin was 4.0% in 2024, against a median of 5.8% among companies in the Morning class Large in the same sector. Return on assets was 6.9%.
How solid is Vard Electro AS?
The equity ratio was 13.0% in 2024 (median 33.1%). Debt-to-equity was 6.69 (median 2.04).
What is the liquidity of Vard Electro AS like?
The current ratio was 1.10 in 2024 (median 1.28).
How does Vard Electro AS compare in Industri?
Vard Electro AS ranks 2,229 of 2,919 in Industri for 2024. Among companies in the Morning class Large it is number 234 of 294. Revenue changed by 44.8% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
Read the figures with care: a company in a group can look strong because of group contributions, or weak because dividends go up to the parent. The figures are indications, not the full picture.
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 878634772
- Legal form
- AS · part of a group
- Sector
- Industri (30.110)
- Morning company class
- Large
- Employees
- 414 registered 10 October 2026
- Founded
- 20 May 1997 29 years in operation
- Share capital
- 1.00 MNOK
- Business address
- Tennfjordvegen 113, 6264 TENNFJORD (HARAM)
- Municipality
- Haram rank 11–25 of 40 in KOSTRA group 1
- Latest accounts filed
- 2025
- Website
- vard.com
- LEI
- 529900P6L1SEV97WE881 renews 30 October 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
Loading roles …
Source: Central Coordinating Register, fetched 31 October 2026. Only names are shown.
- Parent company
- FINCANTIERI S.P.A. (Italy)
- Ultimate parent
- "CASSA DEPOSITI E PRESTITI SOCIETA' PER AZIONI" (DENOMINATA ANCHE : "CDP S.P.A.) (Italy)
Foreign-owned according to GLEIF.
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 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 30 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 29 | 36 | 29 | |
| Rank | 2,280 | 2,229 | 2,498 | |
| Operating margin | 4.1% | 4.0% | 3.7% | |
| Return on assets | 10.8% | 6.9% | 6.2% | |
| Equity ratio | 18.5% | 13.0% | 15.8% | |
| Current ratio | 1.14 | 1.10 | 1.12 | |
| Revenue growth | – | 44.8% | −4.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1,806.9 MNOK | 2,617.3 MNOK | 2,489.2 MNOK |
| Operating profit | 74.6 MNOK | 104.2 MNOK | 91.5 MNOK |
| Profit before tax | 178.5 MNOK | 134.8 MNOK | 75.3 MNOK |
| Net profit | 162.2 MNOK | 105.1 MNOK | 58.5 MNOK |
| Financial expenses | 27.2 MNOK | 58.2 MNOK | 64.6 MNOK |
| Total assets | 1,909.3 MNOK | 2,809.5 MNOK | 2,257.9 MNOK |
| Current assets | 1,759.6 MNOK | 2,657.2 MNOK | 2,086.4 MNOK |
| Equity | 352.5 MNOK | 365.1 MNOK | 357.6 MNOK |
| Retained earnings | 0.0 MNOK | 12.7 MNOK | 5.1 MNOK |
| Total liabilities | 1,556.9 MNOK | 2,444.4 MNOK | 1,900.3 MNOK |
| Current liabilities | 1,539.9 MNOK | 2,419.6 MNOK | 1,861.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 5923977.
Further
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