Sector

2,313 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology

Ranking · 2025 · Morning class Large

Morning class Large · 2025
#CompanyProfileScoreChangeFive years
1 Nardo Bil AS Leader 82 +19
2 WIST LAST & Buss AS Leader 78 +9
3 Toyota Sør AS Leader 75 +5
4 Naf AS Leader 72 −1
5 Bilbutikk 1 AS Leader 71 +10
6 Bilia Norge AS Leader 70 +11
7 Werksta Norway AS Leader 70 −6
8 Dahles Auto Sarpsborg AS Leader 69 +2
9 Elis Norge AS Leader 68 −4
10 Menarmo AS Leader 67 −4
11 Melhus Bil Trondheim AS Leader 66 +23
12 Team Verksted AS Leader 63 +22
13 Dahles Auto Fredrikstad AS Leader 62 +2
14 BERTEL O. Steen Bergen AS Leader 61 +11
15 Bertel O Steen Østfold AS Steward 60 +12
16 BERTEL O. Steen Innlandet AS Steward 60 +2
17 Volmax AS Leader 60 −4
18 Kverneland Bil Vest AS Sprinter 59 +12
19 Gumpens Auto Vest AS Sprinter 58 +9
20 Frydenbø Bil Asv AS Sprinter 57 +13
21 Gromstad Auto AS Sprinter 56 −5
22 Bertel O Steen Rogaland AS Leader 56 +5
23 Jæger Automobil AS Leader 55 −17
24 Frydenbø Bil Vpl AS Sprinter 55 +9
25 Nordic Last og Buss AS Leader 55 −11
26 Møller Bil Innlandet AS Sprinter 54 +9
27 Yes-EU AS Sprinter 54 +2
28 Toyota Asker og Bærum AS Leader 54 −9
29 Møller Bil Bergen AS Sprinter 54 +3
30 Sulland Lier AS Sprinter 53 +2
31 BERTEL O. Steen Lørenskog AS Steward 52 +1
32 BERTEL O. Steen Ullevål AS Leader 52 −15
33 Ruter AS Steward 52 +2
34 Bertel O Steen Asker og Bærum AS Steward 51 −10
35 Møller Bil Vestfold AS Sprinter 51 −2
36 Snap Drive AS Sprinter 50 +4
37 BERTEL O. Steen Trøndelag AS Steward 50 +1
38 Auto 8-8 Ålesund AS Steward 50 +9
39 Motor-Trade AS Steward 50 +1
40 Onitio Norge AS Steward 49 −22
41 Sulland Tromsø AS Sprinter 49 −10
42 Møller Bil Øst AS Sprinter 49 +2
43 Nor Tekstil AS Sprinter 49 −12
44 Frydenbø Bil Ålesund AS Sprinter 48 +9
45 Agder Kollektivtrafikk AS Steward 46 −2
46 Gumpens Auto Grenland AS Builder 46 +8
47 Volvo Norge AS Sprinter 45 −12
48 BERTEL O. Steen Agder AS Builder 45 +20
49 Vegamot AS Sprinter 45 +2
50 Toyota Oslo AS Steward 44 −11

The rank is the rank in the class. A class with fewer than ten companies is compared with the whole sector. Full ranking · Press mode

Biggest moves · Morning class Large

  • Melhus Bil Trondheim AS

    From 2024 to 2025: revenue grew by 24% and the equity ratio rose from 31.2% to 37.6%.

    +23
  • Onitio Norge AS

    From 2024 to 2025: the operating margin fell from 2.3% to −1.1%.

    −22
  • Team Verksted AS

    From 2024 to 2025: the equity ratio rose from 4.9% to 28.3% and the operating margin fell from 6.4% to 4.3%.

    +22
  • BERTEL O. Steen Agder AS

    From 2024 to 2025: went from a loss to a profit before tax and the equity ratio rose from 7.9% to 18.4%.

    +20
Summary analysis

Annen tjenesteyting, Morning class Large: 75 ranked companies in fiscal year 2025.

Best in the sector: Nardo Bil AS (score 82, operating margin 4.6%, equity ratio 46.1%). WIST LAST & Buss AS (score 78, operating margin 7.5%, equity ratio 41.5%). Toyota Sør AS (score 75, operating margin 5.0%, equity ratio 33.5%).

Weakest in the sector: Nordvik AS (score 24, operating margin 0.1%, equity ratio 18.5%). Formula Automobile Norge AS (score 26, operating margin −0.2%, equity ratio 5.6%). Kverneland Bil AS (score 26, operating margin 0.1%, equity ratio 14.5%).

Worth a closer look

Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made

Top lists in the sector · 2025 · Morning class Large

The five largest companies account for 30% of the sector's revenue. Combined profit before tax for the 74 ranked companies: 12,557 MNOK.

Size

The largest by revenue and employees, and who earns the most per employee.

Highest revenue

  1. Ruter AS 13,879 MNOK
  2. Norsk Scania AS 8,793 MNOK
  3. Bilia Norge AS 6,518 MNOK
  4. Ferde AS 5,097 MNOK
  5. Fjellinjen AS 5,014 MNOK

Operating revenue.

Most employees

  1. Nor Tekstil AS 1,648
  2. Norsk Scania AS 1,343
  3. Bilia Norge AS 781
  4. Elis Norge AS 548
  5. Naf AS 456

Employees according to the Central Coordinating Register.

Highest revenue per employee

  1. Vegamot AS 191.8 MNOK
  2. Fjellinjen AS 167.1 MNOK
  3. Ferde AS 130.7 MNOK
  4. Ruter AS 32.8 MNOK
  5. Kolumbus AS 31.8 MNOK

Only companies with at least 5 employees.

