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Minel AS

Org. no. 979977123 · Hamar · Founded 1998

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Score · fiscal year 2023

37of 100

How to read this: the company is ahead of 29 % of companies in the Morning class Small in the same sector in 2023. What does this mean?

Rank in the Morning class Small: 3,627 of 5,108 · What are Morning company classes?
Place in the whole sector: 12,759 of 18,347 · Bygg og anlegg

Profile

Elephant · Steward

Lower profitability, high solidity

Position against comparable companies in 2023, not a verdict on the company. Based on profitability 7 and solidity 80 out of 100 among companies in the Morning class Small in the same sector in 2023. Methodology

Against the sector

Minel AS is 14 points below the median for companies in the Morning class Small in the same sector in 2023.

Median score 51 among 5,108 companies.

Against companies in the Morning class Small in the same sector in 2023: operating margin −121.6% (median 5.0%) and equity ratio 54.5% (median 34.1%).

Source: Register of Company Accounts and Central Coordinating RegisterFetched 28 October 2026Report an issue
Key figures · 2023

The numbers behind the score

The numbers behind the score · 2023
MeasureCompanyMedianAhead of
Operating revenue12 MNOK19 MNOK
Operating margin −121.6% 5.0% 0 %
Profit margin −107.4% 4.7% shown, not part of the index
Return on assets −4.4% 11.6% 13 %
Equity ratio 54.5% 34.1% 80 %
Debt-to-equity 0.83 1.80 79 %
Current ratio 0.45 1.46 1 %
Revenue growth – 3.3% not compared

The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2023. The bar shows the share of companies the figure is ahead of.

With an index of 37, Minel AS does better than 29% of companies in the Morning class Small in the same sector (5,108 companies) in 2023.

Over time

Score 2023–2025

CompanyMedian0255075100202320242025
  • Minel AS
  • Median: companies in the Morning class Small in the same sector
Analysis · 2023

What the numbers say

Minel AS had an operating margin of −121.6% and an equity ratio of 54.5% in 2023, and ranks 12,759 of 18,347 in Bygg og anlegg.

This text is generated automatically from the 2023 accounts.

Estimated value · 2023

Three simple methods

One method gives a figure: 108 MNOK.

MethodInputMultipleEstimate
P/E Net profit: −10.6 MNOK 10.0 not meaningful
EV/EBIT Operating profit: −15.1 MNOK 8.0 not meaningful
P/B Equity: 108.3 MNOK 1.0 108 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

Indications · 2023

Worth a closer look

  • critical

    Consider strengthening liquidity: current liabilities are 2.2 times current assets.

    Based on: Current ratio 0.45 (median 1.46).

  • watch

    The company made a loss before tax. Are these one-off items or a pattern?

    Based on: Profit margin −107.4% (median 4.7%).

  • 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 −121.6% (median 5.0%).

Indications based on the latest annual accounts from open data. Not investment or financial advice.

Financial costs were 5.0% of the debt in 2023. The policy rate averaged 3.54 % 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
Stress test · 2021

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

Components · 2023

What the score is made of

Profitability7 weight 30%
Solidity80 weight 25%
Liquidity1 weight 15%
Growth– no data, left out
Consistency60 weight 15%

Index version 2. Data completeness 85%: the share of the weights that had data.

2023

Questions and answers

How profitable is Minel AS?

The operating margin was −121.6% in 2023, against a median of 5.0% among companies in the Morning class Small in the same sector. Return on assets was −4.4%. The company made a loss before tax.

How solid is Minel AS?

The equity ratio was 54.5% in 2023 (median 34.1%). Debt-to-equity was 0.83 (median 1.80).

What is the liquidity of Minel AS like?

The current ratio was 0.45 in 2023 (median 1.46). Current assets did not cover current liabilities.

How does Minel AS compare in Bygg og anlegg?

Minel AS ranks 12,759 of 18,347 in Bygg og anlegg for 2023. Among companies in the Morning class Small it is number 3,627 of 5,108.

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 figures in the group accounts against the company's own accounts
Key figureThe groupThe company alone (2023)
Operating margin0.3% –
Return on assets2.7% –
Equity ratio14.5% –
Current ratio1.05 –
Revenue growth−4.5% –

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

Loading roles …

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.

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Figures last fetched 28 October 2026.

Details

Year by year · 2023–2025

Key figure202320242025Trend
Index373726
Rank12,75914,24917,472
Operating margin−121.6%−54.9%−108.5%
Return on assets−4.4%0.7%4.9%
Equity ratio54.5%50.2%48.9%
Current ratio0.450.450.47
Revenue growth–27.5%−35.7%

Accounts

From the Brønnøysund Register Centre, in the company's reporting currency (NOK).

Key figure202320242025
Operating revenue12.4 MNOK15.8 MNOK10.1 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 expenses4.5 MNOK26.1 MNOK15.2 MNOK
Total assets198.6 MNOK192.9 MNOK189.9 MNOK
Current assets23.4 MNOK28.0 MNOK31.3 MNOK
Equity108.3 MNOK96.8 MNOK92.9 MNOK
Retained earnings68.6 MNOK46.1 MNOK42.2 MNOK
Total liabilities90.3 MNOK96.1 MNOK97.0 MNOK
Current liabilities51.7 MNOK61.6 MNOK66.5 MNOK

Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 5372499.

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