Bluetec AS
Score · fiscal year 2025
42of 100
How to read this: the company is ahead of 32 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 1,205 of 1,763 · What are Morning company classes?
Place in the whole sector: 13,372 of 20,338 · 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 3 and solidity 85 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
Bluetec AS is 8 points below the median for companies in the Morning class Medium in the same sector in 2025.
Median score 50 among 1,762 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin −11.1% (median 4.5%) and equity ratio 49.6% (median 30.5%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 77 MNOK | 91 MNOK |
| Operating margin | −11.1% | 4.5% |
| Profit margin | −12.2% | 4.5% |
| Return on assets | −25.9% | 11.4% |
| Equity ratio | 49.6% | 30.5% |
| Debt-to-equity | 1.01 | 2.23 |
| Current ratio | 1.84 | 1.38 |
| Revenue growth | −24.3% | 6.8% |
| Revenue per employee | 1.88 MNOK | 2.53 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 42, Bluetec AS does better than 32% of companies in the Morning class Medium in the same sector (1,763 companies) in 2025.
Score 2023–2025
- Bluetec AS
- Median: companies in the Morning class Medium in the same sector
Bluetec AS has a score of 42 for 2025, rank 13,372 of 20,338 in the sector.
Strongest: Solidity: percentile 85 against peers, equity ratio 49.6% against a median of 30.5%. Liquidity: percentile 80 against peers, current ratio 1.84 against a median of 1.38.
Weakest: Profitability: percentile 3 against peers, operating margin −11.1% against a median of 4.5%. Growth: percentile 7 against peers, revenue growth −24.3% against a median of 6.8%.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −12.2% (median 4.5%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −11.1% (median 4.5%).
- What lies behind weak profitability, and will it last?
- 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
Bluetec AS had an operating margin of −11.1% and an equity ratio of 49.6% in 2025, and ranks 13,372 of 20,338 in Bygg og anlegg.
From 2024 to 2025: the operating margin fell from 11.2% to −11.1% and went from a profit to a loss before tax.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 16 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 16 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
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −12.2% (median 4.5%).
- 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 −11.1% (median 4.5%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 6.0% 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 | 3 | weight 30% |
|---|---|---|
| Solidity | 85 | weight 25% |
| Liquidity | 80 | weight 15% |
| Growth | 7 | weight 15% |
| Consistency | 44 | weight 15% |
Durability: 67 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Bluetec AS?
The operating margin was −11.1% in 2025, against a median of 4.5% among companies in the Morning class Medium in the same sector. Return on assets was −25.9%. The company made a loss before tax.
How solid is Bluetec AS?
The equity ratio was 49.6% in 2025 (median 30.5%). Debt-to-equity was 1.01 (median 2.23).
What is the liquidity of Bluetec AS like?
The current ratio was 1.84 in 2025 (median 1.38).
How does Bluetec AS compare in Bygg og anlegg?
Bluetec AS ranks 13,372 of 20,338 in Bygg og anlegg for 2025. Among companies in the Morning class Medium it is number 1,205 of 1,763. Revenue changed by −24.3% from the year before.
Public contracts
- Contracts awarded since 2024
- 1
- Total awarded value since 2024
- value not stated
- 1 contracts without a stated value are not in the total.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 18 June 2024 | Norconsult Norge AS | Solcelleanlegg på SIT-hall - Grenland Havn | value not stated |
| 11 August 2023 | Vestfold og Telemark fylkeskommune | Solceller til 17 bygg fordelt på 3 soner | 22.2 MNOK |
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 27 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.
- 918024883
- Legal form
- AS
- Sector
- Bygg og anlegg (43.210)
- Morning company class
- Medium
- Employees
- 41 registered 10 August 2026
- Founded
- 26 October 2016 10 years in operation
- Share capital
- 0.06 MNOK
- Business address
- Stoltenbergs gate 48, 3112 TØNSBERG
- Municipality
- Tønsberg rank 2 of 10 in KOSTRA group 11
- Latest accounts filed
- 2025
- LEI
- 894500S54XKGMM6KCS36 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
- Kim Olsen
- Chair of the board
- Øystein Worren
- Board member
- Henning Lunde
- Auditor
- KPMG AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- Parent not reported
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 31 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 26 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 83 | 76 | 42 | |
| Rank | 1,206 | 1,460 | 13,372 | |
| Operating margin | 13.5% | 11.2% | −11.1% | |
| Return on assets | 48.0% | 27.2% | −25.9% | |
| Equity ratio | 42.4% | 56.1% | 49.6% | |
| Current ratio | 1.83 | 2.23 | 1.84 | |
| Revenue growth | – | −20.0% | −24.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 127.3 MNOK | 101.8 MNOK | 77.0 MNOK |
| Operating profit | 17.2 MNOK | 11.4 MNOK | −8.6 MNOK |
| Profit before tax | 16.5 MNOK | 10.8 MNOK | −9.4 MNOK |
| Net profit | 12.9 MNOK | 8.4 MNOK | −7.5 MNOK |
| Financial expenses | 0.9 MNOK | 0.7 MNOK | 1.0 MNOK |
| Total assets | 36.3 MNOK | 42.3 MNOK | 32.7 MNOK |
| Current assets | 34.9 MNOK | 40.7 MNOK | 30.3 MNOK |
| Equity | 15.4 MNOK | 23.7 MNOK | 16.2 MNOK |
| Retained earnings | 11.3 MNOK | 19.7 MNOK | 12.2 MNOK |
| Total liabilities | 20.9 MNOK | 18.5 MNOK | 16.4 MNOK |
| Current liabilities | 19.0 MNOK | 18.2 MNOK | 16.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6885274.
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