Profit and balance

Who earns the most, who loses the most, and who has the strongest balance sheet.

Highest operating margin

  1. Vegamot AS 94.8%
  2. Ferde AS 94.1%
  3. Fjellinjen AS 93.1%
  4. Vegfinans E18 Vestfold AS 23.7%
  5. Norsk Scania AS 13.9%

Operating result divided by operating revenue.

Largest profit

  1. Fjellinjen AS 4,554 MNOK
  2. Ferde AS 4,023 MNOK
  3. Vegamot AS 2,073 MNOK
  4. Bilia Norge AS 154 MNOK
  5. Ruter AS 153 MNOK

Profit before tax.

Largest loss

  1. Kolumbus AS −50 MNOK
  2. Røhneselmer AS −49 MNOK
  3. Helseplattformen AS −40 MNOK
  4. Birger N Haug AS −27 MNOK
  5. BERTEL O. Steen Drammen AS −19 MNOK

Profit before tax, the largest negative.

Most solid

  1. Onitio Norge AS 74.5%
  2. Elis Norge AS 59.1%
  3. Bilia Norge AS 59.0%
  4. Naf AS 55.5%
  5. BERTEL O. Steen Trøndelag AS 52.3%

Equity ratio: equity divided by total assets.

Growth and movement

Who grows and falls the most in revenue, and who has climbed or fallen the most on the index since the year before.

Fastest growth

  1. Yes-EU AS +76.1%
  2. Nardo Bil AS +69.3%
  3. Kverneland Bil Vest AS +58.9%
  4. Sulland Lier AS +53.4%
  5. Frydenbø Bil Asv AS +44.8%

Revenue growth from the year before, only from at least NOK 10 million in revenue.

Largest revenue decline

  1. Toyota Oslo AS −13.3%
  2. Helseplattformen AS −13.2%
  3. Nordvik AS −10.9%
  4. Toyota Buskerud AS −10.7%
  5. Volmax AS −9.0%

Revenue decline from the year before, only from at least NOK 10 million in revenue.

Biggest climbers

  1. Melhus Bil Trondheim AS +23.0 points
  2. Team Verksted AS +22.8 points
  3. BERTEL O. Steen Agder AS +20.3 points
  4. Nardo Bil AS +18.7 points
  5. Kverneland Bil AS +14.2 points

Change in index points from the year before.

Biggest fallers

  1. Onitio Norge AS −21.4 points
  2. Jæger Automobil AS −17.0 points
  3. Kolumbus AS −16.4 points
  4. Toyota Buskerud AS −15.7 points
  5. BERTEL O. Steen Ullevål AS −14.6 points

Change in index points from the year before.

The lists cover ranked companies in the class: operating companies with at least NOK 1m in revenue, without holding companies and excluded ones. Size lists (revenue, profit, employees) count each group once. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.

Quadrant analysis

Positions in the sector · 2025 · Morning class Large

Each company is placed by profitability and solidity, measured as a place from 0 to 100 against the others in the same sector and Morning company class. The bubble shows revenue. Hover over or tap a bubble for the figures, filter by profile or search for a company.

