Nobina AS
ASActiveOrg 9157682374. Etasje Schweigaards Gate 14, 0185 OsloScheduled passenger transport by road· NACE 4931Est. 1969 · 56 years old1,320 employeeshttps://www.nobina.no
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Overview
Nobina AS is a Norwegian AS based in Oslo, operating in the Scheduled passenger transport by road sector. Incorporated in 1969, the company has 1,320 employees and reported revenue of NOK 1.6bn in its latest annual filing.
Revenue 2026
1.6B NOK
−1% vs 2025
EBITDA margin
−6.7 %
+13% vs 2025
Net profit 2026
-0.1B NOK
-7% vs 2025
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
-6.0 %
Very weakAmong the 20% lowest rated companies in the industry
20222026
Liquidity ratioCurrent assets ÷ Short-term debt
0.7×
Very weakAmong the 20% lowest rated companies in the industry
20222026
Return on assets (ROA)Net profit ÷ Total assets × 100
-35.9 %
Very weakAmong the 10% lowest rated companies in the industry
20222026
EBITDA — year on year
NOK millionsKey figures
Annual report 2026| Revenue | 1.6B NOK | -1% |
| EBITDA | -0.1B NOK | +13% |
| Net profit | -0.1B NOK | -7% |
| Total assets | 0.4B NOK | -17% |
| Equity | -0B NOK | -129% |
| Employees | 1,320 | — |
Company information
Legal name
NOBINA AS
Org number
915768237
Legal form
Aksjeselskap
NACE code
Founded
28 November 1969 · 56 years
Share capital
NOK 33,567,820
Employees
1,320 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2026-02-28
Financial year
January – December
Signatory rights
Daglig leder alene.
Contact
Address
4. Etasje Schweigaards Gate 14, 0185 Oslo
Website
https://www.nobina.no
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Financial development
In its most recent annual report (2026), Nobina AS reported revenue of NOK 1.6bn, a decrease of 1% on the year before. The figures on this page draw on 5 annual filings covering 2022 to 2026. The bottom line showed a net loss of NOK 140.2m, and the EBITDA margin stood at -6.7%.
At the end of 2026, current assets covered short-term debt 0.7 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 1,619,750 | 1,638,138 | 1,539,248 | 1,393,960 | 1,264,263 |
| Staff expenses | -838,274 | -920,499 | -769,406 | -685,865 | -647,834 |
| EBITDA | -109,130 | -125,915 | -14,570 | 74,190 | 59,313 |
| Depreciation & amort. | -13,856 | -11,749 | -10,652 | -10,028 | -12,283 |
| EBIT | -122,986 | -137,664 | -25,222 | 64,162 | 47,030 |
| Net financials | -17,180 | 7,230 | 19,062 | -17,588 | -6,681 |
| Profit before tax | -140,166 | -130,434 | -6,160 | 46,574 | 40,349 |
| Tax | -0 | -0 | -366 | -14,000 | -0 |
| Net profit | -140,166 | -130,434 | -5,794 | 60,574 | 40,349 |
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Balance sheet
NOK thousands| Item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Total assets | 390,067 | 468,954 | 547,152 | 486,650 | 419,021 |
| Equity | -23,322 | 80,525 | 210,958 | 216,750 | 156,176 |
| Long-term debt | 0 | 0 | 0 | 0 | 0 |
| Short-term debt | 413,391 | 388,429 | 336,194 | 269,900 | 262,845 |
| Total debt | 413,391 | 388,429 | 336,194 | 269,900 | 262,845 |
Financial ratios
5-year trendEBITDA margin
-6.7 %
20222026
Equity ratio
-6.0 %
Very weakAmong the 20% lowest rated companies in the industry
20222026
Return on equity
—
20222026
Net profit margin
-8.7 %
Very weakAmong the 20% lowest rated companies in the industry
20222026
Asset turnover
4.15×
Very strongAmong the 10% highest rated companies in the industry
20222026
Debt / equity
—
20222026
Sector performance
22 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginAverage
Around the average of companies in the same 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 20% 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 20% 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 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.
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 ratioWeak
Among the 40% 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.
