Epp AS
Not financial advice. The index, rank, signals and advice are rule-based indications from the latest filed annual accounts. They are not a credit rating, an assessment of management or a recommendation to buy, sell or do business with the company. Read more
Score · fiscal year 2024
57of 100
How to read this: the company is ahead of 65 % of companies in the Morning class Micro in the same sector in 2024. What does this mean?
Rank in the Morning class Micro: 7,947 of 22,752 · What are Morning company classes?
Place in the whole sector: 9,960 of 28,612 · Eiendom
Profile
Cheetah · Sprinter
High profitability, lower resilience
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 76 and resilience 23 out of 100 among companies in the Morning class Micro in the same sector in 2024. Methodology
Against the sector
Epp AS is 7 points above the median for companies in the Morning class Micro in the same sector in 2024.
Median score 50 among 22,749 companies.
Against companies in the Morning class Micro in the same sector in 2024: operating margin 68.8% (median 46.9%) and equity ratio −41.1% (median 27.4%).
How it has gone · 2023–2025
Revenue is about the same: 0.9 MNOK in 2025 against 0.9 MNOK in 2023. The operating margin fell from 63.1% in 2023 to 55.2% in 2025. The equity ratio rose from −46.9% in 2023 to −39.9% in 2025.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Worth a closer look
- critical
Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern?
Based on: Equity ratio −41.1% (median 27.4%).
- watch
Receivables equal far more days of revenue than at comparable companies. Do customers pay late, or are these loans to companies in the same group?
Based on: Receivable days 169 days (median 44 days).
- watch
The operating result covers the financial costs less than one and a half times. How much higher interest or a weaker year can the company take?
Based on: Interest coverage (times) 1.4 (median 1.6); Financial costs as a share of debt 6.8% (median 5.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 6.8% 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.
See interest rates, prices and exchange rates for the sector
Data quality
- critical Negative equity
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 15.2%. 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 | 76 | weight 40% |
|---|---|---|
| Solidity | 0 | weight 20% |
| Liquidity | 86 | weight 5% |
| Growth | 73 | weight 25% |
| Consistency | 38 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Index version 3. Data completeness 100%: the share of the weights that had data.
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 2 MNOK |
| Operating margin | 68.8% | 46.9% |
| Profit margin | 20.9% | 21.7% |
| Return on assets | 13.6% | 7.5% |
| Equity ratio | −41.1% | 27.4% |
| Debt-to-equity | – | 2.14 |
| Current ratio | 7.78 | 1.37 |
| Revenue growth | 27.7% | 4.9% |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 57, Epp AS does better than 65% of companies in the Morning class Micro in the same sector (22,752 companies) in 2024.
Score over time
Score over time needs at least two fiscal years with a score. It will appear when next year's figures are fetched or history is imported.
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
169 days | 44 days | |
| Inventory and other current assets, days Current assets other than receivables and bank deposits, that is inventory and short-term investments, in days of revenue. |
0 days | 0 days | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
34.5% | −12.9% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
49.4% | 53.5% | |
| Debt and interest burden | |||
| Interest coverage (times) Operating result divided by all financial costs. Below 1: operations do not cover the cost of the debt. |
1.4 | 1.6 | |
| Financial costs as a share of debt All financial costs (interest, currency losses and other) divided by all debt, interest-free debt included. Not an interest rate. |
6.8% | 5.2% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
98.4% | 83.2% | |
Net working capital (current assets less bank deposits less current liabilities): 0.4 MNOK.
Of the financial costs of 0.6 MNOK, 0.4 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the Morning class Micro in the same sector in 2024. The bar shows the share of the group with a lower figure: higher is not always better, long receivable days tie up capital, for example. These figures do not count in the score.
What the numbers say
Epp AS had an operating margin of 68.8% and an equity ratio of −41.1% in 2024, and ranks 9,960 of 28,612 in Eiendom.
From 2023 to 2024: went from a loss to a profit before tax and the operating margin rose from 63.1% to 68.8%.
This text is generated automatically from the 2024 accounts.
Three simple methods
One method gives a figure: 0 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | not meaningful |
| EV/EBIT | 19.2 | 0 MNOK |
| P/B | 0.7 | not meaningful |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 13 MNOK |
| Enterprise value after the size adjustment | 8 MNOK |
| Less net debt (rough figure) | 8 MNOK |
| Equity value | 0 MNOK |
Net debt is a rough figure: long-term liabilities minus cash. The accounts do not split interest-bearing debt from other liabilities, and short-term borrowings are not included. The size adjustment applies to the enterprise value, not to the debt. Net debt is 96% of the enterprise value after the size adjustment, so the equity value from EV/EBIT is sensitive to errors in the debt figure.
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 4% on the cost of equity gives a value 38% lower. No separate marketability discount is applied, because the premium already allows for the company being small and unlisted.
The multiples are from the listed industry that matches the NACE code (68.2): R.E.I.T..
Not financial advice. The value range is a rough model estimate from listed-company multiples, not a valuation, a price target or a price offer. The actual value may differ greatly. Read more
A mechanical estimate from public accounts, not advice. A mechanical estimate from public accounts with listed multiples and fixed adjustments. Not a valuation and not advice to buy or sell. See the calculation
Questions and answers
How profitable is Epp AS?
