Kleivan Utvikling AS
Not financial advice. The index, rank, signals and advice are rule-based indications from the latest filed annual accounts. They are not a credit rating, an assessment of management or a recommendation to buy, sell or do business with the company. Read more
Key facts
Is the company run well?
Five key figures against companies in the same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin 14.5% Weaker than the industry Industry: 47.7%
- Returns · return on assets 1.7% Weaker than the industry Industry: 7.8%
- Solidity · equity ratio 74.9% Better than the industry Industry: 27.9%
- Liquidity · current ratio 4.56 Better than the industry Industry: 1.40
The mark comes from the company's place among comparable companies (percentile): green from 60, amber from 40, red below 40. Negative equity, an operating loss and a current ratio under 1 pull it down regardless. Methodology
Score · fiscal year 2025
Not enough data: Not enough data (below minimum revenue)
Based on the annual accounts for 2025
How it has gone · 2023–2025
Revenue rose from 0.0 MNOK in 2023 to 0.8 MNOK in 2025. The equity ratio rose from 42.0% in 2023 to 74.9% in 2025.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Accounts in short
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.0 MNOK | 0.0 MNOK | 0.8 MNOK |
| Operating profit | −0.1 MNOK | −0.1 MNOK | 0.1 MNOK |
| Net profit | −0.1 MNOK | −0.2 MNOK | 0.0 MNOK |
| Total assets | 12.0 MNOK | 12.1 MNOK | 6.6 MNOK |
| Equity | 5.1 MNOK | 4.9 MNOK | 4.9 MNOK |
| Total liabilities | 7.0 MNOK | 7.2 MNOK | 1.6 MNOK |
From the Brønnøysund Register Centre, in the company's reporting currency (NOK). See every figure year by year
From the Central Coordinating Register
- Org. no.
- 912544729
- Legal form
- AS
- Sector
- Eiendom (68.120)
- Purpose
- Drive eiendomsutvikling og aktiviteter som har tilknytning til dette.
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 26 August 2013 13 years in operation
- Share capital
- 3.00 MNOK
- Business address
- Thamshavnveien 22, 7300 ORKANGER (ORKLAND)
- Municipality
- Orkland rank 20–35 of 38 in KOSTRA group 7
- Latest accounts filed
- 2025
- VAT registered
- No
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
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 14.5% (median 47.7%).
- watch
The operating result covers the financial costs less than one and a half times. How much higher interest or a weaker year can the company take?
Based on: Interest coverage (times) 1.3 (median 1.8); Financial costs as a share of debt 5.1% (median 5.0%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.1% 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 15.0%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 2 MNOK |
| Operating margin | 14.5% | 47.7% |
| Profit margin | 3.8% | 24.4% |
| Return on assets | 1.7% | 7.8% |
| Equity ratio | 74.9% | 27.9% |
| Debt-to-equity | 0.33 | 2.10 |
| Current ratio | 4.56 | 1.40 |
| Revenue growth | – | 3.3% |
The median and “ahead of” refer to companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
Score over time
Score over time needs at least two fiscal years with a score. It will appear when next year's figures are fetched or history is imported.
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
– | 40 days | |
| Inventory and other current assets, days Current assets other than receivables and bank deposits, that is inventory and short-term investments, in days of revenue. |
– | 0 days | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
– | −12.4% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
– | 54.9% | |
| Debt and interest burden | |||
| Interest coverage (times) Operating result divided by all financial costs. Below 1: operations do not cover the cost of the debt. |
1.3 | 1.8 | |
| Financial costs as a share of debt All financial costs (interest, currency losses and other) divided by all debt, interest-free debt included. Not an interest rate. |
5.1% | 5.0% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
14.6% | 87.8% | |
Of the financial costs of 0.1 MNOK, 0.1 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the same sector in 2025. The bar shows the share of the group with a lower figure: higher is not always better, long receivable days tie up capital, for example. These figures do not count in the score.
The industry or the company: what drove the result?
The company and its sector's drivers
Prices, rate and currency that shape the sector's year, year by year beside the operating margin of Kleivan Utvikling AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| House prices (existing homes), annual average | 134.5 | 141.6 | 140.8 | 144.6 | 152.5 | 158.7 (so far) |
| Change from the year before | +10.5% | +5.2% | −0.5% | +2.7% | +5.5% | +4.1% |
| The company's operating margin | – | – | – | – | 14.5% | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.17 (so far) |
| Change from the year before | −0.28 percentage points | +1.24 percentage points | +2.22 percentage points | +0.96 percentage points | −0.20 percentage points | −0.12 percentage points |
| The company's operating margin | – | – | – | – | 14.5% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Construction cost index for dwellings, annual average | 124.2 | 135.1 | 141.1 | 146.4 | 152.7 | 158.7 (so far) |
| Change from the year before | +8.7% | +8.8% | +4.4% | +3.7% | +4.3% | +3.9% |
| The company's operating margin | – | – | – | – | 14.5% | – |
Source: SSB (08651, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 103.0 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +3.0% |
| The company's operating margin | – | – | – | – | 14.5% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: real estate (indeks)
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: real estate, annual average | 91.7 | 94.3 | 96.8 | 103.2 | 108.5 | 111.3 (so far) |
| Change from the year before | +5.2% | +2.9% | +2.6% | +6.5% | +5.2% | +2.6% |
| The company's operating margin | – | – | – | – | 14.5% | – |
Source: SSB (12314, CC BY 4.0). Source
We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.
