AET SEA SHUTTLE II AS
Score · fiscal year 2024
53of 100
How to read this: the company is ahead of 61 % of medium-sized companies in the same sector in 2024. What does this mean?
Rank: 810 of 1,920 · Sjøfart
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 49 and solidity 53 out of 100 among medium-sized companies in the same sector in 2024. Methodology
Against the sector
AET SEA SHUTTLE II AS is 4 points above the median for medium-sized companies in the same sector in 2024.
Median score 49 among 418 companies.
Against medium-sized companies in the same sector in 2024: operating margin 36.1% (median 27.2%) and equity ratio 54.4% (median 47.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 515 MNOK | 198 MNOK |
| Operating margin | 36.1% | 27.2% |
| Profit margin | 26.3% | 16.9% |
| Return on assets | 6.4% | 9.3% |
| Equity ratio | 54.4% | 47.9% |
| Debt-to-equity | 0.84 | 0.89 |
| Current ratio | 1.48 | 1.44 |
| Revenue growth | 6.5% | 5.4% |
The median and “ahead of” refer to medium-sized companies in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 53, AET SEA SHUTTLE II AS does better than 61% of medium-sized companies in the same sector (418 companies) in 2024.
Score 2023–2025
- AET SEA SHUTTLE II AS
- Median: medium-sized companies in the same sector
What the numbers say
AET SEA SHUTTLE II AS had an operating margin of 36.1% and an equity ratio of 54.4% in 2024, and ranks 810 of 1,920 in Sjøfart.
From 2023 to 2024: the operating margin fell from 39.7% to 36.1%.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 72 MUSD and 152 MUSD.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 113 MUSD |
| EV/EBIT | 8.0 | 72 MUSD |
| P/B | 1.0 | 152 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 4.2% of the debt in 2024. The policy rate averaged 4.50 % 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 | 49 | weight 30% |
|---|---|---|
| Solidity | 53 | weight 25% |
| Liquidity | 51 | weight 15% |
| Growth | 52 | weight 15% |
| Consistency | 66 | weight 15% |
Durability: 52 (average over 2 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 36.1% in 2024, against a median of 27.2% among medium-sized companies in the same sector. Return on assets was 6.4%.
How solid is AET SEA SHUTTLE II AS?
The equity ratio was 54.4% in 2024 (median 47.9%). Debt-to-equity was 0.84 (median 0.89).
What is the liquidity of AET SEA SHUTTLE II AS like?
The current ratio was 1.48 in 2024 (median 1.44).
How does AET SEA SHUTTLE II AS compare in Sjøfart?
AET SEA SHUTTLE II AS ranks 810 of 1,920 in Sjøfart for 2024. Among companies of the same size (medium-sized companies) it ranks 164 of 418. Revenue changed by 6.5% 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 6–10 of 10 in KOSTRA group 11
- Latest accounts filed
- 2025
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 25 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 | 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 2024–31 December 2024: 10.7433 (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 6175829.
Further
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