Ruter AS: 29 / 69Norsk Scania AS: 95 / 6Bilia Norge AS: 55 / 97Ferde AS: 92 / 3Fjellinjen AS: 99 / 5Møller Bil Øst AS: 57 / 27Møller Bil Vest AS: 12 / 31Atb AS: 10 / 17Frydenbø Bil Vpl AS: 90 / 29Møller Bil Bergen AS: 72 / 25Yes-EU AS: 88 / 10Birger N Haug AS: 5 / 77Volvo Norge AS: 66 / 16Røhneselmer AS: 6 / 32Møller Bil Innlandet AS: 57 / 28Vegamot AS: 95 / 2Kolumbus AS: 0 / 86Nor Tekstil AS: 65 / 41Bil-Service AS: 22 / 50Møller Bil Sør-Rogaland AS: 49 / 13Kverneland Bil AS: 14 / 20BERTEL O. Steen Lørenskog AS: 24 / 71Kverneland Bil Vest AS: 78 / 47Nardo Bil AS: 79 / 89Møller Bil Vestfold AS: 84 / 22Toyota Oslo AS: 33 / 56WIST LAST & Buss AS: 93 / 85BERTEL O. Steen Bergen AS: 59 / 63Bilbutikk 1 AS: 70 / 76Volmax AS: 71 / 74Nordvik AS: 21 / 40Agder Kollektivtrafikk AS: 14 / 78Menarmo AS: 51 / 90Frydenbø Bil Asv AS: 80 / 24Helseplattformen AS: 58 / 0Bertel O Steen Østfold AS: 22 / 82BERTEL O. Steen Vestfold og Telemark AS: 18 / 51Jæger Automobil AS: 50 / 81Elis Norge AS: 79 / 99Toyota Sør AS: 88 / 67Bertel O Steen Asker og Bærum AS: 16 / 92BERTEL O. Steen Innlandet AS: 18 / 84Gumpens Auto Vest AS: 79 / 43Tet Digital AS: 7 / 55Nordic Last og Buss AS: 81 / 62Gumpens Auto Grenland AS: 40 / 44Carglass AS: 34 / 12Toyota Buskerud AS: 46 / 54Toyota Asker og Bærum AS: 74 / 52Frydenbø Bil Ålesund AS: 61 / 21Dahles Auto Fredrikstad AS: 54 / 66Bertel O Steen Rogaland AS: 69 / 65Sulland Tromsø AS: 55 / 36Team Verksted AS: 74 / 59Motor-Trade AS: 28 / 70Møller Bil Haugesund AS: 29 / 18Naf AS: 81 / 96BERTEL O. Steen Drammen AS: 3 / 61Vegfinans E18 Vestfold AS: 64 / 1Dahles Auto Sarpsborg AS: 52 / 88BERTEL O. Steen Ullevål AS: 61 / 73Gromstad Auto AS: 69 / 48BERTEL O. Steen Trøndelag AS: 1 / 95Werksta Norway AS: 62 / 93Melhus Bil Trondheim AS: 54 / 80Riis Montasje AS: 33 / 35BERTEL O. Steen Agder AS: 36 / 39Sulland Lier AS: 55 / 37Sven Kvia AS: 38 / 46Auto 8-8 Ålesund AS: 42 / 58Fiskeri- og Havbruksnæringens Forskningsfinansiering AS: 56 / 14Formula Automobile Norge AS: 10 / 7Onitio Norge AS: 14 / 100Bilia Insignia AS: 31 / 9Snap Drive AS: 94 / 3300252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers
Ruter AS: 29 / 69Norsk Scania AS: 95 / 6Bilia Norge AS: 55 / 97Ferde AS: 92 / 3Fjellinjen AS: 99 / 5Møller Bil Øst AS: 57 / 27Møller Bil Vest AS: 12 / 31Atb AS: 10 / 17Frydenbø Bil Vpl AS: 90 / 29Møller Bil Bergen AS: 72 / 25Yes-EU AS: 88 / 10Birger N Haug AS: 5 / 77Volvo Norge AS: 66 / 16Røhneselmer AS: 6 / 32Møller Bil Innlandet AS: 57 / 28Vegamot AS: 95 / 2Kolumbus AS: 0 / 86Nor Tekstil AS: 65 / 41Bil-Service AS: 22 / 50Møller Bil Sør-Rogaland AS: 49 / 13Kverneland Bil AS: 14 / 20BERTEL O. Steen Lørenskog AS: 24 / 71Kverneland Bil Vest AS: 78 / 47Nardo Bil AS: 79 / 89Møller Bil Vestfold AS: 84 / 22Toyota Oslo AS: 33 / 56WIST LAST & Buss AS: 93 / 85BERTEL O. Steen Bergen AS: 59 / 63Bilbutikk 1 AS: 70 / 76Volmax AS: 71 / 74Nordvik AS: 21 / 40Agder Kollektivtrafikk AS: 14 / 78Menarmo AS: 51 / 90Frydenbø Bil Asv AS: 80 / 24Helseplattformen AS: 58 / 0Bertel O Steen Østfold AS: 22 / 82BERTEL O. Steen Vestfold og Telemark AS: 18 / 51Jæger Automobil AS: 50 / 81Elis Norge AS: 79 / 99Toyota Sør AS: 88 / 67Bertel O Steen Asker og Bærum AS: 16 / 92BERTEL O. Steen Innlandet AS: 18 / 84Gumpens Auto Vest AS: 79 / 43Tet Digital AS: 7 / 55Nordic Last og Buss AS: 81 / 62Gumpens Auto Grenland AS: 40 / 44Carglass AS: 34 / 12Toyota Buskerud AS: 46 / 54Toyota Asker og Bærum AS: 74 / 52Frydenbø Bil Ålesund AS: 61 / 21Dahles Auto Fredrikstad AS: 54 / 66Bertel O Steen Rogaland AS: 69 / 65Sulland Tromsø AS: 55 / 36Team Verksted AS: 74 / 59Motor-Trade AS: 28 / 70Møller Bil Haugesund AS: 29 / 18Naf AS: 81 / 96BERTEL O. Steen Drammen AS: 3 / 61Vegfinans E18 Vestfold AS: 64 / 1Dahles Auto Sarpsborg AS: 52 / 88BERTEL O. Steen Ullevål AS: 61 / 73Gromstad Auto AS: 69 / 48BERTEL O. Steen Trøndelag AS: 1 / 95Werksta Norway AS: 62 / 93Melhus Bil Trondheim AS: 54 / 80Riis Montasje AS: 33 / 35BERTEL O. Steen Agder AS: 36 / 39Sulland Lier AS: 55 / 37Sven Kvia AS: 38 / 46Auto 8-8 Ålesund AS: 42 / 58Fiskeri- og Havbruksnæringens Forskningsfinansiering AS: 56 / 14Formula Automobile Norge AS: 10 / 7Onitio Norge AS: 14 / 100Bilia Insignia AS: 31 / 9Snap Drive AS: 94 / 3300252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers

Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2024 (small ring).

