Recreate ASA
ASADissolvedOrg 920169058Dokkvegen 11, 3920 PorsgrunnRental and operating of own or leased real estate· NACE 6820Est. 2017 · 8 years old0 employeeshttps://www.recreate.no
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Overview
Recreate ASA is a Norwegian ASA based in Porsgrunn, operating in the Rental and operating of own or leased real estate sector. Incorporated in 2017, the company has 0 employees and reported revenue of NOK 17.7m in its latest annual filing.
Revenue 2022
17.7M NOK
+6% vs 2021
EBITDA margin
−194.0 %
−47% vs 2021
Net profit 2022
-202.7M NOK
-1436% vs 2021
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
39.0 %
AverageAround the average of companies in the same industry
20182022
Liquidity ratioCurrent assets ÷ Short-term debt
2.1×
AverageAround the average of companies in the same industry
20182022
Return on assets (ROA)Net profit ÷ Total assets × 100
-33.5 %
Very weakAmong the 10% lowest rated companies in the industry
20182022
EBITDA — year on year
NOK millionsKey figures
Annual report 2022| Revenue | 17.7M NOK | +6% |
| EBITDA | -34.4M NOK | -47% |
| Net profit | -202.7M NOK | -1436% |
| Total assets | 604.5M NOK | -3% |
| Equity | 236M NOK | -46% |
| Employees | 0 | — |
Company information
Legal name
RECREATE ASA
Org number
920169058
Legal form
Allmennaksjeselskap
NACE code
Founded
12 December 2017 · 8 years
Share capital
NOK 5,423,581
Employees
0 (FTE)
VAT registered
No
Audit selected
No
Last report
2022-12-31
Financial year
January – December
Signatory rights
Styrets leder og ett styremedlem i fellesskap. Daglig leder og ett styremedlem i fellesskap.
Company purpose
Eie, drift og utleie av fast eiendom, eie aksjer i andre selskap, investere i aksjer og andre verdipapirer, samt annen virksomhet som står i naturlig tilknytning til dette.
(no translation available)
Contact
Address
Dokkvegen 11, 3920 Porsgrunn
Phone
+47 94 00 98 88
Email
post@recreate.no
Website
https://www.recreate.no
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Financial development
In its most recent annual report (2022), Recreate ASA reported revenue of NOK 17.7m, an increase of 6% on the year before. The figures on this page draw on 5 annual filings covering 2018 to 2022. The bottom line showed a net loss of NOK 202.7m, and the EBITDA margin stood at -194%.
At the end of 2022, equity financed 39% of the balance sheet, and current assets covered short-term debt 2.1 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|
| Revenue | 17,733 | 16,780 | 13,792 | 9,805 | 7,884 |
| Staff expenses | -0 | -0 | -0 | -0 | -0 |
| EBITDA | -34,401 | -23,344 | -23,066 | -8,923 | -3,752 |
| Depreciation & amort. | -218 | -161 | -116 | -69 | -0 |
| EBIT | -34,619 | -23,505 | -23,182 | -8,992 | -3,752 |
| Net financials | -157,274 | 31,402 | -7,214 | -2,717 | 1,439 |
| Profit before tax | -191,893 | 7,897 | -30,396 | -11,709 | -2,313 |
| Tax | -0 | -0 | -0 | -0 | -0 |
| Net profit | -202,676 | 15,176 | -26,265 | -9,853 | -1,830 |
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Balance sheet
NOK thousands| Item | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|
| Total assets | 604,486 | 622,392 | 557,473 | 441,327 | 239,359 |
| Equity | 236,039 | 440,696 | 357,432 | 377,775 | 212,715 |
| Long-term debt | 336,315 | 155,555 | 152,229 | 628 | 9,116 |
| Short-term debt | 32,132 | 26,141 | 47,813 | 62,924 | 17,528 |
| Total debt | 368,447 | 181,696 | 200,042 | 63,552 | 26,644 |
Financial ratios
5-year trendEBITDA margin
-194.0 %
20182022
Equity ratio
39.0 %
AverageAround the average of companies in the same industry
20182022
Return on equity
-85.9 %
Very weakAmong the 10% lowest rated companies in the industry
20182022
Net profit margin
<−999 %
Very weakAmong the 10% lowest rated companies in the industry
20182022
Asset turnover
0.03×
AverageAround the average of companies in the same industry
20182022
Debt / equity
1.56×
AverageAround the average of companies in the same industry
20182022
Sector performance
26 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 marginVery weak
Among the 10% 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 equity (ROE)Very weak
Among the 10% lowest 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 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.
