Construction
FollowDownload sector report (PDF)19,473 companies ranked against comparable companies in four Morning company classes. Fiscal year 2024. Source: Brønnøysund Register Centre. Methodology
Ranking · 2024 · Morning class Large
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
- INFRANORD NORGE AS−65
From 2023 to 2024: the operating margin fell from 14.0% to −14.9% and went from a profit to a loss before tax.
- BLUE TERN OPERATIONS AS+55
From 2023 to 2024: the operating margin rose from 0.4% to 11.1% and the equity ratio rose from 20.0% to 42.6%.
- TRANSTEMA NORGE AS−41
From 2023 to 2024: went from a profit to a loss before tax and the operating margin fell from 6.8% to −2.9%.
- NYE VEIER AS−39
From 2023 to 2024: went from a profit to a loss before tax and the operating margin fell from 5.5% to −12.2%.
Top lists in the sector · 2024 · Morning class Large
The five largest companies account for 25% of the sector's revenue. Combined profit before tax for the 145 ranked companies: 8,897 MNOK.
Highest revenue
- VEIDEKKE ENTREPRENØR ASsubsidiary of Veidekke ASA 15,802 MNOK
- SKANSKA NORGE AS 15,014 MNOK
- DESIGNER GROUP NORWAY AS 13,475 MNOK
- HENT AS 9,004 MNOK
- NYE VEIER AS 8,452 MNOK
Operating revenue.
Highest operating margin
- GJELSTEN HOLDING AS 50.9%
- ALGECO NORWAY AS 18.4%
- CONSTRUCTION CITY BYGG AS 14.0%
- BMO ENTREPRENØR ASsubsidiary of ENDÚR ASA 13.9%
- PRESIS VEGDRIFT AS 13.6%
Operating result divided by operating revenue.
Largest profit
- SKANSKA NORGE AS 1,360 MNOK
- VEIDEKKE ENTREPRENØR ASsubsidiary of Veidekke ASA 906 MNOK
- AF GRUPPEN NORGE ASsubsidiary of AF GRUPPEN ASA 686 MNOK
- HENT AS 640 MNOK
- BRAVIDA NORGE AS 348 MNOK
Profit before tax.
Largest loss
- NYE VEIER AS −859 MNOK
- CAVERION NORGE AS −262 MNOK
- PEAB BYGG AS −189 MNOK
- DESIGNER GROUP NORWAY AS −160 MNOK
- ELTEL NETWORKS AS −137 MNOK
Profit before tax, the largest negative.
Most solid
- GJELSTEN HOLDING AS 58.5%
- JOHS J SYLTERN AS 57.7%
- ALGECO NORWAY AS 55.8%
- BRYN BYGGKLIMA AS 52.0%
- AF ELKRAFT AS 49.5%
Equity ratio: equity divided by total assets.
Fastest growth
- CONSTO AS +2,665.1%
- VARME & BAD AS +1,348.6%
- DESIGNER GROUP NORWAY AS +561.4%
- SEAWAY 7 MANAGEMENT AS +367.4%
- ROMARHEIM ENTREPRENØR AS +133.4%
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
- SELTOR AS −40.6%
- ØMF ROMERIKE KONGSVINGER AS −33.3%
- ØMF ASKER RINGERIKE AS −27.8%
- HÅNDVERKSKOMPANIET AS −25.1%
- CONTUR AS −24.5%
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
- BLUE TERN OPERATIONS AS +55.6 points
- RECOVER AS +38.7 points
- ECONOR AS +35.0 points
- FIRESAFE AS +31.9 points
- SEAWAY ALFA LIFT AS +30.4 points
Change in index points from the year before.
Biggest fallers
- INFRANORD NORGE AS −65.3 points
- TRANSTEMA NORGE AS −41.1 points
- PEAB BYGG AS −39.6 points
- NYE VEIER AS −39.2 points
- HAB CONSTRUCTION AS −37.4 points
Change in index points from the year before.
