FORRA ULTRAMAX AS
Score · fiscal year 2024
62of 100
How to read this: the company is ahead of 77 % of small companies in the same sector in 2024. What does this mean?
Rank: 333 of 1,468 · Sjøfart
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 76 and solidity 29 out of 100 among small companies in the same sector in 2024. Methodology
Against the sector
FORRA ULTRAMAX AS is 12 points above the median for small companies in the same sector in 2024.
Median score 50 among 1,070 companies.
Against small companies in the same sector in 2024: operating margin 43.3% (median 7.1%) and equity ratio 29.0% (median 50.8%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 59 MNOK | 5 MNOK |
| Operating margin | 43.3% | 7.1% |
| Profit margin | −15.0% | 6.4% |
| Return on assets | 10.0% | 2.9% |
| Equity ratio | 29.0% | 50.8% |
| Debt-to-equity | 2.45 | 0.49 |
| Current ratio | 112.58 | 1.66 |
| Revenue growth | 95.0% | 6.2% |
The median and “ahead of” refer to small companies in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 62, FORRA ULTRAMAX AS does better than 77% of small companies in the same sector (1,071 companies) in 2024.
Score 2023–2025
- FORRA ULTRAMAX AS
- Median: small companies in the same sector
What the numbers say
FORRA ULTRAMAX AS had an operating margin of 43.3% and an equity ratio of 29.0% in 2024, and ranks 333 of 1,468 in Sjøfart.
From 2023 to 2024: went from a profit to a loss before tax and revenue grew by 95%.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 1 MNOK and 90 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | 1 MNOK |
| P/B | 1.0 | 90 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 −15.0% (median 6.4%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Data quality
No anomalies found in the figures.
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 | 76 | weight 30% |
|---|---|---|
| Solidity | 29 | weight 25% |
| Liquidity | 96 | weight 15% |
| Growth | 87 | weight 15% |
| Consistency | 32 | weight 15% |
Durability: 61 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is FORRA ULTRAMAX AS?
The operating margin was 43.3% in 2024, against a median of 7.1% among small companies in the same sector. Return on assets was 10.0%. The company made a loss before tax.
How solid is FORRA ULTRAMAX AS?
The equity ratio was 29.0% in 2024 (median 50.8%). Debt-to-equity was 2.45 (median 0.49).
What is the liquidity of FORRA ULTRAMAX AS like?
The current ratio was 112.58 in 2024 (median 1.66).
How does FORRA ULTRAMAX AS compare in Sjøfart?
FORRA ULTRAMAX AS ranks 333 of 1,468 in Sjøfart for 2024. Among companies of the same size (small companies) it ranks 248 of 1,071. Revenue changed by 95.0% from the year before.
From the Central Coordinating Register
- Org. no.
- 927688867
- Legal form
- AS
- Sector
- Sjøfart (50.201)
- Size tier
- small
- Employees
- 0–4 (not registered)
- Founded
- 6 August 2021 5 years in operation
- Share capital
- 1.00 MNOK
- Business address
- c/o Uthalden Maritime Management AS, Flyt kontor, Dronning Eufemias gate 8, 0191 OSLO
- Municipality
- Oslo rank 106–282 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
- Chair of the board
- Jonas Alexander Advocaat Kraft
- Board member
- Boris Tollning
- Auditor
- DELOITTE 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 27 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 59 | 62 | 55 | |
| Rank | 411 | 333 | 595 | |
| Operating margin | 27.1% | 43.3% | 29.9% | |
| Return on assets | 5.8% | 10.0% | 13.6% | |
| Equity ratio | 51.3% | 29.0% | 36.2% | |
| Current ratio | 19.78 | 112.58 | 31.68 | |
| Revenue growth | – | 95.0% | −18.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 30.5 MNOK | 59.4 MNOK | 48.2 MNOK |
| Operating profit | 8.2 MNOK | 25.7 MNOK | 14.4 MNOK |
| Profit before tax | 4.9 MNOK | −8.9 MNOK | 23.7 MNOK |
| Net profit | 4.9 MNOK | −8.9 MNOK | 23.7 MNOK |
| Financial expenses | 14.7 MNOK | 39.8 MNOK | 15.9 MNOK |
| Total assets | 338.2 MNOK | 310.7 MNOK | 291.6 MNOK |
| Current assets | 36.9 MNOK | 19.0 MNOK | 10.7 MNOK |
| Equity | 173.6 MNOK | 90.0 MNOK | 105.6 MNOK |
| Retained earnings | 2.7 MNOK | −6.2 MNOK | 17.5 MNOK |
| Total liabilities | 164.6 MNOK | 220.6 MNOK | 186.0 MNOK |
| Current liabilities | 1.9 MNOK | 0.2 MNOK | 0.3 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 27 October 2026, accounts id 5952313.
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