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FollowDownload sector report (PDF)2,304 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
- Vivicta AS−43
From 2023 to 2024: the operating margin fell from 0.2% to −13.5% and the equity ratio fell from 43.4% to 14.7%.
- Pexip AS+39
From 2023 to 2024: the operating margin rose from −31.2% to 9.8% and went from a loss to a profit before tax.
- Dips AS+35
From 2023 to 2024: the operating margin rose from 1.8% to 11.8% and the equity ratio rose from 31.7% to 40.3%.
- Bitdeer Norway AS+31
From 2023 to 2024: the equity ratio rose from 13.6% to 59.3% and revenue grew by 22%.
Top lists in the sector · 2024 · Morning class Large
The five largest companies account for 36% of the sector's revenue. Combined profit before tax for the 114 ranked companies: 36,112 MNOK.
Size
The largest by revenue and employees, and who earns the most per employee.
Highest revenue
- Telenor Norge AS 25,787 MNOK
- Microsoft Norge AS 24,698 MNOK
- Telia Norge AS 14,583 MNOK
- Lyse Tele ASsubsidiary of Lyse AS 7,846 MNOK
- Norsk Rikskringkasting AS 6,678 MNOK
Operating revenue.
Most employees
- Norsk Rikskringkasting AS 4,106
- Sopra Steria AS 3,674
- Telenor Norge AS 2,723
- Bouvet Norge AS 2,271
- Telia Norge AS 1,719
Employees according to the Central Coordinating Register.
Highest revenue per employee
- Microsoft Norge AS 95.7 MNOK
- Allente Norge AS 51.6 MNOK
- Opera Norway AS 39.6 MNOK
- Tiktok Norway AS 36.1 MNOK
- Kyndryl Services AS 34.7 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
- Amedia AS 62.0%
- Tampnet AS 46.6%
- Poweroffice AS 43.3%
- Green Mountain AS 37.5%
- Space Norway Satcom AS 36.5%
Operating result divided by operating revenue.
Largest profit
- Telenor ASA 19,476 MNOK
- Telenor Norge AS 4,529 MNOK
- Microsoft Norge AS 1,153 MNOK
- Opera Norway AS 871 MNOK
- Adresseavisen AS 728 MNOK
Profit before tax.
Largest loss
- Lyse Tele ASsubsidiary of Lyse AS −1,038 MNOK
- Telia Norge AS −769 MNOK
- Cognite AS −546 MNOK
- Vivicta AS −473 MNOK
- Globalconnect AS −327 MNOK
Profit before tax, the largest negative.
Most solid
- Microsoft Development Center Norway AS 92.0%
- Signicat AS 88.5%
- KAHOOT! AS 85.9%
- Discovery Networks Norway AS 78.5%
- Stø AS 75.3%
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
- Tiktok Norway AS +4,867.8%
- Lyse Marked AS +895.4%
- Starlink Norway AS +418.1%
- Lyse Tele ASsubsidiary of Lyse AS +181.9%
- Twoday AS +97.1%
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
- Tieto Norway AS −34.4%
- Visma Enterprise AS −28.6%
- Telenor Linx AS −22.2%
- Experis AS −16.1%
- Vivicta AS −12.1%
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
- Pexip AS +39.2 points
- Dips ASsubsidiary of Kernel AS +34.8 points
- Bitdeer Norway AS +31.1 points
- Story House Egmont AS +18.9 points
- Crayon Group AS +16.0 points
Change in index points from the year before.
Biggest fallers
- Vivicta AS −43.0 points
- Cognite AS −27.6 points
- Volue Technology AS −26.1 points
- Eidsiva Digital AS −22.2 points
- Space Norway Satcom AS −22.1 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.
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).
- Bitdeer Norway AS profitability 72 → 46, solidity 15 → 90
- Pexip AS profitability 2 → 69, solidity 4 → 33
- Vivicta AS profitability 19 → 4, solidity 72 → 19
- Volue Technology AS profitability 62 → 15, solidity 64 → 46
- Cognite AS profitability 0 → 0, solidity 62 → 12
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 6.1%. 1 of 114 companies have negative equity. The median equity ratio is 26.4%.
All figures are for fiscal year 2024. Ranked: 114 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index
- 4 companies report in another currency. Their revenue is converted at the mean rate for the accounting period and makes up 5% of the total.