Most employees
- BRAVIDA NORGE AS 3,375
- VEIDEKKE ENTREPRENØR ASsubsidiary of Veidekke ASA 2,925
- SKANSKA NORGE AS 2,918
- GK NORGE ASsubsidiary of GK GRUPPEN AS 1,845
- CAVERION NORGE AS 1,821
Employees according to the Central Coordinating Register.
Highest revenue per employee
- GJELSTEN HOLDING AS 101.2 MNOK
- NYE VEIER AS 44.5 MNOK
- THERMICA AS 29.5 MNOK
- CTS NORDICS AS 24.9 MNOK
- VEDAL ENTREPRENØR AS 21.5 MNOK
Only companies with at least 5 employees.
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.
Positions in the sector · 2024 · 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.
Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2023 (small ring).
- INFRANORD NORGE AS profitability 96 → 2, solidity 86 → 44
- BLUE TERN OPERATIONS AS profitability 26 → 93, solidity 36 → 93
- RECOVER AS profitability 43 → 62, solidity 18 → 92
- STØ ENTREPRENØR AS profitability 73 → 3, solidity 39 → 17
- CONSOLVO AS profitability 20 → 75, solidity 83 → 35
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
Summary · fiscal year 2024 · Morning class Large
The sector's median operating margin is 4.0%. 1 of 150 companies have negative equity. The median equity ratio is 23.7%.
All figures are for fiscal year 2024. Ranked: 148 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index
The total counts each group once: 3 subsidiaries (4,714 MNOK in revenue) are left out of totals and size lists because their parent in the sector has at least as much revenue, so their sales can run through the parent. They are ranked as usual. Methodology
- 4 companies report in another currency. Their revenue is converted at the mean rate for the accounting period and makes up 8% of the total.
Climbers and fallers · Morning class Large
Change in rank from 2023 to 2024, for 127 companies ranked in both years.
Climbers
- 120BLUE TERN OPERATIONS ASfrom rank 126 to 682
- 95RECOVER ASfrom rank 123 to 2866
- 84ECONOR ASfrom rank 131 to 4759
- 75FIRESAFE ASfrom rank 135 to 6053
- 73METROSTAV NORGE ASfrom rank 117 to 4460
Fallers
- 134INFRANORD NORGE ASfrom rank 4 to 13825
- 102PEAB BYGG ASfrom rank 23 to 12533
- 97NYE VEIER ASfrom rank 16 to 11336
- 96HAB CONSTRUCTION ASfrom rank 20 to 11635
- 93AF DECOM ASfrom rank 39 to 13228
Awards · 2024 · Morning class Large
Needs attention · 2024 · Morning class Large
48 companies show at least one warning sign. Showing the 15 most important.
- criticalDESIGNER GROUP NORWAY ASNegative equity · Current ratio below 1 (0.91) · Loss before tax
- watchBERTELSEN & GARPESTAD ASVery low equity ratio (1.0%) · Current ratio below 1 (0.93) · Loss before tax
- watchELTEL NETWORKS ASVery low equity ratio (3.8%) · Current ratio below 1 (0.96) · Loss before tax
- watchCTS NORDICS ASVery low equity ratio (1.3%) · Current ratio below 1 (0.94)
- watchSEAWAY 7 MANAGEMENT ASVery low equity ratio (0.1%) · Current ratio below 1 (1.00)
- watchSEAWAY ALFA LIFT ASCurrent ratio below 1 (0.20) · Loss before tax
- watchTRAFTEC ASCurrent ratio below 1 (0.82) · Loss before tax
- watchNETEL ASVery low equity ratio (7.4%) · Loss before tax
- watchNETTPARTNER ASCurrent ratio below 1 (0.77) · Loss before tax
- watchKELLER GEOTEKNIKK ASCurrent ratio below 1 (0.89) · Loss before tax
- watchOTERA INFRA ASCurrent ratio below 1 (0.86) · Loss before tax
- watchNYE VEIER ASLoss before tax
- watchCONSTO ASCurrent ratio below 1 (0.53)
- watchNCC NORGE ASLoss before tax
- watchCAVERION NORGE ASLoss before tax
Sector map · 2024 · 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.
