Itec AS
ASActiveOrg 918011625Ringdalskogen 101, 3270 LarvikWholesale of other machinery and equipment· NACE 4664Est. 2016 · 9 years old39 employeeshttps://www.itec.as
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Overview
Itec AS is a Norwegian AS based in Larvik, operating in the Wholesale of other machinery and equipment sector. Incorporated in 2016, the company has 39 employees and reported revenue of NOK 201.7m in its latest annual filing.
Revenue 2025
201.7M NOK
+19% vs 2024
EBITDA margin
7.3 %
+199% vs 2024
Net profit 2025
11.6M NOK
+252% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
39.5 %
AverageAround the average of companies in the same industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
1.6×
AverageAround the average of companies in the same industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
12.7 %
StrongAmong the 30% highest rated companies in the industry
20212025
EBITDA — year on year
NOK millionsKey figures
Annual report 2025| Revenue | 201.7M NOK | +19% |
| EBITDA | 14.7M NOK | +199% |
| Net profit | 11.6M NOK | +252% |
| Total assets | 91.3M NOK | +2% |
| Equity | 36M NOK | -1% |
| Employees | 39 | — |
Company information
Legal name
ITEC AS
Org number
918011625
Legal form
Aksjeselskap
NACE code
Founded
11 October 2016 · 9 years
Share capital
NOK 100,000
Employees
39 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Styrets leder og ett styremedlem i fellesskap.
Company purpose
Selv, gjennom hel- eller deleide selskaper eller ved samarbeid med andre virksomheter å drive prosjektledelse, salg, installasjon og service av industrielle maskiner og gassutstyr og -anlegg. I tillegg vil selskapet kunne drive forhandlinger og salg av teknisk utstyr som naturlig faller inn under de aktivitetene selskapet driver. Selskapet vil også kunne investere i fast eiendom og verdipapirer.
(no translation available)
Contact
Address
Ringdalskogen 101, 3270 Larvik
Phone
+47 95 80 07 00
Email
itec@itec.as
Website
https://www.itec.as
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Financial development
In its most recent annual report (2025), Itec AS reported revenue of NOK 201.7m, an increase of 19% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net profit of NOK 11.6m, and the EBITDA margin stood at 7.3%.
At the end of 2025, equity financed 39.5% of the balance sheet, and current assets covered short-term debt 1.6 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 201,743 | 169,620 | 159,192 | 131,965 | 104,612 |
| Staff expenses | -34,558 | -34,466 | -32,138 | -25,357 | -16,117 |
| EBITDA | 14,747 | 4,932 | 12,571 | 13,078 | 14,060 |
| Depreciation & amort. | -614 | -568 | -681 | -469 | -582 |
| EBIT | 14,133 | 4,364 | 11,891 | 12,609 | 13,478 |
| Net financials | 788 | -15 | 2,576 | -683 | 125 |
| Profit before tax | 14,921 | 4,349 | 14,466 | 11,926 | 13,603 |
| Tax | -0 | 1,046 | 3,208 | 2,668 | 3,008 |
| Net profit | 11,627 | 3,302 | 11,258 | 9,258 | 10,596 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 91,267 | 89,369 | 95,789 | 72,637 | 42,779 |
| Equity | 36,023 | 36,396 | 37,094 | 30,267 | 20,478 |
| Long-term debt | 0 | 553 | 430 | 718 | 925 |
| Short-term debt | 55,245 | 52,421 | 58,266 | 41,653 | 21,376 |
| Total debt | 55,245 | 52,973 | 58,695 | 42,370 | 22,301 |
Financial ratios
5-year trendEBITDA margin
7.3 %
20212025
Equity ratio
39.5 %
AverageAround the average of companies in the same industry
20212025
Return on equity
32.3 %
StrongAmong the 30% highest rated companies in the industry
20212025
Net profit margin
5.8 %
StrongAmong the 40% highest rated companies in the industry
20212025
Asset turnover
2.21×
StrongAmong the 40% highest rated companies in the industry
20212025
Debt / equity
1.53×
AverageAround the average of companies in the same industry
20212025
Sector performance
28 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginWeak
Among the 40% 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 30% 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)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 30% 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 30% 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 ratioAverage
Around the average of companies in the same industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityWeak
Among the 40% 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 capitalStrong
Among the 30% highest rated companies in the 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 ratioStrong
Among the 40% highest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioAverage
Around the average of companies in the same industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioAverage
Around the average of companies in the same industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityAverage
Around the average of companies in the same industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityAverage
Around the average of companies in the same industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtStrong
Among the 40% highest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtStrong
Among the 30% 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 debtVery weak
Among the 20% 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 40% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverAverage
Around the average of companies in the same 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 strong
Among the 10% 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 40% 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 2025Filed via Brønnøysundsregistrene · Period 2025-01-01 – 2025-12-31
- Annual report 2024Filed via Brønnøysundsregistrene · Period 2024-01-01 – 2024-12-31
- Annual report 2023Filed via Brønnøysundsregistrene · Period 2023-01-01 – 2023-12-31
- Annual report 2022Filed via Brønnøysundsregistrene · Period 2022-01-01 – 2022-12-31
- Annual report 2021Filed via Brønnøysundsregistrene · Period 2021-01-01 – 2021-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
OK Chief Executive Officer | Chief Executive Officer | 2025 |
Former (4)
ØH Chief Executive Officer | Chief Executive Officer | 2022 – 2025 |
OH Chief Executive Officer | Chief Executive Officer | 2016 – 2021 |
OP Chief Executive Officer | Chief Executive Officer | 2021 – 2022 |
LK Chief Executive Officer | Chief Executive Officer | 2025 – 2025 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (2) | ||
OP Board of Directors | Board of Directors | 2025 |
JL Chairman | Chairman | 2025 |
Former (7)
MB Chairman | Chairman | 2022 – 2025 |
OH Board of Directors | Board of Directors | 2021 – 2022 |
KM Board of Directors | Board of Directors | 2021 – 2024 |
SE Board of Directors | Board of Directors | 2021 – 2025 |
GM Board of Directors | Board of Directors | 2021 – 2025 |
TH Chairman | Chairman | 2021 – 2022 |
LK Board of Directors | Board of Directors | 2024 – 2025 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 100% | 100% | 2020 |
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Related companies
Company hierarchy
Itec Holding As
Itec AS Board network connections
Board members of Itec AS also hold positions in 154 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Morten Bjørnsen | Chairman | 50 companiesMany roles |
| Ole Pavljuk | Chief Executive Officer | 21 companiesMany roles |
| Jørgen Lorentz Jørgensen | Chairman | 17 companiesMany roles |
| Gunnar Myhre Henning | Board of Directors | 15 companiesMany roles |
| Ove Haugen | Chief Executive Officer | 14 companiesMany roles |
| Ole Kristian Kongelf Hansejordet | Chief Executive Officer | 13 companiesMany roles |
| Kathrine Molvik | Board of Directors | 10 companiesMany roles |
| Ståle Ellingsen | Board of Directors | 6 companiesMany roles |
| Øyvind Hurlen | Chief Executive Officer | 4 companies |
| Lise Karin Staurnes | Chief Executive Officer | 2 companies |
| Tom Hoffgaard | Chairman | 2 companies |
Frequently asked questions
What is the Org number of Itec AS?
Itec AS is registered with Brønnøysundsregistrene under Org 918011625.
What is the revenue of Itec AS?
Itec AS reported revenue of NOK 201.7m in 2025.
How many employees does Itec AS have?
Itec AS employs 39 people as of the latest annual report.
Who is the CEO of Itec AS?
Ole Kristian Kongelf Hansejordet is the CEO of Itec AS, in role since 2025.
Who is the chairman of Itec AS?
Jørgen Lorentz Jørgensen chairs the board of Itec AS, in role since 2025.
Where is Itec AS headquartered?
Itec AS's registered address is Ringdalskogen 101.