Heimdal Forvaltning AS
ASActiveOrg 989774697Knud Holms Gate 8, 4005 StavangerFund management activities· NACE 6630Est. 2006 · 20 years old19 employeeshttps://www.heimdalfond.no
Loading company…
Overview
Heimdal Forvaltning AS is a Norwegian AS based in Stavanger, operating in the Fund management activities sector. Incorporated in 2006, the company has 19 employees and reported revenue of NOK 94.4m in its latest annual filing.
Revenue 2025
94.4M NOK
+52% vs 2024
EBITDA margin
28.1 %
+66% vs 2024
Net profit 2025
20M NOK
-18% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
58.9 %
StrongAmong the 40% highest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
2.3×
StrongAmong the 40% highest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
31.7 %
Very strongAmong the 20% highest rated companies in the industry
20212025
EBITDA — year on year
NOK millionsKey figures
Annual report 2025| Revenue | 94.4M NOK | +52% |
| EBITDA | 26.5M NOK | +66% |
| Net profit | 20M NOK | -18% |
| Total assets | 63.2M NOK | +36% |
| Equity | 37.2M NOK | +12% |
| Employees | 19 | — |
Company information
Legal name
HEIMDAL FORVALTNING AS
Org number
989774697
Legal form
Aksjeselskap
NACE code
6630 · Fund management activities
Founded
15 March 2006 · 20 years
Share capital
NOK 348,485
Employees
19 (FTE)
VAT registered
No
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
To styremedlemmer i fellesskap. Daglig leder og styrets leder i fellesskap.
Company purpose
Selskapet skal forvalte verdipapirfond og alternative investeringsfond, samt drive administrasjon og markedsføring av fond selskapet forvalter, samt annen virksomhet som er naturlig tilknyttet det ovennevnte.
(no translation available)
Contact
Address
Knud Holms Gate 8, 4005 Stavanger
Phone
+47 51 11 55 80
Email
info@heimdalfondene.no
Website
https://www.heimdalfond.no
Risika for professionals
Risika provides regulated workflow tools for finance, procurement and compliance teams that need monitoring, alerts and an API.
Financial development
In its most recent annual report (2025), Heimdal Forvaltning AS reported revenue of NOK 94.4m, an increase of 52% 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 20.0m, and the EBITDA margin stood at 28.1%.
At the end of 2025, equity financed 58.9% of the balance sheet, and current assets covered short-term debt 2.3 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 94,385 | 61,905 | 27,406 | 17,506 | 12,993 |
| Staff expenses | -40,924 | -26,957 | -20,132 | -11,833 | -8,388 |
| EBITDA | 26,496 | 15,949 | -5,447 | -2,663 | -1,379 |
| Depreciation & amort. | -558 | -67 | -7 | -0 | -0 |
| EBIT | 25,938 | 15,882 | -5,453 | -2,663 | -1,379 |
| Net financials | 1,072 | 746 | 43 | -19 | -26 |
| Profit before tax | 27,010 | 16,628 | -5,410 | -2,681 | -1,405 |
| Tax | 6,960 | -0 | -0 | -0 | -0 |
| Net profit | 20,050 | 24,561 | -5,410 | -2,681 | -1,405 |
Get a credit rating – not just the numbers
Financial statements show the past. Risika gives you a score and a recommended credit limit, so you know what the numbers mean for your risk.
Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 63,186 | 46,300 | 15,109 | 17,106 | 8,559 |
| Equity | 37,246 | 33,196 | 8,635 | 14,045 | 6,726 |
| Long-term debt | 0 | 2,446 | 1,117 | 0 | 0 |
| Short-term debt | 25,940 | 10,658 | 5,358 | 3,061 | 1,833 |
| Total debt | 25,940 | 13,104 | 6,475 | 3,061 | 1,833 |
Financial ratios
5-year trendEBITDA margin
28.1 %
20212025
Equity ratio
58.9 %
StrongAmong the 40% highest rated companies in the industry
20212025
Return on equity
53.8 %
StrongAmong the 30% highest rated companies in the industry
20212025
Net profit margin
21.2 %
StrongAmong the 40% highest rated companies in the industry
20212025
Asset turnover
1.49×
StrongAmong the 30% highest rated companies in the industry
20212025
Debt / equity
0.70×
StrongAmong the 40% highest rated companies in the industry
20212025
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 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 40% 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 30% 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)Strong
Among the 30% 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 30% 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 40% 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 ratioWeak
Among the 40% 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 equityWeak
Among the 40% 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 ratioStrong
Among the 30% 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 40% 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 equityAverage
Around the average of companies in the same industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtVery strong
Among the 20% 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 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 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 turnoverStrong
Among the 30% 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 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 40% highest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtVery weak