Show the map's figures as a table
| Company | Operating margin | Equity ratio | Revenue |
|---|---|---|---|
| JOHS J SYLTERN AS | 9.3% | 57.7% | 905 MNOK |
| GJELSTEN HOLDING AS | 50.9% | 58.5% | 709 MNOK |
| ASKIM ENTREPRENØR AS | 9.6% | 35.0% | 503 MNOK |
| THERMICA AS | 9.0% | 31.2% | 561 MNOK |
| BRYN BYGGKLIMA AS | 7.1% | 52.0% | 836 MNOK |
| BLUE TERN OPERATIONS AS | 11.1% | 42.6% | 680 MNOK |
| BJELLAND AS | 7.8% | 33.8% | 556 MNOK |
| LYSTEKNIKK ELEKTROENTREPRENØR AS | 10.3% | 44.4% | 630 MNOK |
| HADELAND MASKINDRIFT AS | 8.8% | 38.4% | 524 MNOK |
| FABER BYGG AS | 7.6% | 36.8% | 591 MNOK |
| GRUDE BYGG AS | 7.8% | 28.3% | 548 MNOK |
| ANLEGG ØST ENTREPRENØR AS | 7.2% | 30.3% | 989 MNOK |
| SIG HALVORSEN AS | 10.8% | 29.1% | 523 MNOK |
| STRAYE STÅLBYGG AS | 9.0% | 29.2% | 690 MNOK |
| TT ANLEGG AS | 7.2% | 43.8% | 976 MNOK |
| CONSTRUCTION CITY BYGG AS | 14.0% | 30.0% | 1,004 MNOK |
| BMO ENTREPRENØR AS | 13.9% | 30.9% | 710 MNOK |
| ROMARHEIM ENTREPRENØR AS | 8.0% | 24.8% | 724 MNOK |
| REPSTAD ANLEGG AS | 9.1% | 26.2% | 534 MNOK |
| ENTREPRENØR HARALD NILSEN AS | 6.4% | 30.7% | 678 MNOK |
| AF ELKRAFT AS | 0.5% | 49.5% | 728 MNOK |
| STENSETH & RS ENTREPRENØR AS | 8.7% | 26.8% | 505 MNOK |
| RANDEM & HÜBERT AS | 7.6% | 26.6% | 607 MNOK |
| SARTOR & DRANGE AS | 10.2% | 32.5% | 895 MNOK |
| FRED. OLSEN WINDCARRIER OPERATIONS AS | 7.0% | 22.2% | 3,442 MNOK |
| ENTREPRENØRSERVICE AS | 5.7% | 35.7% | 1,117 MNOK |
| MARTHINSEN & DUVHOLT AS | 8.4% | 27.4% | 1,570 MNOK |
| RECOVER AS | 3.2% | 42.6% | 2,086 MNOK |
| URBAN REUSE NORWAY AS | 9.1% | 23.3% | 955 MNOK |
| OVE SKÅR AS | 7.0% | 25.1% | 947 MNOK |
| AKTIV BYGG AS | 6.2% | 31.5% | 536 MNOK |
| ALGECO NORWAY AS | 18.4% | 55.8% | 1,071 MNOK |
| HITACHI ENERGY NORWAY AS | −1.6% | 37.8% | 1,526 MNOK |
| ÅSEN & ØVRELID AS | 13.3% | 28.5% | 704 MNOK |
| N P BYGG AS | 5.6% | 23.6% | 1,093 MNOK |
| PRESIS VEGDRIFT AS | 13.6% | 20.3% | 2,584 MNOK |
| ALENTO AS | 5.5% | 30.7% | 727 MNOK |
| TOTAL BETONG AS | 7.0% | 29.1% | 1,573 MNOK |
| NORDASFALT AS | 2.8% | 41.6% | 571 MNOK |
| CO2OLTEC COMMERCIAL REFRIGERATION NORWAY AS | 1.9% | 46.7% | 506 MNOK |
| KJELDAAS AS | 3.6% | 32.5% | 519 MNOK |
| AERON AS | 6.4% | 22.1% | 565 MNOK |
