Altimur AS
Score · fiscal year 2025
45of 100
How to read this: the company is ahead of 40 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 7,780 of 12,867 · What are Morning company classes?
Place in the whole sector: 12,497 of 20,337 · Bygg og anlegg
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 16 and solidity 52 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Altimur AS is 5 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 12,860 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −7.1% (median 3.5%) and equity ratio 38.7% (median 32.8%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 2 MNOK | 3 MNOK |
| Operating margin | −7.1% | 3.5% |
| Profit margin | −7.5% | 3.0% |
| Return on assets | −11.2% | 7.8% |
| Equity ratio | 38.7% | 32.8% |
| Debt-to-equity | 1.59 | 1.43 |
| Current ratio | 2.01 | 1.41 |
| Revenue growth | 31.8% | 6.0% |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 45, Altimur AS does better than 40% of companies in the Morning class Micro in the same sector (12,867 companies) in 2025.
Score 2023–2025
- Altimur AS
- Median: companies in the Morning class Micro in the same sector
Altimur AS has a score of 45 for 2025, rank 12,497 of 20,337 in the sector.
Strongest: Growth: percentile 74 against peers, revenue growth 31.8% against a median of 6.0%. Liquidity: percentile 70 against peers, current ratio 2.01 against a median of 1.41.
Weakest: Profitability: percentile 16 against peers, operating margin −7.1% against a median of 3.5%. Consistency: percentile 35 against peers.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −7.5% (median 3.0%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −7.1% (median 3.5%).
- What lies behind weak profitability, and will it last?
- What lies behind weak consistency, 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
The industry or the company: what drove the result?
In 2025 the operating margin of Altimur AS rose by 8.4 percentage points. Comparable companies fell by a median 0.2 points. So the company did 8.6 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Altimur AS moved the same way as comparable companies 1 times. About 2% of the changes in operating margin were common to the industry; the rest was the company's own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2024 | −15.6% | 3.7% | −9.8 percentage points | −0.3 percentage points | −9.6 percentage points |
| 2025 | −7.1% | 3.5% | +8.4 percentage points | −0.2 percentage points | +8.6 percentage points |
Comparable companies are those in the same industry and Morning company class. Their change shows what hit the whole industry, the sector drivers below included. The rest is the company's own: contracts, costs, one-off items or operations. The share is approximate, and we claim no cause.
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 Altimur AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
House prices (existing homes) rose 5.5% in 2025; the operating margin of Altimur AS rose 8.4 percentage points.
| 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 | – | – | −5.7% | −15.6% | −7.1% | – |
Source: SSB (07221, CC BY 4.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
Construction cost index for dwellings rose 4.3% in 2025; the operating margin of Altimur AS rose 8.4 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Construction cost index for dwellings, annual average | 124.2 | 135.1 | 141.1 | 146.4 | 152.7 | 158.4 (so far) |
| Change from the year before | +8.7% | +8.8% | +4.4% | +3.7% | +4.3% | +3.7% |
| The company's operating margin | – | – | −5.7% | −15.6% | −7.1% | – |
Source: SSB (08651, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Altimur AS rose 8.4 percentage points.
| 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 | – | – | −5.7% | −15.6% | −7.1% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: specialised construction (indeks)
Wage index: specialised construction rose 5.8% in 2025; the operating margin of Altimur AS rose 8.4 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: specialised construction, annual average | 88.0 | 91.4 | 96.6 | 102.0 | 107.8 | 112.2 (so far) |
| Change from the year before | +3.4% | +3.9% | +5.7% | +5.6% | +5.8% | +4.1% |
| The company's operating margin | – | – | −5.7% | −15.6% | −7.1% | – |
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
Altimur AS had an operating margin of −7.1% and an equity ratio of 38.7% in 2025, and ranks 12,497 of 20,337 in Bygg og anlegg.