Climbers and fallers · Morning class Large
Change in rank from 2023 to 2024, for 94 companies ranked in both years.
Climbers
- 74Dips ASfrom rank 77 to 374
- 65Bitdeer Norway ASfrom rank 70 to 573
- 45Pexip ASfrom rank 101 to 5651
- 40Evry Card Issuing ASfrom rank 61 to 2162
- 29KAHOOT! ASfrom rank 45 to 1665
Fallers
- 85Vivicta ASfrom rank 26 to 11117
- 72Volue Technology ASfrom rank 28 to 10033
- 64Eidsiva Digital ASfrom rank 35 to 9934
- 47Allente Norge ASfrom rank 10 to 5751
- 44Aller Media ASfrom rank 41 to 8541
Awards · 2024 · Morning class Large
Needs attention · 2024 · Morning class Large
62 companies show at least one warning sign. Showing the 15 most important.
- criticalTiktok Norway ASNegative equity · Current ratio below 1 (0.15) · Loss before tax
- watchSCHIBSTED MEDIA PRODUCTS & Technology ASVery low equity ratio (7.4%) · Current ratio below 1 (0.54) · Loss before tax
- watchMicrosoft Norge ASVery low equity ratio (3.7%) · Current ratio below 1 (0.99)
- watchTelia Norge ASCurrent ratio below 1 (0.78) · Loss before tax
- watchNorsk Rikskringkasting ASCurrent ratio below 1 (0.93) · Loss before tax
- watchGlobalconnect ASCurrent ratio below 1 (0.50) · Loss before tax
- watchSchibsted Media ASCurrent ratio below 1 (0.82) · Loss before tax
- watchFalkor ASCurrent ratio below 1 (0.71) · Loss before tax
- watchVisma Software International ASVery low equity ratio (1.8%) · Current ratio below 1 (1.00)
- watchEidsiva Digital ASCurrent ratio below 1 (0.30) · Loss before tax
- watchOrange Business Digital Norway ASCurrent ratio below 1 (0.60) · Loss before tax
- watchCognite ASCurrent ratio below 1 (0.69) · Loss before tax
- watchLink Mobility ASVery low equity ratio (2.7%) · Current ratio below 1 (0.99)
- watchAller Media ASCurrent ratio below 1 (0.72) · Loss before tax
- watchVolue Technology ASCurrent ratio below 1 (0.47) · Loss 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 |
|---|---|---|---|
| Zenitel Norway AS | 26.3% | 43.9% | 1,081 MNOK |
| HCL Technologies Norway AS | 6.4% | 65.1% | 613 MNOK |
| Dips AS | 11.8% | 40.3% | 689 MNOK |
| Thales Norway AS | 14.3% | 43.4% | 902 MNOK |
| Bitdeer Norway AS | 4.1% | 59.3% | 683 MNOK |
| Intility AS | 15.4% | 27.8% | 1,521 MNOK |
| Twoday AS | 9.3% | 26.6% | 946 MNOK |
| Signicat AS | 18.0% | 88.5% | 778 MNOK |
| Bouvet Norge AS | 13.4% | 28.5% | 3,788 MNOK |
| Webstep AS | 9.6% | 39.8% | 874 MNOK |
| Evry Card Services AS | 15.9% | 39.8% | 694 MNOK |
| Discovery Networks Norway AS | 5.8% | 78.5% | 1,247 MNOK |
| Green Mountain AS | 37.5% | 61.4% | 825 MNOK |
