Telemark Group AS
ASActiveOrg 999508049Klostergata 30, 3732 SkienTemporary employment agency activities and other human resource provisions· NACE 7820Est. 2012 · 13 years old1-4 employeeshttps://www.telemarkgroup.no
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Overview
Telemark Group AS is a Norwegian AS based in Skien, operating in the Temporary employment agency activities and other human resource provisions sector. Incorporated in 2012, the company reported revenue of NOK 1.6m in its latest annual filing.
Revenue 2025
1.6M NOK
−46% vs 2024
EBITDA margin
−221.0 %
−90% vs 2024
Net profit 2025
22.7M NOK
+533% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
96.9 %
Very strongAmong the 20% highest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
6.3×
Very strongAmong the 20% highest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
47.5 %
Very strongAmong the 10% highest rated companies in the industry
20212025
EBITDA — year on year
NOK thousandsKey figures
Annual report 2025| Revenue | 1.6M NOK | -46% |
| EBITDA | -3.6M NOK | -90% |
| Net profit | 22.7M NOK | +533% |
| Total assets | 47.8M NOK | +3% |
| Equity | 46.3M NOK | +2% |
| Employees | — | — |
Company information
Legal name
TELEMARK GROUP AS
Org number
999508049
Legal form
Aksjeselskap
Founded
30 November 2012 · 13 years
Share capital
NOK 1,278,320
Employees
1-4
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Daglig leder og styrets leder i fellesskap.
Company purpose
Investering i, aktiv forvaltning av og salg av verdipapirer og selskaper. Selskapet kan også tilby rådgivningstjenester.
(no translation available)
Contact
Address
Klostergata 30, 3732 Skien
Phone
+47 90 64 65 05
Email
post@telemarkgroup.no
Website
https://www.telemarkgroup.no
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Financial development
In its most recent annual report (2025), Telemark Group AS reported revenue of NOK 1.6m, a decrease of 46% 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 22.7m, and the EBITDA margin stood at -221%.
At the end of 2025, equity financed 96.9% of the balance sheet, and current assets covered short-term debt 6.3 times.
Financials
Revenue
NOK thousandsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 1,645 | 3,042 | 2,617 | 2,717 | 2,436 |
| Staff expenses | -3,646 | -3,413 | -3,750 | -2,925 | -2,412 |
| EBITDA | -3,635 | -1,914 | -2,248 | -1,752 | -1,549 |
| Depreciation & amort. | -0 | -0 | -0 | -5 | -84 |
| EBIT | -3,635 | -1,914 | -2,248 | -1,757 | -1,633 |
| Net financials | 26,359 | 5,502 | 806 | 60,482 | 7,233 |
| Profit before tax | 22,724 | 3,588 | -1,442 | 58,724 | 5,600 |
| Tax | -0 | -0 | -0 | -0 | -0 |
| Net profit | 22,724 | 3,588 | -1,442 | 58,724 | 5,600 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 47,822 | 46,495 | 46,244 | 64,279 | 33,371 |
| Equity | 46,323 | 45,203 | 44,619 | 46,061 | 32,247 |
| Long-term debt | 515 | 500 | 500 | 500 | 500 |
| Short-term debt | 984 | 792 | 1,125 | 17,719 | 624 |
| Total debt | 1,498 | 1,292 | 1,625 | 18,219 | 1,124 |
Financial ratios
5-year trendEBITDA margin
-221.0 %
20212025
Equity ratio
96.9 %
Very strongAmong the 20% highest rated companies in the industry
20212025
Return on equity
49.1 %
StrongAmong the 30% highest rated companies in the industry
20212025
Net profit margin
>999 %
Very strongAmong the 10% highest rated companies in the industry
20212025
Asset turnover
0.03×
WeakAmong the 30% lowest rated companies in the industry
20212025
Debt / equity
0.03×
Very strongAmong the 10% 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 marginStrong
Among the 40% highest 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 marginVery weak
Among the 10% 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 strong
Among the 10% 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 10% 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)Weak
Among the 30% 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 ratioWeak
Among the 30% lowest 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 ratioVery strong
Among the 20% 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 ratioVery strong
Among the 20% 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 ratioVery strong
Among the 20% 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 equityVery strong
Among the 10% 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 ratioVery weak
Among the 20% lowest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioVery strong
Among the 20% 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 ratioVery strong
Among the 10% 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 equityVery strong
Among the 10% 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 equityVery strong
Among the 20% highest 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 strong
Among the 10% highest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtVery weak
Among the 10% lowest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageVery weak
Among the 10% lowest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtAverage
Around the average of companies in the same industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginVery strong
Among the 10% 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 turnoverWeak
Among the 30% lowest 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 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 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 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 (1) | ||
BJ Chief Executive Officer | Chief Executive Officer | 2013 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (6) | ||
SF Board of Directors | Board of Directors | 2025 |
ET Board of Directors | Board of Directors | 2020 |
BM Chairman | Chairman | 2020 |
AH Board of Directors | Board of Directors | 2020 |
BJ Board of Directors | Board of Directors | 2020 |
TO Board of Directors | Board of Directors | 2020 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 23.96% | 23.96% | 2020 | |
| Company | 23.96% | 23.96% | 2020 | |
| Company | 16.49% | 16.49% | 2020 | |
| Company | 9.89% | 9.89% | 2020 | |
| Company | 9.37% | 9.37% | 2020 | |
| Individual | 6.61% | 6.61% | 2020 | |
| Company | 6.61% | 6.61% | 2020 | |
| Company | 3.11% | 3.11% | 2020 |
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Company hierarchy
Crumena As16.4938%Muleknausen As6.6107%Hauglid Eiendom As23.9615%For Future Invest As23.9615%Ernst Invest As9.3685%Liane Invest As9.8886%Høier Kompetanse As3.11%
Telemark Group AS (this company)Kelda Dynamics As20% ownedBoard network connections
Board members of Telemark Group AS also hold positions in 138 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Bjarne Moursund | Chairman | 43 companiesMany roles |
| Sverre Finn Hurum | Board of Directors | 27 companiesMany roles |
| Arnt Helge Hauglid | Board of Directors | 27 companiesMany roles |
| Ernst Terje Jakobsen | Board of Directors | 15 companiesMany roles |
| Thor Oscar Bolstad | Board of Directors | 15 companiesMany roles |
| Bjørnar Jakobsen | Chief Executive Officer | 11 companiesMany roles |
Frequently asked questions
What is the Org number of Telemark Group AS?
Telemark Group AS is registered with Brønnøysundsregistrene under Org 999508049.
What is the revenue of Telemark Group AS?
Telemark Group AS reported revenue of NOK 1.6m in 2025.
Who is the CEO of Telemark Group AS?
Bjørnar Jakobsen is the CEO of Telemark Group AS, in role since 2013.
Who is the chairman of Telemark Group AS?
Bjarne Moursund chairs the board of Telemark Group AS, in role since 2020.
Where is Telemark Group AS headquartered?
Telemark Group AS's registered address is Klostergata 30.