AET SEA SHUTTLE II AS
Score · fiscal year 2025
46of 100
How to read this: the company is ahead of 44 % of medium-sized companies in the same sector in 2025. What does this mean?
Rank: 1,191 of 2,035 · Sjøfart
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 36 and solidity 54 out of 100 among medium-sized companies in the same sector in 2025. Methodology
Against the sector
AET SEA SHUTTLE II AS is 2 points below the median for medium-sized companies in the same sector in 2025.
Median score 48 among 456 companies.
Against medium-sized companies in the same sector in 2025: operating margin 15.8% (median 22.9%) and equity ratio 57.8% (median 50.4%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 492 MNOK | 197 MNOK |
| Operating margin | 15.8% | 22.9% |
| Profit margin | 9.1% | 13.4% |
| Return on assets | 3.2% | 7.6% |
| Equity ratio | 57.8% | 50.4% |
| Debt-to-equity | 0.73 | 0.85 |
| Current ratio | 1.28 | 1.33 |
| Revenue growth | −1.1% | 2.4% |
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 46, AET SEA SHUTTLE II AS does better than 44% of medium-sized companies in the same sector (456 companies) in 2025.
Score 2023–2025
- AET SEA SHUTTLE II AS
- Median: medium-sized companies in the same sector
AET SEA SHUTTLE II AS has a score of 46 for 2025, rank 1,191 of 2,035 in the sector.
Strongest: Consistency: percentile 58 against peers.
Weakest: Profitability: percentile 36 against peers, operating margin 15.8% against a median of 22.9%. Growth: percentile 38 against peers, revenue growth −1.1% against a median of 2.4%.
Worth a closer look
- 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
AET SEA SHUTTLE II AS had an operating margin of 15.8% and an equity ratio of 57.8% in 2025, and ranks 1,191 of 2,035 in Sjøfart.
From 2024 to 2025: the operating margin fell from 36.1% to 15.8%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 5 MUSD and 150 MUSD.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 33 MUSD |
| EV/EBIT | 8.0 | 5 MUSD |
| P/B | 1.0 | 150 MUSD |
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
No rules were triggered for this year.
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 3.6% 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.
Data quality
- watch Reports in a currency other than NOK
Scenario analysis: the sector's weakest year
We have no accounts for 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of 6.1%. Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 36 | weight 30% |
|---|---|---|
| Solidity | 54 | weight 25% |
| Liquidity | 48 | weight 15% |
| Growth | 38 | weight 15% |
| Consistency | 58 | weight 15% |
Durability: 50 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is AET SEA SHUTTLE II AS?
The operating margin was 15.8% in 2025, against a median of 22.9% among medium-sized companies in the same sector. Return on assets was 3.2%.
How solid is AET SEA SHUTTLE II AS?
The equity ratio was 57.8% in 2025 (median 50.4%). Debt-to-equity was 0.73 (median 0.85).
What is the liquidity of AET SEA SHUTTLE II AS like?
The current ratio was 1.28 in 2025 (median 1.33).
How does AET SEA SHUTTLE II AS compare in Sjøfart?
AET SEA SHUTTLE II AS ranks 1,191 of 2,035 in Sjøfart for 2025. Among companies of the same size (medium-sized companies) it ranks 254 of 456. Revenue changed by −1.1% from the year before.
From the Central Coordinating Register
- Org. no.
- 923320482
- Legal form
- AS
- Sector
- Sjøfart (50.203)
- Size tier
- medium
- Employees
- 0–4 (not registered)
- Founded
- 4 July 2019 7 years in operation
- Share capital
- 4.20 MNOK
- Business address
- Sandvigveien 19, 4816 KOLBJØRNSVIK (ARENDAL)
- Municipality
- Arendal rank 5–10 of 10 in KOSTRA group 11
- Latest accounts filed
- 2025
- LEI
- 254900OG6BIUYUR8BM44 renews 6 March 2027
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
- Pavan Kumar Shivan Ditta Pavan Kumar Shivan Ditta
- Board member
- Jyoti Krishna Kumar Sharma
- Board member
- Terje Bodin Larsen
- Deputy member
- Robert Sullivan
- Deputy member
- Anders Hall Jomaas
- Auditor
- ERNST & YOUNG AS
- Accountant
- ENORA AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- Parent not made public
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 29 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 | 51 | 53 | 46 | |
| Rank | 817 | 810 | 1,191 | |
| Operating margin | 39.7% | 36.1% | 15.8% | |
| Return on assets | 6.4% | 6.4% | 3.2% | |
| Equity ratio | 49.9% | 54.4% | 57.8% | |
| Current ratio | 1.18 | 1.48 | 1.28 | |
| 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 2025–31 December 2025: 10.3912 (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 | 45.0 MUSD | 47.9 MUSD | 47.4 MUSD |
| Operating profit | 17.9 MUSD | 17.3 MUSD | 7.5 MUSD |
| Profit before tax | 14.5 MUSD | 12.6 MUSD | 4.3 MUSD |
| Net profit | 13.7 MUSD | 11.3 MUSD | 3.3 MUSD |
| Financial expenses | 3.4 MUSD | 5.3 MUSD | 4.0 MUSD |
| Total assets | 281.1 MUSD | 279.1 MUSD | 259.2 MUSD |
| Current assets | 25.6 MUSD | 38.4 MUSD | 32.1 MUSD |
| Equity | 140.4 MUSD | 151.7 MUSD | 149.8 MUSD |
| Retained earnings | 40.5 MUSD | 51.8 MUSD | 49.9 MUSD |
| Total liabilities | 140.7 MUSD | 127.3 MUSD | 109.4 MUSD |
| Current liabilities | 21.7 MUSD | 26.0 MUSD | 25.1 MUSD |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6941560.
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