Ocean Projects AS

ASDissolved

Org 989336207Damveien 1B, 4816 KolbjørnsvikEngineering activities and related technical consultancy· NACE 7112Est. 2006 · 20 years old0 employees

Overview

Ocean Projects AS is a Norwegian AS based in Kolbjørnsvik, operating in the Engineering activities and related technical consultancy sector. Incorporated in 2006, the company has 0 employees and reported revenue of NOK 3.5m in its latest annual filing.

Revenue 2023

3.5M NOK

+224% vs 2022

EBITDA margin

10.3 %

+15% vs 2022

Net profit 2023

0.4M NOK

+242% vs 2022

Key ratios

See full ratios →

41.6 %

Average

Around the average of companies in the same industry

20192023

1.5×

Average

Around the average of companies in the same industry

20192023

38.3 %

Very strong

Among the 20% highest rated companies in the industry

20192023

EBITDA — year on year

NOK thousands

Key figures

Annual report 2023

Revenue	3.5M NOK	+224%
EBITDA	0.4M NOK	+15%
Net profit	0.4M NOK	+242%
Total assets	0.9M NOK	+10%
Equity	0.4M NOK	-5%
Employees	0	—

Contact

Address

Damveien 1B, 4816 Kolbjørnsvik

Phone

+47 45 02 69 66

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Financial development

In its most recent annual report (2023), Ocean Projects AS reported revenue of NOK 3.5m, an increase of 224% 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 350.0k, and the EBITDA margin stood at 10.3%.

At the end of 2023, equity financed 41.6% of the balance sheet, and current assets covered short-term debt 1.5 times.

Financials

Revenue

NOK thousands

EBITDA

NOK thousands

Income statement

NOK thousands

Item	2023	2022	2021	2020	2019
Revenue	3,476	1,072	0	1,020	0
Staff expenses	-2,372	-689	-0	-447	-0
EBITDA	359	311	-47	376	-24
Depreciation & amort.	-0	-0	-0	-0	-0
EBIT	359	311	-47	376	-24
Net financials	1	-558	78	96	-438
Profit before tax	360	-247	31	472	-462
Tax	10	-0	-0	-0	-0
Net profit	350	-247	31	472	-462

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Balance sheet

NOK thousands

Item	2023	2022	2021	2020	2019
Total assets	913	829	690	1,141	1,271
Equity	380	400	647	1,016	1,268
Long-term debt	0	0	0	0	0
Short-term debt	533	429	44	126	3
Total debt	533	429	44	126	3

Financial ratios

5-year trend

EBITDA margin

10.3 %

20192023

Equity ratio

41.6 %

Average

Around the average of companies in the same industry

20192023

Return on equity

92.1 %

Very strong

Among the 20% highest rated companies in the industry

20192023

Net profit margin

10.1 %

Average

Around the average of companies in the same industry

20192023

Asset turnover

3.81×

Very strong

Among the 10% highest rated companies in the industry

20192023

Debt / equity

1.40×

Weak

Among the 40% lowest rated companies in the industry

20192023

Sector performance

27 of 28 ratios graded

28 financial ratios from the latest filing, each graded against companies in the same industry.

Profitability

Gross marginWeak

Among the 30% 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 20% 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)Very strong

Among the 20% 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 20% 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)Very strong

Among the 20% 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 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 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 equityWeak

Among the 30% 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 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 ratioAverage

Around the average of companies in the same industry

Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.

Debt ratioAverage

Around the average of companies in the same 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 40% 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 40% 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 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 debtStrong

Among the 30% 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 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 marginVery strong

Among the 20% 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 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 equityWeak

Among the 40% 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 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

Annual report 2023
Filed via Brønnøysundsregistrene · Period 2023-01-01 – 2023-12-31
View PDF
Annual report 2022
Filed via Brønnøysundsregistrene · Period 2022-01-01 – 2022-12-31
View PDF
Annual report 2021
Filed via Brønnøysundsregistrene · Period 2021-01-01 – 2021-12-31
View PDF
Annual report 2020
Filed via Brønnøysundsregistrene · Period 2020-01-01 – 2020-12-31
View PDF
Annual report 2019
Filed via Brønnøysundsregistrene · Period 2019-01-01 – 2019-12-31
View PDF

People & ownership

Management

Actively employed in the business

Name	Role	Member since

Former (1)


HA Harald André Wergeland Chief Executive Officer	Chief Executive Officer	2020 – 2024

Board of directors

Non-executive oversight

Name	Role	Member since
Current (1)
HA Harald André Wergeland Chairman	Chairman	2021

Shareholders

Active legal owners

No shareholder data available.

One in three Danish companies experiences fraud

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Related companies

Company hierarchy

No registered parent or subsidiaries

Board network connections

Board members of Ocean Projects AS also hold positions in 1 other company.

Person	Role here	Other companies
Harald André Wergeland	Chief Executive Officer	1 company

Frequently asked questions

What is the Org number of Ocean Projects AS?

Ocean Projects AS is registered with Brønnøysundsregistrene under Org 989336207.

What is the revenue of Ocean Projects AS?

Ocean Projects AS reported revenue of NOK 3.5m in 2023.

Who is the chairman of Ocean Projects AS?

Harald André Wergeland chairs the board of Ocean Projects AS, in role since 2021.

Where is Ocean Projects AS headquartered?

Ocean Projects AS's registered address is Damveien 1B.