Ecit Init AS
ASDissolvedOrg 915681964Rolfsbuktveien 4A, 1364 FornebuKonsulentvirksomhet tilknyttet informasjonsteknologi· NACE 62020Est. 2015 · 11 years old16 employeeshttps://www.ecit.no
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Overview
Ecit Init AS is a Norwegian AS based in Fornebu, operating in the Konsulentvirksomhet tilknyttet informasjonsteknologi sector. Incorporated in 2015, the company has 16 employees and reported revenue of NOK 43.0m in its latest annual filing.
Revenue 2021
43M NOK
+7% vs 2020
EBITDA margin
19.7 %
+14% vs 2020
Net profit 2021
6.3M NOK
+16% vs 2020
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
14.1 %
WeakAmong the 30% lowest rated companies in the industry
20172021
Liquidity ratioCurrent assets ÷ Short-term debt
1.1×
WeakAmong the 40% lowest rated companies in the industry
20172021
Return on assets (ROA)Net profit ÷ Total assets × 100
44.4 %
Very strongAmong the 10% highest rated companies in the industry
20172021
EBITDA — year on year
NOK thousandsKey figures
Annual report 2021| Revenue | 43M NOK | +7% |
| EBITDA | 8.5M NOK | +14% |
| Net profit | 6.3M NOK | +16% |
| Total assets | 14.2M NOK | -6% |
| Equity | 2M NOK | -2% |
| Employees | 16 | — |
Company information
Legal name
ECIT INIT AS
Org number
915681964
Legal form
Aksjeselskap
NACE code
Founded
15 June 2015 · 11 years
Share capital
NOK 158,732
Employees
16 (FTE)
VAT registered
No
Audit selected
No
Last report
2021-12-31
Financial year
January – December
Signatory rights
Styrets leder og ett styremedlem i fellesskap.
Company purpose
Drive konsulenttjenester innenfor it relatert virksomhet/informasjonsteknologi med videre, og handel med dertil egnede varer.
(no translation available)
Contact
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Financial development
In its most recent annual report (2021), Ecit Init AS reported revenue of NOK 43.0m, an increase of 7% on the year before. The figures on this page draw on 5 annual filings covering 2017 to 2021. The bottom line showed a net profit of NOK 6.3m, and the EBITDA margin stood at 19.7%.
At the end of 2021, equity financed 14.1% of the balance sheet, and current assets covered short-term debt 1.1 times.
Financials
Revenue
NOK millionsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| Revenue | 42,962 | 40,265 | 31,227 | 26,266 | 15,297 |
| Staff expenses | -12,281 | -11,767 | -11,017 | -10,226 | -5,343 |
| EBITDA | 8,468 | 7,446 | 3,979 | 3,127 | 2,929 |
| Depreciation & amort. | -353 | -446 | -451 | -517 | -266 |
| EBIT | 8,115 | 7,000 | 3,528 | 2,611 | 2,663 |
| Net financials | -23 | 38 | 32 | -17 | 8 |
| Profit before tax | 8,091 | 7,038 | 3,560 | 2,594 | 2,671 |
| Tax | 1,800 | 1,635 | 785 | 601 | 641 |
| Net profit | 6,292 | 5,403 | 2,775 | 1,993 | 2,030 |
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Balance sheet
NOK thousands| Item | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| Total assets | 14,183 | 15,068 | 9,583 | 5,952 | 5,979 |
| Equity | 2,001 | 2,049 | 2,001 | 2,000 | 1,000 |
| Long-term debt | 0 | 0 | 0 | 104 | 0 |
| Short-term debt | 12,182 | 13,019 | 7,582 | 3,847 | 4,979 |
| Total debt | 12,182 | 13,019 | 7,582 | 3,952 | 4,979 |
Financial ratios
5-year trendEBITDA margin
19.7 %
20172021
Equity ratio
14.1 %
WeakAmong the 30% lowest rated companies in the industry
20172021
Return on equity
314.5 %
Very strongAmong the 10% highest rated companies in the industry
20172021
Net profit margin
14.6 %
StrongAmong the 40% highest rated companies in the industry
20172021
Asset turnover
3.03×
Very strongAmong the 20% highest rated companies in the industry
20172021
Debt / equity
6.09×
Very weakAmong the 20% lowest rated companies in the industry
20172021
Sector performance
28 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginVery weak
Among the 20% 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 marginStrong
Among the 40% highest 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 marginStrong
Among the 40% highest 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 strong
Among the 10% 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)Very strong
