Secundo AS
Score · fiscal year 2024
55of 100
How to read this: the company is ahead of 60 % of companies in the Morning class Small in the same sector in 2024. What does this mean?
Rank in the Morning class Small: 503 of 1,262 · What are Morning company classes?
Place in the whole sector: 1,538 of 3,851 · Teknisk tjenesteyting og forskning
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 9 and solidity 97 out of 100 among companies in the Morning class Small in the same sector in 2024. Methodology
Against the sector
Secundo AS is 4 points above the median for companies in the Morning class Small in the same sector in 2024.
Median score 51 among 1,262 companies.
Against companies in the Morning class Small in the same sector in 2024: operating margin −16.9% (median 4.8%) and equity ratio 80.2% (median 32.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 21 MNOK | 20 MNOK |
| Operating margin | −16.9% | 4.8% |
| Profit margin | −17.4% | 5.1% |
| Return on assets | −15.6% | 12.0% |
| Equity ratio | 80.2% | 32.9% |
| Debt-to-equity | 0.25 | 1.90 |
| Current ratio | 2.53 | 1.39 |
| Revenue growth | 24.1% | 7.7% |
| Revenue per employee | 1.61 MNOK | 1.50 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 55, Secundo AS does better than 60% of companies in the Morning class Small in the same sector (1,262 companies) in 2024.
Score 2023–2025
- Secundo AS
- Median: companies in the Morning class Small in the same sector
What the numbers say
Secundo AS had an operating margin of −16.9% and an equity ratio of 80.2% in 2024, and ranks 1,538 of 3,851 in Teknisk tjenesteyting og forskning.
From 2023 to 2024: revenue grew by 24%.
This text is generated automatically from the 2024 accounts.
Three simple methods
One method gives a figure: 28 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.6 | not meaningful |
| EV/EBIT | 15.9 | not meaningful |
| P/B | 3.2 | 28 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% on the cost of equity).
A mechanical estimate from public accounts, not advice. A mechanical estimate from public accounts with listed multiples and fixed adjustments. Not a valuation and not advice to buy or sell. 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 −17.4% (median 5.1%).
- 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 −16.9% (median 4.8%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 4.4% 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.
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 −0.2%. Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 9 | weight 30% |
|---|---|---|
| Solidity | 97 | weight 25% |
| Liquidity | 89 | weight 15% |
| Growth | 72 | weight 15% |
| Consistency | 25 | weight 15% |
Durability: 57 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Secundo AS?
The operating margin was −16.9% in 2024, against a median of 4.8% among companies in the Morning class Small in the same sector. Return on assets was −15.6%. The company made a loss before tax.
How solid is Secundo AS?
The equity ratio was 80.2% in 2024 (median 32.9%). Debt-to-equity was 0.25 (median 1.90).
What is the liquidity of Secundo AS like?
The current ratio was 2.53 in 2024 (median 1.39).
How does Secundo AS compare in Teknisk tjenesteyting og forskning?
Secundo AS ranks 1,538 of 3,851 in Teknisk tjenesteyting og forskning for 2024. Among companies in the Morning class Small it is number 503 of 1,262. Revenue changed by 24.1% from the year before.
Public contracts
- Contracts awarded since 2024
- 1
- Total awarded value since 2024
- value not stated
- Framework agreements
- 1
- Left out of the total: the value is a ceiling, not actual spend.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 12 January 2026 | Bærum kommune | Kjøp, reparasjoner og fornying av brukte møbler og inventar | 8.0 MNOK (framework) |
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.
- 927664887
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.129)
- Morning company class
- Small
- Employees
- 13 registered 10 September 2026
- Founded
- 4 August 2021 5 years in operation
- Share capital
- 0.06 MNOK
- Business address
- Pottemakerveien 10, 0954 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- 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
Loading roles …
Source: Central Coordinating Register, fetched 1 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 38
- Largest owner
- 22.5% · top three 55.8%
- Split
- companies 99% · private persons 1% · foreign 0%
- Owned from the same municipality
- 98%
- Owners over 60
- 0% of the shares held by persons (median age 29)
- Amkt Holding AS · 22.5%
- VI Ønsker Styreplass AS · 17.5%
- Trendxl AS · 15.7%
- Eie Vekst AS · 7.6%
- Nordic Living AS · 7.2%
- Acme Ventures AS · 5.9%
- Kolset Holding AS · 4.2%
- Einar Hansen Holding AS · 2.6%
- Kty Holding AS · 2.5%
- Secundo AS · 2.4%
- 4 private persons · 1.3%
The company is new in the shareholder register in 2025.
Holds shares in: Secundo AS (2%)
Source: the Norwegian Tax Administration's shareholder register as of 2025. Figures may be older than today's ownership. Private persons are not shown by name.
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 5 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 59 | 55 | 59 | |
| Rank | 1,290 | 1,538 | 1,211 | |
| Operating margin | −16.6% | −16.9% | −9.4% | |
| Return on assets | −15.8% | −15.6% | −8.2% | |
| Equity ratio | 81.3% | 80.2% | 83.9% | |
| Current ratio | 2.96 | 2.53 | 3.29 | |
| Revenue growth | – | 24.1% | 23.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 16.9 MNOK | 21.0 MNOK | 25.8 MNOK |
| Operating profit | −2.8 MNOK | −3.5 MNOK | −2.4 MNOK |
| Profit before tax | −2.8 MNOK | −3.7 MNOK | −2.4 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −2.8 MNOK | −3.7 MNOK | −2.4 MNOK |
| Financial expenses | 0.0 MNOK | 0.2 MNOK | 0.1 MNOK |
| Total assets | 17.5 MNOK | 22.2 MNOK | 27.9 MNOK |
| Current assets | 9.7 MNOK | 11.2 MNOK | 14.8 MNOK |
| Equity | 14.3 MNOK | 17.8 MNOK | 23.4 MNOK |
| Retained earnings | – | – | – |
| Total liabilities | 3.3 MNOK | 4.4 MNOK | 4.5 MNOK |
| Current liabilities | 3.3 MNOK | 4.4 MNOK | 4.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 5 November 2026, accounts id 6223393.
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