What the numbers say
Kleivan Utvikling AS had an equity ratio of 74.9% in 2025. The company is not ranked: not enough data (below minimum revenue).
From 2024 to 2025: went from a loss to a profit before tax and the equity ratio rose from 40.6% to 74.9%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 3 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 11.3 | not meaningful |
| EV/EBIT | 16.6 | not meaningful |
| P/B | 0.9 | 3 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 4% on the cost of equity gives a value 38% lower. No separate marketability discount is applied, because the premium already allows for the company being small and unlisted.
The multiples are from the listed industry that matches the NACE code (68.1): Real Estate (Development).
Not financial advice. The value range is a rough model estimate from listed-company multiples, not a valuation, a price target or a price offer. The actual value may differ greatly. Read more
A mechanical estimate from public accounts, not advice. A mechanical estimate from public accounts with listed multiples and fixed adjustments. Not a valuation and not advice to buy or sell. See the calculation
Questions and answers
How profitable is Kleivan Utvikling AS?
The operating margin was 14.5% in 2025, against a median of 47.7% among companies in the same sector. Return on assets was 1.7%.
How solid is Kleivan Utvikling AS?
The equity ratio was 74.9% in 2025 (median 27.9%). Debt-to-equity was 0.33 (median 2.10).
What is the liquidity of Kleivan Utvikling AS like?
The current ratio was 4.56 in 2025 (median 1.40).
Group structure · 2025
96 companies in the group according to the shareholder register for 2025. A company counts as a subsidiary when a Norwegian company owns more than half of its shares.
No owner holds more than half of the shares in Salvesen & Thams Invest AS.
Salvesen & Thams Invest AS has not filed group accounts in open data, so the group has no index of its own. Each company has its own accounts.
The group in figures
- Sectors
- Industri (14 companies), Handel (7 companies), Overnatting og servering (41 companies), Bygg og anlegg (3 companies), Forretningsmessig tjenesteyting (5 companies), Eiendom (20 companies) and 4 more 96 of 96 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Employees in Norway
- 991 in all. Trondheim 219, Oslo 176, Midtre Gauldal 107, Røros 87, Steinkjer 64, Levanger 58 and 14 more municipalities Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Negative equity
- 16 companies: Orkland Handelspark AS, Sanoi Søndre AS, Sotbar AS, Jordbærpikene Narvik AS, Kompis Lillo Gård AS, Jordbærpikene Madla AS …
- Loss
- 64 companies: Vitux AS, B&B Entreprenør AS, Mylna Sport AS, Nortrafo Production AS, Duun Industrier AS, Jordbærpikene Drift AS …
- Changed 2024–2025
- 8 companies joined the group, among them: Sabrura Markveien AS, Sabrura Triaden AS, Jordbærpikene Buskerud AS, Agendi AS, Duun-Smia AS, Duun Industrier AS. 4 companies left: Vaskehjelp AS, Sabrura Futura AS, Sabrura Ski AS, Digital Markedsplass AS.
A subsidiary with negative equity or a loss may be backed by the group, for example with group contributions or guarantees. It is an indication of what is worth asking about, not an assessment.
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.
Source: the Norwegian Tax Administration's shareholder register 2025 (majority owner with more than 50 % of the shares). Voting agreements and ownership through other countries are not included.
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 2 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: SALVESEN & Thams Eiendom AS (100%)
Ultimate owner: SALVESEN & Thams Invest AS
The owner: the majority owner SALVESEN & Thams Eiendom AS (holds 100%) made a loss in 2025. A weak parent can affect the subsidiary through group contributions, loans and guarantees. It is an indication to watch, not an assessment of the company.
- SALVESEN & Thams Eiendom AS · 100.0%
The company is new in the shareholder register in 2025.
Source: the Norwegian Tax Administration's shareholder register as of 2025. Figures may be older than today's ownership. Private persons are not shown by name.
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.
Is this your company? Suggest changes or add information
Figures last fetched 30 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | – | – | |
| Rank | – | – | – | |
| Operating margin | – | – | 14.5% | |
| Return on assets | −2.2% | −0.9% | 1.7% | |
| Equity ratio | 42.0% | 40.6% | 74.9% | |
| Current ratio | 6.93 | 6.99 | 4.56 | |
| Revenue growth | – | – | – |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.0 MNOK | 0.0 MNOK | 0.8 MNOK |
| Operating profit | −0.1 MNOK | −0.1 MNOK | 0.1 MNOK |
| Profit before tax | −0.2 MNOK | −0.2 MNOK | 0.0 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −0.1 MNOK | −0.2 MNOK | 0.0 MNOK |
| Financial expenses | −0.1 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 12.0 MNOK | 12.1 MNOK | 6.6 MNOK |
| Current assets | 11.9 MNOK | 11.9 MNOK | 6.4 MNOK |
| Equity | 5.1 MNOK | 4.9 MNOK | 4.9 MNOK |
| Retained earnings | 2.1 MNOK | 1.9 MNOK | 1.9 MNOK |
| Total liabilities | 7.0 MNOK | 7.2 MNOK | 1.6 MNOK |
| Current liabilities | 1.7 MNOK | 1.7 MNOK | 1.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 6720996.