| HERSLETH ENTREPRENØR AS | 4.3% | 24.4% | 524 MNOK |
| METROSTAV NORGE AS | 4.6% | 23.9% | 1,114 MNOK |
| CONSTO ANLEGG ØST AS | 6.9% | 20.6% | 569 MNOK |
| MESTA AS | 3.8% | 36.7% | 6,458 MNOK |
| ECONOR AS | 4.3% | 24.9% | 1,227 MNOK |
| PEAB ANLEGG AS | 1.6% | 28.6% | 1,369 MNOK |
| RISA AS | 3.5% | 29.3% | 2,129 MNOK |
| LEONHARD NILSEN & SØNNER AS | 1.9% | 32.8% | 2,358 MNOK |
| STANGELAND MASKIN AS | 5.1% | 24.8% | 2,363 MNOK |
| CRANE NORWAY VEST AS | 11.8% | 19.3% | 892 MNOK |
| BRAVIDA NORGE AS | 5.2% | 25.2% | 5,784 MNOK |
| SPENNARMERING AS | 2.7% | 36.4% | 664 MNOK |
| KAPH ENTREPRENØR AS | 10.3% | 15.7% | 571 MNOK |
| STRØM GUNDERSEN AS | 7.9% | 22.9% | 545 MNOK |
| CONSOLVO AS | 6.7% | 20.5% | 738 MNOK |
| SKANSKA NORGE AS | 2.4% | 29.0% | 15,014 MNOK |
| BICO BYGG OG INNREDNING AS | 5.7% | 21.5% | 788 MNOK |
| FIRESAFE AS | 4.1% | 25.1% | 990 MNOK |
| VASSBAKK & STOL AS | 6.3% | 23.8% | 2,988 MNOK |
| NORDIC CRANE AS | 4.9% | 25.6% | 614 MNOK |
| JI BYGG AS | 4.2% | 22.3% | 1,244 MNOK |
| BACKE ROMERIKE AS | 5.7% | 20.3% | 868 MNOK |
| VARME & BAD AS | −7.9% | 34.8% | 1,306 MNOK |
| JM NORGE AS | 0.2% | 35.9% | 2,076 MNOK |
| HÅNDVERKSKOMPANIET AS | 5.4% | 25.6% | 657 MNOK |
| SITE SERVICE AS | 2.8% | 42.7% | 522 MNOK |
| VEDAL ENTREPRENØR AS | 3.6% | 18.5% | 2,948 MNOK |
| Arne Olav Lund A/S | 7.6% | 16.5% | 537 MNOK |
| ELIQUO PMI AS | 5.2% | 17.1% | 651 MNOK |
| GEO FUNDAMENTERING & BERGBORING AS | 1.4% | 29.0% | 610 MNOK |
| HÆHRE ENTREPRENØR AS | 3.3% | 20.7% | 4,716 MNOK |
| BETONMAST BUSKERUD-VESTFOLD AS | 5.0% | 6.4% | 849 MNOK |
| HENT AS | 5.7% | 23.3% | 9,004 MNOK |
| SOTRA LINK AS | 1.8% | 8.9% | 3,656 MNOK |
| ÅSANE BYGGMESTERFORRETNING AS | 9.9% | 13.4% | 594 MNOK |
| INFRATEK NORGE AS | 5.5% | 29.8% | 901 MNOK |
| SEBY AS | 3.4% | 18.9% | 568 MNOK |
| KRAFTMONTASJE AS | −1.2% | 31.9% | 614 MNOK |
| ØMF ROMERIKE KONGSVINGER AS | 3.6% | 22.6% | 716 MNOK |
| BETONMAST RØSAND AS | 6.6% | 7.7% | 536 MNOK |
| VEIDEKKE ENTREPRENØR AS | 2.9% | 23.2% | 15,802 MNOK |
| BUNDEBYGG AS | 1.0% | 29.7% | 792 MNOK |
| AF GRUPPEN NORGE AS | 6.3% | 20.1% | 8,211 MNOK |
| TRANSTEMA NORGE AS | −2.9% | 40.8% | 528 MNOK |
| SØBSTAD AS | 2.3% | 21.9% | 674 MNOK |
| JÆRENTREPRENØR AS | 2.0% | 29.1% | 592 MNOK |