  • Lion · LeaderHigh profitability, high solidity
  • Cheetah · SprinterHigh profitability, lower solidity
  • Elephant · StewardLower profitability, high solidity
  • Beaver · BuilderLower profitability, lower solidity
Show the positions as a list
CompanyProfileProfitabilitySolidityIn 2024 (profitability / solidity)
Fjellinjen ASCheetah99599 / 5
Norsk Scania ASCheetah95688 / 8
Vegamot ASCheetah95296 / 2
Snap Drive ASCheetah9433–
WIST LAST & Buss ASLion938591 / 50
Ferde ASCheetah92391 / 4
Frydenbø Bil Vpl ASCheetah902988 / 26
Toyota Sør ASLion886792 / 53
Yes-EU ASCheetah881083 / 9
Møller Bil Vestfold ASCheetah842289 / 21
Naf ASLion819650 / 99
Nordic Last og Buss ASLion816286 / 49
Frydenbø Bil Asv ASCheetah802477 / 24
Gumpens Auto Vest ASCheetah794383 / 39
Nardo Bil ASLion798951 / 87
Elis Norge ASLion799982 / 96
Kverneland Bil Vest ASCheetah784749 / 43
Toyota Asker og Bærum ASLion745272 / 61
Team Verksted ASLion745962 / 7
Møller Bil Bergen ASCheetah722558 / 28
Volmax ASLion717470 / 72
Bilbutikk 1 ASLion707652 / 77
Bertel O Steen Rogaland ASLion696564 / 75
Gromstad Auto ASCheetah694875 / 68
Volvo Norge ASCheetah661666 / 18
Nor Tekstil ASCheetah654168 / 37
Vegfinans E18 Vestfold ASCheetah64164 / 1
Werksta Norway ASLion629379 / 88
BERTEL O. Steen Ullevål ASLion617378 / 84
Frydenbø Bil Ålesund ASCheetah612159 / 20
BERTEL O. Steen Bergen ASLion596339 / 65
Helseplattformen ASCheetah5804 / 0
Møller Bil Øst ASCheetah572750 / 30
Møller Bil Innlandet ASCheetah572841 / 23
Fiskeri- og Havbruksnæringens Forskningsfinansiering ASCheetah561412 / 11
Sulland Lier ASCheetah5537–
Bilia Norge ASLion559739 / 97
Sulland Tromsø ASCheetah553659 / 66
Dahles Auto Fredrikstad ASLion546664 / 78
Melhus Bil Trondheim ASLion548030 / 69
Dahles Auto Sarpsborg ASLion528865 / 81
Menarmo ASLion519059 / 82
Jæger Automobil ASLion508176 / 93
Møller Bil Sør-Rogaland ASBeaver491347 / 27
Toyota Buskerud ASElephant465483 / 59
Auto 8-8 Ålesund ASElephant425839 / 45
Gumpens Auto Grenland ASBeaver404428 / 40
Sven Kvia ASBeaver384662 / 42
BERTEL O. Steen Agder ASBeaver363915 / 12
Carglass ASBeaver341216 / 15
The sector in numbers

Summary · fiscal year 2025 · Morning class Large

The sector's median operating margin is 2.3%. 1 of 75 companies have negative equity. The median equity ratio is 22.0%.

Companies with accounts75
Total revenue131,152 MNOK
Median operating margin2.3%
Median equity ratio22.0%
Share with a loss20%
Share with negative equity1%

All figures are for fiscal year 2025. Ranked: 75 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

Climbers and fallers · Morning class Large

Change in rank from 2024 to 2025, for 70 companies ranked in both years.

Climbers

  1. 42Team Verksted ASfrom rank 54 to 1263
  2. 41Melhus Bil Trondheim ASfrom rank 52 to 1166
  3. 27Frydenbø Bil Asv ASfrom rank 47 to 2057
  4. 26Bertel O Steen Østfold ASfrom rank 41 to 1560
  5. 24Kverneland Bil Vest ASfrom rank 42 to 1859

Fallers

  1. 35Onitio Norge ASfrom rank 5 to 4049
  2. 35Toyota Buskerud ASfrom rank 23 to 5841
  3. 30Sven Kvia ASfrom rank 26 to 5642
  4. 29Kolumbus ASfrom rank 39 to 6832
  5. 27Nor Tekstil ASfrom rank 16 to 4349

Awards · 2025 · Morning class Large

Most profitableVegamot AS94.8%
Fastest growthYes-EU AS76.1%
Strongest balance sheetOnitio Norge AS74.5%
Largest revenueRuter AS13,879 MNOK
Highest revenue per employeeVegamot AS191.8 MNOK

Needs attention · 2025 · Morning class Large

27 companies show at least one warning sign. Showing the 15 most important.

Sector map · 2025 · Morning class Large

Profitability against solidity for the ranked companies. Size shows revenue. Coral triangle: negative equity. Click to open the company. Outliers are placed on the edge.

