THRACE POLYBULK AS
Score · fiscal year 2024
78of 100
How to read this: the company is ahead of 95 % of companies in the Morning class Medium in the same sector in 2024. What does this mean?
Rank in the Morning class Medium: 190 of 3,520 · What are Morning company classes?
Place in the whole sector: 1,159 of 22,346 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 81 and solidity 84 out of 100 among companies in the Morning class Medium in the same sector in 2024. Methodology
Against the sector
THRACE POLYBULK AS is 28 points above the median for companies in the Morning class Medium in the same sector in 2024.
Median score 50 among 3,520 companies.
Against companies in the Morning class Medium in the same sector in 2024: operating margin 13.3% (median 2.9%) and equity ratio 57.4% (median 30.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 165 MNOK | 92 MNOK |
| Operating margin | 13.3% | 2.9% |
| Profit margin | 13.1% | 2.7% |
| Return on assets | 18.3% | 11.8% |
| Equity ratio | 57.4% | 30.2% |
| Debt-to-equity | 0.74 | 2.23 |
| Current ratio | 2.24 | 1.40 |
| Revenue growth | 17.8% | 5.1% |
| Revenue per employee | 15.03 MNOK | 4.92 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 78, THRACE POLYBULK AS does better than 95% of companies in the Morning class Medium in the same sector (3,520 companies) in 2024.
Score 2023–2025
- THRACE POLYBULK AS
- Median: companies in the Morning class Medium in the same sector
What the numbers say
THRACE POLYBULK AS had an operating margin of 13.3% and an equity ratio of 57.4% in 2024, and ranks 1,159 of 22,346 in Handel.
From 2023 to 2024: revenue grew by 18%.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 69 MNOK and 177 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 169 MNOK |
| EV/EBIT | 8.0 | 177 MNOK |
| P/B | 1.0 | 69 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
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 13.3% (median 2.9%); Equity ratio 57.4% (median 30.2%); Current ratio 2.24 (median 1.40).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.6% of the debt in 2024. The policy rate averaged 4.50 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
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 1.5%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 81 | weight 30% |
|---|---|---|
| Solidity | 84 | weight 25% |
| Liquidity | 80 | weight 15% |
| Growth | 80 | weight 15% |
| Consistency | 62 | weight 15% |
Durability: 82 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is THRACE POLYBULK AS?
The operating margin was 13.3% in 2024, against a median of 2.9% among companies in the Morning class Medium in the same sector. Return on assets was 18.3%.
How solid is THRACE POLYBULK AS?
The equity ratio was 57.4% in 2024 (median 30.2%). Debt-to-equity was 0.74 (median 2.23).
What is the liquidity of THRACE POLYBULK AS like?
The current ratio was 2.24 in 2024 (median 1.40).
How does THRACE POLYBULK AS compare in Handel?
THRACE POLYBULK AS ranks 1,159 of 22,346 in Handel for 2024. Among companies in the Morning class Medium it is number 190 of 3,520. Revenue changed by 17.8% from the year before.
From the Central Coordinating Register
- Org. no.
- 983435963
- Legal form
- AS
- Sector
- Handel (46.860)
- Morning company class
- Medium
- Employees
- 11 registered 10 December 2025
- Founded
- 22 May 2001 25 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Strømtangvegen 15A, 3950 BREVIK (PORSGRUNN)
- Municipality
- Porsgrunn rank 5–12 of 13 in KOSTRA group 10
- Latest accounts filed
- 2025
- LEI
- 636700IE1IDFRM9ANV92 renews 16 May 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
- Ståle Horntvedt
- Chair of the board
- Dimitrios Malamos
- Board member
- Ståle Horntvedt
- Auditor
- ERNST & YOUNG 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 31 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 29 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 86 | 78 | 74 | |
| Rank | 904 | 1,159 | 2,003 | |
| Operating margin | 14.7% | 13.3% | 12.8% | |
| Return on assets | 23.3% | 18.3% | 22.2% | |
| Equity ratio | 58.5% | 57.4% | 53.2% | |
| Current ratio | 2.26 | 2.24 | 2.02 | |
| Revenue growth | – | 17.8% | 8.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 140.3 MNOK | 165.3 MNOK | 178.8 MNOK |
| Operating profit | 20.6 MNOK | 22.0 MNOK | 22.8 MNOK |
| Profit before tax | 20.7 MNOK | 21.7 MNOK | 21.5 MNOK |
| Net profit | 16.2 MNOK | 16.9 MNOK | 16.7 MNOK |
| Financial expenses | – | 0.3 MNOK | 1.4 MNOK |
| Total assets | 89.1 MNOK | 120.2 MNOK | 102.8 MNOK |
| Current assets | 77.8 MNOK | 109.5 MNOK | 93.1 MNOK |
| Equity | 52.1 MNOK | 69.0 MNOK | 54.7 MNOK |
| Retained earnings | 52.0 MNOK | 68.9 MNOK | 54.6 MNOK |
| Total liabilities | 37.0 MNOK | 51.2 MNOK | 48.1 MNOK |
| Current liabilities | 34.4 MNOK | 48.8 MNOK | 46.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 6177811.
Further
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