Kultur og fritid
FollowDownload sector report (PDF)1,028 companies ranked against comparable companies in four Morning company classes. Fiscal year 2024. Source: Brønnøysund Register Centre. Methodology
Ranking · 2024 · Morning class Medium
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 Medium
- Oslo Nye Teater AS+57
From 2023 to 2024: the operating margin rose from −19.5% to 11.3% and went from a loss to a profit before tax.
- Palmesus AS−55
From 2023 to 2024: the operating margin fell from 4.7% to −20.1% and went from a profit to a loss before tax.
- Stavernfestivalen AS−51
From 2023 to 2024: the operating margin fell from 27.9% to −60.5% and the equity ratio fell from −47.4% to −248.6%.
- Hafjell AS−45
From 2023 to 2024: the operating margin fell from 38.1% to −58.4% and went from a profit to a loss before tax.
Top lists in the sector · 2024 · Morning class Medium
The five largest companies account for 19% of the sector's revenue. Combined profit before tax for the 83 ranked companies: 826 MNOK.
Size
The largest by revenue and employees, and who earns the most per employee.
Highest revenue
- Sats Vest AS 487 MNOK
- Kristiansand Dyrepark AS 466 MNOK
- Mova AS 417 MNOK
- Sporty Norge AS 395 MNOK
- Nationaltheatret AS 366 MNOK
Operating revenue.
Most employees
- Sats Vest AS 1,705
- Sporty Norge AS 1,430
- Mova AS 1,419
- Tusenfryd AS 730
- Kristiansand Dyrepark AS 675
Employees according to the Central Coordinating Register.
Highest revenue per employee
- Tons of Rock Festival AS 25.4 MNOK
- Palmesus AS 16.2 MNOK
- Eventyrlie AS 13.0 MNOK
- Viking Fotball AS 13.0 MNOK
- Talent Norge AS 8.3 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
- Til Fotball AS 51.7%
- Sats Vest AS 32.5%
- Tryvannwyller AS 31.6%
- Feel24 AS 26.8%
- 3T Trening AS 25.7%
Operating result divided by operating revenue.
Largest profit
- Sats Vest AS 150 MNOK
- Fresh Fitness AS 60 MNOK
- Til Fotball AS 58 MNOK
- Tons of Rock Festival AS 57 MNOK
- Sporty Norge AS 55 MNOK
Profit before tax.
Largest loss
- Stavernfestivalen AS −47 MNOK
- Hafjell AS −39 MNOK
- Blålyng AS −26 MNOK
- Palmesus AS −20 MNOK
- Vålerenga Fotball AS −12 MNOK
Profit before tax, the largest negative.
Most solid
- Alan Walker AS 88.9%
- Til Fotball AS 86.6%
- Blålyng AS 83.9%
- Egil Hesland AS 80.4%
- Museene Arven AS 79.1%
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
- Feel24 Nordland AS +64.2%
- Lucky Bowl Norge AS +62.0%
- Tons of Rock Festival AS +48.2%
- Alan Walker AS +45.4%
- Spilleriet AS +44.2%
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
- Hafjell AS −72.1%
- Stavernfestivalen AS −31.3%
- Creative Technology Norway AS −30.4%
- Postkodelotteriet AS −27.8%
- Bergen Live AS −23.7%
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
- Oslo Nye Teater AS +57.5 points
- Lucky Bowl Norge AS +38.7 points
- LL DET NORSKE TEATRET +37.8 points
- Lund Gruppen Arrangement AS +33.3 points
- Scenekvelder AS +30.8 points
Change in index points from the year before.
Biggest fallers
- Palmesus AS −55.0 points
- Stavernfestivalen AS −50.9 points
- Hafjell AS −45.0 points
- Øyafestivalen AS −33.2 points
- Carte Blanche AS −26.3 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 Medium
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).
- Stavernfestivalen AS profitability 97 → 0, solidity 0 → 0
- Oslo Nye Teater AS profitability 1 → 80, solidity 0 → 48
- Hafjell AS profitability 90 → 5, solidity 65 → 57
- Palmesus AS profitability 70 → 2, solidity 51 → 0
- Scenekvelder AS profitability 89 → 96, solidity 4 → 72
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 Medium
The sector's median operating margin is 4.3%. 5 of 83 companies have negative equity. The median equity ratio is 29.1%.
All figures are for fiscal year 2024. Ranked: 83 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 Medium
Change in rank from 2023 to 2024, for 77 companies ranked in both years.
