COD-EXPORT AS
Score · fiscal year 2025
31of 100
How to read this: the company is ahead of 12 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 474 of 541 · What are Morning company classes?
Place in the whole sector: 18,632 of 23,059 · Handel
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 29 and solidity 26 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
COD-EXPORT AS is 19 points below the median for companies in the Morning class Large in the same sector in 2025.
Median score 50 among 541 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin 1.4% (median 2.5%) and equity ratio 18.2% (median 30.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 604 MNOK | 1,119 MNOK |
| Operating margin | 1.4% | 2.5% |
| Profit margin | 0.4% | 2.5% |
| Return on assets | 5.0% | 10.2% |
| Equity ratio | 18.2% | 30.9% |
| Debt-to-equity | 4.49 | 2.23 |
| Current ratio | 1.22 | 1.30 |
| Revenue growth | −8.3% | 6.9% |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 31, COD-EXPORT AS does better than 12% of companies in the Morning class Large in the same sector (541 companies) in 2025.
Score 2023–2025
- COD-EXPORT AS
- Median: companies in the Morning class Large in the same sector
COD-EXPORT AS has a score of 31 for 2025, rank 18,632 of 23,059 in the sector.
Strongest: Consistency: percentile 54 against peers.
Weakest: Growth: percentile 11 against peers, revenue growth −8.3% against a median of 6.9%. Solidity: percentile 26 against peers, equity ratio 18.2% against a median of 30.9%.
Worth a closer look
- What lies behind weak growth, and will it last?
- 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
What the numbers say
COD-EXPORT AS had an operating margin of 1.4% and an equity ratio of 18.2% in 2025, and ranks 18,632 of 23,059 in Handel.
No large changes in the key figures from 2024 to 2025.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 18 MNOK and 69 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 18 MNOK |
| EV/EBIT | 8.0 | 69 MNOK |
| P/B | 1.0 | 34 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 4.4% 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 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 | 29 | weight 30% |
|---|---|---|
| Solidity | 26 | weight 25% |
| Liquidity | 41 | weight 15% |
| Growth | 11 | weight 15% |
| Consistency | 54 | weight 15% |
Durability: 40 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is COD-EXPORT AS?
The operating margin was 1.4% in 2025, against a median of 2.5% among companies in the Morning class Large in the same sector. Return on assets was 5.0%.
How solid is COD-EXPORT AS?
The equity ratio was 18.2% in 2025 (median 30.9%). Debt-to-equity was 4.49 (median 2.23).
What is the liquidity of COD-EXPORT AS like?
The current ratio was 1.22 in 2025 (median 1.30).
How does COD-EXPORT AS compare in Handel?
COD-EXPORT AS ranks 18,632 of 23,059 in Handel for 2025. Among companies in the Morning class Large it is number 474 of 541. Revenue changed by −8.3% from the year before.
From the Central Coordinating Register
- Org. no.
- 984265700
- Legal form
- AS
- Sector
- Handel (46.322)
- Morning company class
- Large
- Employees
- 0–4 (not registered)
- Founded
- 28 December 2001 24 years in operation
- Share capital
- 3.00 MNOK
- Business address
- Keiser Wilhelms gate 24-26, 6003 ÅLESUND
- Municipality
- Ålesund rank 2–6 of 10 in KOSTRA group 11
- Latest accounts filed
- 2025
- Website
- www.bacalhau.no
- LEI
- 549300HYOJQ4W00SEY83 renews 17 September 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
- Geir Molværsmyr
- Chair of the board
- Ole-Reinhart Pettersen Notø
- Board member
- Tor Helge Valderhaug
- Board member
- Christin Pedersen
- Auditor
- I TIDE REVISJON AS
- Accountant
- HASUND AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- TEVAL INVEST AS (Norway)
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 29 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 | 42 | 46 | 31 | |
| Rank | 13,055 | 12,892 | 18,632 | |
| Operating margin | 1.1% | 1.7% | 1.4% | |
| Return on assets | 10.3% | 9.8% | 5.0% | |
| Equity ratio | 21.5% | 21.6% | 18.2% | |
| Current ratio | 1.27 | 1.27 | 1.22 | |
| Revenue growth | – | 6.6% | −8.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 618.1 MNOK | 658.6 MNOK | 604.1 MNOK |
| Operating profit | 6.8 MNOK | 11.4 MNOK | 8.5 MNOK |
| Profit before tax | 6.0 MNOK | 8.5 MNOK | 2.5 MNOK |
| Net profit | 4.6 MNOK | 6.6 MNOK | 1.8 MNOK |
| Financial expenses | 7.9 MNOK | 5.9 MNOK | 6.7 MNOK |
| Total assets | 134.5 MNOK | 147.8 MNOK | 185.5 MNOK |
| Current assets | 134.3 MNOK | 146.7 MNOK | 185.0 MNOK |
| Equity | 28.9 MNOK | 32.0 MNOK | 33.8 MNOK |
| Retained earnings | 25.8 MNOK | 29.0 MNOK | 30.8 MNOK |
| Total liabilities | 105.7 MNOK | 115.9 MNOK | 151.8 MNOK |
| Current liabilities | 105.6 MNOK | 115.9 MNOK | 151.8 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 7110093.
Further
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