Ecit Services AS
ASDissolvedOrg 915334148Rolfsbuktveien 4A, 1364 FornebuAccounting, bookkeeping and auditing activities; tax consultancy· NACE 6920Est. 1963 · 63 years old51 employeeshttps://www.ecit.com
Loading company…
Overview
Ecit Services AS is a Norwegian AS based in Fornebu, operating in the Accounting, bookkeeping and auditing activities; tax consultancy sector. Incorporated in 1963, the company has 51 employees and reported revenue of NOK 81.4m in its latest annual filing.
Revenue 2020
81.4M NOK
+239% vs 2019
EBITDA margin
9.6 %
+365% vs 2019
Net profit 2020
5.1M NOK
+320% vs 2019
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
25.0 %
WeakAmong the 40% lowest rated companies in the industry
20162020
Liquidity ratioCurrent assets ÷ Short-term debt
2.1×
AverageAround the average of companies in the same industry
20162020
Return on assets (ROA)Net profit ÷ Total assets × 100
11.4 %
StrongAmong the 40% highest rated companies in the industry
20162020
EBITDA — year on year
NOK thousandsKey figures
Annual report 2020| Revenue | 81.4M NOK | +239% |
| EBITDA | 7.8M NOK | +365% |
| Net profit | 5.1M NOK | +320% |
| Total assets | 44.6M NOK | +274% |
| Equity | 11.2M NOK | +272% |
| Employees | 51 | — |
Company information
Legal name
ECIT SERVICES AS
Org number
915334148
Legal form
Aksjeselskap
NACE code
Founded
21 May 1963 · 63 years
Share capital
NOK 317,601
Employees
51 (FTE)
VAT registered
No
Audit selected
No
Last report
2020-12-31
Financial year
January – December
Company purpose
Regnskap- og økonomitjenester, administrasjonstjenester og generell konsulentvirksomhet.
(no translation available)
Contact
Address
Rolfsbuktveien 4A, 1364 Fornebu
Phone
+47 22 72 14 14
Email
post@ecitservices.no
Website
https://www.ecit.com
Risika for professionals
Risika provides regulated workflow tools for finance, procurement and compliance teams that need monitoring, alerts and an API.
Financial development
In its most recent annual report (2020), Ecit Services AS reported revenue of NOK 81.4m, an increase of 239% on the year before. The figures on this page draw on 5 annual filings covering 2016 to 2020. The bottom line showed a net profit of NOK 5.1m, and the EBITDA margin stood at 9.6%.
At the end of 2020, equity financed 25% of the balance sheet, and current assets covered short-term debt 2.1 times.
Financials
Revenue
NOK millionsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|
| Revenue | 81,415 | 24,001 | 23,682 | 21,741 | 18,453 |
| Staff expenses | -48,867 | -11,307 | -14,268 | -13,511 | -11,128 |
| EBITDA | 7,804 | 1,680 | 56 | 927 | 1,993 |
| Depreciation & amort. | -1,281 | -221 | -286 | -284 | -107 |
| EBIT | 6,523 | 1,458 | -230 | 643 | 1,886 |
| Net financials | 19 | 322 | -153 | 181 | 161 |
| Profit before tax | 6,543 | 1,780 | -383 | 824 | 2,046 |
| Tax | 1,463 | 571 | -56 | 134 | 518 |
| Net profit | 5,080 | 1,210 | -327 | 690 | 1,529 |
Get a credit rating – not just the numbers
Financial statements show the past. Risika gives you a score and a recommended credit limit, so you know what the numbers mean for your risk.
