HAFSLUND CELSIO AS
Score · fiscal year 2025
51of 100
How to read this: the company is ahead of 56 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 27 of 60 · What are Morning company classes?
Place in the whole sector: 424 of 877 · 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 25 and solidity 98 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
HAFSLUND CELSIO AS is 2 points above the median for companies in the Morning class Large in the same sector in 2025.
Median score 49 among 60 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin 10.2% (median 18.2%) and equity ratio 69.0% (median 35.0%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 2,428 MNOK | 1,612 MNOK |
| Operating margin | 10.2% | 18.2% |
| Profit margin | −2.9% | 16.8% |
| Return on assets | 1.2% | 8.2% |
| Equity ratio | 69.0% | 35.0% |
| Debt-to-equity | 0.45 | 1.86 |
| Current ratio | 1.40 | 1.04 |
| Revenue growth | 3.9% | 10.3% |
| Revenue per employee | 9.16 MNOK | 28.63 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 51, HAFSLUND CELSIO AS does better than 56% of companies in the Morning class Large in the same sector (60 companies) in 2025.
Score 2023–2025
- HAFSLUND CELSIO AS
- Median: companies in the Morning class Large in the same sector
HAFSLUND CELSIO AS has a score of 51 for 2025, rank 424 of 877 in the sector.
Strongest: Solidity: percentile 98 against peers, equity ratio 69.0% against a median of 35.0%. Liquidity: percentile 78 against peers, current ratio 1.40 against a median of 1.04.
Weakest: Consistency: percentile 13 against peers. Profitability: percentile 25 against peers, operating margin 10.2% against a median of 18.2%.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −2.9% (median 16.8%).
- What lies behind weak consistency, and will it last?
- What lies behind weak profitability, 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
HAFSLUND CELSIO AS had an operating margin of 10.2% and an equity ratio of 69.0% in 2025, and ranks 424 of 877 in Kraft og energi.
From 2024 to 2025: went from a profit to a loss before tax and the operating margin rose from 6.6% to 10.2%.
HAFSLUND CELSIO 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
The methods give between 1,989 MNOK and 16,086 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | 1,989 MNOK |
| P/B | 1.0 | 16,086 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 −2.9% (median 16.8%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.0% 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
The operating margin was 10.2% in 2025 (sector median 15.8%), and the equity ratio 69.0%. The company had a loss before tax that year. In the other years the operating margin averaged −0.5%.
The sector's weakest year was 2025, with a median operating margin of 15.8%. 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 | 25 | weight 30% |
|---|---|---|
| Solidity | 98 | weight 25% |
| Liquidity | 78 | weight 15% |
| Growth | 34 | weight 15% |
| Consistency | 13 | weight 15% |
Durability: 47 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is HAFSLUND CELSIO AS?
The operating margin was 10.2% in 2025, against a median of 18.2% among companies in the Morning class Large in the same sector. Return on assets was 1.2%. The company made a loss before tax.
How solid is HAFSLUND CELSIO AS?
The equity ratio was 69.0% in 2025 (median 35.0%). Debt-to-equity was 0.45 (median 1.86).
What is the liquidity of HAFSLUND CELSIO AS like?
The current ratio was 1.40 in 2025 (median 1.04).
How does HAFSLUND CELSIO AS compare in Kraft og energi?
HAFSLUND CELSIO AS ranks 424 of 877 in Kraft og energi for 2025. Among companies in the Morning class Large it is number 27 of 60. Revenue changed by 3.9% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
Read the figures with care: a company in a group can look strong because of group contributions, or weak because dividends go up to the parent. The figures are indications, not the full picture.
We do not show the group structure, because open data does not say who owns whom.
Public contracts
- Contracts awarded since 2024
- 1
- Total awarded value since 2024
- 26.5 MNOK
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 21 May 2026 | SYKEHUSINNKJØP HF | Avhenting, transport og sluttbehandling av medisinsk avfall til Oslo universitetssykehus | 26.5 MNOK |
| 1 October 2020 | Oslo kommune v/ Omsorgsbygg Oslo KF | Trondsheimsveien 235 - Oslo storbylegevakt - anskaffelse - kjøling | value not stated |
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.
- 977296919
- Legal form
- AS · part of a group
- Sector
- Kraft og energi (35.300)
- Morning company class
- Large
- Employees
- 265 registered 10 September 2026
- Founded
- 24 February 1997 29 years in operation
- Share capital
- 229.71 MNOK
- Business address
- Askekroken 11, 0277 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
- Website
- www.celsio.no
- LEI
- 549300SEV7OT8URJL320 renews 2 February 2027
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
- Martin Sleire Lundby
- Chair of the board
- Finn Bjørn Ruyter
- Board member
- Kari Ekelund Thørud
- Board member
- Anna Musiej Aanensen
- Board member
- André Veel
- Board member
- Ida Andersskog
- Board member
- Markus Sebastian Hole
- Board member
- Ulrika Gudrun Maria Jardfelt
- Board member
- Per Erik Langer
- Deputy member
- Erik Nyfelt
- Deputy member
- Jon Vatnaland
- Deputy member
- Erik Botnevik
- Deputy member
- Eirik Folkvord Tandberg
- Deputy member
- Victoria Bugge Lervik
- Deputy member
- Oda Angell Storhaug
- Deputy member
- Ingrid Dolva
- Deputy member
- Rannveig Zahl Urke
- Deputy member
- Agnar Bjarne Thesen
- Deputy member
- Rebecca Anna Lucia Alnesjö
- Auditor
- DELOITTE AS
- Accountant
- ENORA AS
Source: Central Coordinating Register, fetched 31 October 2026. Only names are shown.
- Parent company
- Parent does not consolidate the company
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 October 2026. The parent is the one the company itself reported to GLEIF.
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 31 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 37 | 53 | 51 | |
| Rank | 623 | 379 | 424 | |
| Operating margin | −7.5% | 6.6% | 10.2% | |
| Return on assets | −0.7% | 2.4% | 1.2% | |
| Equity ratio | 71.8% | 72.1% | 69.0% | |
| Current ratio | 0.94 | 1.43 | 1.40 | |
| Revenue growth | – | −11.6% | 3.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 2,643.1 MNOK | 2,336.6 MNOK | 2,427.6 MNOK |
| Operating profit | −198.8 MNOK | 154.1 MNOK | 248.6 MNOK |
| Profit before tax | −489.6 MNOK | 169.4 MNOK | −70.0 MNOK |
| Net profit | −363.6 MNOK | 206.4 MNOK | −56.6 MNOK |
| Financial expenses | 324.1 MNOK | 358.5 MNOK | 360.5 MNOK |
| Total assets | 22,377.9 MNOK | 22,191.1 MNOK | 23,295.7 MNOK |
| Current assets | 980.1 MNOK | 928.7 MNOK | 1,321.2 MNOK |
| Equity | 16,056.3 MNOK | 15,996.8 MNOK | 16,085.6 MNOK |
| Retained earnings | −59.5 MNOK | 316.9 MNOK | 185.5 MNOK |
| Total liabilities | 6,321.6 MNOK | 6,194.3 MNOK | 7,210.1 MNOK |
| Current liabilities | 1,046.3 MNOK | 649.4 MNOK | 943.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 31 October 2026, accounts id 6447553.