Among the 10% 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)Very strong
Among the 10% 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)Very strong
Among the 10% 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 ratioVery strong
Among the 20% 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 ratioWeak
Among the 40% lowest 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 ratioWeak
Among the 40% lowest 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 weak
Among the 20% 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 10% 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 30% 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 equityVery weak
Among the 20% 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 debtStrong
Among the 30% highest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtVery strong
Among the 20% highest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageVery strong
Among the 20% highest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtAverage
Around the average of companies in the same industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginVery strong
Among the 20% 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 turnoverVery strong
Among the 20% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverWeak
Among the 40% lowest rated companies in the industry
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.
Equity to contributed capitalStrong
Among the 40% 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 equityAverage
Around the average of companies in the same industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtStrong
Among the 40% highest rated companies in the industry
The size of this year's increase or decrease in the company's debt.
Annual reports & filings
- Annual report 2021Filed via Brønnøysundsregistrene · Period 2021-01-01 – 2021-12-31
- 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
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (3) | ||
HS Observer | Observer | 2020 |
GJ Chief Executive Officer | Chief Executive Officer | 2015 |
JB Observer | Observer | 2020 |
Former (1)
TR Observer | Observer | 2020 – 2021 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (3) | ||
JI Board of Directors | Board of Directors | 2020 |
GJ Board of Directors | Board of Directors | 2020 |
MA Chairman | Chairman | 2020 |
Former (1)
LM Board of Directors | Board of Directors | 2020 – 2021 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Individual | 3.33% | 3.33% | 2020 | |
| Company | 2.22% | 2.22% | 2020 | |
| Company | 17.58% | 17.58% | 2021 | |
| Company | 5.67% | 5.67% | 2021 | |
| Company | 9.77% | 9.77% | 2020 | |
| Company | 76.75% | 76.75% | 2021 |
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Company hierarchy
Thoruud Holding As2.22%Infolink Holding As17.58%Jbf Holding As5.67%Interak As9.77%Ecit F&A Holding As76.75%
Ecit Init AS (this company)Board network connections
Board members of Ecit Init AS also hold positions in 180 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Jan Ivar Sørensen | Board of Directors | 66 companiesMany roles |
| Morten Andre Yttreeide | Chairman | 59 companiesMany roles |
| Halvor Sewell Aspaas | Observer | 42 companiesMany roles |
| Lars Mazarino | Board of Directors | 5 companies |
| Gunnar Johnsen | Chief Executive Officer | 3 companies |
| Jørgen Brun Fundingsrud | Observer | 3 companies |
| Thomas Ruud | Observer | 2 companies |
Frequently asked questions
What is the Org number of Ecit Init AS?
Ecit Init AS is registered with Brønnøysundsregistrene under Org 915681964.
What is the revenue of Ecit Init AS?
Ecit Init AS reported revenue of NOK 43.0m in 2021.
How many employees does Ecit Init AS have?
Ecit Init AS employs 16 people as of the latest annual report.
Who is the CEO of Ecit Init AS?
Gunnar Johnsen is the CEO of Ecit Init AS.
Who is the chairman of Ecit Init AS?
Morten Andre Yttreeide chairs the board of Ecit Init AS, in role since 2020.
Where is Ecit Init AS headquartered?
Ecit Init AS's registered address is Rolfsbuktveien 4A.