SONGA OFFSHORE RIG 3 AS
Score · fiscal year 2024
20of 100
How to read this: the company is ahead of 4 % of large companies in the same sector in 2024. What does this mean?
Rank: 533 of 586 · Olje og gass
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 20 and solidity 0 out of 100 among large companies in the same sector in 2024. Methodology
Against the sector
SONGA OFFSHORE RIG 3 AS is 30 points below the median for large companies in the same sector in 2024.
Median score 50 among 95 companies.
Against large companies in the same sector in 2024: operating margin 3.4% (median 10.7%) and equity ratio −89.5% (median 25.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 3,651 MNOK | 2,688 MNOK |
| Operating margin | 3.4% | 10.7% |
| Profit margin | −1.3% | 12.5% |
| Return on assets | 4.9% | 14.7% |
| Equity ratio | −89.5% | 25.9% |
| Debt-to-equity | – | 2.71 |
| Current ratio | 0.31 | 1.12 |
| Revenue growth | 6.5% | 5.9% |
The median and “ahead of” refer to large companies in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 20, SONGA OFFSHORE RIG 3 AS does better than 4% of large companies in the same sector (95 companies) in 2024.
Score 2023–2025
- SONGA OFFSHORE RIG 3 AS
- Median: large companies in the same sector
What the numbers say
SONGA OFFSHORE RIG 3 AS had an operating margin of 3.4% and an equity ratio of −89.5% in 2024, and ranks 533 of 586 in Olje og gass.
From 2023 to 2024: the equity ratio rose from −250.8% to −89.5% and went from a profit to a loss before tax.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 18 MUSD and 26 MUSD.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 18 MUSD |
| EV/EBIT | 8.0 | 26 MUSD |
| P/B | 1.0 | not meaningful |
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
- critical
Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern?
Based on: Equity ratio −89.5% (median 25.9%).
- critical
Consider strengthening liquidity: current liabilities are 3.2 times current assets.
Based on: Current ratio 0.31 (median 1.12).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −1.3% (median 12.5%).
- 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 3.4% (median 10.7%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Data quality
- critical Negative equity
- watch Reports in a currency other than NOK
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 5 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 20 | weight 30% |
|---|---|---|
| Solidity | 0 | weight 25% |
| Liquidity | 4 | weight 15% |
| Growth | 51 | weight 15% |
| Consistency | 40 | weight 15% |
Durability: 23 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is SONGA OFFSHORE RIG 3 AS?
The operating margin was 3.4% in 2024, against a median of 10.7% among large companies in the same sector. Return on assets was 4.9%. The company made a loss before tax.
How solid is SONGA OFFSHORE RIG 3 AS?
The equity ratio was −89.5% in 2024 (median 25.9%). Equity is negative, so liabilities exceed assets.
What is the liquidity of SONGA OFFSHORE RIG 3 AS like?
The current ratio was 0.31 in 2024 (median 1.12). Current assets did not cover current liabilities.
How does SONGA OFFSHORE RIG 3 AS compare in Olje og gass?
SONGA OFFSHORE RIG 3 AS ranks 533 of 586 in Olje og gass for 2024. Among companies of the same size (large companies) it ranks 91 of 95. Revenue changed by 6.5% from the year before.
From the Central Coordinating Register
- Org. no.
- 913292073
- Legal form
- AS
- Sector
- Olje og gass (09.101)
- Size tier
- large
- Employees
- 0–4 (not registered)
- Founded
- 10 January 2014 12 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Maskinveien 26, 4033 STAVANGER
- Municipality
- Stavanger rank 5–9 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- Website
- www.songaoffshore.com
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
- Knut Vavik
- Chair of the board
- Knut Vavik
- Board member
- Iain Robert Inglis
- Board member
- Line Lura Anonsen
- Auditor
- ERNST & YOUNG AS
Source: Central Coordinating Register, fetched 25 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 | 25 | 20 | 27 | |
| Rank | 482 | 533 | 501 | |
| Operating margin | 15.0% | 3.4% | 6.0% | |
| Return on assets | 47.4% | 4.9% | 7.1% | |
| Equity ratio | −250.8% | −89.5% | −1.3% | |
| Current ratio | 0.23 | 0.31 | 0.74 | |
| Revenue growth | – | 6.5% | 1.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (USD). Revenue in NOK is converted from USD at the mean rate for the accounting period 1 January 2024–31 December 2024: 10.7433 (norges_bank). Balance-sheet amounts use the rate on the balance-sheet date. Ratios and growth are computed in USD. Exchange rates at Norges Bank
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 319.1 MUSD | 339.8 MUSD | 343.5 MUSD |
| Operating profit | 48.0 MUSD | 11.6 MUSD | 20.6 MUSD |
| Profit before tax | 38.1 MUSD | −4.5 MUSD | −23.5 MUSD |
| Net profit | 30.8 MUSD | 1.8 MUSD | −34.4 MUSD |
| Financial expenses | 11.5 MUSD | 17.8 MUSD | 44.5 MUSD |
| Total assets | 104.7 MUSD | 270.3 MUSD | 295.2 MUSD |
| Current assets | 85.3 MUSD | 126.6 MUSD | 161.7 MUSD |
| Equity | −262.7 MUSD | −241.9 MUSD | −3.7 MUSD |
| Retained earnings | −338.2 MUSD | −317.4 MUSD | −3.7 MUSD |
| Total liabilities | 367.5 MUSD | 512.2 MUSD | 298.9 MUSD |
| Current liabilities | 367.5 MUSD | 406.0 MUSD | 218.0 MUSD |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6078423.
Further
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