The operating margin was 68.8% in 2024, against a median of 46.9% among companies in the Morning class Micro in the same sector. Return on assets was 13.6%.
How solid is Epp AS?
The equity ratio was −41.1% in 2024 (median 27.4%). Equity is negative, so liabilities exceed assets.
What is the liquidity of Epp AS like?
The current ratio was 7.78 in 2024 (median 1.37).
How does Epp AS compare in Eiendom?
Epp AS ranks 9,960 of 28,612 in Eiendom for 2024. Among companies in the Morning class Micro it is number 7,947 of 22,752. Revenue changed by 27.7% from the year before.
Group structure · 2025
17 companies in the group according to the shareholder register for 2025. A company counts as a subsidiary when a Norwegian company owns more than half of its shares.
Private persons own 100% of the shares in Pmg Holding AS. Persons are not shown by name.
Pmg Holding AS has not filed group accounts in open data, so the group has no index of its own. Each company has its own accounts.
The group in figures
- Sectors
- Forretningsmessig tjenesteyting (5 companies), Eiendom (7 companies), Handel (1 company), Bygg og anlegg (1 company), Revisjon, regnskap og rådgivning (1 company), Informasjon og kommunikasjon (1 company) and 1 more 17 of 17 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Employees in Norway
- 22 in all. Narvik 22 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Negative equity
- 6 companies: Storgata 34 Bodø AS, Epp AS, Bodø Boligbygg Prosjekt AS, Holvaag AS, Pmg Eiendom AS, H7 Prosjekt AS
- Loss
- 11 companies: Norms AS, Storgata 34 Bodø AS, Havnegata 3 AS, Fjellstua Utvikling AS, Bodø Boligbygg Prosjekt AS, Auar AS …
- Changed 2024–2025
- 3 companies joined the group: Auar AS, Norms AS, Norms Shipholding AS. 1 company left.
A subsidiary with negative equity or a loss may be backed by the group, for example with group contributions or guarantees. It is an indication of what is worth asking about, not an assessment.
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.
Source: the Norwegian Tax Administration's shareholder register 2025 (majority owner with more than 50 % of the shares). Voting agreements and ownership through other countries are not included.
From the Central Coordinating Register
- Org. no.
- 989505998
- Legal form
- AS
- Sector
- Eiendom (68.200)
- Purpose
- Kjøp og salg av fast eiendom, utleie av fast eiendom, verdiutvikling og drift av fast eiendom og alt hva dertil kan henføres.
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 9 February 2006 20 years in operation
- Share capital
- 1.00 MNOK
- Business address
- Gartnerveien 20, 8010 BODØ
- Municipality
- Bodø rank 4–9 of 10 in KOSTRA group 11
- Audit
- Audit opted out from 15 December 2020
- Latest accounts filed
- 2025
- VAT registered
- 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 7 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 2 (one owner holds more than half)
- Largest owner
- 66.7%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Pmg Holding AS (67%)
Ultimate owner: private person
The owner: the majority owner Pmg Holding AS (holds 67%) made a loss in 2025. A weak parent can affect the subsidiary through group contributions, loans and guarantees. It is an indication to watch, not an assessment of the company.
- Pmg Holding AS · 66.7%
- Postillon AS · 33.3%
Change 2007–2025: 33% of the shares changed owner (0 new and 1 departed owners). The majority owner changed.
Source: the Norwegian Tax Administration's shareholder register as of 2025. Figures may be older than today's ownership. Private persons are not shown by name.
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.
Is this your company? Suggest changes or add information
Figures last fetched 10 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | 57 | – | |
| Rank | – | 9,960 | – | |
| Operating margin | 63.1% | 68.8% | 55.2% | |
| Return on assets | 10.2% | 13.6% | 8.8% | |
| Equity ratio | −46.9% | −41.1% | −39.9% | |
| Current ratio | 7.62 | 7.78 | 14.21 | |
| Revenue growth | – | 27.7% | −22.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.9 MNOK | 1.1 MNOK | 0.9 MNOK |
| Operating profit | 0.6 MNOK | 0.8 MNOK | 0.5 MNOK |
| Profit before tax | −0.4 MNOK | 0.2 MNOK | 0.1 MNOK |
| Tax expense | – | – | – |
| Net profit | −0.4 MNOK | 0.2 MNOK | 0.1 MNOK |
| Financial expenses | 1.0 MNOK | 0.6 MNOK | 0.4 MNOK |
| Total assets | 5.7 MNOK | 5.9 MNOK | 5.8 MNOK |
| Current assets | 0.8 MNOK | 1.0 MNOK | 1.1 MNOK |
| Equity | −2.7 MNOK | −2.4 MNOK | −2.3 MNOK |
| Retained earnings | −3.7 MNOK | −3.4 MNOK | −3.3 MNOK |
| Total liabilities | 8.3 MNOK | 8.3 MNOK | 8.1 MNOK |
| Current liabilities | 0.1 MNOK | 0.1 MNOK | 0.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 10 November 2026, accounts id 6027757.
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