First Seagull AS
ASActiveOrg 930469017Åsta Kongsmors Gate 21, 4044 HafrsfjordActivities of money market and non-money market investments funds· NACE 6431Est. 2022 · 4 years old0 employees
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Overview
First Seagull AS is a Norwegian AS based in Hafrsfjord, operating in the Activities of money market and non-money market investments funds sector. Incorporated in 2022, the company has 0 employees and reported revenue of NOK 38.3m in its latest annual filing.
Revenue 2025
38.3M NOK
+365% vs 2024
EBITDA margin
96.9 %
+383% vs 2024
Net profit 2025
30.2M NOK
+339% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
90.7 %
WeakAmong the 40% lowest rated companies in the industry
20232025
Liquidity ratioCurrent assets ÷ Short-term debt
10.8×
AverageAround the average of companies in the same industry
20232025
Return on assets (ROA)Net profit ÷ Total assets × 100
30.0 %
Very strongAmong the 20% highest rated companies in the industry
20232025
EBITDA — year on year
NOK millionsKey figures
Annual report 2025| Revenue | 38.3M NOK | +365% |
| EBITDA | 37.1M NOK | +383% |
| Net profit | 30.2M NOK | +339% |
| Total assets | 100.5M NOK | +27% |
| Equity | 91.1M NOK | +49% |
| Employees | 0 | — |
Company information
Legal name
FIRST SEAGULL AS
Org number
930469017
Legal form
Aksjeselskap
Founded
29 September 2022 · 4 years
Share capital
NOK 2,210,000
Employees
0 (FTE)
VAT registered
No
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Styrets leder alene.
Company purpose
Investeringsselskap som skal forvaltes og markedsføres etter lov om forvaltning av alternative investeringsfond.
(no translation available)
Address
Åsta Kongsmors Gate 21, 4044 Hafrsfjord
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Financial development
In its most recent annual report (2025), First Seagull AS reported revenue of NOK 38.3m, an increase of 365% on the year before. The figures on this page draw on 3 annual filings covering 2023 to 2025. The bottom line showed a net profit of NOK 30.2m, and the EBITDA margin stood at 96.9%.
At the end of 2025, equity financed 90.7% of the balance sheet, and current assets covered short-term debt 10.8 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Revenue | 38,313 | 8,246 | 2,880 |
| Staff expenses | -103 | -0 | -0 |
| EBITDA | 37,127 | 7,681 | 2,399 |
| Depreciation & amort. | -0 | -0 | -0 |
| EBIT | 37,127 | 7,681 | 2,399 |
| Net financials | -6,238 | -809 | 2,334 |
| Profit before tax | 30,889 | 6,873 | 4,734 |
| Tax | 720 | -0 | -0 |
| Net profit | 30,169 | 6,873 | 4,734 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total assets | 100,465 | 78,798 | 59,200 |
| Equity | 91,122 | 60,953 | 54,080 |
| Long-term debt | 0 | 0 | 0 |
| Short-term debt | 9,343 | 17,845 | 5,120 |
| Total debt | 9,343 | 17,845 | 5,120 |
Financial ratios
5-year trendEBITDA margin
96.9 %
20232025
Equity ratio
90.7 %
WeakAmong the 40% lowest rated companies in the industry
20232025
Return on equity
33.1 %
Very strongAmong the 20% highest rated companies in the industry
20232025
Net profit margin
78.7 %
WeakAmong the 40% lowest rated companies in the industry
20232025
Asset turnover
0.38×
Very strongAmong the 10% highest rated companies in the industry
20232025
Debt / equity
0.10×
WeakAmong the 40% lowest rated companies in the industry
20232025
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 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 marginVery strong
Among the 20% 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 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)Very strong
Among the 20% 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 20% 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 10% 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 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 equityVery weak
Among the 20% 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.
Cash conversion ratioVery strong
Among the 10% highest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Fixed assets to long-term capitalNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
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.
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 40% 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 debtVery strong
Among the 10% 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 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 marginVery strong
Among the 20% 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 turnoverVery strong
Among the 10% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Equity to contributed capitalAverage
Around the average of companies in the same 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 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) | ||
SA Chief Executive Officer | Chief Executive Officer | 2023 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (3) | ||
SA Chairman | Chairman | 2023 |
GL Board of Directors | Board of Directors | 2023 |
EB Board of Directors | Board of Directors | 2023 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 15.93% | 15.93% | 2025 | |
| Company | 10.44% | 10.44% | 2023 | |
| Company | 7.14% | 7.14% | 2023 | |
| Company | 5.49% | 5.49% | 2023 | |
| Company | 4.4% | 4.4% | 2023 | |
| Company | 3.85% | 3.85% | 2023 | |
| Company | 3.85% | 3.85% | 2023 | |
| Company | 2.75% | 2.75% | 2023 | |
| Company | 2.75% | 2.75% | 2023 | |
| Company | 2.2% | 2.2% | 2023 | |
| Company | 2.2% | 2.2% | 2023 | |
Soler-Dauset | Company | 2.2% | 2.2% | 2025 |
| Company | 1.65% | 1.65% | 2025 | |
| Company | 1.65% | 1.65% | 2023 | |
| Company | 1.65% | 1.65% | 2023 | |
| Company | 1.65% | 1.65% | 2023 | |
| Company | 1.65% | 1.65% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Individual | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
Patrick Chen | Company | 1.1% | 1.1% | 2025 |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Individual | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
| Company | 1.1% | 1.1% | 2023 | |
Soler-Dauset | Company | 2.2% | 2.2% | 2023 |
Solerdauset | Company | 2.2% | 2.2% | 2024 |
Patrick Chen | Company | 1.1% | 1.1% | 2023 |
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Company hierarchy
Gjøstøl Invest As7.1429%H1 Capital As15.9341%Snefred Invest As5.4945%Hio Xiv As10.4396%Aetos Invest As4.4%Skaldalefy As3.85%Mbmc Invest As3.85%Coinv Spv Seagull As2.75%Tanstaafl As2.75%Soler-Dauset2.2%Flekken Invest As1.65%Ar Investeringer As1.65%Aminvest As1.65%Trioinvest As1.65%Fossen Finans As1.1%Whetstone As1.1%Molnar Invest As1.1%Procopius As1.1%Davies As1.1%Oreg As1.1%Patrick Chen1.1%Jgn Holding As1.1%Phjora As1.1%Emg Invest As1.1%Thulun As1.1%Hajanirina As1.1%Siking As1.1%Eider Eiendom As1.1%Ossau As1.1%Csa Invest As1.1%Holtanna As1.1%Zobela As1.1%Jofib As1.1%Solerdauset2.2%
First Seagull AS (this company)Board network connections
Board members of First Seagull AS also hold positions in 23 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Eigil Botten | Board of Directors | 11 companiesMany roles |
| Georg Liasjø | Board of Directors | 9 companiesMany roles |
| Stian Adamsen Husvæg | Chief Executive Officer | 3 companies |
Frequently asked questions
What is the Org number of First Seagull AS?
First Seagull AS is registered with Brønnøysundsregistrene under Org 930469017.
What is the revenue of First Seagull AS?
First Seagull AS reported revenue of NOK 38.3m in 2025.
Who is the CEO of First Seagull AS?
Stian Adamsen Husvæg is the CEO of First Seagull AS, in role since 2023.
Who is the chairman of First Seagull AS?
Stian Adamsen Husvæg chairs the board of First Seagull AS, in role since 2023.
Where is First Seagull AS headquartered?
First Seagull AS's registered address is Åsta Kongsmors Gate 21.