Norse Maritime A/S — Credit Rating and Financial Key Figures
Credit rating
Company information
About Norse Maritime A/S
Norse Maritime A/S (CVR number: 42191930) is a company from KØBENHAVN. The company reported a net sales of 239.7 mUSD in 2024, demonstrating a growth of 26.1 % compared to the previous year. The operating profit percentage was at 7 % (EBIT: 16.7 mUSD), while net earnings were 18.4 mUSD. The profitability of the company measured by Return on Assets (ROA) was 27.6 %, which can be considered excellent and Return on Equity (ROE) was 34.2 %, which can be considered excellent. The equity ratio, a key indicator for solidity, stood at 80.8 %, a level that can be considered to be very good, which means that the majority of assets are financed by equity. Norse Maritime A/S's liquidity measured by quick ratio was 3.9 which is at a very high level. Thus, the company demonstrates exceptional financial stability, possessing a significant surplus of liquid assets over its short-term liabilities.
Financial information
See financialsNet sales (mUSD)
EBIT (mUSD)
Profitability
Solidity
Key figures (mUSD)
See financials2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Volume | ||||
| Net sales | 58.20 | 183.51 | 190.03 | 239.67 |
| Gross profit | 58.20 | 183.51 | 190.03 | 239.67 |
| EBIT | 1.64 | 23.18 | 13.11 | 16.71 |
| Net earnings | 1.65 | 23.70 | 14.64 | 18.45 |
| Shareholders equity total | 6.15 | 29.85 | 44.77 | 63.22 |
| Balance sheet total (assets) | 13.08 | 48.91 | 59.77 | 83.36 |
| Net debt | -9.25 | -35.47 | -38.74 | -39.67 |
| Profitability | ||||
| EBIT-% | 2.8 % | 12.6 % | 6.9 % | 7.0 % |
| ROA | 13.2 % | 78.1 % | 29.3 % | 27.6 % |
| ROE | 26.9 % | 131.6 % | 39.2 % | 34.2 % |
| ROI | 24.9 % | 126.2 % | 40.1 % | 32.7 % |
| Economic value added (EVA) | 1.61 | 22.71 | 10.79 | 13.55 |
| Solvency | ||||
| Equity ratio | 51.7 % | 74.6 % | 81.1 % | 80.8 % |
| Gearing | 12.7 % | 5.3 % | 7.3 % | 15.1 % |
| Relative net indebtedness % | -5.3 % | -9.8 % | -14.2 % | -12.1 % |
| Liquidity | ||||
| Quick ratio | 2.0 | 4.5 | 4.6 | 3.9 |
| Current ratio | 1.9 | 2.6 | 4.0 | 3.5 |
| Cash and cash equivalents | 10.03 | 37.04 | 42.00 | 49.22 |
| Capital use efficiency | ||||
| Trade debtors turnover (days) | 8.7 | 14.2 | 12.4 | 13.4 |
| Net working capital % | 10.6 % | 16.3 % | 23.6 % | 20.9 % |
| Credit risk | ||||
| Credit rating | BBB | BBB | BBB | A |
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