Progress for Norwegian companies despite oil bust

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2015 accounts from Norwegian corporations show a positive trend despite the downturn in the oil sector.


The newspaper Dagens Næringsliv shows that the section of the accounts of all the 113,000 Norwegian limited liability companies with a turnover exceeding one million kroner had a higher profit margin and better solvency.
“We did not see any results of the oil bust in 2014 accounts, but we had expected that would take effect for the accounts for 2015. But this has not occured,” says credit economist Per Einar Ruud to credit reporting company Bisnode.
Developments in profits before tax have been positive over the last three years. Last year, the profit margin rose from 5.4 to 5.7 percent. It would therefore say that a mean has a profit before tax of NOK 57 each NOK 1000.
The equity ratio is also increasing steadily and is now close to 30 percent.
The exception is the company Rogaland, whose profit margin fell last year. It also fell ever so slightly in Hordaland.


Source: NTB scanpix / Norway Today