| Banqsoft AS | 10.4% | 27.1% | 541 MNOK |
| Kongsberg Satellite Services AS | 17.6% | 59.9% | 1,891 MNOK |
| KAHOOT! AS | 36.4% | 85.9% | 1,072 MNOK |
| Upheads AS | 12.4% | 39.6% | 504 MNOK |
| Remarkable AS | 8.7% | 26.3% | 4,666 MNOK |
| Space Norway Satcom AS | 36.5% | 46.7% | 906 MNOK |
| Quorum Software Norway AS | 16.7% | 17.6% | 958 MNOK |
| Evry Card Issuing AS | 27.0% | 22.7% | 761 MNOK |
| Tampnet AS | 46.6% | 24.1% | 800 MNOK |
| Omega 365 Norway AS | 9.9% | 30.8% | 510 MNOK |
| Tieto Banktech Norway AS | 3.1% | 69.4% | 4,429 MNOK |
| Navtor AS | 7.6% | 26.6% | 1,050 MNOK |
| Visma Flyt AS | 6.4% | 40.5% | 551 MNOK |
| Mastercard Payment Services Norway AS | −0.5% | 71.4% | 815 MNOK |
| Bergen Fiber AS | 19.6% | 59.2% | 572 MNOK |
| Opera Norway AS | 9.3% | 26.1% | 3,291 MNOK |
| Telenor ASA | −168.0% | 51.6% | 678 MNOK |
| Ifs Norge AS | 4.9% | 32.8% | 905 MNOK |
| SAP Norge AS | 5.2% | 35.0% | 1,435 MNOK |
| Microsoft Development Center Norway AS | −25.1% | 92.0% | 829 MNOK |
| Mnemonic AS | 4.3% | 32.0% | 1,108 MNOK |
| TV 2 AS | 3.0% | 39.3% | 6,084 MNOK |
| Amedia AS | 62.0% | 51.3% | 561 MNOK |
| Stø AS | 7.3% | 75.3% | 1,382 MNOK |
| Viaplay Group Norway AS | 5.4% | 43.5% | 1,037 MNOK |
| Tripletex AS | 36.2% | 3.5% | 1,390 MNOK |
| Accenture AS | 9.6% | 20.1% | 3,295 MNOK |
| Cappelen Damm AS | 7.0% | 35.0% | 1,184 MNOK |
| Aftenposten AS | 10.4% | 19.4% | 1,347 MNOK |
| Gyldendal Norsk Forlag AS | 9.7% | 30.8% | 869 MNOK |
| Cegal AS | 7.3% | 35.7% | 1,377 MNOK |
| Omega 365 Consulting AS | 3.6% | 18.1% | 2,078 MNOK |
| Haugaland Kraft Fiber AS | 25.2% | 39.1% | 636 MNOK |
| Visma Enterprise AS | 28.5% | 20.7% | 1,033 MNOK |
| Onyx Centersource AS | 27.2% | 2.8% | 544 MNOK |
| Poweroffice AS | 43.3% | 0.7% | 770 MNOK |
| IBM Norge AS | 4.3% | 31.8% | 1,058 MNOK |
| Visma Software AS | 26.5% | 13.6% | 1,547 MNOK |
| Geodata AS | 15.0% | 10.3% | 533 MNOK |
| Computas AS | 3.0% | 30.5% | 862 MNOK |
| Sopra Steria AS | 10.0% | 15.7% | 5,907 MNOK |
| Netnordic Norway AS | 2.8% | 19.5% | 1,202 MNOK |
| Pexip AS | 9.8% | 19.6% | 896 MNOK |
| Allente Norge AS | 12.4% | 25.8% | 2,943 MNOK |
| Advania Norge AS | 6.9% | 36.9% | 2,479 MNOK |
| Itera Norge AS | 3.1% | 28.6% | 625 MNOK |
| Softwareone AS | 30.4% | 3.7% | 963 MNOK |
| Lyse Marked AS | 4.6% | 19.6% | 712 MNOK |
| NTE Telekom AS | 19.6% | 35.6% | 808 MNOK |
| Bekk Consulting AS | 16.2% | 10.4% | 1,054 MNOK |
| Orkla IT AS | 3.8% | 22.5% | 805 MNOK |
| Crayon Group AS | −20.4% | 22.9% | 914 MNOK |
