Sevan Deepwater Technology AS
ASActiveOrg 920039952Fantoftvegen 2, 5072 BergenEngineering activities and related technical consultancy· NACE 7112Est. 2017 · 8 years old32 employeeshttps://www.sevanssp.com
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Overview
Sevan Deepwater Technology AS is a Norwegian AS based in Bergen, operating in the Engineering activities and related technical consultancy sector. Incorporated in 2017, the company has 32 employees and reported revenue of NOK 35.3m in its latest annual filing.
Revenue 2025
35.3M NOK
−44% vs 2024
EBITDA margin
−59.4 %
−1018% vs 2024
Net profit 2025
-26.5M NOK
-5782% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
-22.9 %
Very weakAmong the 20% lowest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
0.7×
Very weakAmong the 20% lowest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
-76.5 %
Very weakAmong the 10% lowest rated companies in the industry
20212025
EBITDA — year on year
NOK millionsKey figures
Annual report 2025| Revenue | 35.3M NOK | -44% |
| EBITDA | -21M NOK | -1018% |
| Net profit | -26.5M NOK | -5782% |
| Total assets | 34.7M NOK | -28% |
| Equity | -7.9M NOK | -143% |
| Employees | 32 | — |
Company information
Legal name
SEVAN DEEPWATER TECHNOLOGY AS
Org number
920039952
Legal form
Aksjeselskap
NACE code
Founded
29 November 2017 · 8 years
Share capital
NOK 30,300
Employees
32 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Styrets medlemmer hver for seg eller daglig leder alene
Company purpose
Leveranse av varer og tjenester til energiindustrien og virksomhet som står i forbindelse med dette, samt investere i andre selskaper.
(no translation available)
Contact
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Financial development
In its most recent annual report (2025), Sevan Deepwater Technology AS reported revenue of NOK 35.3m, a decrease of 44% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net loss of NOK 26.5m, and the EBITDA margin stood at -59.4%.
At the end of 2025, current assets covered short-term debt 0.7 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 35,299 | 63,250 | 57,013 | 91,539 | 77,620 |
| Staff expenses | -46,765 | -46,305 | -43,878 | -40,426 | -33,413 |
| EBITDA | -20,962 | 2,284 | -2,301 | 12,136 | 9,939 |
| Depreciation & amort. | -4,286 | -2,726 | -3,991 | -3,543 | -3,062 |
| EBIT | -25,248 | -442 | -6,292 | 8,593 | 6,877 |
| Net financials | -1,278 | -130 | 296 | -11 | -253 |
| Profit before tax | -26,526 | -572 | -5,996 | 8,582 | 6,624 |
| Tax | -0 | -121 | -1,302 | 1,903 | -291 |
| Net profit | -26,526 | -451 | -4,694 | 6,679 | 6,915 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 34,679 | 48,267 | 37,518 | 40,770 | 35,920 |
| Equity | -7,949 | 18,578 | 18,956 | 23,650 | 16,971 |
| Long-term debt | 16,099 | 19,617 | 7,695 | 0 | 2,821 |
| Short-term debt | 26,530 | 10,071 | 10,867 | 17,120 | 16,128 |
| Total debt | 42,629 | 29,688 | 18,562 | 17,120 | 18,949 |
Financial ratios
5-year trendEBITDA margin
-59.4 %
20212025
Equity ratio
-22.9 %
Very weakAmong the 20% lowest rated companies in the industry
20212025
Return on equity
—
20212025
Net profit margin
-75.1 %
Very weakAmong the 10% lowest rated companies in the industry
20212025
Asset turnover
1.02×
AverageAround the average of companies in the same industry
20212025
Debt / equity
—
20212025
Sector performance
22 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 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 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 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 ratioWeak
Among the 40% lowest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Fixed assets to long-term capitalVery weak
Among the 10% lowest 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 ratioWeak
Among the 30% 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.
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 coverageWeak
Among the 30% 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.
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 turnoverAverage
Around the average of companies in the same industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Equity to contributed capitalVery weak
Among the 10% 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 debtWeak
Among the 30% 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 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) | ||
KB Chief Executive Officer | Chief Executive Officer | 2026 |
Former (3)
AR Chief Executive Officer | Chief Executive Officer | 2019 – 2023 |
FH Chief Executive Officer | Chief Executive Officer | 2023 – 2025 |
OS Chief Executive Officer | Chief Executive Officer | 2025 – 2026 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (2) | ||
OS Board of Directors | Board of Directors | 2019 |
AH Chairman | Chairman | 2023 |
Former (4)
SH Chairman | Chairman | 2019 – 2023 |
| Chairman | 2023 – 2023 | |
TB Board of Directors | Board of Directors | 2019 – 2025 |
SM Board of Directors | Board of Directors | 2023 – 2025 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
Seatrium Limited | Company | 100% | 100% | 2025 |
Sembcorp Marine Integrated Yard Pte | Company | 100% | 100% | 2020 |
Seatrium Limited | Company | 100% | 100% | 2023 |
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Company hierarchy
Seatrium Limited100%Sembcorp Marine Integrated Yard Pte100%
Sevan Deepwater Technology AS (this company)Board network connections
Board members of Sevan Deepwater Technology AS also hold positions in 25 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Knut Bredahl | Chief Executive Officer | 11 companiesMany roles |
| Torbjørn Bringedal | Board of Directors | 5 companies |
| Alf Roger Skikstein | Chief Executive Officer | 3 companies |
| Frank Hopen | Chief Executive Officer | 3 companies |
| Otto Svein Skjåstad | Chief Executive Officer | 2 companies |
| Amirali Hasham Merchant Aziz | Chairman | 1 company |
Frequently asked questions
What is the Org number of Sevan Deepwater Technology AS?
Sevan Deepwater Technology AS is registered with Brønnøysundsregistrene under Org 920039952.
What is the revenue of Sevan Deepwater Technology AS?
Sevan Deepwater Technology AS reported revenue of NOK 35.3m in 2025.
How many employees does Sevan Deepwater Technology AS have?
Sevan Deepwater Technology AS employs 32 people as of the latest annual report.
Who is the CEO of Sevan Deepwater Technology AS?
Knut Bredahl is the CEO of Sevan Deepwater Technology AS, in role since 2026.
Who is the chairman of Sevan Deepwater Technology AS?
Amirali Hasham Merchant Aziz chairs the board of Sevan Deepwater Technology AS, in role since 2023.
Where is Sevan Deepwater Technology AS headquartered?
Sevan Deepwater Technology AS's registered address is Fantoftvegen 2.