0%5%10%0%10%20%30%40%50%Operating margin (profitability) →Equity ratio (solidity) →Ruter AS: operating margin 0.3%, equity ratio 34.8%, rank 33Norsk Scania AS: operating margin 13.9%, equity ratio 2.4%, rank 61Bilia Norge AS: operating margin 2.9%, equity ratio 59.0%, rank 6Ferde AS: operating margin 94.1%, equity ratio 0.2%, rank 51Fjellinjen AS: operating margin 93.1%, equity ratio 2.4%, rank 53Møller Bil Øst AS: operating margin 2.2%, equity ratio 15.1%, rank 42Møller Bil Vest AS: operating margin 0.1%, equity ratio 15.3%, rank 62Atb AS: operating margin −0.6%, equity ratio 13.8%, rank 70Frydenbø Bil Vpl AS: operating margin 5.3%, equity ratio 15.1%, rank 24Møller Bil Bergen AS: operating margin 2.6%, equity ratio 15.1%, rank 29Yes-EU AS: operating margin 5.5%, equity ratio 8.7%, rank 27Birger N Haug AS: operating margin −0.7%, equity ratio 36.2%, rank 64Volvo Norge AS: operating margin 4.7%, equity ratio 13.3%, rank 47Røhneselmer AS: operating margin −0.6%, equity ratio 16.1%, rank 71Møller Bil Innlandet AS: operating margin 2.1%, equity ratio 15.1%, rank 26Vegamot AS: operating margin 94.8%, equity ratio 0.0%, rank 49Kolumbus AS: operating margin −2.9%, equity ratio 43.2%, rank 68Nor Tekstil AS: operating margin 10.2%, equity ratio 18.8%, rank 43Bil-Service AS: operating margin 0.7%, equity ratio 22.0%, rank 60Møller Bil Sør-Rogaland AS: operating margin 1.9%, equity ratio 11.9%, rank 55Kverneland Bil AS: operating margin 0.1%, equity ratio 14.5%, rank 73BERTEL O. Steen Lørenskog AS: operating margin 0.6%, equity ratio 35.6%, rank 31Kverneland Bil Vest AS: operating margin 3.9%, equity ratio 20.3%, rank 18Nardo Bil AS: operating margin 4.6%, equity ratio 46.1%, rank 1Møller Bil Vestfold AS: operating margin 4.0%, equity ratio 15.0%, rank 35Toyota Oslo AS: operating margin 1.2%, equity ratio 26.5%, rank 50WIST LAST & Buss AS: operating margin 7.5%, equity ratio 41.5%, rank 2BERTEL O. Steen Bergen AS: operating margin 2.1%, equity ratio 30.3%, rank 14Bilbutikk 1 AS: operating margin 3.1%, equity ratio 35.9%, rank 5Volmax AS: operating margin 3.4%, equity ratio 35.8%, rank 17Nordvik AS: operating margin 0.1%, equity ratio 18.5%, rank 75Agder Kollektivtrafikk AS: operating margin −0.6%, equity ratio 36.4%, rank 45Menarmo AS: operating margin 2.2%, equity ratio 48.1%, rank 10Frydenbø Bil Asv AS: operating margin 3.9%, equity ratio 15.0%, rank 20Helseplattformen AS: operating margin 7.7%, equity ratio −22.7%, rank 66Bertel O Steen Østfold AS: operating margin 0.4%, equity ratio 38.6%, rank 15BERTEL O. Steen Vestfold og Telemark AS: operating margin 0.2%, equity ratio 25.7%, rank 59Jæger Automobil AS: operating margin 2.3%, equity ratio 37.9%, rank 23Elis Norge AS: operating margin 10.6%, equity ratio 59.1%, rank 9Toyota Sør AS: operating margin 5.0%, equity ratio 33.5%, rank 3Bertel O Steen Asker og Bærum AS: operating margin 0.2%, equity ratio 50.7%, rank 34BERTEL O. Steen Innlandet AS: operating margin 0.1%, equity ratio 40.5%, rank 16Gumpens Auto Vest AS: operating margin 3.2%, equity ratio 19.2%, rank 19Tet Digital AS: operating margin −0.6%, equity ratio 26.5%, rank 57Nordic Last og Buss AS: operating margin 5.5%, equity ratio 29.9%, rank 25Gumpens Auto Grenland AS: operating margin 1.3%, equity ratio 19.4%, rank 46Carglass AS: operating margin 1.3%, equity ratio 10.9%, rank 72Toyota Buskerud AS: operating margin 1.8%, equity ratio 26.3%, rank 58Toyota Asker og Bærum AS: operating margin 3.3%, equity ratio 25.8%, rank 28Frydenbø Bil Ålesund AS: operating margin 2.6%, equity ratio 15.0%, rank 44Dahles Auto Fredrikstad AS: operating margin 2.3%, equity ratio 31.9%, rank 13Bertel O Steen Rogaland AS: operating margin 2.8%, equity ratio 31.4%, rank 22Sulland Tromsø AS: operating margin 3.0%, equity ratio 17.7%, rank 41Team Verksted AS: operating margin 4.3%, equity ratio 28.3%, rank 12Motor-Trade AS: operating margin 0.7%, equity ratio 34.8%, rank 39Møller Bil Haugesund AS: operating margin 0.7%, equity ratio 13.9%, rank 54Naf AS: operating margin 4.4%, equity ratio 55.5%, rank 4BERTEL O. Steen Drammen AS: operating margin −1.8%, equity ratio 28.7%, rank 52Vegfinans E18 