Return on net assets (RONA)Very weak
Among the 10% lowest 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 weak
Among the 20% 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.
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 equityStrong
Among the 40% highest 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 ratioWeak
Among the 40% lowest 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 debtVery weak
Among the 10% 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 40% lowest 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 10% 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.
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.
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 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.
Equity to contributed capitalNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
Annual reports & filings
- Annual report 2022Filed via Brønnøysundsregistrene · Period 2022-01-01 – 2022-12-31
- 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
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
EE Chief Executive Officer | Chief Executive Officer | 2018 |
Former (1)
TV Deputy Member | Deputy Member | 2021 – 2023 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (4) | ||
EC Board of Directors | Board of Directors | 2021 |
ML Board of Directors | Board of Directors | 2021 |
GE Chairman | Chairman | 2021 |
KB Board of Directors | Board of Directors | 2021 |
Former (4)
ET Board of Directors | Board of Directors | 2021 – 2023 |
RR Board of Directors | Board of Directors | 2021 – 2022 |
LO Board of Directors | Board of Directors | 2021 – 2023 |
FR Board of Directors | Board of Directors | 2022 – 2023 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 7.73% | 7.73% | 2023 | |
| Company | 5.53% | 5.53% | 2022 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 2.54% | 2.54% | 2021 | |
| Company | 1.15% | 1.15% | 2021 | |
| Company | 2.77% | 2.77% | 2021 | |
| Company | 2.59% | 2.59% | 2022 | |
| Company | 46% | 46% | 2022 | |
| Company | 1.48% | 1.48% | 2022 | |
| Company | 1.79% | 1.79% | 2021 | |
| Company | 8.68% | 8.68% | 2021 |
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Company hierarchy
Brødrene Jensen AS7.73%Rising Venture As5.53%R-Venture As1.1%Kabbe Holding As1.15%Acini Capital As2.77%Aubert Invest As2.59%Carucel Invest As1.48%Holta & Co. As1.79%Ikab As8.68%
Recreate ASA (this company)Board network connections
Board members of Recreate ASA also hold positions in 306 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Leif Oddvin Jensen | Board of Directors | 142 companiesMany roles |
| Emil Eriksrød | Chief Executive Officer | 45 companiesMany roles |
| George Emil Aubert | Chairman | 39 companiesMany roles |
| Fredrik Rustan Torgersen | Board of Directors | 32 companiesMany roles |
| Knut Bråthen | Board of Directors | 16 companiesMany roles |
| Runar Rønningen | Board of Directors | 13 companiesMany roles |
| Marianne Lie | Board of Directors | 8 companiesMany roles |
| Truls Vad Fjeldberg | Deputy Member | 5 companies |
| Elin Tufte Johansen | Board of Directors | 3 companies |
| Else Christina Maria Sundby | Board of Directors | 3 companies |
Frequently asked questions
What is the Org number of Recreate ASA?
Recreate ASA is registered with Brønnøysundsregistrene under Org 920169058.
What is the revenue of Recreate ASA?
Recreate ASA reported revenue of NOK 17.7m in 2022.
Who is the CEO of Recreate ASA?
Emil Eriksrød is the CEO of Recreate ASA, in role since 2018.
Who is the chairman of Recreate ASA?
George Emil Aubert chairs the board of Recreate ASA, in role since 2021.
Where is Recreate ASA headquartered?
Recreate ASA's registered address is Dokkvegen 11.