Among the 20% 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 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 (4) | ||
MR Deputy Member | Deputy Member | 2022 |
OP Deputy Member | Deputy Member | 2021 |
GT Chief Executive Officer | Chief Executive Officer | 2026 |
AS Deputy Member | Deputy Member | 2022 |
Former (6)
OM Deputy Member | Deputy Member | 2021 – 2021 |
SS Deputy Member | Deputy Member | 2021 – 2022 |
EH Chief Executive Officer | Chief Executive Officer | 2023 – 2024 |
PM Chief Executive Officer | Chief Executive Officer | 2016 – 2023 |
JV Deputy Member | Deputy Member | 2021 – 2022 |
HK Chief Executive Officer | Chief Executive Officer | 2024 – 2026 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (6) | ||
RR Board of Directors | Board of Directors | 2022 |
CK Board of Directors | Board of Directors | 2024 |
SS Board of Directors | Board of Directors | 2022 |
KH Board of Directors | Board of Directors | 2025 |
TN Board of Directors | Board of Directors | 2021 |
CH Chairman | Chairman | 2025 |
Former (8)
OS Board of Directors | Board of Directors | 2021 – 2025 |
TT Chairman | Chairman | 2021 – 2025 |
EW Board of Directors | Board of Directors | 2021 – 2021 |
HH Board of Directors | Board of Directors | 2021 – 2021 |
SE Board of Directors | Board of Directors | 2021 – 2022 |
SM Board of Directors | Board of Directors | 2021 – 2022 |
HK Board of Directors | Board of Directors | 2021 – 2023 |
KR Chairman | Chairman | 2021 – 2021 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 78.4% | 78.4% | 2024 | |
| Company | 7.57% | 7.57% | 2024 | |
| Company | 2.23% | 2.23% | 2024 | |
| Company | 2% | 2% | 2024 | |
| Individual | 1.95% | 1.95% | 2023 | |
| Individual | 1.75% | 1.75% | 2023 | |
| Individual | 1.75% | 1.75% | 2023 | |
| Company | 1.65% | 1.65% | 2024 | |
| Company | 4.02% | 4.02% | 2021 | |
| Company | 1.82% | 1.82% | 2021 | |
| Company | 3.2% | 3.2% | 2021 | |
| Company | 3.59% | 3.59% | 2021 | |
| Company | 19.6% | 19.6% | 2021 | |
| Individual | 2.37% | 2.37% | 2021 | |
| Company | 15.45% | 15.45% | 2021 | |
| Individual | 1.23% | 1.23% | 2021 | |
| Company | 19.87% | 19.87% | 2021 | |
| Company | 11.82% | 11.82% | 2021 | |
| Company | 14.46% | 14.46% | 2021 | |
| Company | 5.29% | 5.29% | 2020 |
One in three Danish companies experiences fraud
Sound familiar? See how to strengthen your defences and catch suspicious changes in ownership and management in time.
Related companies
Company hierarchy
Wertvoll As7.5665%Gjallar Invest As78.4017%Franks Tank As2.23%Sefland Invest As1.65%Current As4.02%Vic As1.82%Viss As3.59%Flytevesten As19.6%Lyngneset Invest As15.45%Etne Sparebank19.87%V-Finans As11.82%Pml Holding As5.29%
Heimdal Forvaltning AS (this company)Board network connections
Board members of Heimdal Forvaltning AS also hold positions in 200 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Sten Stenersen | Deputy Member | 39 companiesMany roles |
| Torgeir Terjesen | Chairman | 18 companiesMany roles |
| Eirik Waldeland Henningsen | Board of Directors | 16 companiesMany roles |
| Henriette Kristine Hoff Sandvaag | Chief Executive Officer | 14 companiesMany roles |
| Christian Holm Nilsen | Chairman | 14 companiesMany roles |
| Rune Ramsvik | Board of Directors | 13 companiesMany roles |
| Odd Petter Birkeland | Deputy Member | 11 companiesMany roles |
| Arnt Ståle Eilertsen | Deputy Member | 11 companiesMany roles |
| Harald Haukås | Board of Directors | 11 companiesMany roles |
| Guro Tørneng Wik | Chief Executive Officer | 8 companiesMany roles |
| Marius Richter | Deputy Member | 7 companiesMany roles |
| Per Magne Ludvigsen | Chief Executive Officer | 6 companiesMany roles |
| Stig Magnar Lura | Board of Directors | 6 companiesMany roles |
| Knut Harald Nilsson | Board of Directors | 5 companies |
| Sveinung Eskeland | Board of Directors | 5 companies |
| Karl Ronny Klungtvedt | Chairman | 4 companies |
| Jostein Vestvik | Deputy Member | 3 companies |
| Thomas Norheim | Board of Directors | 3 companies |
| Olav Mellemstrand | Deputy Member | 2 companies |
| Charlotte Knutsen | Board of Directors | 2 companies |
| Erik Hagerup | Chief Executive Officer | 1 company |
| Ola Sjöstrand | Board of Directors | 1 company |
Frequently asked questions
What is the Org number of Heimdal Forvaltning AS?
Heimdal Forvaltning AS is registered with Brønnøysundsregistrene under Org 989774697.
What is the revenue of Heimdal Forvaltning AS?
Heimdal Forvaltning AS reported revenue of NOK 94.4m in 2025.
How many employees does Heimdal Forvaltning AS have?
Heimdal Forvaltning AS employs 19 people as of the latest annual report.
Who is the CEO of Heimdal Forvaltning AS?
Guro Tørneng Wik is the CEO of Heimdal Forvaltning AS, in role since 2026.
Who is the chairman of Heimdal Forvaltning AS?
Christian Holm Nilsen chairs the board of Heimdal Forvaltning AS, in role since 2025.
Where is Heimdal Forvaltning AS headquartered?
Heimdal Forvaltning AS's registered address is Knud Holms Gate 8.