MINEL AS
Score · fiscal year 2025
26of 100
How to read this: the company is ahead of 12 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 4,888 of 5,567 · What are Morning company classes?
Place in the whole sector: 17,558 of 20,428 · Bygg og anlegg
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 16 and solidity 70 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
MINEL AS is 25 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 5,567 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin −108.5% (median 4.5%) and equity ratio 48.9% (median 34.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 10 MNOK | 19 MNOK |
| Operating margin | −108.5% | 4.5% |
| Profit margin | −57.0% | 4.3% |
| Return on assets | 4.9% | 11.0% |
| Equity ratio | 48.9% | 34.2% |
| Debt-to-equity | 1.04 | 1.72 |
| Current ratio | 0.47 | 1.48 |
| Revenue growth | −35.7% | 6.0% |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 26, MINEL AS does better than 12% of companies in the Morning class Small in the same sector (5,567 companies) in 2025.
Score 2023–2025
- MINEL AS
- Median: companies in the Morning class Small in the same sector
MINEL AS has a score of 26 for 2025, rank 17,558 of 20,428 in the sector.
Strongest: Solidity: percentile 70 against peers, equity ratio 48.9% against a median of 34.2%.
Weakest: Liquidity: percentile 2 against peers, current ratio 0.47 against a median of 1.48. Growth: percentile 3 against peers, revenue growth −35.7% against a median of 6.0%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 2.1 times current assets. Based on: current ratio 0.47 (median 1.48).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −57.0% (median 4.3%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −108.5% (median 4.5%).
- What lies behind weak growth, 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
MINEL AS had an operating margin of −108.5% and an equity ratio of 48.9% in 2025, and ranks 17,558 of 20,428 in Bygg og anlegg.
From 2024 to 2025: the operating margin fell from −54.9% to −108.5% and revenue fell by 36%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 93 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 93 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
- critical
Consider strengthening liquidity: current liabilities are 2.1 times current assets.
Based on: Current ratio 0.47 (median 1.48).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −57.0% (median 4.3%).
- 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 −108.5% (median 4.5%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 15.6% 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
- watch Extreme margin: check 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 1.8%. 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 | 16 | weight 30% |
|---|---|---|
| Solidity | 70 | weight 25% |
| Liquidity | 2 | weight 15% |
| Growth | 3 | weight 15% |
| Consistency | 18 | weight 15% |
Durability: 33 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is MINEL AS?
The operating margin was −108.5% in 2025, against a median of 4.5% among companies in the Morning class Small in the same sector. Return on assets was 4.9%. The company made a loss before tax.
How solid is MINEL AS?
The equity ratio was 48.9% in 2025 (median 34.2%). Debt-to-equity was 1.04 (median 1.72).
What is the liquidity of MINEL AS like?
The current ratio was 0.47 in 2025 (median 1.48). Current assets did not cover current liabilities.
How does MINEL AS compare in Bygg og anlegg?
MINEL AS ranks 17,558 of 20,428 in Bygg og anlegg for 2025. Among companies in the Morning class Small it is number 4,888 of 5,567. Revenue changed by −35.7% from the year before.
Group accounts · 2025
19 of 100
Rank 119 of 126 groups in the Morning class Large in Bygg og anlegg. Groups are ranked only against other groups in the same sector and class, never against single companies.
- Operating revenue, group
- 544 MNOK
- Operating profit, group
- 1 MNOK
- Profit before tax, group
- −1 MNOK
- Total assets, group
- 192 MNOK
- Equity, group
- 28 MNOK
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | 0.3% | −108.5% |
| Return on assets | 2.7% | 4.9% |
| Equity ratio | 14.5% | 48.9% |
| Current ratio | 1.05 | 0.47 |
| Revenue growth | −4.5% | −35.7% |
Group index in earlier years: 2023: 23 (106 of 116), 2024: 13 (118 of 121).
Same formulas and weights as the company index. Group and company are never added together, and the group accounts are not part of sector averages or company rankings.
Source: Brønnøysund Register Centre, group accounts 2025 (open data, NLOD 2.0).
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.
From the Central Coordinating Register
- Org. no.
- 979977123
- Legal form
- AS · part of a group
- Sector
- Bygg og anlegg (43.210)
- Morning company class
- Small
- Employees
- 0–4 (not registered)
- Founded
- 17 June 1998 28 years in operation
- Share capital
- 45.63 MNOK
- Business address
- Torggata 83, 2317 HAMAR
- Municipality
- Hamar rank 1–5 of 13 in KOSTRA group 10
- Latest accounts filed
- 2025
- Website
- minel.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
- Chief executive
- Atle Jensen
- Chair of the board
- Tore Thallaug
- Board member
- Thomas Røste
- Board member
- Øyvind Sæthersmoen
- Board member
- Gudbrand Granaasen Olimb
- Auditor
- FLYT REVISJON AS
- Accountant
- ADMENTO AS
Source: Central Coordinating Register, fetched 29 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 28 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 37 | 37 | 26 | |
| Rank | 12,802 | 14,314 | 17,558 | |
| Operating margin | −121.6% | −54.9% | −108.5% | |
| Return on assets | −4.4% | 0.7% | 4.9% | |
| Equity ratio | 54.5% | 50.2% | 48.9% | |
| Current ratio | 0.45 | 0.45 | 0.47 | |
| Revenue growth | – | 27.5% | −35.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 12.4 MNOK | 15.8 MNOK | 10.1 MNOK |
| Operating profit | −15.1 MNOK | −8.7 MNOK | −11.0 MNOK |
| Profit before tax | −13.3 MNOK | −24.6 MNOK | −5.8 MNOK |
| Net profit | −10.6 MNOK | −22.5 MNOK | −3.8 MNOK |
| Financial expenses | 4.5 MNOK | 26.1 MNOK | 15.2 MNOK |
| Total assets | 198.6 MNOK | 192.9 MNOK | 189.9 MNOK |
| Current assets | 23.4 MNOK | 28.0 MNOK | 31.3 MNOK |
| Equity | 108.3 MNOK | 96.8 MNOK | 92.9 MNOK |
| Retained earnings | 68.6 MNOK | 46.1 MNOK | 42.2 MNOK |
| Total liabilities | 90.3 MNOK | 96.1 MNOK | 97.0 MNOK |
| Current liabilities | 51.7 MNOK | 61.6 MNOK | 66.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 6683694.
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