Horgi AS
ASDissolvedOrg 927362686Storrviki 1, 5710 SkulestadmoOppføring av bygninger· NACE 41200Est. 2021 · 5 years old0 employees
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Overview
Horgi AS is a Norwegian AS based in Skulestadmo, operating in the Oppføring av bygninger sector. Incorporated in 2021, the company has 0 employees and reported revenue of NOK 70.1m in its latest annual filing.
Revenue 2023
70.1M NOK
+49% vs 2022
EBITDA margin
7.7 %
+378% vs 2022
Net profit 2023
4.4M NOK
+395% vs 2022
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
6.2 %
WeakAmong the 30% lowest rated companies in the industry
20212023
Liquidity ratioCurrent assets ÷ Short-term debt
1.1×
WeakAmong the 40% lowest rated companies in the industry
20212023
Return on assets (ROA)Net profit ÷ Total assets × 100
20.8 %
Very strongAmong the 20% highest rated companies in the industry
20212023
EBITDA — year on year
NOK thousandsKey figures
Annual report 2023| Revenue | 70.1M NOK | +49% |
| EBITDA | 5.4M NOK | +378% |
| Net profit | 4.4M NOK | +395% |
| Total assets | 21.2M NOK | -32% |
| Equity | 1.3M NOK | +44% |
| Employees | 0 | — |
Company information
Legal name
HORGI AS
Org number
927362686
Legal form
Aksjeselskap
NACE code
41200 · Oppføring av bygninger
Founded
28 May 2021 · 5 years
Share capital
NOK 30,000
Employees
0 (FTE)
VAT registered
No
Audit selected
No
Last report
2023-12-31
Financial year
January – December
Signatory rights
To styremedlemmer i fellesskap. Styrets leder og ett styremedlem i fellesskap. Daglig leder og ett styremedlem i fellesskap.
Company purpose
Oppføring av bygninger, herunder å delta i andre selskap med lignende virksomhet, og kjøp og salg av aksjer eller på annen måte gjøre seg interessert i andre foretak.
(no translation available)
Address
Storrviki 1, 5710 Skulestadmo
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Financial development
In its most recent annual report (2023), Horgi AS reported revenue of NOK 70.1m, an increase of 49% on the year before. The figures on this page draw on 3 annual filings covering 2021 to 2023. The bottom line showed a net profit of NOK 4.4m, and the EBITDA margin stood at 7.7%.
At the end of 2023, equity financed 6.2% of the balance sheet, and current assets covered short-term debt 1.1 times.
Financials
Revenue
NOK millionsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2023 | 2022 | 2021 |
|---|---|---|---|
| Revenue | 70,085 | 47,000 | 0 |
| Staff expenses | -0 | -0 | -0 |
| EBITDA | 5,424 | 1,135 | -7 |
| Depreciation & amort. | -0 | -0 | -0 |
| EBIT | 5,424 | 1,135 | -7 |
| Net financials | 215 | 3 | 0 |
| Profit before tax | 5,638 | 1,138 | -7 |
| Tax | 1,240 | 250 | -2 |
| Net profit | 4,398 | 888 | -6 |
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Balance sheet
NOK thousands| Item | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total assets | 21,183 | 31,136 | 25 |
| Equity | 1,310 | 912 | 24 |
| Long-term debt | 0 | 249 | 0 |
| Short-term debt | 19,872 | 29,975 | 0 |
| Total debt | 19,872 | 30,223 | 0 |
Financial ratios
5-year trendEBITDA margin
7.7 %
20212023
Equity ratio
6.2 %
WeakAmong the 30% lowest rated companies in the industry
20212023
Return on equity
335.6 %
Very strongAmong the 10% highest rated companies in the industry
20212023
Net profit margin
6.3 %
StrongAmong the 40% highest rated companies in the industry
20212023
Asset turnover
3.31×
StrongAmong the 30% highest rated companies in the industry
20212023
Debt / equity
15.17×
Very weakAmong the 10% lowest rated companies in the industry
20212023
Sector performance
27 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginVery weak
Among the 10% 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 40% 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)Very strong
Among the 10% 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)Very strong
Among the 20% 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)Very strong
Among the 10% 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)Very strong
Among the 20% 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 ratioVery strong
Among the 10% 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 ratioWeak
Among the 40% 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 40% 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 ratioStrong
Among the 40% highest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityVery weak
Among the 10% 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 capitalVery strong
Among the 10% 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 ratioAverage
Around the average of companies in the same industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioWeak
Among the 30% 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 ratioWeak
Among the 30% 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.
Debt to equityVery weak
Among the 10% 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 equityVery weak
Among the 10% 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 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 40% highest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageVery strong
Among the 10% highest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtStrong
Among the 30% highest 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 30% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Equity to contributed capitalVery strong
Among the 20% 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 20% highest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtVery strong
Among the 20% highest 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
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
AH Chief Executive Officer | Chief Executive Officer | 2022 |
Former (1)
HH Chief Executive Officer | Chief Executive Officer | 2021 – 2022 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (6) | ||
TM Board of Directors | Board of Directors | 2021 |
HH Board of Directors | Board of Directors | 2021 |
TA Board of Directors | Board of Directors | 2021 |
JD Chairman | Chairman | 2021 |
SH Board of Directors | Board of Directors | 2021 |
GN Board of Directors | Board of Directors | 2021 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 33.33% | 33.33% | 2021 | |
| Company | 33.33% | 33.33% | 2021 | |
| Company | 33.33% | 33.33% | 2021 |
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Company hierarchy
Johs E Øvsthus As
Horgi AS Board network connections
Board members of Horgi AS also hold positions in 69 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Johannes Djuvsland Neteland | Chairman | 17 companiesMany roles |
| Tor Andersen | Board of Directors | 15 companiesMany roles |
| Geir Neteland | Board of Directors | 11 companiesMany roles |
| Håkon Hjartnes | Chief Executive Officer | 8 companiesMany roles |
| Sjur Hermann Rørlien | Board of Directors | 8 companiesMany roles |
| Anders Hjartnes | Chief Executive Officer | 6 companiesMany roles |
| Thomas Mælen | Board of Directors | 4 companies |
Frequently asked questions
What is the Org number of Horgi AS?
Horgi AS is registered with Brønnøysundsregistrene under Org 927362686.
What is the revenue of Horgi AS?
Horgi AS reported revenue of NOK 70.1m in 2023.
Who is the CEO of Horgi AS?
Anders Hjartnes is the CEO of Horgi AS, in role since 2022.
Who is the chairman of Horgi AS?
Johannes Djuvsland Neteland chairs the board of Horgi AS.
Where is Horgi AS headquartered?
Horgi AS's registered address is Storrviki 1.