Skipet 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 Morning class Small in the same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin 54.1% Better than the industry Industry: 40.6%
- Returns · return on assets 6.2% Weaker than the industry Industry: 7.8%
- Solidity · equity ratio 36.9% Better than the industry Industry: 27.3%
- Liquidity · current ratio 40.77 Better than the industry Industry: 1.27
- Growth · revenue growth 3.4% About like the industry Industry: 4.1%
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 2025
53of 100
How to read this: the company is ahead of 58 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 2,133 of 5,128 · What are Morning company classes?
Place in the whole sector: 12,631 of 30,132 · Eiendom
Profile
Lion · Leader
High profitability, high resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 51 and resilience 66 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Skipet AS is 3 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 50 among 5,127 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 54.1% (median 40.6%) and equity ratio 36.9% (median 27.3%).
How it has gone · 2023–2025
Revenue rose by 9 % from 2023 to 2025, to 46.8 MNOK. The operating margin rose from 51.8% in 2023 to 54.1% in 2025. The equity ratio rose from 34.7% in 2023 to 36.9% in 2025.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Accounts in short
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 43.0 MNOK | 45.2 MNOK | 46.8 MNOK |
| Operating profit | 22.2 MNOK | 25.6 MNOK | 25.3 MNOK |
| Net profit | 7.0 MNOK | 9.0 MNOK | 9.7 MNOK |
| Total assets | 463.6 MNOK | 443.9 MNOK | 443.6 MNOK |
| Equity | 161.0 MNOK | 163.3 MNOK | 163.9 MNOK |
| Total liabilities | 302.6 MNOK | 280.6 MNOK | 279.7 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.
- 995676761
- Legal form
- AS · part of a group
- Sector
- Eiendom (68.200)
- Purpose
- Erverv, drift, forvaltning, utvikling og salg av fast eiendom direkte eller via eierinteresser i andre selskaper.
- Morning company class
- Small
- Employees
- 0–4 (not registered)
- Founded
- 25 May 2010 16 years in operation
- Share capital
- 0.50 MNOK
- Business address
- Damsgårdsveien 14, 5058 BERGEN
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- VAT registered
- Yes
- Former names
- Arenum Eiendom AS until 2019
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
Skipet AS has a score of 53 for 2025, rank 12,631 of 30,132 in the sector.
Strongest: Liquidity: percentile 97 against peers, current ratio 40.77 against a median of 1.27. Consistency: percentile 63 against peers.
Weakest: Growth: percentile 39 against peers, revenue growth 3.4% against a median of 4.1%.
Worth a closer look
- 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 342 days (median 50 days).
- What lies behind weak growth, and will it last?
- The change in operating margin in 2025 was 2.7 percentage points weaker than for comparable companies: the company −2.5, the industry +0.2 points. That is the company's own, not something that hit the whole industry.
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
Worth a closer look
- 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 342 days (median 50 days).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.4% 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 15.0%. 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 | 51 | weight 40% |
|---|---|---|
| Solidity | 60 | weight 20% |
| Liquidity | 97 | weight 5% |
| Growth | 39 | weight 25% |
| Consistency | 63 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 55 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 47 MNOK | 17 MNOK |
| Operating margin | 54.1% | 40.6% |
| Profit margin | 26.5% | 19.3% |
| Return on assets | 6.2% | 7.8% |
| Equity ratio | 36.9% | 27.3% |
| Debt-to-equity | 1.71 | 2.34 |
| Current ratio | 40.77 | 1.27 |
| Revenue growth | 3.4% | 4.1% |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 53, Skipet AS does better than 58% of companies in the Morning class Small in the same sector (5,128 companies) in 2025.
Score 2023–2025
- Skipet AS
- Median: companies in the Morning class Small 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. |
342 days | 50 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 | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
– | −6.0% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
– | 30.5% | |
| 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. |
1.7 | 2.0 | |
| 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. |
5.4% | 4.7% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
99.6% | 83.5% | |
Of the financial costs of 15.0 MNOK, 15.0 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the Morning class Small in the same sector in 2025. 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.
The industry or the company: what drove the result?