| Microsoft Datacenter Norway AS | 13.2% | 26.9% | 1,746 MNOK |
| Tieto Norway AS | 9.9% | 47.6% | 2,271 MNOK |
| Starlink Norway AS | −7.6% | 3.8% | 553 MNOK |
| Norkart AS | 15.3% | 12.0% | 541 MNOK |
| Dxc Technology Norge AS | −7.6% | 41.1% | 684 MNOK |
| Netsecurity AS | 0.6% | 45.3% | 751 MNOK |
| Telenor Linx AS | 1.2% | 30.1% | 1,558 MNOK |
| Cisco Systems Norway AS | 8.7% | 17.3% | 1,261 MNOK |
| Verdens Gang AS | 0.3% | 42.5% | 1,906 MNOK |
| Viken Fiber AS | 23.7% | 26.9% | 2,446 MNOK |
| Entur AS | 2.0% | 20.3% | 747 MNOK |
| Kyndryl Norway AS | −0.5% | 53.2% | 860 MNOK |
| Kyndryl Services AS | 3.3% | 14.0% | 1,007 MNOK |
| Conscia Norge AS | 5.1% | 18.6% | 993 MNOK |
| Falkor AS | −31.5% | 58.8% | 1,125 MNOK |
| Dagens Næringsliv AS | 6.4% | 20.4% | 574 MNOK |
| Link Mobility AS | 13.9% | 2.7% | 937 MNOK |
| Adresseavisen AS | 1.2% | 16.2% | 507 MNOK |
| Telenor Towers Norway AS | 27.4% | 13.1% | 2,502 MNOK |
| Aller Media AS | −4.4% | 60.1% | 890 MNOK |
| Lyse Tele AS | −6.0% | 23.0% | 7,846 MNOK |
| Microsoft Norge AS | 4.8% | 3.7% | 24,698 MNOK |
| Telenor Norge AS | 19.4% | 15.2% | 25,787 MNOK |
| Evidi AS | −3.2% | 43.5% | 635 MNOK |
| CGI Norge AS | −8.3% | 45.0% | 970 MNOK |
| Move AS | 2.6% | 18.3% | 513 MNOK |
| Capgemini Norge AS | 1.9% | 20.3% | 3,177 MNOK |
| Schibsted Media AS | −7.5% | 47.6% | 1,355 MNOK |
| Rikstv AS | 4.5% | 13.0% | 1,490 MNOK |
| Ericsson AS | 2.7% | 17.2% | 1,266 MNOK |
| Arm Norway AS | 6.5% | 15.0% | 807 MNOK |
| Telenor Maritime AS | 0.7% | 10.8% | 715 MNOK |
| Story House Egmont AS | 3.4% | 18.7% | 653 MNOK |
| Eidsiva Digital AS | 5.5% | 20.3% | 1,090 MNOK |
| Volue Technology AS | −2.3% | 24.7% | 827 MNOK |
| Universal Music AS | 4.2% | 14.7% | 503 MNOK |
| Norsk Rikskringkasting AS | −3.3% | 31.0% | 6,678 MNOK |
| Experis AS | −5.3% | 27.3% | 1,474 MNOK |
| DN Media Group AS | −1.6% | 2.5% | 551 MNOK |
| Tiktok Norway AS | 6.9% | −0.6% | 2,056 MNOK |
| Visma Software International AS | −0.2% | 1.8% | 1,112 MNOK |
| Globalconnect AS | −2.7% | 25.5% | 2,120 MNOK |
| Telia Norge AS | 2.4% | 19.6% | 14,583 MNOK |
| Netcompany Norway AS | −11.1% | 23.1% | 531 MNOK |
| Unifon AS | −1.1% | 12.9% | 634 MNOK |
| Vivicta AS | −13.5% | 14.7% | 3,429 MNOK |
| Orange Business Digital Norway AS | 0.0% | 14.6% | 1,042 MNOK |
| Cognite AS | −62.1% | 10.9% | 941 MNOK |
| SCHIBSTED MEDIA PRODUCTS & Technology AS | −27.3% | 7.4% | 716 MNOK |
Holding and investment companies · 2024
177 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: 56 have at least 10 MNOK in assets and are listed.
