Elementsør AS
Score · fiscal year 2025
20of 100
How to read this: the company is ahead of 7 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 1,227 of 1,320 · What are Morning company classes?
Place in the whole sector: 4,132 of 4,464 · Industri
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 13 and solidity 9 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
Elementsør AS is 31 points below the median for companies in the Morning class Medium in the same sector in 2025.
Median score 51 among 1,320 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin −3.7% (median 4.9%) and equity ratio 12.2% (median 39.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 100 MNOK | 116 MNOK |
| Operating margin | −3.7% | 4.9% |
| Profit margin | −3.5% | 4.8% |
| Return on assets | −5.0% | 10.4% |
| Equity ratio | 12.2% | 39.3% |
| Debt-to-equity | 7.18 | 1.50 |
| Current ratio | 0.95 | 1.55 |
| Revenue growth | 9.7% | 7.0% |
| Revenue per employee | 1.57 MNOK | 2.92 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 20, Elementsør AS does better than 7% of companies in the Morning class Medium in the same sector (1,320 companies) in 2025.
Score 2023–2025
- Elementsør AS
- Median: companies in the Morning class Medium in the same sector
Elementsør AS has a score of 20 for 2025, rank 4,132 of 4,464 in the sector.
Strongest: Growth: percentile 57 against peers, revenue growth 9.7% against a median of 7.0%.
Weakest: Solidity: percentile 9 against peers, equity ratio 12.2% against a median of 39.3%. Profitability: percentile 13 against peers, operating margin −3.7% against a median of 4.9%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 1.1 times current assets. Based on: current ratio 0.95 (median 1.55).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −3.5% (median 4.8%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −3.7% (median 4.9%).
- What lies behind weak solidity, 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
The industry or the company: what drove the result?
In 2025 the operating margin of Elementsør AS fell by 4.7 percentage points. Comparable companies fell by a median 0.5 points. So the company did 4.2 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Elementsør AS moved the same way as comparable companies 1 times. About 6% of the changes in operating margin were common to the industry; the rest was the company's own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2024 | 1.0% | 5.4% | −5.7 percentage points | +0.1 percentage points | −5.8 percentage points |
| 2025 | −3.7% | 4.9% | −4.7 percentage points | −0.5 percentage points | −4.2 percentage points |
Comparable companies are those in the same industry and Morning company class. Their change shows what hit the whole industry, the sector drivers below included. The rest is the company's own: contracts, costs, one-off items or operations. The share is approximate, and we claim no cause.
The company and its sector's drivers
Prices, rate and currency that shape the sector's year, year by year beside the operating margin of Elementsør AS. The figures stand side by side; we claim no cause.
Producer prices in manufacturing (indeks (2021 = 100))
Producer prices in manufacturing rose 2.9% in 2025; the operating margin of Elementsør AS fell 4.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Producer prices in manufacturing, annual average | 100.0 | 124.7 | 129.5 | 134.4 | 138.3 | 146.0 (so far) |
| Change from the year before | +10.7% | +24.7% | +3.9% | +3.7% | +2.9% | +5.6% |
| The company's operating margin | – | – | 6.7% | 1.0% | −3.7% | – |
Source: SSB (12462, CC BY 4.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Elementsør AS fell 4.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| EUR/NOK, annual average | 10.16 | 10.10 | 11.42 | 11.62 | 11.72 | 11.04 (so far) |
| Change from the year before | −5.2% | −0.6% | +13.1% | +1.8% | +0.8% | −5.8% |
| The company's operating margin | – | – | 6.7% | 1.0% | −3.7% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Wholesale power price (øre per kWh)
Wholesale power price rose 9.4% in 2025; the operating margin of Elementsør AS fell 4.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wholesale power price, annual average | 64.2 | 141.7 | 72.0 | 49.4 | 54.0 | 96.5 (so far) |
| Change from the year before | +466.7% | +120.8% | −49.2% | −31.4% | +9.4% | +78.4% |
| The company's operating margin | – | – | 6.7% | 1.0% | −3.7% | – |
Source: SSB (09363, CC BY 4.0). Source
USD/NOK (kr)
USD/NOK fell 3.3% in 2025; the operating margin of Elementsør AS fell 4.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| USD/NOK, annual average | 8.59 | 9.61 | 10.56 | 10.75 | 10.39 | 9.54 (so far) |
| Change from the year before | −8.8% | +11.9% | +9.9% | +1.7% | −3.3% | −8.2% |
| The company's operating margin | – | – | 6.7% | 1.0% | −3.7% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Wage index: fabricated metal products (indeks)
Wage index: fabricated metal products rose 5.8% in 2025; the operating margin of Elementsør AS fell 4.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: fabricated metal products, annual average | 88.0 | 91.5 | 96.9 | 102.1 | 108.0 | 112.8 (so far) |
| Change from the year before | +3.1% | +3.9% | +6.0% | +5.4% | +5.8% | +4.5% |
| The company's operating margin | – | – | 6.7% | 1.0% | −3.7% | – |
Source: SSB (12314, CC BY 4.0). Source
We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.
What the numbers say
Elementsør AS had an operating margin of −3.7% and an equity ratio of 12.2% in 2025, and ranks 4,132 of 4,464 in Industri.
