Freepower AS
ASDissolvedOrg 824352232Åsveien 22C, 3121 NøtterøyEngineering activities and related technical consultancy· NACE 7112Est. 2019 · 6 years old0 employees
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Overview
Freepower AS is a Norwegian AS based in Nøtterøy, operating in the Engineering activities and related technical consultancy sector. Incorporated in 2019, the company has 0 employees and reported revenue of NOK 372.0k in its latest annual filing.
Revenue 2022
0.4M NOK
+27% vs 2021
EBITDA margin
−816.2 %
−143% vs 2021
Net profit 2022
-3.1M NOK
-150% vs 2021
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
85.5 %
StrongAmong the 30% highest rated companies in the industry
20202022
Liquidity ratioCurrent assets ÷ Short-term debt
4.0×
StrongAmong the 30% highest rated companies in the industry
20202022
Return on assets (ROA)Net profit ÷ Total assets × 100
-83.5 %
Very weakAmong the 10% lowest rated companies in the industry
20202022
EBITDA — year on year
NOK thousandsKey figures
Annual report 2022| Revenue | 0.4M NOK | +27% |
| EBITDA | -3M NOK | -143% |
| Net profit | -3.1M NOK | -150% |
| Total assets | 3.8M NOK | -6% |
| Equity | 3.2M NOK | -19% |
| Employees | 0 | — |
Company information
Legal name
FREEPOWER AS
Org number
824352232
Legal form
Aksjeselskap
NACE code
Founded
26 November 2019 · 6 years
Share capital
NOK 40,109
Employees
0 (FTE)
VAT registered
No
Audit selected
No
Last report
2022-12-31
Financial year
January – December
Signatory rights
Daglig leder alene.
Company purpose
Produktutvikling og salg innen marint, klima og energi samt alt som hører naturlig til dette. Salg av ingeniørtjenester og prosjektledelse.
(no translation available)
Address
Åsveien 22C, 3121 Nøtterøy
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Financial development
In its most recent annual report (2022), Freepower AS reported revenue of NOK 372.0k, an increase of 27% on the year before. The figures on this page draw on 3 annual filings covering 2020 to 2022. The bottom line showed a net loss of NOK 3.1m, and the EBITDA margin stood at -816.2%.
At the end of 2022, equity financed 85.5% of the balance sheet, and current assets covered short-term debt 4 times.
Financials
Revenue
NOK thousandsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2022 | 2021 | 2020 |
|---|---|---|---|
| Revenue | 372 | 293 | 286 |
| Staff expenses | -1,336 | -246 | -0 |
| EBITDA | -3,036 | -1,248 | 31 |
| Depreciation & amort. | -100 | -8 | -0 |
| EBIT | -3,136 | -1,256 | 31 |
| Net financials | -5 | 1 | 0 |
| Profit before tax | -3,141 | -1,255 | 31 |
| Tax | -0 | -0 | 18 |
| Net profit | -3,141 | -1,255 | 13 |
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Balance sheet
NOK thousands| Item | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total assets | 3,761 | 4,013 | 91 |
| Equity | 3,214 | 3,949 | 38 |
| Long-term debt | 0 | 0 | 0 |
| Short-term debt | 547 | 64 | 53 |
| Total debt | 547 | 64 | 53 |
Financial ratios
5-year trendEBITDA margin
-816.2 %
20202022
Equity ratio
85.5 %
StrongAmong the 30% highest rated companies in the industry
20202022
Return on equity
-97.7 %
Very weakAmong the 10% lowest rated companies in the industry
20202022
Net profit margin
-844.3 %
Very weakAmong the 10% lowest rated companies in the industry
20202022
Asset turnover
0.10×
WeakAmong the 40% lowest rated companies in the industry
20202022
Debt / equity
0.17×
StrongAmong the 30% highest rated companies in the industry
20202022
Sector performance
27 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginVery weak
Among the 10% lowest rated companies in the industry
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginVery weak
Among the 10% lowest rated companies in the industry
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginVery weak
Among the 10% lowest rated companies in the industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Very weak
Among the 10% lowest rated companies in the industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Very weak
Among the 10% lowest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Very weak
Among the 10% lowest rated companies in the industry
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Basic earning power (BEP)Very weak
Among the 10% lowest rated companies in the industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioVery weak
Among the 10% lowest rated companies in the industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Liquidity
Current ratioStrong
Among the 30% highest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Quick ratioStrong
Among the 30% highest rated companies in the industry
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Cash ratioVery strong
Among the 20% highest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityStrong
Among the 30% highest rated companies in the industry
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Fixed assets to long-term capitalAverage
Around the average of companies in the same industry
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Cash conversion ratioWeak
Among the 40% lowest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioStrong
Among the 30% highest rated companies in the industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioStrong
Among the 30% highest rated companies in the industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityStrong
Among the 30% highest rated companies in the industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityStrong
Among the 40% highest rated companies in the industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtVery weak
Among the 10% lowest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtVery weak
Among the 10% lowest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageVery weak
Among the 10% lowest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtWeak
Among the 30% lowest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginVery weak
Among the 10% lowest rated companies in the industry
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Efficiency & development
Asset turnoverWeak
Among the 40% lowest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Equity to contributed capitalVery strong
Among the 20% highest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in equityWeak
Among the 30% lowest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtVery weak
Among the 10% lowest rated companies in the industry
The size of this year's increase or decrease in the company's debt.
Inventory turnoverNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
Annual reports & filings
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
CM Chief Executive Officer | Chief Executive Officer | 2022 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (3) | ||
CM Board of Directors | Board of Directors | 2022 |
MI Board of Directors | Board of Directors | 2020 |
SF Chairman | Chairman | 2022 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Individual | 7.48% | 7.48% | 2023 | |
Bjurmalm Leif | Company | 2.99% | 2.99% | 2023 |
| Company | 5.61% | 5.61% | 2023 | |
Nicklas Alnström | Company | 1.25% | 1.25% | 2023 |
| Company | 3.74% | 3.74% | 2023 |
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Company hierarchy
Bjurmalm Leif2.99%Nicklas Alnström1.25%
Freepower AS (this company)Board network connections
Board members of Freepower AS also hold positions in 9 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Steven Foss | Chairman | 6 companiesMany roles |
| Carl Martin Daniel Bjurmalm | Chief Executive Officer | 3 companies |
Frequently asked questions
What is the Org number of Freepower AS?
Freepower AS is registered with Brønnøysundsregistrene under Org 824352232.
What is the revenue of Freepower AS?
Freepower AS reported revenue of NOK 372.0k in 2022.
Who is the CEO of Freepower AS?
Carl Martin Daniel Bjurmalm is the CEO of Freepower AS, in role since 2022.
Who is the chairman of Freepower AS?
Steven Foss chairs the board of Freepower AS, in role since 2022.
Where is Freepower AS headquartered?
Freepower AS's registered address is Åsveien 22C.