| Rank | Company | Score | Equity ratio | Return on assets | Current ratio | Total assets |
|---|---|---|---|---|---|---|
| 1 | Milenkovic IT Invest AS | 97 | 99.9% | 88.2% | 588.94 | 21 MNOK |
| 2 | Mint Technology Holding AS | 90 | 99.7% | 87.3% | 230.35 | 72 MNOK |
| 3 | IC Invest AS | 86 | 100.0% | 24.3% | – | 25 MNOK |
| 4 | Dintero Holding AS | 84 | 99.8% | 22.9% | 334.46 | 62 MNOK |
| 5 | Sunday Invest AS | 81 | 99.1% | 27.5% | 94.75 | 14 MNOK |
| 6 | Jensen IT Invest AS | 80 | 97.8% | 100.8% | 18.65 | 18 MNOK |
| 7 | Ingulstad Holding AS | 80 | 99.7% | 19.3% | 305.77 | 114 MNOK |
| 8 | Opcode Invest AS | 77 | 98.2% | 31.8% | 32.03 | 11 MNOK |
| 9 | Stonehaven Capital AS | 76 | 99.6% | 18.3% | 215.82 | 19 MNOK |
| 10 | Lunde IT Invest AS | 71 | 93.2% | 99.6% | 6.20 | 18 MNOK |
| 11 | Hegre Investering AS | 70 | 97.3% | 26.0% | 37.09 | 28 MNOK |
| 12 | Bertheussen Invest AS | 70 | 97.9% | 22.7% | 46.84 | 551 MNOK |
| 13 | Moroni Invest AS | 62 | 96.7% | 17.8% | 22.39 | 24 MNOK |
| 14 | 62 Kapital AS | 61 | 90.9% | 30.5% | 5.13 | 11 MNOK |
| 15 | Ehaa Invest AS | 60 | 97.9% | 11.7% | 47.07 | 18 MNOK |
| 16 | Bakkejord Holding AS | 60 | 91.4% | 34.7% | 1.81 | 298 MNOK |
| 17 | Indermark Invest AS | 59 | 98.3% | 7.8% | 63.58 | 23 MNOK |
| 18 | Sveb Invest AS | 59 | 81.8% | 45.5% | 3.82 | 54 MNOK |
| 19 | Telenor Marketplace Invest AS | 58 | 99.0% | 8.7% | 16.55 | 666 MNOK |
| 20 | RE Megawatt Holding AS | 57 | 100.0% | −0.1% | 71.04 | 1,200 MNOK |
Show all 56
Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology
In our articles
- Property and finance earn the margins, but not the securityNo. 11 of 22 on median operating margin
- Boards of water, mining and shipping firms are oldest; IT and construction youngestNo. 22 of 22 on median board age
Scenario analysis: the sector's weakest year
The sector's weakest year was 2026, with a median operating margin of 4.0%.
Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported.
| Fiscal year | Median operating margin | Median equity ratio |
|---|---|---|
| 2019 | – | – |
| 2020 | – | – |
| 2021 | – | – |
| 2022 | 6.6% | 27.8% |
| 2023 | 5.2% | 35.0% |
| 2024 | 5.1% | 33.6% |
| 2025 | 5.5% | 33.2% |
| 2026 · weakest year | 4.0% | 39.9% |
In 2026, 13 ranked companies did better than the sector, 9 about the same and 3 weaker.
Held up best in 2026
- 1H5p Group ASequity ratio 39.9%29.5%
- 2Accigo ASequity ratio 7.6%29.0%
- 3Sanity ASequity ratio 39.9%22.5%
- 4Ntt Data Business Solutions ASequity ratio 30.4%11.5%
- 5Dxc Technology Norge ASequity ratio 57.2%9.9%
- 6Neatframe ASequity ratio 48.7%9.7%
- 7Autodesk Norway Operations ASequity ratio 51.5%7.4%
- 8Arm Norway ASequity ratio 48.8%6.6%
- 9Sony Music Entertainment Norway ASequity ratio 48.0%6.0%
- 10Stratsys Norge ASequity ratio 33.4%5.1%
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.
Turnover index: information and communication (indeks (2021 = 100))
| Measure | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Turnover index: information and communication, annual average | – | – | – | – | – |
| Change from the year before | – | – | – | – | – |
| Sector's median operating margin | 6.6% | 5.2% | 5.1% | 5.5% | 4.0% |
Source: SSB (13863, CC BY 4.0). Source
USD/NOK (kr)
USD/NOK fell 3.3% in 2025; the sector's median operating margin rose 0.4 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| USD/NOK, annual average | 8.59 | 9.61 | 10.56 | 10.75 | 10.39 | 9.54 (so far) |
| Change from the year before | −8.8% | +11.9% | +9.9% | +1.7% | −3.3% | −8.2% |
| Sector's median operating margin | – | 6.6% | 5.2% | 5.1% | 5.5% | 4.0% |
Source: Norges Bank (EXR, NLOD 2.0). Source · fetched 4 November 2026
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 0.4 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 |
| Sector's median operating margin | – | 6.6% | 5.2% | 5.1% | 5.5% | 4.0% |
Source: Norges Bank (IR, NLOD 2.0). Source · fetched 4 November 2026
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 0.4 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 102.9 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +2.9% |
| Sector's median operating margin | – | 6.6% | 5.2% | 5.1% | 5.5% | 4.0% |
Source: SSB (14710, CC BY 4.0). Source · fetched 4 November 2026
When USD/NOK fell in 2025, 1,171 of 2,233 ranked companies kept their operating margin at or above the year before. Among the largest: Telenor Norge AS (19.4% → 21.9%), Telia Norge AS (2.4% → 20.2%), Norsk Rikskringkasting AS (−3.3% → −1.6%), TV 2 AS (3.0% → 3.8%), Tiktok Norway AS (6.9% → 7.8%).
