Ulmo AS
ASActiveOrg 932958252Ålesundsvegen 1136, 6240 ØrskogEngineering activities and related technical consultancy· NACE 7112Est. 2024 · 2 years old34 employees
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Overview
Ulmo AS is a Norwegian AS based in Ørskog, operating in the Engineering activities and related technical consultancy sector. Incorporated in 2024, the company has 34 employees and reported revenue of NOK 57.4m in its latest annual filing.
Revenue 2025
57.4M NOK
+49% vs 2024
EBITDA margin
−0.6 %
−115% vs 2024
Net profit 2025
-0.4M NOK
-33% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
15.3 %
WeakAmong the 30% lowest rated companies in the industry
20242025
Liquidity ratioCurrent assets ÷ Short-term debt
1.3×
WeakAmong the 40% lowest rated companies in the industry
20242025
Return on assets (ROA)Net profit ÷ Total assets × 100
-2.5 %
WeakAmong the 40% lowest rated companies in the industry
20242025
EBITDA — year on year
NOK thousandsKey figures
Annual report 2025| Revenue | 57.4M NOK | +49% |
| EBITDA | -0.3M NOK | -115% |
| Net profit | -0.4M NOK | -33% |
| Total assets | 17.4M NOK | +31% |
| Equity | 2.7M NOK | -11% |
| Employees | 34 | — |
Company information
Legal name
ULMO AS
Org number
932958252
Legal form
Aksjeselskap
NACE code
Founded
16 January 2024 · 2 years
Share capital
NOK 60,000
Employees
34 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Daglig leder og ett styremedlem i fellesskap.
Company purpose
Salg, utvikling og produksjon av varer og tjenester mot industri, kommunalteknisk og olje og gass markedet. Herunder også å delta i andre selskaper med lignende virksomhet, kjøp og salg av aksjer og eiendom, eller på annen måte gjøre seg interessert i andre foretagender.
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Address
Ålesundsvegen 1136, 6240 Ørskog
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Financial development
In its most recent annual report (2025), Ulmo AS reported revenue of NOK 57.4m, an increase of 49% on the year before. The figures on this page draw on 2 annual filings covering 2024 to 2025. The bottom line showed a net loss of NOK 428.1k, and the EBITDA margin stood at -0.6%.
At the end of 2025, equity financed 15.3% of the balance sheet, and current assets covered short-term debt 1.3 times.
Financials
Revenue
NOK millionsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2025 | 2024 |
|---|---|---|
| Revenue | 57,433 | 38,612 |
| Staff expenses | -23,519 | -20,644 |
| EBITDA | -347 | -162 |
| Depreciation & amort. | -311 | -286 |
| EBIT | -658 | -447 |
| Net financials | 111 | 35 |
| Profit before tax | -547 | -412 |
| Tax | -119 | -89 |
| Net profit | -428 | -323 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 |
|---|---|---|
| Total assets | 17,436 | 13,348 |
| Equity | 2,660 | 3,000 |
| Long-term debt | 1,458 | 1,931 |
| Short-term debt | 13,318 | 8,417 |
| Total debt | 14,776 | 10,348 |
Financial ratios
5-year trendEBITDA margin
-0.6 %
20242025
Equity ratio
15.3 %
WeakAmong the 30% lowest rated companies in the industry
20242025
Return on equity
-16.1 %
Very weakAmong the 20% lowest rated companies in the industry
20242025
Net profit margin
-0.7 %
WeakAmong the 30% lowest rated companies in the industry
20242025
Asset turnover
3.29×
Very strongAmong the 20% highest rated companies in the industry
20242025
Debt / equity
5.55×
Very weakAmong the 20% lowest rated companies in the industry
20242025
Sector performance
28 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 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 30% 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 20% 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)Very weak
Among the 20% 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)Weak
Among the 40% 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 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 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 ratioWeak
Among the 30% 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 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 30% lowest rated companies in the 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 20% 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 20% 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 debtWeak
Among the 40% lowest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageWeak
Among the 30% lowest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtWeak
Among the 40% lowest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginWeak
Among the 40% 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 turnoverVery strong
Among the 20% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverWeak
Among the 30% lowest rated companies in the industry
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 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 equityWeak
Among the 30% lowest 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 30% lowest rated companies in the industry
The size of this year's increase or decrease in the company's debt.
Annual reports & filings
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
LF Chief Executive Officer | Chief Executive Officer | 2025 |
Former (2)
SL Chief Executive Officer | Chief Executive Officer | 2024 – 2024 |
ØV Chief Executive Officer | Chief Executive Officer | 2024 – 2025 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (3) | ||
MS Board of Directors | Board of Directors | 2026 |
KV Chairman | Chairman | 2026 |
UJ Board of Directors | Board of Directors | 2024 |
Former (7)
SS Board of Directors | Board of Directors | 2024 – 2026 |
AG Board of Directors | Board of Directors | 2024 – 2024 |
SS Board of Directors | Board of Directors | 2024 – 2024 |
SA Chairman | Chairman | 2024 – 2026 |
EH Chairman | Chairman | 2024 – 2024 |
SL Board of Directors | Board of Directors | 2024 – 2024 |
PA Board of Directors | Board of Directors | 2024 – 2024 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 100% | 100% | 2024 |
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Company hierarchy
Pipelife Norge As
Ulmo AS Board network connections
Board members of Ulmo AS also hold positions in 62 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Erik Høyvik | Chairman | 14 companiesMany roles |
| Stig Lennart Stokke | Chief Executive Officer | 12 companiesMany roles |
| Pål Arne Devold | Board of Directors | 8 companiesMany roles |
| Stein Skaaden | Board of Directors | 7 companiesMany roles |
| Ørjan Vårdal | Chief Executive Officer | 5 companies |
| Sigmund Aandstad | Chairman | 5 companies |
| Ulf Jøran Selander | Board of Directors | 4 companies |
| Lene Fosseng Sjøholt | Chief Executive Officer | 2 companies |
| Silje Storsand Ustad | Board of Directors | 2 companies |
| Arve Gangstad | Board of Directors | 2 companies |
| Marie Sneeggen | Board of Directors | 1 company |
Frequently asked questions
What is the Org number of Ulmo AS?
Ulmo AS is registered with Brønnøysundsregistrene under Org 932958252.
What is the revenue of Ulmo AS?
Ulmo AS reported revenue of NOK 57.4m in 2025.
How many employees does Ulmo AS have?
Ulmo AS employs 34 people as of the latest annual report.
Who is the CEO of Ulmo AS?
Lene Fosseng Sjøholt is the CEO of Ulmo AS, in role since 2025.
Who is the chairman of Ulmo AS?
Kai Veini Puustinen chairs the board of Ulmo AS, in role since 2026.
Where is Ulmo AS headquartered?
Ulmo AS's registered address is Ålesundsvegen 1136.