Vestfold AS: operating margin 23.7%, equity ratio 0.0%, rank 69Dahles Auto Sarpsborg AS: operating margin 2.0%, equity ratio 45.2%, rank 8BERTEL O. Steen Ullevål AS: operating margin 2.3%, equity ratio 35.6%, rank 32Gromstad Auto AS: operating margin 3.5%, equity ratio 20.4%, rank 21BERTEL O. Steen Trøndelag AS: operating margin −2.0%, equity ratio 52.3%, rank 37Werksta Norway AS: operating margin 3.0%, equity ratio 50.9%, rank 7Melhus Bil Trondheim AS: operating margin 2.6%, equity ratio 37.6%, rank 11Riis Montasje AS: operating margin 0.9%, equity ratio 17.7%, rank 63BERTEL O. Steen Agder AS: operating margin 1.2%, equity ratio 18.4%, rank 48Sulland Lier AS: operating margin 2.5%, equity ratio 18.3%, rank 30Sven Kvia AS: operating margin 1.3%, equity ratio 20.0%, rank 56Auto 8-8 Ålesund AS: operating margin 1.4%, equity ratio 27.4%, rank 38Fiskeri- og Havbruksnæringens Forskningsfinansiering AS: operating margin 3.8%, equity ratio 12.1%, rank 65Formula Automobile Norge AS: operating margin −0.2%, equity ratio 5.6%, rank 74Onitio Norge AS: operating margin −1.1%, equity ratio 74.5%, rank 40Bilia Insignia AS: operating margin 1.9%, equity ratio 7.9%, rank 67Snap Drive AS: operating margin 7.7%, equity ratio 17.5%, rank 36
Show the map's figures as a table
CompanyOperating marginEquity ratioRevenue
Nardo Bil AS4.6%46.1%1,694 MNOK
WIST LAST & Buss AS7.5%41.5%1,478 MNOK
Toyota Sør AS5.0%33.5%875 MNOK
Naf AS4.4%55.5%738 MNOK
Bilbutikk 1 AS3.1%35.9%1,327 MNOK
Bilia Norge AS2.9%59.0%6,518 MNOK
Werksta Norway AS3.0%50.9%658 MNOK
Dahles Auto Sarpsborg AS2.0%45.2%685 MNOK
Elis Norge AS10.6%59.1%902 MNOK
Menarmo AS2.2%48.1%1,135 MNOK
Melhus Bil Trondheim AS2.6%37.6%643 MNOK
Team Verksted AS4.3%28.3%759 MNOK
Dahles Auto Fredrikstad AS2.3%31.9%772 MNOK
BERTEL O. Steen Bergen AS2.1%30.3%1,404 MNOK
Bertel O Steen Østfold AS0.4%38.6%973 MNOK
BERTEL O. Steen Innlandet AS0.1%40.5%841 MNOK
Volmax AS3.4%35.8%1,306 MNOK
Kverneland Bil Vest AS3.9%20.3%1,695 MNOK
Gumpens Auto Vest AS3.2%19.2%838 MNOK
Frydenbø Bil Asv AS3.9%15.0%1,074 MNOK
Gromstad Auto AS3.5%20.4%680 MNOK
Bertel O Steen Rogaland AS2.8%31.4%770 MNOK
Jæger Automobil AS2.3%37.9%902 MNOK
Frydenbø Bil Vpl AS5.3%15.1%2,852 MNOK
Nordic Last og Buss AS5.5%29.9%821 MNOK
Møller Bil Innlandet AS2.1%15.1%2,534 MNOK
Yes-EU AS5.5%8.7%2,706 MNOK
Toyota Asker og Bærum AS3.3%25.8%780 MNOK
Møller Bil Bergen AS2.6%15.1%2,784 MNOK
Sulland Lier AS2.5%18.3%608 MNOK
BERTEL O. Steen Lørenskog AS0.6%35.6%1,942 MNOK
BERTEL O. Steen Ullevål AS2.3%35.6%681 MNOK
Ruter AS0.3%34.8%13,879 MNOK
Bertel O Steen Asker og Bærum AS0.2%50.7%863 MNOK
Møller Bil Vestfold AS4.0%15.0%1,579 MNOK
Snap Drive AS7.7%17.5%503 MNOK
BERTEL O. Steen Trøndelag AS−2.0%52.3%668 MNOK
Auto 8-8 Ålesund AS1.4%27.4%584 MNOK
Motor-Trade AS0.7%34.8%759 MNOK
Onitio Norge AS−1.1%74.5%518 MNOK
Sulland Tromsø AS3.0%17.7%762 MNOK
Møller Bil Øst AS2.2%15.1%4,390 MNOK
Nor Tekstil AS10.2%18.8%2,151 MNOK
Frydenbø Bil Ålesund AS2.6%15.0%779 MNOK
Agder Kollektivtrafikk AS−0.6%36.4%1,217 MNOK
Gumpens Auto Grenland AS1.3%19.4%815 MNOK
Volvo Norge AS4.7%13.3%2,572 MNOK
BERTEL O. Steen Agder AS1.2%18.4%618 MNOK
Vegamot AS94.8%0.0%2,494 MNOK
Toyota Oslo AS1.2%26.5%1,501 MNOK
Ferde AS94.1%0.2%5,097 MNOK
BERTEL O. Steen Drammen AS−1.8%28.7%709 MNOK
Fjellinjen AS93.1%2.4%5,014 MNOK
Møller Bil Haugesund AS0.7%13.9%743 MNOK
Møller Bil Sør-Rogaland AS1.9%11.9%2,069 MNOK
Sven Kvia AS1.3%20.0%589 MNOK
Tet Digital AS−0.6%26.5%833 MNOK
Toyota Buskerud AS1.8%26.3%789 MNOK
BERTEL O. Steen Vestfold og Telemark AS0.2%25.7%963 MNOK
Bil-Service AS0.7%22.0%2,107 MNOK
Norsk Scania AS13.9%2.4%8,793 MNOK
Møller Bil Vest AS0.1%15.3%3,469 MNOK
Riis Montasje AS0.9%17.7%626 MNOK
Birger N Haug AS−0.7%36.2%2,645 MNOK
Fiskeri- og Havbruksnæringens Forskningsfinansiering AS3.8%12.1%545 MNOK
Helseplattformen AS7.7%−22.7%1,013 MNOK
Bilia Insignia AS1.9%7.9%507 MNOK
Kolumbus AS−2.9%43.2%2,418 MNOK
Vegfinans E18 Vestfold AS23.7%0.0%705 MNOK
Atb AS−0.6%13.8%3,307 MNOK
Røhneselmer AS−0.6%16.1%2,556 MNOK
Carglass AS1.3%10.9%814 MNOK
Kverneland Bil AS0.1%14.5%2,039 MNOK
Formula Automobile Norge AS−0.2%5.6%537 MNOK
Nordvik AS0.1%18.5%1,238 MNOK

