European Cruise Service AS
Score · fiscal year 2025
46of 100
How to read this: the company is ahead of 41 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 39 of 65 · What are Morning company classes?
Place in the whole sector: 1,208 of 2,063 · Forretningsmessig tjenesteyting
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 62 and solidity 22 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
European Cruise Service AS is 3 points below the median for companies in the Morning class Large in the same sector in 2025.
Median score 49 among 65 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin 2.2% (median 3.8%) and equity ratio 9.5% (median 20.6%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1,702 MNOK | 888 MNOK |
| Operating margin | 2.2% | 3.8% |
| Profit margin | 2.4% | 3.8% |
| Return on assets | 28.4% | 9.3% |
| Equity ratio | 9.5% | 20.6% |
| Debt-to-equity | 9.47 | 3.86 |
| Current ratio | 1.01 | 1.09 |
| Revenue growth | 12.3% | 5.1% |
| Revenue per employee | 16.85 MNOK | 3.73 MNOK |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 46, European Cruise Service AS does better than 41% of companies in the Morning class Large in the same sector (65 companies) in 2025.
Score 2023–2025
- European Cruise Service AS
- Median: companies in the Morning class Large in the same sector
European Cruise Service AS has a score of 46 for 2025, rank 1,208 of 2,063 in the sector.
Strongest: Growth: percentile 67 against peers, revenue growth 12.3% against a median of 5.1%. Profitability: percentile 62 against peers, operating margin 2.2% against a median of 3.8%.
Weakest: Solidity: percentile 22 against peers, equity ratio 9.5% against a median of 20.6%. Liquidity: percentile 28 against peers, current ratio 1.01 against a median of 1.09.
Worth a closer look
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 9.5% (median 20.6%).
- What lies behind weak solidity, and will it last?
- What lies behind weak liquidity, 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
European Cruise Service AS had an operating margin of 2.2% and an equity ratio of 9.5% in 2025, and ranks 1,208 of 2,063 in Forretningsmessig tjenesteyting.
From 2024 to 2025: revenue grew by 12%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 15 MNOK and 324 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 324 MNOK |
| EV/EBIT | 8.0 | 311 MNOK |
| P/B | 1.0 | 15 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 equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 9.5% (median 20.6%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.3% 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.
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 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of −3.2%. Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 62 | weight 30% |
|---|---|---|
| Solidity | 22 | weight 25% |
| Liquidity | 28 | weight 15% |
| Growth | 67 | weight 15% |
| Consistency | 49 | weight 15% |
Durability: 49 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is European Cruise Service AS?
The operating margin was 2.2% in 2025, against a median of 3.8% among companies in the Morning class Large in the same sector. Return on assets was 28.4%.
How solid is European Cruise Service AS?
The equity ratio was 9.5% in 2025 (median 20.6%). Debt-to-equity was 9.47 (median 3.86).
What is the liquidity of European Cruise Service AS like?
The current ratio was 1.01 in 2025 (median 1.09).
How does European Cruise Service AS compare in Forretningsmessig tjenesteyting?
European Cruise Service AS ranks 1,208 of 2,063 in Forretningsmessig tjenesteyting for 2025. Among companies in the Morning class Large it is number 39 of 65. Revenue changed by 12.3% from the year before.
From the Central Coordinating Register
- Org. no.
- 946189006
- Legal form
- AS
- Sector
- Forretningsmessig tjenesteyting (79.121)
- Morning company class
- Large
- Employees
- 101 registered 10 September 2026
- Founded
- 15 December 1987 38 years in operation
- Share capital
- 5.00 MNOK
- Business address
- Skoltegrunnskaien 1, 5035 BERGEN
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- 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 31 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 1 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 52 | 48 | 46 | |
| Rank | 901 | 1,111 | 1,208 | |
| Operating margin | 3.0% | 2.4% | 2.2% | |
| Return on assets | 33.4% | 24.7% | 28.4% | |
| Equity ratio | 12.6% | 9.6% | 9.5% | |
| Current ratio | 1.09 | 1.02 | 1.01 | |
| Revenue growth | – | 19.5% | 12.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1,268.4 MNOK | 1,515.8 MNOK | 1,702.2 MNOK |
| Operating profit | 37.6 MNOK | 35.9 MNOK | 37.1 MNOK |
| Profit before tax | 37.5 MNOK | 35.2 MNOK | 41.6 MNOK |
| Net profit | 29.1 MNOK | 27.2 MNOK | 32.4 MNOK |
| Financial expenses | 2.7 MNOK | 3.8 MNOK | 3.3 MNOK |
| Total assets | 120.3 MNOK | 157.6 MNOK | 158.2 MNOK |
| Current assets | 114.9 MNOK | 145.7 MNOK | 144.9 MNOK |
| Equity | 15.1 MNOK | 15.1 MNOK | 15.1 MNOK |
| Retained earnings | 8.9 MNOK | 8.9 MNOK | 8.9 MNOK |
| Total liabilities | 105.2 MNOK | 142.5 MNOK | 143.1 MNOK |
| Current liabilities | 105.2 MNOK | 142.5 MNOK | 143.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 1 November 2026, accounts id 7209274.
Further
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