HAVDRØN AS
Score · fiscal year 2025
55of 100
How to read this: the company is ahead of 63 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 180 of 491 · What are Morning company classes?
Place in the whole sector: 854 of 2,232 · Sjømat
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 64 and solidity 53 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
HAVDRØN AS is 6 points above the median for companies in the Morning class Medium in the same sector in 2025.
Median score 49 among 491 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin 30.7% (median 13.4%) and equity ratio 35.6% (median 33.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 179 MNOK | 119 MNOK |
| Operating margin | 30.7% | 13.4% |
| Profit margin | 21.5% | 8.2% |
| Return on assets | 9.1% | 9.2% |
| Equity ratio | 35.6% | 33.1% |
| Debt-to-equity | 1.81 | 1.99 |
| Current ratio | 3.46 | 1.68 |
| Revenue growth | −13.4% | 10.6% |
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 55, HAVDRØN AS does better than 63% of companies in the Morning class Medium in the same sector (491 companies) in 2025.
Score 2023–2025
- HAVDRØN AS
- Median: companies in the Morning class Medium in the same sector
HAVDRØN AS has a score of 55 for 2025, rank 854 of 2,232 in the sector.
Strongest: Liquidity: percentile 83 against peers, current ratio 3.46 against a median of 1.68. Profitability: percentile 64 against peers, operating margin 30.7% against a median of 13.4%.
Weakest: Growth: percentile 12 against peers, revenue growth −13.4% against a median of 10.6%.
Worth a closer look
- 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
HAVDRØN AS had an operating margin of 30.7% and an equity ratio of 35.6% in 2025, and ranks 854 of 2,232 in Sjømat.
From 2024 to 2025: the operating margin fell from 53.4% to 30.7% and revenue fell by 13%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 183 MNOK and 299 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 299 MNOK |
| EV/EBIT | 8.0 | 183 MNOK |
| P/B | 1.0 | 234 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
No rules were triggered for this year.
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
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 −0.5%. 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 | 64 | weight 30% |
|---|---|---|
| Solidity | 53 | weight 25% |
| Liquidity | 83 | weight 15% |
| Growth | 12 | weight 15% |
| Consistency | 53 | weight 15% |
Durability: 62 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is HAVDRØN AS?
The operating margin was 30.7% in 2025, against a median of 13.4% among companies in the Morning class Medium in the same sector. Return on assets was 9.1%.
How solid is HAVDRØN AS?
The equity ratio was 35.6% in 2025 (median 33.1%). Debt-to-equity was 1.81 (median 1.99).
What is the liquidity of HAVDRØN AS like?
The current ratio was 3.46 in 2025 (median 1.68).
How does HAVDRØN AS compare in Sjømat?
HAVDRØN AS ranks 854 of 2,232 in Sjømat for 2025. Among companies in the Morning class Medium it is number 180 of 491. Revenue changed by −13.4% from the year before.
From the Central Coordinating Register
- Org. no.
- 982165504
- Legal form
- AS
- Sector
- Sjømat (03.110)
- Morning company class
- Medium
- Employees
- 0–4 (not registered)
- Founded
- 29 June 2000 26 years in operation
- Share capital
- 0.80 MNOK
- Business address
- Hjellestadvegen 343, 5259 HJELLESTAD (BERGEN)
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- LEI
- 549300NJ32PZP2S9DU04 renews 21 November 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
- Kristian Sandtorv
- Chair of the board
- Kristian Sandtorv
- Board member
- Bjarte Sandtorv
- Deputy member
- Fredrik Mørk Sandtorv
- Auditor
- FORVIS MAZARS AS
- Accountant
- KOMPASSO AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- Parent not reported
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 28 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 64 | 68 | 55 | |
| Rank | 558 | 338 | 854 | |
| Operating margin | 34.3% | 53.4% | 30.7% | |
| Return on assets | 14.4% | 17.1% | 9.1% | |
| Equity ratio | 36.8% | 31.1% | 35.6% | |
| Current ratio | 1.40 | 2.59 | 3.46 | |
| Revenue growth | – | 45.8% | −13.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 141.5 MNOK | 206.2 MNOK | 178.6 MNOK |
| Operating profit | 48.6 MNOK | 110.2 MNOK | 54.8 MNOK |
| Profit before tax | 41.1 MNOK | 107.5 MNOK | 38.4 MNOK |
| Net profit | 32.0 MNOK | 83.7 MNOK | 29.9 MNOK |
| Financial expenses | 9.6 MNOK | 7.9 MNOK | 21.2 MNOK |
| Total assets | 351.9 MNOK | 674.9 MNOK | 656.9 MNOK |
| Current assets | 56.3 MNOK | 81.5 MNOK | 137.9 MNOK |
| Equity | 129.3 MNOK | 210.1 MNOK | 234.0 MNOK |
| Retained earnings | 128.5 MNOK | 209.3 MNOK | 233.2 MNOK |
| Total liabilities | 222.6 MNOK | 464.8 MNOK | 422.9 MNOK |
| Current liabilities | 40.1 MNOK | 31.5 MNOK | 39.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 6887830.
Further
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