Function AS

ASDissolved

Org 992831588Fageråsveien 2, 5067 BergenEngineering activities and related technical consultancy· NACE 7112Est. 2008 · 18 years old3 employees

Overview

Function AS is a Norwegian AS based in Bergen, operating in the Engineering activities and related technical consultancy sector. Incorporated in 2008, the company has 3 employees and reported revenue of NOK 7.5m in its latest annual filing.

Revenue 2022

7.5M NOK

+17% vs 2021

EBITDA margin

32.6 %

+411% vs 2021

Net profit 2022

4M NOK

-45% vs 2021

Key ratios

See full ratios →

68.4 %

Strong

Among the 40% highest rated companies in the industry

20182022

2.1×

Average

Around the average of companies in the same industry

20182022

43.0 %

Very strong

Among the 20% highest rated companies in the industry

20182022

EBITDA — year on year

NOK thousands

Key figures

Annual report 2022

Revenue	7.5M NOK	+17%
EBITDA	2.4M NOK	+411%
Net profit	4M NOK	-45%
Total assets	9.3M NOK	-20%
Equity	6.3M NOK	-14%
Employees	3	—

Financial development

In its most recent annual report (2022), Function AS reported revenue of NOK 7.5m, an increase of 17% on the year before. The figures on this page draw on 5 annual filings covering 2018 to 2022. The bottom line showed a net profit of NOK 4.0m, and the EBITDA margin stood at 32.6%.

At the end of 2022, equity financed 68.4% of the balance sheet, and current assets covered short-term debt 2.1 times.

Financials

Revenue

NOK thousands

EBITDA

NOK thousands

Income statement

NOK thousands

Item	2022	2021	2020	2019	2018
Revenue	7,490	6,411	5,731	4,877	4,191
Staff expenses	-3,530	-3,365	-2,975	-2,630	-2,349
EBITDA	2,440	478	-848	341	411
Depreciation & amort.	-130	-69	-36	-25	-0
EBIT	2,310	409	-885	316	410
Net financials	1,875	6,979	973	3,007	2,140
Profit before tax	4,184	7,388	88	3,323	2,551
Tax	194	144	14	90	12
Net profit	3,990	7,244	74	3,233	2,539

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Balance sheet

NOK thousands

Item	2022	2021	2020	2019	2018
Total assets	9,274	11,555	3,968	6,893	3,567
Equity	6,346	7,355	2,212	2,638	2,175
Long-term debt	342	376	0	26	12
Short-term debt	2,586	3,824	1,756	4,228	1,380
Total debt	2,928	4,200	1,756	4,255	1,392

Financial ratios

5-year trend

EBITDA margin

32.6 %

20182022

Equity ratio

68.4 %

Strong

Among the 40% highest rated companies in the industry

20182022

Return on equity

62.9 %

Strong

Among the 30% highest rated companies in the industry

20182022

Net profit margin

53.3 %

Very strong

Among the 20% highest rated companies in the industry

20182022

Asset turnover

0.81×

Average

Around the average of companies in the same industry

20182022

Debt / equity

0.46×

Average

Around the average of companies in the same industry

20182022

Sector performance

27 of 28 ratios graded

28 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 marginVery strong

Among the 20% 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)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 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 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 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 equityStrong

Among the 30% highest 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 capitalWeak

Among the 40% lowest 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 ratioWeak

Among the 30% lowest 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 equityAverage

Around the average of companies in the same 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 coverageStrong

Among the 40% 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 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 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 turnoverAverage

Around the average of companies in the same 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 equityWeak

Among the 30% lowest rated companies in the industry

The size of this year's increase or decrease in the company's equity.

One-year change in debtStrong

Among the 30% highest 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 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
Annual report 2018
Filed via Brønnøysundsregistrene · Period 2018-01-01 – 2018-12-31
View PDF

People & ownership

Management

Actively employed in the business

Name	Role	Member since
Current (2)
FG Frode Gandrud Contact Person	Contact Person	2008
KB Knut Bjarne Gandrud Deputy Member	Deputy Member	2008

Board of directors

Non-executive oversight

Name	Role	Member since
Current (1)
FG Frode Gandrud Chairman	Chairman	2008

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 Function AS also hold positions in 7 other companies.

Person	Role here	Other companies
Frode Gandrud	Contact Person	7 companiesMany roles

Frequently asked questions

What is the Org number of Function AS?

Function AS is registered with Brønnøysundsregistrene under Org 992831588.

What is the revenue of Function AS?

Function AS reported revenue of NOK 7.5m in 2022.

How many employees does Function AS have?

Function AS employs 3 people as of the latest annual report.

Who is the chairman of Function AS?

Frode Gandrud chairs the board of Function AS.

Where is Function AS headquartered?

Function AS's registered address is Fageråsveien 2.