Watchcom Security Group AS
ASDissolvedOrg 987020881Langkaia 1, 0150 OsloKonsulentvirksomhet tilknyttet informasjonsteknologi· NACE 62020Est. 2004 · 22 years old19 employeeshttps://www.combitech.no
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Overview
Watchcom Security Group AS is a Norwegian AS based in Oslo, operating in the Konsulentvirksomhet tilknyttet informasjonsteknologi sector. Incorporated in 2004, the company has 19 employees and reported revenue of NOK 49.6m in its latest annual filing.
Revenue 2023
49.6M NOK
−10% vs 2022
EBITDA margin
−37.2 %
−202% vs 2022
Net profit 2023
-19.3M NOK
-195% vs 2022
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
10.4 %
WeakAmong the 30% lowest rated companies in the industry
20192023
Liquidity ratioCurrent assets ÷ Short-term debt
1.1×
WeakAmong the 40% lowest rated companies in the industry
20192023
Return on assets (ROA)Net profit ÷ Total assets × 100
-121.4 %
Very weakAmong the 10% lowest rated companies in the industry
20192023
EBITDA — year on year
NOK millionsKey figures
Annual report 2023| Revenue | 49.6M NOK | -10% |
| EBITDA | -18.4M NOK | -202% |
| Net profit | -19.3M NOK | -195% |
| Total assets | 15.9M NOK | +7% |
| Equity | 1.7M NOK | +70% |
| Employees | 19 | — |
Company information
Legal name
WATCHCOM SECURITY GROUP AS
Org number
987020881
Legal form
Aksjeselskap
NACE code
Founded
23 June 2004 · 22 years
Share capital
NOK 248,895
Employees
19 (FTE)
VAT registered
No
Audit selected
No
Last report
2023-12-31
Financial year
January – December
Signatory rights
Styrets leder alene.
Company purpose
Kjøp, salg og tjenester innen datasikkerhet, kursvirksomhet, ved aksjeeie eller på annet vis gjøre seg interessert i andre selskap eller fast eiendom, samt enhver virksomhet forbundet med det ovennevnte.
(no translation available)
Contact
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Financial development
In its most recent annual report (2023), Watchcom Security Group AS reported revenue of NOK 49.6m, a decrease of 10% on the year before. The figures on this page draw on 5 annual filings covering 2019 to 2023. The bottom line showed a net loss of NOK 19.3m, and the EBITDA margin stood at -37.2%.
At the end of 2023, equity financed 10.4% of the balance sheet, and current assets covered short-term debt 1.1 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Revenue | 49,633 | 55,059 | 51,020 | 32,285 | 37,620 |
| Staff expenses | -42,433 | -34,527 | -32,114 | -25,619 | -22,032 |
| EBITDA | -18,445 | -6,111 | 338 | -2,510 | 418 |
| Depreciation & amort. | -445 | -357 | -303 | -3,218 | -217 |
| EBIT | -18,890 | -6,468 | 36 | -5,728 | 201 |
| Net financials | -426 | -89 | -3 | -23 | -106 |
| Profit before tax | -19,316 | -6,558 | 33 | -5,751 | 95 |
| Tax | -0 | -0 | -0 | -0 | -0 |
| Net profit | -19,316 | -6,558 | 33 | -5,751 | 95 |
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Balance sheet
NOK thousands| Item | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Total assets | 15,917 | 14,850 | 14,846 | 11,590 | 12,688 |
| Equity | 1,660 | 976 | 533 | 501 | 751 |
| Long-term debt | 0 | 0 | 0 | 0 | 0 |
| Short-term debt | 14,257 | 13,875 | 14,312 | 11,090 | 11,936 |
| Total debt | 14,257 | 13,875 | 14,312 | 11,090 | 11,936 |
Financial ratios
5-year trendEBITDA margin
-37.2 %
20192023
Equity ratio
10.4 %
WeakAmong the 30% lowest rated companies in the industry
20192023
Return on equity
<−999 %
Very weakAmong the 10% lowest rated companies in the industry
20192023
Net profit margin
-38.9 %
Very weakAmong the 20% lowest rated companies in the industry
20192023
Asset turnover
3.12×
Very strongAmong the 10% highest rated companies in the industry
20192023
Debt / equity
8.59×
Very weakAmong the 10% lowest rated companies in the industry
20192023
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 marginWeak
Among the 30% 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 marginVery weak
Among the 20% 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 10% 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)Very weak
Among the 10% 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 10% 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)Very weak
Among the 10% 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 40% 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 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 debtVery weak
Among the 10% lowest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtVery weak
Among the 20% 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 30% lowest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginVery weak
Among the 10% 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 10% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Equity to contributed capitalStrong
Among the 40% 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 debtAverage
Around the average of companies in the same 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
- 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
- Annual report 2020Filed via Brønnøysundsregistrene · Period 2020-01-01 – 2020-12-31
- Annual report 2019Filed via Brønnøysundsregistrene · Period 2019-01-01 – 2019-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
AT Chief Executive Officer | Chief Executive Officer | 2023 |
Former (2)
GM Chief Executive Officer | Chief Executive Officer | 2023 – 2023 |
AR Chief Executive Officer | Chief Executive Officer | 2017 – 2023 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (3) | ||
DA Chairman | Chairman | 2024 |
CP Board of Directors | Board of Directors | 2024 |
GB Board of Directors | Board of Directors | 2024 |
Former (7)
AC Board of Directors | Board of Directors | 2018 – 2023 |
JP Board of Directors | Board of Directors | 2023 – 2024 |
AR Board of Directors | Board of Directors | 2018 – 2023 |
JE Board of Directors | Board of Directors | 2018 – 2023 |
HA Board of Directors | Board of Directors | 2018 – 2023 |
PK Chairman | Chairman | 2018 – 2023 |
JS Chairman | Chairman | 2023 – 2024 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 100% | 100% | 2024 | |
Comitech Ab | Company | 100% | 100% | 2020 |
Combitech Ab | Company | 100% | 100% | 2023 |
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Company hierarchy
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Watchcom Security Group AS Board network connections
Board members of Watchcom Security Group AS also hold positions in 43 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Georg Bock | Board of Directors | 26 companiesMany roles |
| Dan Andreas Ouchterlony | Chairman | 8 companiesMany roles |
| Anette Roll Richardsen | Chief Executive Officer | 5 companies |
| Carl Peter Severin | Board of Directors | 4 companies |
Frequently asked questions
What is the Org number of Watchcom Security Group AS?
Watchcom Security Group AS is registered with Brønnøysundsregistrene under Org 987020881.
What is the revenue of Watchcom Security Group AS?
Watchcom Security Group AS reported revenue of NOK 49.6m in 2023.
How many employees does Watchcom Security Group AS have?
Watchcom Security Group AS employs 19 people as of the latest annual report.
Who is the CEO of Watchcom Security Group AS?
Anders Thulin Røkke is the CEO of Watchcom Security Group AS, in role since 2023.
Who is the chairman of Watchcom Security Group AS?
Dan Andreas Ouchterlony chairs the board of Watchcom Security Group AS, in role since 2024.
Where is Watchcom Security Group AS headquartered?
Watchcom Security Group AS's registered address is Langkaia 1.