In 2025 the operating margin of Skipet AS fell by 2.5 percentage points. Comparable companies rose by a median 0.2 points. So the company did 2.7 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Skipet AS moved the same way as comparable companies 1 times. About 42% of the changes in operating margin were common to the industry; the rest was the company's own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2024 | 56.6% | 40.5% | +4.8 percentage points | +3.1 percentage points | +1.7 percentage points |
| 2025 | 54.1% | 40.6% | −2.5 percentage points | +0.2 percentage points | −2.7 percentage points |
Comparable companies are those in the same industry and Morning company class. Their change shows what hit the whole industry, the sector drivers below included. The rest is the company's own: contracts, costs, one-off items or operations. The share is approximate, and we claim no cause.
The company and its sector's drivers
Prices, rate and currency that shape the sector's year, year by year beside the operating margin of Skipet AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
House prices (existing homes) rose 5.5% in 2025; the operating margin of Skipet AS fell 2.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| House prices (existing homes), annual average | 134.5 | 141.6 | 140.8 | 144.6 | 152.5 | 158.7 (so far) |
| Change from the year before | +10.5% | +5.2% | −0.5% | +2.7% | +5.5% | +4.1% |
| The company's operating margin | – | – | 51.8% | 56.6% | 54.1% | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Skipet AS fell 2.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.17 (so far) |
| Change from the year before | −0.28 percentage points | +1.24 percentage points | +2.22 percentage points | +0.96 percentage points | −0.20 percentage points | −0.12 percentage points |
| The company's operating margin | – | – | 51.8% | 56.6% | 54.1% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
Construction cost index for dwellings rose 4.3% in 2025; the operating margin of Skipet AS fell 2.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Construction cost index for dwellings, annual average | 124.2 | 135.1 | 141.1 | 146.4 | 152.7 | 158.4 (so far) |
| Change from the year before | +8.7% | +8.8% | +4.4% | +3.7% | +4.3% | +3.7% |
| The company's operating margin | – | – | 51.8% | 56.6% | 54.1% | – |
Source: SSB (08651, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Skipet AS fell 2.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 103.0 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +3.0% |
| The company's operating margin | – | – | 51.8% | 56.6% | 54.1% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: real estate (indeks)
Wage index: real estate rose 5.2% in 2025; the operating margin of Skipet AS fell 2.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: real estate, annual average | 91.7 | 94.3 | 96.8 | 103.2 | 108.5 | 111.3 (so far) |
| Change from the year before | +5.2% | +2.9% | +2.6% | +6.5% | +5.2% | +2.6% |
| The company's operating margin | – | – | 51.8% | 56.6% | 54.1% | – |
Source: SSB (12314, CC BY 4.0). Source
We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.
What the numbers say
Skipet AS had an operating margin of 54.1% and an equity ratio of 36.9% in 2025, and ranks 12,631 of 30,132 in Eiendom.
From 2024 to 2025: the operating margin fell from 56.6% to 54.1%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 40 MNOK and 78 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | 61 MNOK |
| EV/EBIT | 19.2 | 40 MNOK |
| P/B | 0.7 | 78 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 468 MNOK |
| Enterprise value after the size adjustment | 319 MNOK |
| Less net debt (rough figure) | 279 MNOK |
| Equity value | 40 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 87% 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 3% on the cost of equity gives a value 32% 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 Skipet AS?
The operating margin was 54.1% in 2025, against a median of 40.6% among companies in the Morning class Small in the same sector. Return on assets was 6.2%.
How solid is Skipet AS?
The equity ratio was 36.9% in 2025 (median 27.3%). Debt-to-equity was 1.71 (median 2.34).
What is the liquidity of Skipet AS like?
The current ratio was 40.77 in 2025 (median 1.27).
How does Skipet AS compare in Eiendom?
Skipet AS ranks 12,631 of 30,132 in Eiendom for 2025. Among companies in the Morning class Small it is number 2,133 of 5,128. Revenue changed by 3.4% from the year before.
Competitors
The 8 closest competitors in the same line of business, placed in the same matrix as the sector page: profitability up, resilience to the right. These are the companies the competitor analysis and the strategy report compare with.
