Bakehuset AS
Score · fiscal year 2025
49of 100
How to read this: the company is ahead of 50 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 145 of 290 · What are Morning company classes?
Place in the whole sector: 1,050 of 2,001 · Industri
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 39 and solidity 79 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
Bakehuset AS is at the median for companies in the Morning class Large in the same sector in 2025.
Median score 49 among 290 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin 4.8% (median 6.3%) and equity ratio 54.3% (median 32.8%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 2,179 MNOK | 1,201 MNOK |
| Operating margin | 4.8% | 6.3% |
| Profit margin | 4.2% | 6.6% |
| Return on assets | 8.2% | 11.7% |
| Equity ratio | 54.3% | 32.8% |
| Debt-to-equity | 0.84 | 2.03 |
| Current ratio | 0.83 | 1.28 |
| Revenue growth | 1.3% | 7.1% |
| Revenue per employee | 1.97 MNOK | 5.72 MNOK |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 49, Bakehuset AS does better than 50% of companies in the Morning class Large in the same sector (290 companies) in 2025.
Score 2023–2025
- Bakehuset AS
- Median: companies in the Morning class Large in the same sector
Bakehuset AS has a score of 49 for 2025, rank 1,050 of 2,001 in the sector.
Strongest: Solidity: percentile 79 against peers, equity ratio 54.3% against a median of 32.8%. Consistency: percentile 76 against peers.
Weakest: Liquidity: percentile 10 against peers, current ratio 0.83 against a median of 1.28. Growth: percentile 30 against peers, revenue growth 1.3% against a median of 7.1%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 1.2 times current assets. Based on: current ratio 0.83 (median 1.28).
- What lies behind weak growth, 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
Bakehuset AS had an operating margin of 4.8% and an equity ratio of 54.3% in 2025, and ranks 1,050 of 2,001 in Industri.
No large changes in the key figures from 2024 to 2025.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 622 MNOK and 717 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 717 MNOK |
| EV/EBIT | 8.0 | 622 MNOK |
| P/B | 1.0 | 713 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
Consider strengthening liquidity: current liabilities are 1.2 times current assets.
Based on: Current ratio 0.83 (median 1.28).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.5% 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 −3.3%. 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 | 39 | weight 30% |
|---|---|---|
| Solidity | 79 | weight 25% |
| Liquidity | 10 | weight 15% |
| Growth | 30 | weight 15% |
| Consistency | 76 | weight 15% |
Durability: 48 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Bakehuset AS?
The operating margin was 4.8% in 2025, against a median of 6.3% among companies in the Morning class Large in the same sector. Return on assets was 8.2%.
How solid is Bakehuset AS?
The equity ratio was 54.3% in 2025 (median 32.8%). Debt-to-equity was 0.84 (median 2.03).
What is the liquidity of Bakehuset AS like?
The current ratio was 0.83 in 2025 (median 1.28). Current assets did not cover current liabilities.
How does Bakehuset AS compare in Industri?
Bakehuset AS ranks 1,050 of 2,001 in Industri for 2025. Among companies in the Morning class Large it is number 145 of 290. Revenue changed by 1.3% 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.
Public contracts
- Contracts awarded since 2024
- 4
- Total awarded value since 2024
- value not stated
- Framework agreements
- 4
- Left out of the total: the value is a ceiling, not actual spend.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 30 June 2026 | Innherred Anskaffelser | Rammeavtale på matvarer | 4.2 MNOK (framework) |
| 29 August 2025 | KRISTIANSAND KOMMUNE | Kontraktstildeling: Rammeavtale - Brød- og bakevarer | 9.0 MNOK (framework) |
| 21 March 2025 | Kongsvinger Kommune | Matvarer storkjøkken til kommuner i Kongsvingerregionen 2025 - 2029 | value not stated |
| 10 May 2024 | Stange kommune | 23/4159 Rammeavtale Brød og Bakervarer | 20.0 MNOK (framework) |
| 18 March 2022 | Innherred Innkjøp | Leveranse av matvarer - rammeavtale Innherred Innkjøp | 0.4 MNOK |
| 28 January 2019 | Kriminalomsorgsdirektoratet | Brød og brødprodukter | 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 28 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.
- 914183332
- Legal form
- AS · part of a group
- Sector
- Industri (10.710)
- Morning company class
- Large
- Employees
- 1,109 registered 10 October 2026
- Founded
- 28 August 1930 96 years in operation
- Share capital
- 4.74 MNOK
- Business address
- Eikenga 19, 0579 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
- LEI
- 5493002K6BYI4EQVKN81 not renewed (lapsed)
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
- Øystein Halvorsen
- Chair of the board
- Øyvind Andersen
- Board member
- Geir Alsaker
- Board member
- Roar Bakkejord
- Board member
- Kjell Arne Ness
- Board member
- Heidi Røren Dahl
- Board member
- Kristine Stranne
- Board member
- Finn Torstein Dybvik
- Board member
- Ulrikke Nilsen
- Deputy member
- Heidi Gaaren
- Deputy member
- Thomas Kvissellien
- Deputy member
- Stine Sæther
- Auditor
- ERNST & Young AS
- Accountant
- Norgesgruppen Regnskap AS
Source: Central Coordinating Register, fetched 31 October 2026. Only names are shown.
- Parent company
- Norgesgruppen ASA (Norway)
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 | 43 | 51 | 49 | |
| Rank | 1,199 | 993 | 1,050 | |
| Operating margin | 4.2% | 5.3% | 4.8% | |
| Return on assets | 7.8% | 9.5% | 8.2% | |
| Equity ratio | 45.8% | 52.5% | 54.3% | |
| Current ratio | 0.80 | 0.95 | 0.83 | |
| Revenue growth | – | 1.1% | 1.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 2,127.6 MNOK | 2,151.3 MNOK | 2,179.3 MNOK |
| Operating profit | 90.1 MNOK | 113.7 MNOK | 103.8 MNOK |
| Profit before tax | 69.7 MNOK | 96.7 MNOK | 92.1 MNOK |
| Net profit | 54.2 MNOK | 75.4 MNOK | 71.7 MNOK |
| Financial expenses | 26.3 MNOK | 19.6 MNOK | 15.2 MNOK |
| Total assets | 1,236.2 MNOK | 1,221.1 MNOK | 1,311.8 MNOK |
| Current assets | 326.9 MNOK | 324.8 MNOK | 323.6 MNOK |
| Equity | 565.8 MNOK | 641.2 MNOK | 712.9 MNOK |
| Retained earnings | 207.0 MNOK | 282.4 MNOK | 354.2 MNOK |
| Total liabilities | 670.4 MNOK | 579.9 MNOK | 598.9 MNOK |
| Current liabilities | 407.4 MNOK | 341.7 MNOK | 390.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 7172547.
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