Reftec AS
Score · fiscal year 2025
50of 100
How to read this: the company is ahead of 49 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 892 of 1,764 · What are Morning company classes?
Place in the whole sector: 10,300 of 20,336 · Bygg og anlegg
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 11 and solidity 92 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
Reftec AS is at the median for companies in the Morning class Medium in the same sector in 2025.
Median score 50 among 1,763 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin −2.6% (median 4.6%) and equity ratio 56.2% (median 30.5%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 51 MNOK | 91 MNOK |
| Operating margin | −2.6% | 4.6% |
| Profit margin | −2.7% | 4.5% |
| Return on assets | −6.7% | 11.4% |
| Equity ratio | 56.2% | 30.5% |
| Debt-to-equity | 0.78 | 2.23 |
| Current ratio | 2.09 | 1.38 |
| Revenue growth | −11.4% | 6.8% |
| Revenue per employee | 2.97 MNOK | 2.53 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 50, Reftec AS does better than 49% of companies in the Morning class Medium in the same sector (1,764 companies) in 2025.
Score 2023–2025
- Reftec AS
- Median: companies in the Morning class Medium in the same sector
Reftec AS has a score of 50 for 2025, rank 10,300 of 20,336 in the sector.
Strongest: Solidity: percentile 92 against peers, equity ratio 56.2% against a median of 30.5%. Liquidity: percentile 87 against peers, current ratio 2.09 against a median of 1.38.
Weakest: Profitability: percentile 11 against peers, operating margin −2.6% against a median of 4.6%. Growth: percentile 19 against peers, revenue growth −11.4% against a median of 6.8%.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −2.7% (median 4.5%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −2.6% (median 4.6%).
- What lies behind weak profitability, and will it last?
- What lies behind weak growth, 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
Reftec AS had an operating margin of −2.6% and an equity ratio of 56.2% in 2025, and ranks 10,300 of 20,336 in Bygg og anlegg.
From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from 4.3% to −2.6%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 10 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 10 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
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −2.7% (median 4.5%).
- 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 −2.6% (median 4.6%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.4% 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 2021, the sector's weakest year, for this company.
The sector's weakest year was 2021, with a median operating margin of 1.8%. 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 | 11 | weight 30% |
|---|---|---|
| Solidity | 92 | weight 25% |
| Liquidity | 87 | weight 15% |
| Growth | 19 | weight 15% |
| Consistency | 52 | weight 15% |
Durability: 56 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Reftec AS?
The operating margin was −2.6% in 2025, against a median of 4.6% among companies in the Morning class Medium in the same sector. Return on assets was −6.7%. The company made a loss before tax.
How solid is Reftec AS?
The equity ratio was 56.2% in 2025 (median 30.5%). Debt-to-equity was 0.78 (median 2.23).
What is the liquidity of Reftec AS like?
The current ratio was 2.09 in 2025 (median 1.38).
How does Reftec AS compare in Bygg og anlegg?
Reftec AS ranks 10,300 of 20,336 in Bygg og anlegg for 2025. Among companies in the Morning class Medium it is number 892 of 1,764. Revenue changed by −11.4% from the year before.
Public contracts
- Contracts awarded since 2024
- 1
- Total awarded value since 2024
- value not stated
- Framework agreements
- 1
- Left out of the total: the value is a ceiling, not actual spend.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 9 July 2024 | SYKEHUSINNKJØP HF | Kjøleanlegg for LAB- og Bevegelsessenteret St. Olavs hospital | value not stated |
Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.
Source: Doffin (DFØ), fetched 27 October 2026. Winners are matched on organisation number.
Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0
From the Central Coordinating Register
- Org. no.
- 996926885
- Legal form
- AS
- Sector
- Bygg og anlegg (43.222)
- Morning company class
- Medium
- Employees
- 17 registered 10 August 2026
- Founded
- 1 May 2011 15 years in operation
- Share capital
- 0.20 MNOK
- Business address
- Vestre Rosten 85, 7075 TILLER (TRONDHEIM)
- Municipality
- Trondheim rank 3 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
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 29 October 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 100%
- Group chain
- Ultimate owner: Nordic Climate Group AB
- Nordic Climate Group AB (Sweden) · 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.
Figures last fetched 29 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 56 | 62 | 50 | |
| Rank | 7,485 | 5,319 | 10,300 | |
| Operating margin | 12.4% | 4.3% | −2.6% | |
| Return on assets | 22.2% | 13.6% | −6.7% | |
| Equity ratio | 25.9% | 48.9% | 56.2% | |
| Current ratio | 1.30 | 1.86 | 2.09 | |
| Revenue growth | – | −15.8% | −11.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 67.7 MNOK | 57.0 MNOK | 50.5 MNOK |
| Operating profit | 8.4 MNOK | 2.4 MNOK | −1.3 MNOK |
| Profit before tax | 8.2 MNOK | 2.8 MNOK | −1.3 MNOK |
| Tax expense | 1.8 MNOK | 0.6 MNOK | −0.3 MNOK |
| Net profit | 6.4 MNOK | 2.2 MNOK | −1.1 MNOK |
| Financial expenses | −0.5 MNOK | 0.2 MNOK | 0.2 MNOK |
| Total assets | 34.4 MNOK | 22.1 MNOK | 17.4 MNOK |
| Current assets | 33.1 MNOK | 20.9 MNOK | 15.9 MNOK |
| Equity | 8.9 MNOK | 10.8 MNOK | 9.8 MNOK |
| Retained earnings | 6.4 MNOK | 7.3 MNOK | 6.3 MNOK |
| Total liabilities | 25.5 MNOK | 11.3 MNOK | 7.6 MNOK |
| Current liabilities | 25.5 MNOK | 11.2 MNOK | 7.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 6460603.
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