Return on equity (ROE)Not rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on net assets (RONA)Not rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Liquidity
Current ratioVery weak
Among the 20% 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 ratioVery weak
Among the 20% 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 10% lowest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
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.
Current assets to equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
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 capitalNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
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.
Debt & solvency
Solidity ratioVery weak
Among the 20% 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 ratioVery weak
Among the 20% 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.
Income to debtVery weak
Among the 20% 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 20% 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 20% lowest 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 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.
Debt to equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Efficiency & development
Asset turnoverVery strong
Among the 10% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverVery weak
Among the 10% 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 capitalVery weak
Among the 20% lowest 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 weak
Among the 10% lowest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtAverage
Around the average of companies in the same industry
The size of this year's increase or decrease in the company's debt.
Annual reports & filings
- Annual report 2026Filed via Brønnøysundsregistrene · Period 2025-03-01 – 2026-02-28
- Annual report 2025Filed via Brønnøysundsregistrene · Period 2024-03-01 – 2025-02-28
- Annual report 2024Filed via Brønnøysundsregistrene · Period 2023-03-01 – 2024-02-29
- Annual report 2023Filed via Brønnøysundsregistrene · Period 2022-03-01 – 2023-02-28
- Annual report 2022Filed via Brønnøysundsregistrene · Period 2021-03-01 – 2022-02-28
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
AK Chief Executive Officer | Chief Executive Officer | 2024 |
Former (2)
JV Chief Executive Officer | Chief Executive Officer | 2017 – 2023 |
TW Chief Executive Officer | Chief Executive Officer | 2023 – 2024 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (6) | ||
KG Board of Directors | Board of Directors | 2021 |
LH Chairman | Chairman | 2022 |
VK Board of Directors | Board of Directors | 2023 |
HV Board of Directors | Board of Directors | 2025 |
EM Board of Directors | Board of Directors | 2023 |
AK Board of Directors | Board of Directors | 2024 |
Former (6)
JV Board of Directors | Board of Directors | 2021 – 2023 |
TW Board of Directors | Board of Directors | 2023 – 2024 |
VH Board of Directors | Board of Directors | 2021 – 2025 |
MK Board of Directors | Board of Directors | 2021 – 2023 |
KM Chairman | Chairman | 2021 – 2022 |
AP Board of Directors | Board of Directors | 2021 – 2022 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
Concordia Bus Nordic Ab | Company | 100% | 100% | 2025 |
Concordia Bus Nordic Ab | Company | 100% | 100% | 2020 |
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Company hierarchy
Concordia Bus Nordic Ab
Nobina AS Board network connections
Board members of Nobina AS also hold positions in 53 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Jan Volsdal | Chief Executive Officer | 27 companiesMany roles |
| Anne Karine Nordseth | Chief Executive Officer | 7 companiesMany roles |
| Tonje Wikstrøm Frislid | Chief Executive Officer | 4 companies |
| Lars Henrik Dagnäs | Chairman | 3 companies |
| Karl Magnus Rosén | Chairman | 3 companies |
| Anna Pernilla Valfridsson | Board of Directors | 3 companies |
| Knut Gunvald Trondsen | Board of Directors | 2 companies |
| Morten Kvam | Board of Directors | 2 companies |
| Vidar Kristian Halvorsen | Board of Directors | 1 company |
| Victor Høy Ree-Lindstad | Board of Directors | 1 company |
Frequently asked questions
What is the Org number of Nobina AS?
Nobina AS is registered with Brønnøysundsregistrene under Org 915768237.
What is the revenue of Nobina AS?
Nobina AS reported revenue of NOK 1.6bn in 2026.
How many employees does Nobina AS have?
Nobina AS employs 1320 people as of the latest annual report.
Who is the CEO of Nobina AS?
Anne Karine Nordseth is the CEO of Nobina AS, in role since 2024.
Who is the chairman of Nobina AS?
Lars Henrik Dagnäs chairs the board of Nobina AS, in role since 2022.
Where is Nobina AS headquartered?
Nobina AS's registered address is 4. Etasje Schweigaards Gate 14.