Each bubble is a company: this company and its closest competitors in the same line of business and size, the same ones the competitor analysis uses. Placement is 0–100 against the whole sector and Morning company class: further right is more robust, higher up is more profitable. Bubble size is revenue. The light bubble and arrow show where the company stood the year before. Pick a profile to see fewer at a time.
| Company | Profile | Operating revenue | Operating margin | Score |
|---|---|---|---|---|
| Parkveien 53/55 AS |  Lion |
47 MNOK | 65.5% | 57 |
| Norwegian Hotels and Apartments AS | Lion |
47 MNOK | 27.5% | 64 |
| Fosshaugane AS |  Beaver |
47 MNOK | 38.3% | 46 |
| Norsk Scania Eiendom AS | Lion |
47 MNOK | 51.7% | 56 |
| Skipet AS (this company) | Lion |
47 MNOK | 54.1% | 53 |
| Libakkløkka AS |  Elephant |
47 MNOK | 9.5% | 41 |
| Akersveien 26 AS | Lion |
47 MNOK | 59.0% | 64 |
| KLP Eiendom Trondheim AS | Lion |
47 MNOK | 25.1% | 68 |
| Fåbro Eiendom AS |  Cheetah |
47 MNOK | 64.5% | 49 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
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.
Group structure · 2025
35 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.
No owner holds more than half of the shares in GC Rieber Eiendom AS.
Group accounts. GC Rieber Eiendom AS for 2025: index 40 of 100, number 57 of 80 groups. See the group accounts
The group in figures
- Sectors
- Eiendom (35 companies) 35 of 35 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
- 40 in all. Bergen 40 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Loss
- 10 companies: GC Rieber Eiendom Pluss AS, Nye Beddingen AS, Krohnen AS, Rieber Eiendom AS, Marineholmen Stationen AS, Fenderen AS …
- Changed 2024–2025
- 6 companies joined the group: Marineholmen AS, GC Rieber Eiendom Vekst AS, Lotheveien Parkering AS, Sjø Marineholmen AS, Kvartalet Marineholmen AS, Marineholmen Mk2 AS.
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.
-
GC Rieber Eiendom AS
- Skipet AS you are here
- GC Rieber Eiendom Drift AS
- GC Rieber Eiendom Pluss AS
- Motorhallen AS
- Bergen Helsehus AS
- Skipsbyggerhallen AS
- Bontelabo AS
- Viken Brygge AS
- Nye Beddingen AS
- Krohnen AS
- Nye Administrasjonsbygget AS
- Administrasjonsbygget Solheimsviken AS
- Skuteviksboder 1-2 AS
- Kvartalet Marineholmen AS
- and 8 more companies
The tree shows up to 4 levels below the top. Large groups have more companies than shown.
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.
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 8 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: GC Rieber Eiendom AS (100%)
Ultimate owner: GC Rieber Eiendom AS
- GC Rieber Eiendom AS · 100.0%
The company is new in the shareholder register in 2025.
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 | 53 | 58 | 53 | |
| Rank | 11,736 | 8,742 | 12,631 | |
| Operating margin | 51.8% | 56.6% | 54.1% | |
| Return on assets | 5.2% | 6.2% | 6.2% | |
| Equity ratio | 34.7% | 36.8% | 36.9% | |
| Current ratio | 84.98 | 16.57 | 40.77 | |
| Revenue growth | – | 5.3% | 3.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 43.0 MNOK | 45.2 MNOK | 46.8 MNOK |
| Operating profit | 22.2 MNOK | 25.6 MNOK | 25.3 MNOK |
| Profit before tax | 9.0 MNOK | 11.5 MNOK | 12.4 MNOK |
| Tax expense | 2.0 MNOK | 2.5 MNOK | 2.7 MNOK |
| Net profit | 7.0 MNOK | 9.0 MNOK | 9.7 MNOK |
| Financial expenses | 15.0 MNOK | 16.1 MNOK | 15.0 MNOK |
| Total assets | 463.6 MNOK | 443.9 MNOK | 443.6 MNOK |
| Current assets | 42.1 MNOK | 30.8 MNOK | 43.8 MNOK |
| Equity | 161.0 MNOK | 163.3 MNOK | 163.9 MNOK |
| Retained earnings | 18.4 MNOK | 20.7 MNOK | 21.3 MNOK |
| Total liabilities | 302.6 MNOK | 280.6 MNOK | 279.7 MNOK |
| Current liabilities | 0.5 MNOK | 1.9 MNOK | 1.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 10 November 2026, accounts id 6712986.
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