Wal AS
ASActiveOrg 931605496Karenslyst Allé 5, 0278 OsloActivities of advertising agencies· NACE 7311Est. 2023 · 3 years old324 employees
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Overview
Wal AS is a Norwegian AS based in Oslo, operating in the Activities of advertising agencies sector. Incorporated in 2023, the company has 324 employees and reported revenue of NOK 272.5m in its latest annual filing.
Revenue 2025
272.5M NOK
+23% vs 2024
EBITDA margin
6.7 %
+18% vs 2024
Net profit 2025
17.2M NOK
+108% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
5.6 %
WeakAmong the 30% lowest rated companies in the industry
20232025
Liquidity ratioCurrent assets ÷ Short-term debt
1.0×
WeakAmong the 30% lowest rated companies in the industry
20232025
Return on assets (ROA)Net profit ÷ Total assets × 100
14.4 %
StrongAmong the 40% highest rated companies in the industry
20232025
EBITDA — year on year
NOK millionsKey figures
Annual report 2025| Revenue | 272.5M NOK | +23% |
| EBITDA | 18.2M NOK | +18% |
| Net profit | 17.2M NOK | +108% |
| Total assets | 119.3M NOK | +11% |
| Equity | 6.7M NOK | +4% |
| Employees | 324 | — |
Company information
Legal name
WAL AS
Org number
931605496
Legal form
Aksjeselskap
NACE code
Founded
1 May 2023 · 3 years
Share capital
NOK 5,000,000
Employees
324 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Øystein lasse tynning
Company purpose
Arrangør- og konsulentvirksomhet innenfor områdene pr, reklame, markedsføring og events, samt produsere varer og tjenester innenfor disse områdene, samt å eie og investere i aksjer i andre selskaper, og alt som naturlig står i sammenheng med det.
(no translation available)
Address
Karenslyst Allé 5, 0278 Oslo
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Financial development
In its most recent annual report (2025), Wal AS reported revenue of NOK 272.5m, an increase of 23% 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 17.2m, and the EBITDA margin stood at 6.7%.
At the end of 2025, equity financed 5.6% of the balance sheet, and current assets covered short-term debt 1 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Revenue | 272,462 | 221,889 | 64,735 |
| Staff expenses | -94,492 | -75,457 | -35,963 |
| EBITDA | 18,152 | 15,336 | -5,940 |
| Depreciation & amort. | -1,397 | -1,397 | -0 |
| EBIT | 16,755 | 13,939 | -5,940 |
| Net financials | 4,778 | 3,936 | 992 |
| Profit before tax | 21,533 | 17,875 | -4,948 |
| Tax | 4,313 | 9,613 | -1,087 |
| Net profit | 17,220 | 8,263 | -3,861 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total assets | 119,312 | 107,945 | 65,953 |
| Equity | 6,675 | 6,405 | 6,343 |
| Long-term debt | 3,151 | 3,981 | 0 |
| Short-term debt | 109,486 | 97,559 | 59,610 |
| Total debt | 112,637 | 101,540 | 59,610 |
Financial ratios
5-year trendEBITDA margin
6.7 %
20232025
Equity ratio
5.6 %
WeakAmong the 30% lowest rated companies in the industry
20232025
Return on equity
258.0 %
Very strongAmong the 10% highest rated companies in the industry
20232025
Net profit margin
6.3 %
AverageAround the average of companies in the same industry
20232025
Asset turnover
2.28×
StrongAmong the 30% highest rated companies in the industry
20232025
Debt / equity
16.87×
Very weakAmong the 10% lowest rated companies in the industry
20232025
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 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 marginAverage
Around the average of companies in the same 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 marginAverage
Around the average of companies in the same 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)Strong
Among the 40% 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)Strong
Among the 30% 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 ratioStrong
Among the 40% 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 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 ratioVery weak
Among the 20% lowest 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 capitalWeak
Among the 30% 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 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 debtAverage
Around the average of companies in the same 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 coverageStrong
Among the 30% highest rated companies in the 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 marginStrong
Among the 40% 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 capitalWeak
Among the 40% 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 equityAverage
Around the average of companies in the same 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
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
HM Chief Executive Officer | Chief Executive Officer | 2023 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (4) | ||
ØL Board of Directors | Board of Directors | 2024 |
HM Chairman | Chairman | 2024 |
JT Board of Directors | Board of Directors | 2024 |
KI Board of Directors | Board of Directors | 2024 |
Former (1)
KB Chairman | Chairman | 2023 – 2023 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 94% | 94% | 2024 | |
| Company | 2% | 2% | 2024 | |
| Company | 2% | 2% | 2024 | |
| Company | 2% | 2% | 2024 |
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Company hierarchy
Wal Holding As
Wal AS Board network connections
Board members of Wal AS also hold positions in 363 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Kristian Brekke Djuve | Chairman | 320 companiesMany roles |
| Øystein Lasse Tynning | Board of Directors | 24 companiesMany roles |
| Julie Torgersen | Board of Directors | 9 companiesMany roles |
| Herman Mueller Stormyr | Chief Executive Officer | 8 companiesMany roles |
| Kaja Isnes | Board of Directors | 2 companies |
Frequently asked questions
What is the Org number of Wal AS?
Wal AS is registered with Brønnøysundsregistrene under Org 931605496.
What is the revenue of Wal AS?
Wal AS reported revenue of NOK 272.5m in 2025.
How many employees does Wal AS have?
Wal AS employs 324 people as of the latest annual report.
Who is the CEO of Wal AS?
Herman Mueller Stormyr is the CEO of Wal AS.
Who is the chairman of Wal AS?
Herman Mueller Stormyr chairs the board of Wal AS, in role since 2024.
Where is Wal AS headquartered?
Wal AS's registered address is Karenslyst Allé 5.