Setech AS
ASActiveOrg 940919657Skålevikveien 60, 5178 LoddefjordMachining of metals· NACE 2553Est. 1986 · 39 years old36 employeeshttps://www.se-tech.no
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Overview
Setech AS is a Norwegian AS based in Loddefjord, operating in the Machining of metals sector. Incorporated in 1986, the company has 36 employees and reported revenue of NOK 93.5m in its latest annual filing.
Revenue 2025
93.5M NOK
−1% vs 2024
EBITDA margin
18.7 %
0% vs 2024
Net profit 2025
10.1M NOK
+13% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
65.2 %
StrongAmong the 40% highest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
4.0×
StrongAmong the 30% highest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
11.1 %
StrongAmong the 30% highest rated companies in the industry
20212025
EBITDA — year on year
NOK millionsKey figures
Annual report 2025| Revenue | 93.5M NOK | -1% |
| EBITDA | 17.5M NOK | 0% |
| Net profit | 10.1M NOK | +13% |
| Total assets | 90.7M NOK | +13% |
| Equity | 59.1M NOK | +21% |
| Employees | 36 | — |
Company information
Legal name
SETECH AS
Org number
940919657
Legal form
Aksjeselskap
NACE code
2553 · Machining of metals
Founded
24 October 1986 · 39 years
Share capital
—
Employees
36 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Styrets leder alene. Daglig leder alene.
Contact
Address
Skålevikveien 60, 5178 Loddefjord
Phone
+47 55 50 63 50
Email
hakon@se-tech.no
Website
https://www.se-tech.no
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Financial development
In its most recent annual report (2025), Setech AS reported revenue of NOK 93.5m, 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 net profit of NOK 10.1m, and the EBITDA margin stood at 18.7%.
At the end of 2025, equity financed 65.2% of the balance sheet, and current assets covered short-term debt 4 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 93,539 | 94,837 | 91,366 | 53,346 | 51,129 |
| Staff expenses | -27,863 | -26,010 | -25,004 | -19,529 | -18,366 |
| EBITDA | 17,513 | 17,483 | 16,823 | 6,910 | 6,939 |
| Depreciation & amort. | -4,316 | -4,700 | -5,057 | -5,621 | -5,942 |
| EBIT | 13,197 | 12,784 | 11,766 | 1,289 | 997 |
| Net financials | -266 | -1,327 | -1,718 | -1,022 | -588 |
| Profit before tax | 12,931 | 11,457 | 10,048 | 267 | 409 |
| Tax | 2,859 | 2,563 | 2,237 | 88 | 112 |
| Net profit | 10,073 | 8,894 | 7,811 | 180 | 296 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 90,689 | 80,433 | 89,992 | 75,733 | 66,047 |
| Equity | 59,134 | 49,062 | 40,167 | 35,357 | 35,177 |
| Long-term debt | 15,891 | 11,693 | 16,004 | 17,251 | 21,081 |
| Short-term debt | 15,664 | 19,679 | 33,820 | 23,125 | 9,789 |
| Total debt | 31,555 | 31,372 | 49,824 | 40,376 | 30,870 |
Financial ratios
5-year trendEBITDA margin
18.7 %
20212025
Equity ratio
65.2 %
StrongAmong the 40% highest rated companies in the industry
20212025
Return on equity
17.0 %
StrongAmong the 40% highest rated companies in the industry
20212025
Net profit margin
10.8 %
StrongAmong the 30% highest rated companies in the industry
20212025
Asset turnover
1.03×
AverageAround the average of companies in the same industry
20212025
Debt / equity
0.53×
StrongAmong the 40% highest rated companies in the industry
20212025
Sector performance
28 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 marginStrong
Among the 30% 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 30% 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)Strong
Among the 40% 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 30% 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)Strong
Among the 40% 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 ratioVery strong
Among the 20% 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 ratioStrong
Among the 30% highest 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 ratioStrong
Among the 40% highest 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 equityAverage
Around the average of companies in the same 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 capitalStrong
Among the 40% 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 ratioVery strong
Among the 20% highest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioStrong
Among the 40% highest 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 ratioStrong
Among the 30% highest 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 equityStrong
Among the 40% highest rated companies in the industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityStrong
Among the 40% highest 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 30% 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 20% 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 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 turnoverAverage
Around the average of companies in the same industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverVery strong
Among the 20% highest 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 equityStrong
Among the 30% highest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtAverage
Around the average of companies in the same industry
The size of this year's increase or decrease in the company's debt.
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) | ||
VD Chief Executive Officer | Chief Executive Officer | 2024 |
Former (2)
SH Chief Executive Officer | Chief Executive Officer | 1989 – 2024 |
BH Deputy Member | Deputy Member | 2019 – 2025 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (4) | ||
VD Board of Directors | Board of Directors | 2019 |
AV Chairman | Chairman | 2019 |
HJ Board of Directors | Board of Directors | 2026 |
HK Board of Directors | Board of Directors | 2019 |
Former (1)
SH Board of Directors | Board of Directors | 2019 – 2025 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 64.83% | 64.83% | 2023 | |
| Company | 20.99% | 20.99% | 2020 | |
Unitech International Inc | Company | 14.18% | 14.18% | 2025 |
Unitech International Inc | Company | 14.18% | 14.18% | 2020 |
| Individual | 3.68% | 3.68% | 2020 |
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Related companies
Company hierarchy
Fav Gruppen As
Setech AS (this company)Board network connections
Board members of Setech AS also hold positions in 70 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Bernt Henrik Hellesøe | Deputy Member | 23 companiesMany roles |
| Haakon Jard Veidung | Board of Directors | 21 companiesMany roles |
| Arne Veidung | Chairman | 18 companiesMany roles |
| Hans Kenneth Berge | Board of Directors | 6 companiesMany roles |
| Vidar Danielsen | Chief Executive Officer | 2 companies |
Frequently asked questions
What is the Org number of Setech AS?
Setech AS is registered with Brønnøysundsregistrene under Org 940919657.
What is the revenue of Setech AS?
Setech AS reported revenue of NOK 93.5m in 2025.
How many employees does Setech AS have?
Setech AS employs 36 people as of the latest annual report.
Who is the CEO of Setech AS?
Vidar Danielsen is the CEO of Setech AS, in role since 2024.
Who is the chairman of Setech AS?
Arne Veidung chairs the board of Setech AS, in role since 2019.
Where is Setech AS headquartered?
Setech AS's registered address is Skålevikveien 60.