| POB ENTREPRENØR AS | 8.4% | 15.8% | 1,149 MNOK |
| SYLJUÅSEN AS | 7.7% | 14.5% | 841 MNOK |
| SOLID ENTREPRENØR AS | −0.6% | 28.4% | 1,234 MNOK |
| SEAWAY 7 MANAGEMENT AS | 8.5% | 0.1% | 2,732 MNOK |
| GK NORGE AS | 2.1% | 20.5% | 4,736 MNOK |
| ØMF ASKER RINGERIKE AS | 3.1% | 20.2% | 715 MNOK |
| BRG ENTREPRENØR AS | 5.0% | 17.9% | 979 MNOK |
| BANESERVICE AS | 3.2% | 24.1% | 2,079 MNOK |
| ASSA ABLOY ENTRANCE SYSTEMS NORWAY AS | 1.6% | 29.2% | 517 MNOK |
| HELGESEN TEKNISKE BYGG AS | 5.0% | 13.7% | 744 MNOK |
| ENERGIMA AS | 8.5% | 14.4% | 898 MNOK |
| WK ENTREPRENØR AS | 2.7% | 21.4% | 615 MNOK |
| OCAB AS | 6.0% | 11.2% | 1,726 MNOK |
| CONSTO AS | −0.8% | 26.0% | 4,845 MNOK |
| ASSEMBLIN AS | 2.9% | 16.7% | 1,849 MNOK |
| CHRISTIE NORDANG AS | 4.2% | 15.0% | 857 MNOK |
| TRYSILBYGG AS | 0.0% | 32.7% | 659 MNOK |
| MUR I SØR AS | 11.9% | 11.0% | 710 MNOK |
| BACKE STOR-OSLO AS | 3.9% | 16.4% | 1,010 MNOK |
| ONECO ELEKTRO AS | 2.0% | 21.7% | 1,602 MNOK |
| IMPLENIA NORGE AS | 2.2% | 27.1% | 3,648 MNOK |
| NSE INDUSTRIER AS | 6.3% | 7.3% | 623 MNOK |
| AARSLEFF RAIL AS | 0.8% | 24.9% | 540 MNOK |
| GRANDE ENTREPRENØR AS | 1.7% | 20.2% | 570 MNOK |
| NYE VEIER AS | −12.2% | 23.9% | 8,452 MNOK |
| PARK & ANLEGG AS | −2.7% | 23.5% | 1,043 MNOK |
| SEAWAY ALFA LIFT AS | 10.7% | 10.4% | 1,986 MNOK |
| HAB CONSTRUCTION AS | 0.6% | 22.6% | 931 MNOK |
| KONE AKSJESELSKAP | 4.6% | 10.4% | 886 MNOK |
| RUTA ENTREPRENØR AS | 1.3% | 11.5% | 1,853 MNOK |
| NRC NORGE AS | −3.4% | 25.5% | 1,443 MNOK |
| NETTPARTNER AS | −2.1% | 43.1% | 887 MNOK |
| BETONMAST TRØNDELAG AS | −0.8% | 6.7% | 690 MNOK |
| LAJE AS | 1.0% | 25.8% | 719 MNOK |
| CONTUR AS | 4.5% | 15.9% | 941 MNOK |
| GL PROSJEKTSERVICE AS | −0.8% | 16.5% | 811 MNOK |
| PEAB BYGG AS | −9.5% | 25.6% | 1,989 MNOK |
| NETEL AS | 0.1% | 7.4% | 927 MNOK |
| LAB ENTREPRENØR AS | 1.1% | 18.7% | 1,234 MNOK |
| STS-ISONOR AS | 0.5% | 19.9% | 768 MNOK |
| LEIF GRIMSRUD AS | 2.1% | 24.2% | 753 MNOK |
| ISACHSEN ANLEGG AS | 1.1% | 15.2% | 1,240 MNOK |
| SVEVIA NORGE AS | 0.4% | 20.6% | 906 MNOK |
| AF DECOM AS | 3.3% | 11.4% | 642 MNOK |
| BACKE ROGALAND AS | 2.6% | 17.2% | 1,347 MNOK |
| SELTOR AS | 0.1% | 20.2% | 788 MNOK |
| STØ ENTREPRENØR AS | −7.7% | 15.4% | 935 MNOK |
