Elfly AS
ASActiveOrg 920805078Strandkaien 16, 5013 BergenAll other professional, scientific and technical activities n.e.c.· NACE 7499Est. 2018 · 8 years old26 employeeshttps://el-fly.no
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Overview
Elfly AS is a Norwegian AS based in Bergen, operating in the All other professional, scientific and technical activities n.e.c. sector. Incorporated in 2018, the company has 26 employees and reported revenue of NOK 20.4m in its latest annual filing.
Revenue 2025
20.4M NOK
−1% vs 2024
EBITDA margin
1.5 %
+11% vs 2024
Net profit 2025
0M NOK
26 employees
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
37.6 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
0.9×
WeakAmong the 30% lowest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
0.0 %
WeakAmong the 40% lowest rated companies in the industry
20212025
EBITDA — year on year
NOK thousandsKey figures
Annual report 2025| Revenue | 20.4M NOK | -1% |
| EBITDA | 0.3M NOK | +11% |
| Net profit | 0M NOK | — |
| Total assets | 52.6M NOK | +50% |
| Equity | 19.8M NOK | +214% |
| Employees | 26 | — |
Company information
Legal name
ELFLY AS
Org number
920805078
Legal form
Aksjeselskap
Founded
23 April 2018 · 8 years
Share capital
NOK 1,226,714
Employees
26 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Daglig leder alene. Styrets leder alene.
Company purpose
Produsere fly, eie fly, selge fly, leie ut fly, levere programvare, tjenester og utstyr til fly bransjen, og det som dette måtte medføre. Selskapet skal også kunne eie, eller på annen måte delta i andre forretningstiltak.
(no translation available)
Contact
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Financial development
In its most recent annual report (2025), Elfly AS reported revenue of NOK 20.4m, a decrease of 1% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a break-even result, and the EBITDA margin stood at 1.5%.
At the end of 2025, equity financed 37.6% of the balance sheet, and current assets covered short-term debt 0.9 times.
Financials
Revenue
NOK millionsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 20,394 | 20,523 | 9,307 | 3,326 | 780 |
| Staff expenses | -5,763 | -6,078 | -1,854 | -4,405 | -1,746 |
| EBITDA | 305 | 274 | 95 | -3,699 | -2,022 |
| Depreciation & amort. | -245 | -208 | -60 | -34 | -11 |
| EBIT | 61 | 67 | 35 | -3,733 | -2,033 |
| Net financials | -61 | -67 | -35 | 1 | -1 |
| Profit before tax | -0 | 0 | 0 | -3,733 | -2,034 |
| Tax | -0 | -0 | -0 | -0 | -0 |
| Net profit | 0 | 0 | 0 | -3,733 | -2,034 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 52,613 | 35,160 | 19,241 | 5,604 | 3,477 |
| Equity | 19,804 | 6,311 | 6,311 | 4,344 | 3,076 |
| Long-term debt | 25,015 | 25,015 | 10,015 | 0 | 0 |
| Short-term debt | 7,794 | 3,833 | 2,915 | 1,261 | 401 |
| Total debt | 32,809 | 28,848 | 12,930 | 1,261 | 401 |
Financial ratios
5-year trendEBITDA margin
1.5 %
20212025
Equity ratio
37.6 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Return on equity
0.0 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Net profit margin
0.0 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Asset turnover
0.39×
AverageAround the average of companies in the same industry
20212025
Debt / equity
1.66×
WeakAmong the 40% lowest rated companies in the industry
20212025
Sector performance
26 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 marginWeak
Among the 40% 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 marginWeak
Among the 40% 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)Weak
Among the 40% 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)Weak
Among the 40% 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)Weak
Among the 40% 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)Average
Around the average of companies in the same industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioAverage
Around the average of companies in the same 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 30% 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 30% 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 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 equityVery strong
Among the 20% 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 capitalVery weak
Among the 20% 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 ratioNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioWeak
Among the 40% 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 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 equityWeak
Among the 40% 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 equityWeak
Among the 30% 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 debtWeak
Among the 40% lowest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtAverage
Around the average of companies in the same industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageAverage
Around the average of companies in the same 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 marginAverage
Around the average of companies in the same 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.
Equity to contributed capitalStrong
Among the 30% 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 equityVery strong
Among the 10% highest 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 40% 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) | ||
EF Chief Executive Officer | Chief Executive Officer | 2018 |
Former (1)
MA Deputy Member | Deputy Member | 2020 – 2025 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (4) | ||
SX Board of Directors | Board of Directors | 2025 |
EF Board of Directors | Board of Directors | 2025 |
ES Board of Directors | Board of Directors | 2020 |
GS Chairman | Chairman | 2025 |
Former (2)
CM Board of Directors | Board of Directors | 2022 – 2025 |
HF Board of Directors | Board of Directors | 2020 – 2022 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 68.23% | 68.23% | 2025 | |
| Company | 14.78% | 14.78% | 2022 | |
| Company | 9.86% | 9.86% | 2022 | |
| Company | 1.6% | 1.6% | 2022 | |
| Company | 0.99% | 0.99% | 2022 | |
| Company | 0.99% | 0.99% | 2022 | |
| Individual | 0.27% | 0.27% | 2022 | |
| Individual | 0.27% | 0.27% | 2022 |
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Company hierarchy
Rakettmaskin As14.783%Icode As9.8551%:-) Invest As68.227%B20 Invest As1.6%Re-Creationroom As0.99%Aileron As0.99%
Elfly AS (this company)Board network connections
Board members of Elfly AS also hold positions in 50 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Grethe Skundberg | Chairman | 17 companiesMany roles |
| Christina Moe Gjerde | Board of Directors | 11 companiesMany roles |
| Eric Francois Lithun | Chief Executive Officer | 9 companiesMany roles |
| Eirik Sandal | Board of Directors | 5 companies |
| Magnus Alvestad | Deputy Member | 4 companies |
| Helene Frihammer | Board of Directors | 4 companies |
Frequently asked questions
What is the Org number of Elfly AS?
Elfly AS is registered with Brønnøysundsregistrene under Org 920805078.
What is the revenue of Elfly AS?
Elfly AS reported revenue of NOK 20.4m in 2025.
How many employees does Elfly AS have?
Elfly AS employs 26 people as of the latest annual report.
Who is the CEO of Elfly AS?
Eric Francois Lithun is the CEO of Elfly AS.
Who is the chairman of Elfly AS?
Grethe Skundberg chairs the board of Elfly AS, in role since 2025.
Where is Elfly AS headquartered?
Elfly AS's registered address is Strandkaien 16.