Deepocean Management AS
ASDissolvedOrg 987538880Karmsundgata 74, 5529 HaugesundSupport activities for petroleum and natural gas extraction· NACE 0910Est. 2004 · 21 years old511 employees
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Overview
Deepocean Management AS is a Norwegian AS based in Haugesund, operating in the Support activities for petroleum and natural gas extraction sector. Incorporated in 2004, the company has 511 employees and reported revenue of NOK 748.6m in its latest annual filing.
Revenue 2023
748.6M NOK
+24% vs 2022
EBITDA margin
1.0 %
−71% vs 2022
Net profit 2023
6.7M NOK
-67% vs 2022
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
22.7 %
WeakAmong the 40% lowest rated companies in the industry
20192023
Liquidity ratioCurrent assets ÷ Short-term debt
1.3×
AverageAround the average of companies in the same industry
20192023
Return on assets (ROA)Net profit ÷ Total assets × 100
2.0 %
AverageAround the average of companies in the same industry
20192023
EBITDA — year on year
NOK millionsKey figures
Annual report 2023| Revenue | 748.6M NOK | +24% |
| EBITDA | 7.7M NOK | -71% |
| Net profit | 6.7M NOK | -67% |
| Total assets | 331.7M NOK | +5% |
| Equity | 75.3M NOK | 0% |
| Employees | 511 | — |
Company information
Legal name
DEEPOCEAN MANAGEMENT AS
Org number
987538880
Legal form
Aksjeselskap
NACE code
Founded
25 October 2004 · 21 years
Share capital
NOK 100,000
Employees
511 (FTE)
VAT registered
No
Audit selected
No
Last report
2023-12-31
Financial year
January – December
Signatory rights
Daglig leder alene, styrets leder alene eller to aksjonærvalgte styremedlemmer i fellesskap.
Company purpose
Engineering og managementtjenester innen offshore og landbasert virksomhet.
(no translation available)
Address
Karmsundgata 74, 5529 Haugesund
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Financial development
In its most recent annual report (2023), Deepocean Management AS reported revenue of NOK 748.6m, an increase of 24% on the year before. The figures on this page draw on 5 annual filings covering 2019 to 2023. The bottom line showed a net profit of NOK 6.7m, and the EBITDA margin stood at 1%.
At the end of 2023, equity financed 22.7% of the balance sheet, and current assets covered short-term debt 1.3 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Revenue | 748,587 | 602,835 | 492,892 | 435,223 | 405,617 |
| Staff expenses | -608,996 | -467,388 | -365,337 | -331,674 | -292,225 |
| EBITDA | 7,696 | 26,115 | 29,017 | 16,877 | 12,151 |
| Depreciation & amort. | -0 | -0 | -0 | -0 | -0 |
| EBIT | 7,696 | 26,115 | 29,017 | 16,877 | 12,151 |
| Net financials | 954 | -272 | 216 | 17 | 1,563 |
| Profit before tax | 8,650 | 25,843 | 29,233 | 16,893 | 13,714 |
| Tax | 1,950 | 5,717 | 6,468 | 3,737 | 3,056 |
| Net profit | 6,700 | 20,126 | 22,765 | 13,156 | 10,657 |
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Balance sheet
NOK thousands| Item | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Total assets | 331,696 | 315,359 | 264,659 | 140,123 | 101,311 |
| Equity | 75,280 | 75,495 | 75,522 | 46,541 | 43,147 |
| Long-term debt | 0 | 0 | 0 | 0 | 0 |
| Short-term debt | 256,416 | 239,863 | 189,137 | 93,582 | 58,164 |
| Total debt | 256,416 | 239,863 | 189,137 | 93,582 | 58,164 |
Financial ratios
5-year trendEBITDA margin
1.0 %
20192023
Equity ratio
22.7 %
WeakAmong the 40% lowest rated companies in the industry
20192023
Return on equity
8.9 %
AverageAround the average of companies in the same industry
20192023
Net profit margin
0.9 %
WeakAmong the 40% lowest rated companies in the industry
20192023
Asset turnover
2.26×
Very strongAmong the 20% highest rated companies in the industry
20192023
Debt / equity
3.41×
WeakAmong the 30% 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 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 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 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)Average
Around the average of companies in the same industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Average
Around the average of companies in the same industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Average
Around the average of companies in the same 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 40% 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 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 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.
Fixed assets to long-term capitalVery strong
Among the 10% 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 ratioStrong
Among the 40% highest 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 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 ratioWeak
Among the 40% 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 equityWeak
Among the 30% 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 30% 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 debtAverage
Around the average of companies in the same industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageVery strong
Among the 20% highest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtStrong
Among the 40% highest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginAverage
Around the average of companies in the same 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.
Equity to contributed capitalVery strong
Among the 10% 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 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 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) | ||
OA Chief Executive Officer | Chief Executive Officer | 2018 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (2) | ||
FG Board of Directors | Board of Directors | 2019 |
ØM Chairman | Chairman | 2019 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 100% | 100% | 2020 |
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Company hierarchy
Deepocean As
Deepocean Management AS Board network connections
Board members of Deepocean Management AS also hold positions in 45 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Øyvind Mikaelsen | Chairman | 21 companiesMany roles |
| Frode Garlid | Board of Directors | 18 companiesMany roles |
| Olaf Alexander Hansen | Chief Executive Officer | 6 companiesMany roles |
Frequently asked questions
What is the Org number of Deepocean Management AS?
Deepocean Management AS is registered with Brønnøysundsregistrene under Org 987538880.
What is the revenue of Deepocean Management AS?
Deepocean Management AS reported revenue of NOK 748.6m in 2023.
How many employees does Deepocean Management AS have?
Deepocean Management AS employs 511 people as of the latest annual report.
Who is the CEO of Deepocean Management AS?
Olaf Alexander Hansen is the CEO of Deepocean Management AS, in role since 2018.
Who is the chairman of Deepocean Management AS?
Øyvind Mikaelsen chairs the board of Deepocean Management AS, in role since 2019.
Where is Deepocean Management AS headquartered?
Deepocean Management AS's registered address is Karmsundgata 74.