From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from 1.0% to −3.7%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 10 MNOK and 15 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 22.2 | 15 MNOK |
| EV/EBIT | 18.6 | 11 MNOK |
| P/B | 3.0 | 10 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
Consider strengthening liquidity: current liabilities are 1.1 times current assets.
Based on: Current ratio 0.95 (median 1.55).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −3.5% (median 4.8%).
- 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 −3.7% (median 4.9%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.3% 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 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 0.2%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 13 | weight 30% |
|---|---|---|
| Solidity | 9 | weight 25% |
| Liquidity | 13 | weight 15% |
| Growth | 57 | weight 15% |
| Consistency | 22 | weight 15% |
Durability: 25 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Elementsør AS?
The operating margin was −3.7% in 2025, against a median of 4.9% among companies in the Morning class Medium in the same sector. Return on assets was −5.0%. The company made a loss before tax.
How solid is Elementsør AS?
The equity ratio was 12.2% in 2025 (median 39.3%). Debt-to-equity was 7.18 (median 1.50).
What is the liquidity of Elementsør AS like?
The current ratio was 0.95 in 2025 (median 1.55). Current assets did not cover current liabilities.
How does Elementsør AS compare in Industri?
Elementsør AS ranks 4,132 of 4,464 in Industri for 2025. Among companies in the Morning class Medium it is number 1,227 of 1,320. Revenue changed by 9.7% from the year before.
Group structure · 2025
28 companies in the group according to the shareholder register for 2025. A company counts as a subsidiary when a Norwegian company owns more than half of its shares.
Private persons own 100% of the shares in Tom Arne Aamodt AS. Persons are not shown by name.
Tom Arne Aamodt AS has not filed group accounts in open data, so the group has no index of its own. Each company has its own accounts.
The group in figures
- Sectors
- Bygg og anlegg (2 companies), Industri (1 company), Eiendom (2 companies), Handel (3 companies), Overnatting og servering (1 company), Kraft og energi (1 company) 10 of 28 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Employees in Norway
- 271 in all. Kristiansand 271 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Negative equity
- 2 companies: Babybanden AS, Billy Søgne AS
- Loss
- 6 companies: Elementsør AS, Babybanden AS, Tangvall Sportsbar AS, Billy Søgne AS, UP Søgne AS, Vaglen Båthavn AS
- Changed 2024–2025
- 5 companies joined the group, among them: Babybanden AS, Sentrumsheia AS, Tangvall Sportsbar AS, Billy Søgne AS. 7 companies left, among them: Csv Eiendom Tangen Torv AS, Tangen Torv Næring 2 AS.
A subsidiary with negative equity or a loss may be backed by the group, for example with group contributions or guarantees. It is an indication of what is worth asking about, not an assessment.
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.
Source: the Norwegian Tax Administration's shareholder register 2025 (majority owner with more than 50 % of the shares). Voting agreements and ownership through other countries are not included.
From the Central Coordinating Register
- Org. no.
- 979932715
- Legal form
- AS
- Sector
- Industri (23.610)
- Morning company class
- Medium
- Employees
- 64 registered 10 September 2026
- Founded
- 1 June 1998 28 years in operation
- Share capital
- 3.00 MNOK
- Business address
- Østre Lone lier 5, 4642 SØGNE (KRISTIANSAND)
- Municipality
- Kristiansand rank 2–6 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- Website
- www.elementsor.no
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.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Mur i Sør Utvikling AS (100%)
Ultimate owner: private person
- Mur i Sør Utvikling AS · 100.0%
Change 2007–2025:
100% of the shares changed owner (1 new and 3 departed owners). The majority owner changed.
New owners (companies): Mur i Sør Utvikling AS
Departed (companies): STIFTELSEN ELLEL MINISTRIES NORGE
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 2 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 32 | 23 | 20 | |
| Rank | 3,266 | 3,966 | 4,132 | |
| Operating margin | 6.7% | 1.0% | −3.7% | |
| Return on assets | 11.5% | 4.2% | −5.0% | |
| Equity ratio | 21.5% | 22.1% | 12.2% | |
| Current ratio | 0.96 | 1.09 | 0.95 | |
| Revenue growth | – | −22.7% | 9.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 118.4 MNOK | 91.5 MNOK | 100.3 MNOK |
| Operating profit | 7.9 MNOK | 0.9 MNOK | −3.7 MNOK |
| Profit before tax | 7.7 MNOK | 1.0 MNOK | −3.5 MNOK |
| Tax expense | 1.7 MNOK | 0.2 MNOK | −0.8 MNOK |
| Net profit | 6.0 MNOK | 0.8 MNOK | −2.7 MNOK |
| Financial expenses | 0.8 MNOK | 0.8 MNOK | 0.6 MNOK |
| Total assets | 73.9 MNOK | 44.0 MNOK | 57.7 MNOK |
| Current assets | 38.5 MNOK | 22.4 MNOK | 37.8 MNOK |
| Equity | 15.9 MNOK | 9.7 MNOK | 7.1 MNOK |
| Retained earnings | 9.6 MNOK | 3.4 MNOK | 0.7 MNOK |
| Total liabilities | 58.0 MNOK | 34.3 MNOK | 50.7 MNOK |
| Current liabilities | 40.2 MNOK | 20.5 MNOK | 39.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 2 November 2026, accounts id 6521869.
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