Shellcon 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
Key facts
Is the company run well?
Five key figures against companies in the same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin −56.1% Weaker than the industry Industry: 8.4%
- Returns · return on assets 17.3% Better than the industry Industry: 14.8%
- Solidity · equity ratio 96.3% Better than the industry Industry: 43.5%
- Liquidity · current ratio 26.48 Better than the industry Industry: 1.67
The mark comes from the company's place among comparable companies (percentile): green from 60, amber from 40, red below 40. Negative equity, an operating loss and a current ratio under 1 pull it down regardless. Methodology
Score · fiscal year 2023
Not enough data: Not enough data (below minimum revenue)
Based on the annual accounts for 2023
How it has gone · 2023–2025
Revenue rose by 596 % from 2023 to 2025, to 3.6 MNOK. The operating margin rose from −56.1% in 2023 to 34.1% in 2025. The equity ratio fell from 96.3% in 2023 to 88.5% in 2025.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Accounts in short
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.5 MNOK | 3.4 MNOK | 3.6 MNOK |
| Operating profit | −0.3 MNOK | 0.8 MNOK | 1.2 MNOK |
| Net profit | 0.0 MNOK | 1.3 MNOK | 1.7 MNOK |
| Total assets | 3.4 MNOK | 5.1 MNOK | 6.7 MNOK |
| Equity | 3.3 MNOK | 4.3 MNOK | 5.9 MNOK |
| Total liabilities | 0.1 MNOK | 0.8 MNOK | 0.8 MNOK |
From the Brønnøysund Register Centre, in the company's reporting currency (NOK). See every figure year by year
From the Central Coordinating Register
- Org. no.
- 993097314
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.129)
- Purpose
- Salg av bemanningstjenester innenfor oljeindustrien og servicenæring. Samt investeringer i fast eiendom og verdipapirer, kjøp og salg av varer til servicenæring og privatpersoner, kjøp og salg av motorkjøretøy og annet som står i naturlig forbindelse med dette.
- Morning company class
- Micro
- Employees
- 0–4 (not registered) Payroll costs in the accounts: 0.4 MNOK (2023).
- Founded
- 10 September 2008 18 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Carl Lumholtz gate 4, 2609 LILLEHAMMER
- Municipality
- Lillehammer rank 3–14 of 27 in KOSTRA group 9
- Audit
- Audit opted out from 14 December 2016
- Latest accounts filed
- 2025
- VAT registered
- Yes
- LEI
- 636700SHQFX67GMA7694 renews 22 October 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
Worth a closer look
- critical
The operating result does not cover the financial costs. How will the debt be serviced, and what do the lenders say?
Based on: Interest coverage (times) −0.5 (median 13.2); Financial costs as a share of debt 484.1% (median 0.5%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −5.3% (median 8.3%).
- 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 −56.1% (median 8.4%).
- 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 1,206 days (median 52 days).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 484.1% 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
No anomalies found in the figures.
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 −0.2%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 2 MNOK |
| Operating margin | −56.1% | 8.4% |
| Profit margin | −5.3% | 8.3% |
| Return on assets | 17.3% | 14.8% |
| Equity ratio | 96.3% | 43.5% |
| Debt-to-equity | 0.04 | 1.06 |
| Current ratio | 26.48 | 1.67 |
| Revenue growth | – | 4.6% |
The median and “ahead of” refer to companies in the same sector in 2023. The bar shows the share of companies the figure is ahead of.
Score 2023–2025
- Shellcon AS
- Median: companies in the same sector
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
1,206 days | 52 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. |
1,147 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. |
619.8% | −6.6% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
1.6% | 54.9% | |
| 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. |
−0.5 | 13.2 | |
| 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. |
484.1% | 0.5% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
0.0% | 0.0% | |
The operating result is negative, so the interest coverage is negative: operations cover none of the financial costs.
Net working capital (current assets less bank deposits less current liabilities): 3.2 MNOK.
Of the financial costs of 0.6 MNOK, 0.0 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the same sector in 2023. 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
Shellcon AS had an equity ratio of 96.3% in 2023. The company is not ranked: not enough data (below minimum revenue).
This text is generated automatically from the 2023 accounts.
Three simple methods
The methods give between 0 MNOK and 5 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 14.9 | 0 MNOK |
| EV/EBIT | 14.3 | not meaningful |
| P/B | 2.3 | 5 MNOK |
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 (71.1): Engineering/Construction.
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 Shellcon AS?
The operating margin was −56.1% in 2023, against a median of 8.4% among companies in the same sector. Return on assets was 17.3%. The company made a loss before tax.
How solid is Shellcon AS?
The equity ratio was 96.3% in 2023 (median 43.5%). Debt-to-equity was 0.04 (median 1.06).
What is the liquidity of Shellcon AS like?
The current ratio was 26.48 in 2023 (median 1.67).
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 8 November 2026. Only names are shown.
- Parent company
- No parent company: owned by persons
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 31 October 2026. The parent is the one the company itself reported to GLEIF.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 0% · private persons 100% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
- Ultimate owner: private person
The company is new in the shareholder register in 2025.
Holds shares in: Höegh Autoliners ASA (0%)
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 | – | 82 | 76 | |
| Rank | – | 233 | 630 | |
| Operating margin | −56.1% | 23.9% | 34.1% | |
| Return on assets | 17.3% | 41.3% | 38.9% | |
| Equity ratio | 96.3% | 84.2% | 88.5% | |
| Current ratio | 26.48 | 6.83 | 8.43 | |
| Revenue growth | – | 550.0% | 7.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.5 MNOK | 3.4 MNOK | 3.6 MNOK |
| Operating profit | −0.3 MNOK | 0.8 MNOK | 1.2 MNOK |
| Profit before tax | 0.0 MNOK | 1.5 MNOK | 1.9 MNOK |
| Tax expense | −0.1 MNOK | 0.2 MNOK | 0.2 MNOK |
| Net profit | 0.0 MNOK | 1.3 MNOK | 1.7 MNOK |
| Financial expenses | 0.6 MNOK | 0.6 MNOK | 0.7 MNOK |
| Total assets | 3.4 MNOK | 5.1 MNOK | 6.7 MNOK |
| Current assets | 3.4 MNOK | 5.0 MNOK | 6.5 MNOK |
| Equity | 3.3 MNOK | 4.3 MNOK | 5.9 MNOK |
| Retained earnings | 3.2 MNOK | 4.2 MNOK | 5.9 MNOK |
| Total liabilities | 0.1 MNOK | 0.8 MNOK | 0.8 MNOK |
| Current liabilities | 0.1 MNOK | 0.7 MNOK | 0.8 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 10 November 2026, accounts id 4984067.