H2CARRIER AS
Score · fiscal year 2025
37of 100
How to read this: the company is ahead of 30 % of small companies in the same sector in 2025. What does this mean?
Rank: 1,137 of 1,572 · Kraft og energi
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 78 out of 100 among small companies in the same sector in 2025. Methodology
Against the sector
H2CARRIER AS is 12 points below the median for small companies in the same sector in 2025.
Median score 49 among 1,303 companies.
Against small companies in the same sector in 2025: operating margin −429.0% (median 11.2%) and equity ratio 83.9% (median 38.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 2 MNOK | 2 MNOK |
| Operating margin | −429.0% | 11.2% |
| Profit margin | −542.5% | 2.1% |
| Return on assets | −33.9% | 0.4% |
| Equity ratio | 83.9% | 38.3% |
| Debt-to-equity | 0.19 | 1.06 |
| Current ratio | 1.62 | 1.67 |
| Revenue growth | −34.8% | 0.7% |
The median and “ahead of” refer to small companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 37, H2CARRIER AS does better than 30% of small companies in the same sector (1,316 companies) in 2025.
Score 2023–2025
- H2CARRIER AS
- Median: small companies in the same sector
H2CARRIER AS has a score of 37 for 2025, rank 1,137 of 1,572 in the sector.
Strongest: Solidity: percentile 78 against peers, equity ratio 83.9% against a median of 38.3%.
Weakest: Profitability: percentile 8 against peers, operating margin −429.0% against a median of 11.2%. Growth: percentile 15 against peers, revenue growth −34.8% against a median of 0.7%.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −542.5% (median 2.1%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −429.0% (median 11.2%).
- 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
H2CARRIER AS had an operating margin of −429.0% and an equity ratio of 83.9% in 2025, and ranks 1,137 of 1,572 in Kraft og energi.
From 2024 to 2025: the operating margin fell from −184.7% to −429.0% and went from a profit to a loss before tax.
H2CARRIER AS did weaker than the sector in 2025, the sector's weakest year.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 5 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 5 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 −542.5% (median 2.1%).
- 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 −429.0% (median 11.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 763.3% 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 Extreme margin: check the figures
Scenario analysis: the sector's weakest year
The operating margin was −429.0% in 2025 (sector median 12.6%), and the equity ratio 83.9%. The company had a loss before tax that year. In the other years the operating margin averaged −671.0%.
The sector's weakest year was 2025, with a median operating margin of 12.6%. Based on the 5 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 | 78 | weight 25% |
| Liquidity | 49 | weight 15% |
| Growth | 15 | weight 15% |
| Consistency | 39 | weight 15% |
Durability: 37 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is H2CARRIER AS?
The operating margin was −429.0% in 2025, against a median of 11.2% among small companies in the same sector. Return on assets was −33.9%. The company made a loss before tax.
How solid is H2CARRIER AS?
The equity ratio was 83.9% in 2025 (median 38.3%). Debt-to-equity was 0.19 (median 1.06).
What is the liquidity of H2CARRIER AS like?
The current ratio was 1.62 in 2025 (median 1.67).
How does H2CARRIER AS compare in Kraft og energi?
H2CARRIER AS ranks 1,137 of 1,572 in Kraft og energi for 2025. Among companies of the same size (small companies) it ranks 927 of 1,316. Revenue changed by −34.8% from the year before.
From the Central Coordinating Register
- Org. no.
- 925976962
- Legal form
- AS
- Sector
- Kraft og energi (35.129)
- Size tier
- small
- Employees
- 0–4 (not registered)
- Founded
- 21 September 2020 6 years in operation
- Share capital
- 3.55 MNOK
- Business address
- Martin Linges vei 25, 1364 FORNEBU (BÆRUM)
- Municipality
- Bærum rank 1 of 11 in KOSTRA group 12
- Audit
- Audit opted out from 17 November 2020
- 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
- Chief executive
- Mårten Lunde
- Chair of the board
- Aksel Olav Hillestad
- Board member
- Line Merete Amlund Hagen
- Board member
- Frederik Colban-Andersen
- Board member
- Sindre Utne
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 27 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 15 | 59 | 37 | |
| Rank | 1,308 | 420 | 1,137 | |
| Operating margin | −1,157.3% | −184.7% | −429.0% | |
| Return on assets | −131.6% | 35.7% | −33.9% | |
| Equity ratio | 21.5% | 79.1% | 83.9% | |
| Current ratio | 0.75 | 0.11 | 1.62 | |
| Revenue growth | – | 571.2% | −34.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.4 MNOK | 2.9 MNOK | 1.9 MNOK |
| Operating profit | −5.0 MNOK | −5.3 MNOK | −8.1 MNOK |
| Profit before tax | −5.0 MNOK | 5.8 MNOK | −10.2 MNOK |
| Net profit | −5.0 MNOK | 5.8 MNOK | −10.2 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 8.0 MNOK |
| Total assets | 3.8 MNOK | 16.4 MNOK | 6.5 MNOK |
| Current assets | 2.2 MNOK | 0.4 MNOK | 1.7 MNOK |
| Equity | 0.8 MNOK | 12.9 MNOK | 5.4 MNOK |
| Retained earnings | −9.1 MNOK | −3.2 MNOK | −13.4 MNOK |
| Total liabilities | 3.0 MNOK | 3.4 MNOK | 1.0 MNOK |
| Current liabilities | 3.0 MNOK | 3.4 MNOK | 1.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 27 October 2026, accounts id 6777598.
Further
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