| KELLER GEOTEKNIKK AS | −1.5% | 16.3% | 795 MNOK |
| BACKE ØSTFOLD AS | −8.0% | 21.0% | 557 MNOK |
| INFRANORD NORGE AS | −14.9% | 22.4% | 714 MNOK |
| CTS NORDICS AS | 2.0% | 1.3% | 6,051 MNOK |
| NCC NORGE AS | −3.8% | 17.3% | 4,323 MNOK |
| ONECO NETWORKS AS | −2.9% | 19.6% | 1,656 MNOK |
| DESIGNER GROUP NORWAY AS | −1.2% | −9.9% | 13,475 MNOK |
| HYWER AS | −18.2% | 13.2% | 598 MNOK |
| VELDE ASFALT AS | 0.5% | 10.0% | 1,239 MNOK |
| CAVERION NORGE AS | −7.5% | 15.6% | 4,106 MNOK |
| OTERA INFRA AS | −6.4% | 16.8% | 595 MNOK |
| TRAFTEC AS | −4.1% | 12.5% | 1,000 MNOK |
| ELTEL NETWORKS AS | −9.5% | 3.8% | 1,338 MNOK |
Scenario analysis: the sector's weakest year
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.
| Fiscal year | Median operating margin | Median equity ratio |
|---|---|---|
| 2017 | – | – |
| 2018 | – | – |
| 2019 | – | – |
| 2020 | – | – |
| 2021 · weakest year | 1.8% | 35.9% |
| 2022 | 2.4% | 14.0% |
| 2023 | 4.4% | 33.2% |
| 2024 | 4.1% | 33.3% |
| 2025 | 4.0% | 32.9% |
| 2026 | 7.8% | 28.8% |
In 2021, 1 ranked companies did better than the sector, 0 about the same and 0 weaker.
Held up best in 2021
- 1OMRÅDESIKRING ASequity ratio 35.9%1.8%
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.
Construction cost index for dwellings (indeks (2015 = 100))
Construction cost index for dwellings rose 4.3% in 2025; the sector's median operating margin fell 0.1 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% |
| Sector's median operating margin | 1.8% | 2.4% | 4.4% | 4.1% | 4.0% | 7.8% |
Source: SSB (08651, CC BY 4.0). Source · fetched 1 November 2026
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin fell 0.1 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.14 (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 | −0.16 percentage points |
| Sector's median operating margin | 1.8% | 2.4% | 4.4% | 4.1% | 4.0% | 7.8% |
Source: Norges Bank (IR, NLOD 2.0). Source · fetched 1 November 2026
When policy rate fell in 2025, 9,387 of 19,433 ranked companies kept their operating margin at or above the year before. Among the largest: VEIDEKKE ENTREPRENØR AS (2.9% → 3.5%), SKANSKA NORGE AS (2.4% → 2.7%), HENT AS (5.7% → 5.9%), NYE VEIER AS (−12.2% → −5.5%), NCC NORGE AS (−3.8% → 0.6%).