Holding and investment companies · 2025

85 companies in the sector are holding or investment companies. They are kept out of the ranking above, since revenue, margins and growth say little about a company that lives from ownership. They are ranked on their own here: 30 have at least 10 MNOK in assets and are listed.

Holding and investment companies
RankCompanyScore Equity ratioReturn on assetsCurrent ratioTotal assets
1Kork Holding AS90 99.6%46.4% 127.9729 MNOK
2Bjørkeli Invest AS88 96.6%87.4% 26.5212 MNOK
3Pmh Holding AS81 96.2%56.5% 24.1927 MNOK
4Bml Holding AS79 97.9%20.8% 42.3445 MNOK
5Welhaven Jr Holding AS72 95.5%26.6% 20.7223 MNOK
6Linda Maaseide Holding AS70 72.3%51.3% 1,644.4019 MNOK
7Wester Capital AS68 80.7%68.5% 3.9658 MNOK
8Swimming Holding AS68 99.8%3.8% 14.3125 MNOK
9Klipperiet Holding AS63 95.6%15.0% 5.06101 MNOK
10Monte Holding AS61 99.3%0.0% 98.4411 MNOK
11Idar Dahl Holding AS61 96.8%3.0% 23.4412 MNOK
12Idulie Holding AS59 62.1%57.9% 2.1411 MNOK
13Jay O Invest AS59 95.5%9.6% 20.01241 MNOK
14Andøy Energi Holding AS53 96.7%2.1% 5.23241 MNOK
15Cattor Holding AS50 77.0%17.0% 1.7720 MNOK
16Norsvin Invest AS46 99.8%−0.5% 0.9415 MNOK
17Beth's Beauty Holding AS45 95.2%12.8% 0.16177 MNOK
18Storbilvasken Holding AS44 37.9%32.5% 0.9911 MNOK
19Batteri Elektro Holding AS43 40.1%26.0% 1.4619 MNOK
20Bjørndalen Invest AS41 80.9%13.6% 0.0555 MNOK
Show all 30
RankCompanyScoreTotal assets
21Steinkjer Bil Holding AS3741 MNOK
22Motor-Trade Holding AS34172 MNOK
23Langørgen Holding AS2973 MNOK
24Storslett Holding AS2913 MNOK
25Kverneland Investering AS26553 MNOK
26B. Johansen Holding AS2551 MNOK
27Auto 8-8 Holding AS2596 MNOK
28Dahle Holding AS24113 MNOK
29An-Holding AS2021 MNOK
30Egrøb Holding AS1010 MNOK

Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology

Ownership structure (2025)

Companies with shareholder data
9,746
Companies with one owner
69%
Companies where one owner holds more than half
79%
Split
companies 26% · private persons 73% · foreign 1%
Owned from the same municipality
80%
Owners over 60 (average per company)
28%
Ownership change 2007–2025
63% of the companies had a change in owners · majority owner changed in 44.0% · new foreign majority in 0.1%

Average per company, not weighted by size. 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.

Who owns the sector

The 2,314 ranked companies in 2025, weighted by revenue and split by who sits at the top of the chain of majority owners in the shareholder register for 2025.

Who owns the sector
Top of the ownership chainShare of revenueCompanies
Norwegian company without a majority owner46%396
Not in the shareholder register20%48
Foreign owners15%42
Private persons14%1,326
No majority owner6%501
The state, counties and municipalities0%1

The five largest owner groups hold 26% of the sector's revenue.

The largest owner groups

  1. Møller Mobility Group AS · 8.5% of revenue, 8 companies (norwegian company without a majority owner)
  2. BERTEL O. Steen Holding AS · 6.5% of revenue, 17 companies (norwegian company without a majority owner)
  3. Scania Sales and Services AB · 4.8% of revenue, 1 companies (foreign owners)
  4. Bilia AB · 3.9% of revenue, 3 companies (foreign owners)
  5. Frydenbø Group AS · 2.7% of revenue, 5 companies (norwegian company without a majority owner)
  6. Sulland Holding AS · 2.6% of revenue, 18 companies (norwegian company without a majority owner)
  7. Bauda AS · 2.1% of revenue, 5 companies (norwegian company without a majority owner)
  8. Kverneland Investering AS · 2.0% of revenue, 2 companies (norwegian company without a majority owner)
  9. Bil-Service Holding AS · 1.8% of revenue, 3 companies (norwegian company without a majority owner)
  10. Bjørndalen Invest AS · 1.7% of revenue, 8 companies (norwegian company without a majority owner)

The chain is followed while the owner holds more than half of the shares. Persons are never named. Public ownership is recognised by the owner's name (the state, a ministry, a county, a municipality). The ownership is from the shareholder register for 2025 and may have changed since. Source: the Norwegian Tax Administration's shareholder register and annual accounts from the Brønnøysund Register Centre.

In our articles

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Scenario analysis: the sector's weakest year

The sector's weakest year was 2022, with a median operating margin of 0.2%.

Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal yearMedian operating marginMedian equity ratio
2018––
2019––
2020––
2021––
2022 · weakest year0.2%14.9%
20233.8%28.3%
20243.6%30.1%
20253.8%29.8%
20260.9%22.6%

In 2022, 6 ranked companies did better than the sector, 3 about the same and 8 weaker.

Held up best in 2022

  1. 1Villa Granli ASequity ratio 55.6%66.5%
  2. 2Shekhy ASequity ratio 25.4%37.7%
  3. 3Service 24 ASequity ratio 62.5%17.4%
  4. 4Hadeland Bobil ASequity ratio 1.6%2.9%
  5. 5Vinderen Rens ASequity ratio 6.9%2.7%
  6. 6Skedsmo Lakk og Karosseri ASequity ratio 33.5%2.2%

Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology

Drivers in the sector

Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.