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
- 23,538
- +3.5% from 2023
- Persons employed
- 113,952
- +0.6% from 2023
- Turnover
- NOK 424.7 bn
- +10.2% from 2023
- Gross operating margin
- 14.6%
- Gross operating surplus divided by turnover
All enterprises, sole proprietorships included.
Bankruptcies in the industry
156 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −13.8% against the four quarters before (181). That is about 6.6 per 1,000 enterprises.
Foreign-controlled enterprises · 2024
- Share of enterprises
- 5.7%
- Share of persons employed
- 40.1%
- Share of turnover
- 50.3%
SSB publishes this for groups of industries only. The figures are for the group “Informasjon og kommunikasjon”.
Turnover index · Informasjon og kommunikasjon
142.3 index, 2021 = 100, seasonally adjusted · 2026M08
+0.9% against 2025M08.
Monthly, 2023M08 to 2026M08.
Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 13863. 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
- TO BE OR Not AS 972408654 Voluntary liquidation · 3 November 2026 · 0 MNOK (2025)
- Fmiopt AS 836010302 Voluntary liquidation · 2 November 2026 · 0 MNOK (2025)
- Scientio AS 928658678 Forced dissolution · 2 November 2026 · 0 MNOK (2023)
- Seko Data AS 984603509 Bankruptcy · 2 November 2026 · 0 MNOK (2025)
- TRUST IT. AS 988530956 Bankruptcy · 2 November 2026 · 0 MNOK (2024)
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Industry codes (NACE)
| Code | Description |
|---|---|
| 58* | Hele hovedgruppe 58 |
| 58.110 | Utgivelse av bøker |
| 58.120 | Utgivelse av aviser |
| 58.130 | Utgivelse av blader og tidsskrifter |
| 58.190 | Utgivelsesvirksomhet ellers, unntatt utgivelse av programvare |
| 58.210 | Utgivelse av programvare for dataspill |
| 58.290 | Utgivelse av annen programvare |
| 59* | Hele hovedgruppe 59 |
| 59.110 | Produksjon av film, video og fjernsynsprogrammer |
| 59.120 | Etterarbeid knyttet til produksjon av film, video og fjernsynsprogrammer |
| 59.130 | Distribusjon av film og video |
| 59.140 | Filmfremvisning |
| 59.200 | Produksjon og utgivelse av musikk- og lydopptak |
| 60* | Hele hovedgruppe 60 |
| 60.100 | Radiokringkasting og distribuering av musikk og andre lydmedier |
| 60.200 | Fjernsynsprogramvirksomhet, kringkasting og distribuering av audiovisuelle medier |
| 60.310 | Nyhetsbyråvirksomhet |
| 60.390 | Annen virksomhet for distribuering av innhold |
| 61* | Hele hovedgruppe 61 |
| 61.100 | Kabelbasert, satellittbasert og trådløs telekommunikasjon |
| 61.200 | Videresalg av telekommunikasjon og formidlingstjenester tilknyttet telekommunikasjon |
| 61.900 | Telekommunikasjon ellers |
| 62* | Hele hovedgruppe 62 |
| 62.100 | Dataprogrammeringstjenester |
| 62.200 | Konsulentvirksomhet tilknyttet informasjonsteknologi og forvaltning og drift av it-systemer |
| 62.900 | Andre tjenester tilknyttet informasjonsteknologi |
| 63* | Hele hovedgruppe 63 |
| 63.100 | Datainfrastruktur, -behandling, -lagring og tilknyttede tjenester |
| 63.910 | Drift av søkemotorer |
| 63.920 | Andre informasjonstjenester |