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
- 59,444
- −1.1% from 2023
- Persons employed
- 267,499
- −2.7% from 2023
- Turnover
- NOK 757.6 bn
- +0.0% from 2023
- Gross operating margin
- 6.8%
- Gross operating surplus divided by turnover
All enterprises, sole proprietorships included.
Bankruptcies in the industry
854 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −11.3% against the four quarters before (963). That is about 14.4 per 1,000 enterprises.
Foreign-controlled enterprises · 2024
- Share of enterprises
- 1.7%
- Share of persons employed
- 14.7%
- Share of turnover
- 18.6%
SSB publishes this for groups of industries only. The figures are for the group “Bygge- og anleggsvirksomhet”.
Production index · Bygge- og anleggsvirksomhet
96.8 index, 2021 = 100, seasonally adjusted · 2026M09
−0.9% against 2025M09.
Monthly, 2023M09 to 2026M09.
Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 13430. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.
Latest bankruptcies and liquidations
- BERKON AS 816349982 Voluntary liquidation · 31 October 2026 · 6 MNOK (2025)
- BORGMUR AS 915230881 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
- BREDBÅND OG KABELTV AS 981002431 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- BYGGMESTER TOM ARIANSEN AS 989177699 Voluntary liquidation · 31 October 2026
- BYGGUTVIKLING OG EIENDOM AS 919598255 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- CELS AS 930079537 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- CHRISTIANSEN BYGG AS 997330463 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
- CRAS - ELEKTRO AS 921087551 Voluntary liquidation · 31 October 2026 · 3 MNOK (2025)
Industry codes (NACE)
| Code | Description |
|---|---|
| 41* | Oppføring av bygninger (hele hovedgruppen) |
| 41.000 | Oppføring av bygninger |
| 42* | Anleggsvirksomhet (hele hovedgruppen) |
| 42.110 | Bygging av veier og motorveier |
| 42.120 | Bygging av jernbaner og undergrunnsbaner |
| 42.130 | Bygging av broer og tunneler |
| 42.210 | Bygging av vann- og kloakkanlegg |
| 42.221 | Bygging av anlegg for elektrisitet og telekommunikasjon til sjøs |
| 42.222 | Bygging av anlegg for elektrisitet og telekommunikasjon på land |
| 42.910 | Bygging av havne- og damanlegg |
| 42.990 | Bygging av andre anlegg ikke nevnt annet sted |
| 43* | Spesialisert bygge- og anleggsvirksomhet (hele hovedgruppen) |
| 43.110 | Riving av bygninger og andre byggverk |
| 43.120 | Grunnarbeid |
| 43.130 | Prøveboring |
| 43.210 | Elektrisk installasjonsarbeid |
| 43.221 | Rørleggerarbeid |
| 43.222 | Kuldeanlegg-, varmepumpearbeid og installasjon av peiser |
| 43.223 | Ventilasjonsarbeid |
| 43.230 | Installasjon av isoleringsmateriale |
| 43.240 | Annet installasjonsarbeid |
| 43.310 | Stukkatørarbeid og pussing |
| 43.320 | Snekkerarbeid |
| 43.330 | Gulvlegging og tapetsering |
| 43.340 | Maler- og glassarbeid |
| 43.350 | Annen ferdiggjøring av bygninger |
| 43.410 | Takarbeid |
| 43.420 | Annen spesialisert byggevirksomhet i forbindelse med oppføring av bygninger |
| 43.500 | Spesialisert byggevirksomhet i forbindelse med anleggsarbeid |
| 43.600 | Formidlingstjenester innenfor spesialisert bygge- og anleggsvirksomhet |
| 43.910 | Murerarbeid |
| 43.990 | Annen spesialisert bygge- og anleggsvirksomhet ikke nevnt annet sted |