BLUE TERN AS
Score · fiscal year 2025
37of 100
How to read this: the company is ahead of 22 % of medium-sized companies in the same sector in 2025. What does this mean?
Rank: 15,142 of 20,440 · 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 8 and solidity 95 out of 100 among medium-sized companies in the same sector in 2025. Methodology
Against the sector
BLUE TERN AS is 13 points below the median for medium-sized companies in the same sector in 2025.
Median score 50 among 870 companies.
Against medium-sized companies in the same sector in 2025: operating margin −9.5% (median 4.6%) and equity ratio 57.4% (median 28.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 387 MNOK | 178 MNOK |
| Operating margin | −9.5% | 4.6% |
| Profit margin | −11.8% | 4.6% |
| Return on assets | −1.5% | 11.5% |
| Equity ratio | 57.4% | 28.9% |
| Debt-to-equity | 0.74 | 2.44 |
| Current ratio | 0.44 | 1.35 |
| Revenue growth | 12.3% | 6.6% |
The median and “ahead of” refer to medium-sized companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 37, BLUE TERN AS does better than 22% of medium-sized companies in the same sector (871 companies) in 2025.
Score 2023–2025
- BLUE TERN AS
- Median: medium-sized companies in the same sector
BLUE TERN AS has a score of 37 for 2025, rank 15,142 of 20,440 in the sector.
Strongest: Solidity: percentile 95 against peers, equity ratio 57.4% against a median of 28.9%.
Weakest: Liquidity: percentile 1 against peers, current ratio 0.44 against a median of 1.35. Profitability: percentile 8 against peers, operating margin −9.5% against a median of 4.6%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 2.3 times current assets. Based on: current ratio 0.44 (median 1.35).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −11.8% (median 4.6%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −9.5% (median 4.6%).
- What lies behind weak profitability, 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
BLUE TERN AS had an operating margin of −9.5% and an equity ratio of 57.4% in 2025, and ranks 15,142 of 20,440 in Bygg og anlegg.
From 2024 to 2025: the operating margin fell from 60.6% to −9.5% 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: 93 MEUR.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 93 MEUR |
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
Consider strengthening liquidity: current liabilities are 2.3 times current assets.
Based on: Current ratio 0.44 (median 1.35).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −11.8% (median 4.6%).
- 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 −9.5% (median 4.6%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.1% 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.
Data quality
- watch Reports in a currency other than NOK
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 | 8 | weight 30% |
|---|---|---|
| Solidity | 95 | weight 25% |
| Liquidity | 1 | weight 15% |
| Growth | 60 | weight 15% |
| Consistency | 9 | weight 15% |
Durability: 60 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is BLUE TERN AS?
The operating margin was −9.5% in 2025, against a median of 4.6% among medium-sized companies in the same sector. Return on assets was −1.5%. The company made a loss before tax.
How solid is BLUE TERN AS?
The equity ratio was 57.4% in 2025 (median 28.9%). Debt-to-equity was 0.74 (median 2.44).
What is the liquidity of BLUE TERN AS like?
The current ratio was 0.44 in 2025 (median 1.35). Current assets did not cover current liabilities.
How does BLUE TERN AS compare in Bygg og anlegg?
BLUE TERN AS ranks 15,142 of 20,440 in Bygg og anlegg for 2025. Among companies of the same size (medium-sized companies) it ranks 676 of 871. Revenue changed by 12.3% from the year before.
From the Central Coordinating Register
- Org. no.
- 923266976
- Legal form
- AS
- Sector
- Bygg og anlegg (42.221)
- Size tier
- medium
- Employees
- 0–4 (not registered)
- Founded
- 12 August 2019 7 years in operation
- Share capital
- 0.30 MNOK
- Business address
- Fred. Olsens gate 2, 0152 OSLO
- Municipality
- Oslo rank 63–221 of 357 in Norway
- Latest accounts filed
- 2025
- LEI
- 894500EWWC6V56JXJI63 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
- Chair of the board
- Haakon Magne Ore
- Board member
- Weiguang Gu
- Auditor
- KPMG AS
Source: Central Coordinating Register, fetched 29 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 | 74 | 69 | 37 | |
| Rank | 2,912 | 3,219 | 15,142 | |
| Operating margin | 64.2% | 60.6% | −9.5% | |
| Return on assets | 13.0% | 10.1% | −1.5% | |
| Equity ratio | 74.7% | 78.2% | 57.4% | |
| Current ratio | 1.64 | 1.74 | 0.44 | |
| Revenue growth | – | −11.2% | 12.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (EUR). Revenue in NOK is converted from EUR at the mean rate for the accounting period 1 January 2025–31 December 2025: 11.7177 (norges_bank). Balance-sheet amounts use the rate on the balance-sheet date. Ratios and growth are computed in EUR. Exchange rates at Norges Bank
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 33.1 MEUR | 29.4 MEUR | 33.0 MEUR |
| Operating profit | 21.2 MEUR | 17.8 MEUR | −3.1 MEUR |
| Profit before tax | 16.7 MEUR | 16.9 MEUR | −3.9 MEUR |
| Net profit | 13.5 MEUR | 13.7 MEUR | −1.1 MEUR |
| Financial expenses | 7.6 MEUR | 2.9 MEUR | 1.5 MEUR |
| Total assets | 187.1 MEUR | 195.7 MEUR | 162.2 MEUR |
| Current assets | 18.6 MEUR | 38.5 MEUR | 28.0 MEUR |
| Equity | 139.7 MEUR | 153.0 MEUR | 93.1 MEUR |
| Retained earnings | 14.7 MEUR | 27.9 MEUR | – |
| Total liabilities | 47.4 MEUR | 42.7 MEUR | 69.0 MEUR |
| Current liabilities | 11.3 MEUR | 22.2 MEUR | 64.3 MEUR |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 7088155.
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