Consumer price index (indeks (2025 = 100))

Latest value: 104.0 (2026M09)

Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 0.2 percentage points.

Consumer price index per year and the sector's median operating margin
Measure202120222023202420252026
Consumer price index, annual average84.389.294.197.0100.0102.9 (so far)
Change from the year before+3.5%+5.8%+5.5%+3.2%+3.0%+2.9%
Sector's median operating margin–0.2%3.8%3.6%3.8%0.9%

Source: SSB (14710, CC BY 4.0). Source · fetched 5 November 2026

Policy rate (prosent)

Latest value: 4.50 (2026-10)

Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 0.2 percentage points.

Policy rate per year and the sector's median operating margin
Measure202120222023202420252026
Policy rate, annual average0.081.323.544.504.304.17 (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
Sector's median operating margin–0.2%3.8%3.6%3.8%0.9%

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 5 November 2026

When policy rate fell in 2025, 1,172 of 2,262 ranked companies kept their operating margin at or above the year before. Among the largest: Norsk Scania AS (11.3% → 13.9%), Bilia Norge AS (2.1% → 2.9%), Ferde AS (93.8% → 94.1%), Fjellinjen AS (92.8% → 93.1%), Møller Bil Øst AS (1.9% → 2.2%).

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.

The sector in Norway (SSB)

The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.

Enterprises, employment and turnover · 2024

Enterprises
18,232
+2.1% from 2023
Persons employed
29,837
+1.8% from 2023
Turnover
NOK 27.1 bn
+6.5% from 2023
Gross operating margin
17.9%
Gross operating surplus divided by turnover

All enterprises, sole proprietorships included. The table has no figures for 84, 94, 97, 98, 99.

Bankruptcies in the industry

88 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −11.1% against the four quarters before (99).

242024K4342025K1272025K2142025K3142025K4202026K1272026K2272026K3

Source: Statistics Norway (SSB), table 12910, table 10790. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.

Outlook: SSB's figures for the industry and the macro picture

Statistics Norway's own statistics for the whole industry and the companies' expectations, where SSB has them, and SSB's forecasts for the Norwegian economy. Actual figures and expectations are kept apart.

SSB has no separate turnover, investment or business tendency statistics for this sector. The macro picture covers the whole economy.

SSB's forecasts

Statistics Norway's economic forecasts (table 12880), published 15 September 2026. Marked years are forecasts.

SSB's forecasts
20252026forecast2027forecast2028forecast2029forecast
GDP mainland Norway1.7 %1.4 %2.1 %1.5 %1.9 %
Unemployment rate (LFS, level)4.5 %4.6 %4.4 %4.3 %4.2 %
Consumer price index3.1 %3.2 %2.5 %2.2 %2.1 %
Money market rate (level)4.4 %4.5 %4.6 %4.0 %3.8 %
Household consumption2.6 %1.4 %2.1 %2.4 %2.9 %
Annual wages4.9 %4.3 %3.7 %3.4 %3.0 %

SSB's forecast for the current and coming years. Per cent change from the year before, level where stated. table 12880, CC BY 4.0.

Latest bankruptcies and liquidations

All bankruptcies and liquidations in the sector

Industry codes (NACE)

CodeDescription
84*Hele hovedgruppe 84
84.110Generell offentlig administrasjon
84.120Offentlig administrasjon tilknyttet helsestell, undervisning, kultur og annen sosial virksomhet
84.130Offentlig administrasjon tilknyttet næringsvirksomhet og arbeidsmarked
84.220Forsvarsaktiviteter
84.250Brannvernaktiviteter
94*Hele hovedgruppe 94
94.110Aktiviteter i næringslivs- og arbeidsgiverorganisasjoner
94.120Aktiviteter i yrkessammenslutninger
94.200Aktiviteter i arbeidstakerorganisasjoner
94.910Aktiviteter i religiøse organisasjoner
94.920Aktiviteter i partipolitiske organisasjoner
94.991Aktiviteter i fond/legat som støtter veldedige og allmennyttige formål
94.992Aktiviteter i andre medlemsorganisasjoner ellers
95*Hele hovedgruppe 95
95.100Reparasjon og vedlikehold av datamaskiner og kommunikasjonsutstyr
95.210Reparasjon og vedlikehold av elektronikk til husholdningsbruk
95.220Reparasjon og vedlikehold av husholdningsvarer og hageredskaper
95.230Reparasjon og vedlikehold av skotøy og lærvarer
95.240Reparasjon og vedlikehold av møbler og boliginnredning
95.250Reparasjon og vedlikehold av ur, klokker og smykker
95.290Reparasjon og vedlikehold av andre husholdningsvarer og varer til personlig bruk ikke nevnt annet sted
95.310Reparasjon og vedlikehold av motorvogner
95.320Reparasjon og vedlikehold av motorsykler
95.400Formidlingstjenester tilknyttet reparasjon og vedlikehold av datamaskiner, husholdningsvarer og varer til personlig bruk, og motorvogner og motorsykler
96*Hele hovedgruppe 96
96.100Vaskeri- og renserivirksomhet
96.210Frisering og barbering
96.220Skjønnhetspleie
96.230Aktiviteter i dagspa, badstue og dampbad
96.300Begravelsesbyråvirksomhet og lignende tjenester
96.400Formidlingstjenester tilknyttet personlig tjenesteyting
96.910Personlig tjenesteyting i husholdninger
96.990Andre personlige tjenester ikke nevnt annet sted
97*Hele hovedgruppe 97
97.001Aktiviteter i borettslag og boligsameier
98*Hele hovedgruppe 98
99*Hele hovedgruppe 99