Climbers
- 56Lucky Bowl Norge ASfrom rank 66 to 1071
- 55Oslo Nye Teater ASfrom rank 83 to 2860
- 50Scenekvelder ASfrom rank 56 to 674
- 38Lund Gruppen Arrangement ASfrom rank 79 to 4152
- 36Sorrisniva ASfrom rank 70 to 3455
Fallers
- 61Hafjell ASfrom rank 16 to 7723
- 58Palmesus ASfrom rank 24 to 827
- 50Øyafestivalen ASfrom rank 5 to 5543
- 43Stavernfestivalen ASfrom rank 40 to 831
- 42Carte Blanche ASfrom rank 22 to 6438
Awards · 2024 · Morning class Medium
Needs attention · 2024 · Morning class Medium
54 companies show at least one warning sign. Showing the 15 most important.
- criticalLillehammer Olympiapark ASNegative equity · Current ratio below 1 (0.69) · Loss before tax
- criticalPalmesus ASNegative equity · Current ratio below 1 (0.58) · Loss before tax
- criticalStavernfestivalen ASNegative equity · Current ratio below 1 (0.09) · Loss before tax
- criticalInspiria Science Center ASNegative equity · Current ratio below 1 (0.33) · Loss before tax
- criticalØvrevoll Galopp ASNegative equity · Current ratio below 1 (0.90)
- watchActic Norge ASVery low equity ratio (7.4%) · Current ratio below 1 (0.10) · Loss before tax
- watchSosolo Collective ASVery low equity ratio (2.2%) · Current ratio below 1 (0.75) · Loss before tax
- watchNationaltheatret ASCurrent ratio below 1 (0.58) · Loss before tax
- watchCreative Technology Norway ASCurrent ratio below 1 (0.41) · Loss before tax
- watchEgil Hesland ASCurrent ratio below 1 (0.68) · Loss before tax
- watchTusenfryd ASCurrent ratio below 1 (0.71) · Loss before tax
- watchAnno Museum ASCurrent ratio below 1 (0.51) · Loss before tax
- watchKonsertsystemer Llb ASCurrent ratio below 1 (0.63) · Loss before tax
- watchLeos Lekeland Norge ASCurrent ratio below 1 (0.96) · Loss before tax
- watchRogaland Fritidspark ASCurrent ratio below 1 (0.55) · Loss before tax
Sector map · 2024 · Morning class Medium
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
Holding and investment companies · 2024
34 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: 11 have at least 10 MNOK in assets and are listed.
| Rank | Company | Score | Equity ratio | Return on assets | Current ratio | Total assets |
|---|---|---|---|---|---|---|
| 1 | N. Munkhaugen Holding AS | 78 | 99.5% | 11.3% | 167.72 | 62 MNOK |
| 2 | Øyehaug Holding AS | 72 | 96.4% | 14.8% | 6.28 | 11 MNOK |
| 3 | Aadne Holding AS | 64 | 99.5% | 2.8% | 121.09 | 11 MNOK |
| 4 | Micam Holding AS | 62 | 83.2% | 15.4% | 5.42 | 158 MNOK |
| 5 | Rmnl Holding AS | 60 | 99.7% | −0.3% | 269.69 | 16 MNOK |
| 6 | Steinar Skjervik Holding AS | 58 | 81.8% | 18.7% | 1.56 | 90 MNOK |
| 7 | Hugos Holding AS | 42 | 95.1% | 3.1% | 0.21 | 12 MNOK |
| 8 | Steinar Skjervik Investering AS | 36 | 52.4% | 10.9% | 1.79 | 181 MNOK |
| 9 | Gallerhåjen Investering AS | 30 | 61.7% | 2.2% | 109.85 | 27 MNOK |
| 10 | Buskerud og Vestfold Trav Holding AS | 28 | 95.0% | 0.0% | 0.35 | 11 MNOK |
| 11 | P & M Holding AS | 20 | 40.0% | 8.3% | −0.07 | 33 MNOK |
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
- Finance earns 58.3% on operations; the typical Norwegian industry makes 5.7%No. 14 of 22 on median operating margin
Scenario analysis: the sector's weakest year
The sector's weakest year was 2026, with a median operating margin of −5.4%.
Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported.
| Fiscal year | Median operating margin | Median equity ratio |
|---|---|---|
| 2020 | – | – |
| 2021 | – | – |
| 2022 | 11.5% | 40.4% |
| 2023 | 3.6% | 32.7% |
| 2024 | 3.7% | 32.2% |
| 2025 | 4.7% | 32.9% |
| 2026 · weakest year | −5.4% | 11.1% |
In 2026, 2 ranked companies did better than the sector, 0 about the same and 2 weaker.
Held up best in 2026
- 1Nye Bjorli Skisenter ASequity ratio 9.8%9.4%
- 2Norsk Tivolidrift ASequity ratio 12.4%3.3%
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))
Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 1.0 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 | – | 11.5% | 3.6% | 3.7% | 4.7% | −5.4% |
Source: SSB (14710, CC BY 4.0). Source · fetched 3 November 2026
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 1.0 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 | – | 11.5% | 3.6% | 3.7% | 4.7% | −5.4% |
Source: Norges Bank (IR, NLOD 2.0). Source · fetched 3 November 2026
When policy rate fell in 2025, 530 of 999 ranked companies kept their operating margin at or above the year before. Among the largest: Sats Norway AS (20.8% → 23.3%), Sporty Norge AS (14.3% → 24.0%), Kristiansand Dyrepark AS (13.5% → 15.5%), Mova AS (3.8% → 9.5%), O Kristoffersen Bingodrift AS (2.9% → 4.2%).
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
- 40,440
- +1.0% from 2023
- Persons employed
- 36,372
- +0.9% from 2023
All enterprises, sole proprietorships included. SSB withholds some figures for confidentiality. The figure then shows the latest year with every value, and the year is given beside it.
Bankruptcies in the industry
55 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −27.6% against the four quarters before (76). That is about 1.4 per 1,000 enterprises.
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.
Latest bankruptcies and liquidations
- Bare Kjuus AS 922693005 Voluntary liquidation · 2 November 2026
- Anticoach AS 923413812 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Bergtattfestivalen AS 923887318 Forced dissolution · 31 October 2026 · 7 MNOK (2025)
- Dream Factory Nordic AS 838998852 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Fuglum AS 917995028 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Gudmoren AS 936064175 Voluntary liquidation · 31 October 2026
- Løpeglede AS 921833407 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Løpeglede Holding AS 931708791 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
Industry codes (NACE)
| Code | Description |
|---|---|
| 90* | Hele hovedgruppe 90 |
| 90.111 | Skapende kunstnerisk virksomhet innenfor litteratur |
| 90.112 | Skapende kunstnerisk virksomhet innenfor komposisjon av musikk |
| 90.120 | Skapende kunstnerisk virksomhet innenfor visuell kunst |
| 90.130 | Annen kunstnerisk virksomhet |
| 90.201 | Utøvende kunstnerisk virksomhet og underholdningsvirksomhet innenfor musikk |
| 90.202 | Utøvende kunstnerisk virksomhet og underholdningsvirksomhet innenfor scenekunst |
| 90.209 | Annen utøvende kunstnerisk virksomhet og underholdningsvirksomhet ikke nevnt annet sted |
| 90.310 | Drift av lokaler tilknyttet kunstnerisk virksomhet og underholdningsvirksomhet |
| 90.390 | Andre tjenester tilknyttet kunstnerisk virksomhet og underholdningsvirksomhet |
| 91* | Hele hovedgruppe 91 |
| 91.111 | Drift av folkebiblioteker |
| 91.120 | Drift av arkiver |
| 91.211 | Drift av kunst- og kunstindustrimuseer |
| 91.212 | Drift av kulturhistoriske museer |
| 91.213 | Drift av naturhistoriske, teknologiske og vitenskapshistoriske museer |
| 91.220 | Drift av historiske steder og monumenter |
| 91.300 | Konservering, restaurering og andre tjenester tilknyttet kulturarv |
| 91.410 | Drift av botaniske og zoologiske hager |
| 92* | Hele hovedgruppe 92 |
| 92.000 | Lotteri- og gamblingvirksomhet |
| 93* | Hele hovedgruppe 93 |
| 93.110 | Drift av idrettsanlegg |
| 93.120 | Aktiviteter i idrettslag og -klubber |
| 93.130 | Treningssentervirksomhet |
| 93.190 | Sportsaktiviteter ikke nevnt annet sted |
| 93.210 | Drift av fornøyelses- og temaparker |
| 93.291 | Opplevelsesaktiviteter |
| 93.292 | Fritidsvirksomhet ellers |