From 2024 to 2025: the operating margin rose from −15.6% to −7.1% and revenue grew by 32%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 0 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 16.9 | not meaningful |
| EV/EBIT | 12.7 | not meaningful |
| P/B | 1.6 | 0 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% on the cost of equity).
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
Worth a closer look
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −7.5% (median 3.0%).
- 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 −7.1% (median 3.5%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 4.6% 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 2021, the sector's weakest year, for this company.
The sector's weakest year was 2021, with a median operating margin of 1.8%. 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 | 16 | weight 30% |
|---|---|---|
| Solidity | 52 | weight 25% |
| Liquidity | 70 | weight 15% |
| Growth | 74 | weight 15% |
| Consistency | 35 | weight 15% |
Durability: 46 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Altimur AS?
The operating margin was −7.1% in 2025, against a median of 3.5% among companies in the Morning class Micro in the same sector. Return on assets was −11.2%. The company made a loss before tax.
How solid is Altimur AS?
The equity ratio was 38.7% in 2025 (median 32.8%). Debt-to-equity was 1.59 (median 1.43).
What is the liquidity of Altimur AS like?
The current ratio was 2.01 in 2025 (median 1.41).
How does Altimur AS compare in Bygg og anlegg?
Altimur AS ranks 12,497 of 20,337 in Bygg og anlegg for 2025. Among companies in the Morning class Micro it is number 7,780 of 12,867. Revenue changed by 31.8% from the year before.
From the Central Coordinating Register
- Org. no.
- 917145369
- Legal form
- AS
- Sector
- Bygg og anlegg (43.910)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 21 April 2016 10 years in operation
- Share capital
- 0.15 MNOK
- Business address
- Skomakerveien 8, 1640 RÅDE
- Municipality
- Råde rank 4–13 of 40 in KOSTRA group 1
- Audit
- Audit opted out from 10 May 2016
- Latest accounts filed
- 2025
- LEI
- 254900JQBXGZFYPX7C46 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
Loading roles …
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- No parent company: owned by persons
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 29 October 2026. The parent is the one the company itself reported to GLEIF.
Shareholders (2025)
- Number of shareholders
- 2 (one owner holds more than half)
- Largest owner
- 80.0%
- Split
- companies 0% · private persons 100% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
- Ultimate owner: private person
The company is new in the shareholder register in 2025.
The portfolio: 5 of the companies it owns shares in have accounts with us, 0 of them as majority owner. The average index is 52. 0 have negative equity and 0 made a loss in the latest year.
Holds shares in: Elkem ASA (0%), Veidekke ASA (0%), Norsk Hydro ASA (0%), Borregaard ASA (0%), Abg Sundal Collier Holding ASA (0%), Scatec ASA (0%), Magnora ASA (0%)
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.
Figures last fetched 26 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 56 | 37 | 45 | |
| Rank | 7,586 | 14,285 | 12,497 | |
| Operating margin | −5.7% | −15.6% | −7.1% | |
| Return on assets | −8.2% | −19.2% | −11.2% | |
| Equity ratio | 57.3% | 48.3% | 38.7% | |
| Current ratio | 3.09 | 2.48 | 2.01 | |
| Revenue growth | – | −34.6% | 31.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 2.9 MNOK | 1.9 MNOK | 2.5 MNOK |
| Operating profit | −0.2 MNOK | −0.3 MNOK | −0.2 MNOK |
| Profit before tax | −0.2 MNOK | −0.3 MNOK | −0.2 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −0.2 MNOK | −0.3 MNOK | −0.2 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 1.8 MNOK | 1.5 MNOK | 1.3 MNOK |
| Current assets | 1.2 MNOK | 1.0 MNOK | 1.0 MNOK |
| Equity | 1.1 MNOK | 0.7 MNOK | 0.5 MNOK |
| Retained earnings | 0.9 MNOK | 0.6 MNOK | 0.4 MNOK |
| Total liabilities | 0.8 MNOK | 0.8 MNOK | 0.8 MNOK |
| Current liabilities | 0.4 MNOK | 0.4 MNOK | 0.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6447857.
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