Balance sheet
NOK thousands| Item | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|
| Total assets | 44,597 | 11,917 | 11,665 | 11,698 | 7,091 |
| Equity | 11,165 | 3,001 | 2,702 | 3,029 | 3,029 |
| Long-term debt | 16,879 | 277 | 400 | 400 | 0 |
| Short-term debt | 16,553 | 8,639 | 8,562 | 8,269 | 4,062 |
| Total debt | 33,433 | 8,916 | 8,962 | 8,669 | 4,062 |
Financial ratios
5-year trendEBITDA margin
9.6 %
20162020
Equity ratio
25.0 %
WeakAmong the 40% lowest rated companies in the industry
20162020
Return on equity
45.5 %
StrongAmong the 30% highest rated companies in the industry
20162020
Net profit margin
6.2 %
AverageAround the average of companies in the same industry
20162020
Asset turnover
1.83×
StrongAmong the 30% highest rated companies in the industry
20162020
Debt / equity
2.99×
WeakAmong the 30% lowest rated companies in the industry
20162020
Sector performance
27 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginWeak
Among the 30% 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 marginAverage
Around the average of companies in the same 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 marginAverage
Around the average of companies in the same industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Strong
Among the 30% highest 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)Strong
Among the 40% highest 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)Strong
Among the 30% highest 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)Strong
Among the 30% highest rated companies in the industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioStrong
Among the 40% highest 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 ratioAverage
Around the average of companies in the same 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 ratioAverage
Around the average of companies in the same 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 ratioWeak
Among the 30% lowest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityVery weak
Among the 20% lowest 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 ratioVery strong
Among the 20% highest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioWeak
Among the 40% lowest 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 ratioWeak
Among the 40% lowest 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 equityWeak
Among the 30% lowest rated companies in the industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityVery weak
Among the 20% lowest rated companies in the industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtAverage
Around the average of companies in the same industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtStrong
Among the 40% highest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageStrong
Among the 40% highest 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 40% lowest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginStrong
Among the 30% highest 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 turnoverStrong
Among the 30% highest 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 equityVery strong
Among the 10% highest 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
- Annual report 2020Filed via Brønnøysundsregistrene · Period 2020-01-01 – 2020-12-31
- Annual report 2019Filed via Brønnøysundsregistrene · Period 2019-01-01 – 2019-12-31
- Annual report 2018Filed via Brønnøysundsregistrene · Period 2018-01-01 – 2018-12-31
- Annual report 2017Filed via Brønnøysundsregistrene · Period 2017-01-01 – 2017-12-31
- Annual report 2016Filed via Brønnøysundsregistrene · Period 2016-01-01 – 2016-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
LJ Chief Executive Officer | Chief Executive Officer | 2021 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (4) | ||
JI Board of Directors | Board of Directors | 2020 |
LI Chairman | Chairman | 2020 |
LG Board of Directors | Board of Directors | 2020 |
LJ Board of Directors | Board of Directors | 2020 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 2.36% | 2.36% | 2020 | |
| Individual | 2.31% | 2.31% | 2020 | |
| Company | 6.33% | 6.33% | 2020 | |
| Company | 49.71% | 49.71% | 2020 | |
| Company | 17.02% | 17.02% | 2020 | |
| Individual | 2.57% | 2.57% | 2020 | |
| Company | 17.09% | 17.09% | 2020 |
One in three Danish companies experiences fraud
Sound familiar? See how to strengthen your defences and catch suspicious changes in ownership and management in time.
Related companies
Company hierarchy
Jeb As
Ecit Services AS (this company)Board network connections
Board members of Ecit Services AS also hold positions in 122 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Jan Ivar Sørensen | Board of Directors | 66 companiesMany roles |
| Linda Janne Forberg | Chief Executive Officer | 28 companiesMany roles |
| Lars Gunnar Lilleklev | Board of Directors | 15 companiesMany roles |
| Lars Inge Tordal | Chairman | 13 companiesMany roles |
Frequently asked questions
What is the Org number of Ecit Services AS?
Ecit Services AS is registered with Brønnøysundsregistrene under Org 915334148.
What is the revenue of Ecit Services AS?
Ecit Services AS reported revenue of NOK 81.4m in 2020.
How many employees does Ecit Services AS have?
Ecit Services AS employs 51 people as of the latest annual report.
Who is the CEO of Ecit Services AS?
Linda Janne Forberg is the CEO of Ecit Services AS, in role since 2021.
Who is the chairman of Ecit Services AS?
Lars Inge Tordal chairs the board of Ecit Services AS, in role since 2020.
Where is Ecit Services AS headquartered?
Ecit Services AS's registered address is Rolfsbuktveien 4A.