KVARVHEIM AS

Operating

Å forestå finansielle investeringer i ulike sektorer, utenom sjømatnæringene.

Investeringsselskap. Å forestå finansielle investeringer i ulike sektorer, utenom sjømatnæringene.

Organization

Chairman of the board: HE
Harald Ellefsen1950
Years since formation: 7 years; since Oct 3, 2019
Type: Limited company
VAT registered: No
Number of employees: 0

Ownership

Number of shares and share classes: 10,000; 1 share class
Total number of shareholders: 2; companies
Belongs to group of

Financials

Annual total result 2025: 27,572,711; NOK
Total equity 2025: 153,917,263; NOK

Last update: Aug 11, 2026

Management

Board

Name	Role	Shares
HE Harald Ellefsen 1950	Chairman	-
GM Gustav Magnar Witzøe 1993	Board Member	-

Others

Name	Role	Shares
P PRICEWATERHOUSECOOPERS AS	Auditor	-

Top 10 individual shareholders

Name	Role	Shares
MW Magnar Witzøe Gustav 1993	-	87.4 % indirectly
EH Ellefsen Harald 1950	-	8.91 % indirectly

Last update: Apr 13, 2023

Ownership

Company shareholders

Name	Share class	Total number of shares	Share
T THE FORWARD PROJECT AS	Ordinary shares	9,010	90.1 %
S SOFELL AS	Ordinary shares	990	9.9 %

Shares owned by the KVARVHEIM AS

Name	Share class	Total number of shares	Share
Z ZALARIS ASA	Ordinary shares	50,000	0.23 %
P PEXIP HOLDING ASA	Ordinary shares	27,500	0.03 %
L LINK MOBILITY GROUP HOLDING ASA	Ordinary shares	101,500	0.03 %
N NORBIT ASA	Ordinary shares	21,000	0.03 %
E ELKEM ASA	Ordinary shares	128,300	0.02 %
N NORDIC SEMICONDUCTOR ASA	Ordinary shares	32,300	0.02 %
S SATS ASA	Ordinary shares	35,000	0.02 %
B Bonheur ASA	Ordinary shares	2,800	< 0.01 %
S SPAREBANKEN NORGE	Ordinary shares	10,000	< 0.01 %
A AKER ASA	Ordinary shares	3,800	< 0.01 %
O ORKLA ASA	Ordinary shares	13,100	< 0.01 %
N Norsk Hydro ASA	Ordinary shares	45,100	< 0.01 %
S STOREBRAND ASA	Ordinary shares	61,400	< 0.01 %
V VÅR ENERGI ASA	Ordinary shares	31,000	< 0.01 %
S SPAREBANK 1 ØSTLANDET	Ordinary shares	8,400	< 0.01 %
P PUBLIC PROPERTY INVEST ASA Closed	Ordinary shares	60,000	< 0.01 %
E EQUINOR ASA	Ordinary shares	11,000	< 0.01 %
D DOF GROUP ASA	Ordinary shares	10,600	< 0.01 %
V VEND MARKETPLACES ASA	Ordinary shares	20,700	< 0.01 %
S SPAREBANK 1 SØR-NORGE ASA	Ordinary shares	12,317	< 0.01 %
S SPAREBANK 1 SMN	Ordinary shares	20,900	< 0.01 %
S SPAREBANK 1 NORD-NORGE	Ordinary shares	8,500	< 0.01 %
K KONGSBERG GRUPPEN ASA	Ordinary shares	16,400	< 0.01 %
N NORCONSULT ASA	Ordinary shares	38,000	< 0.01 %
T TELENOR ASA	Ordinary shares	16,200	< 0.01 %
Y YARA INTERNATIONAL ASA	Ordinary shares	19,800	< 0.01 %
D DNB BANK ASA	Ordinary shares	22,950	< 0.01 %
B BLUENORD ASA	Ordinary shares	2,400	< 0.01 %
K KID ASA	Ordinary shares	5,500	< 0.01 %
A AKER BP ASA	Ordinary shares	3,000	< 0.01 %
S SCATEC ASA	Ordinary shares	16,300	< 0.01 %
W WILH. WILHELMSEN HOLDING ASA	Ordinary shares	2,400	< 0.01 %
G GJENSIDIGE FORSIKRING ASA	Ordinary shares	12,600	< 0.01 %
B BORREGAARD ASA	Ordinary shares	6,000	< 0.01 %
E ENTRA ASA	Ordinary shares	25,800	< 0.01 %

Last update: Sep 25, 2026

Group structure

KVARV AS
Total operating income 2025: NOK 218,000
Operating profit 2025: NOK -35,715,000
Employees: 5

Financials

in NOK

Summary

Year	2025	2024	2023	2022	2021
Total operating income	0	0	0	0	0
Annual Total Result	27,572,711	24,917,968	18,756,161	-6,578,473	15,769,476
Total assets	159,978,101	132,493,184	105,063,817	84,672,714	92,126,156
Total liabilities	6,060,839	6,148,632	3,637,233	855,765	1,235,599
Total equity	153,917,263	126,344,552	101,426,584	83,816,949	90,890,557

P&L

Year	2025	2024	2023	2022	2021
Total operating income	0	0	0	0	0
Total operating costs	123,865	129,175	92,718	98,430	46,658
Operating result	-123,865	-129,175	-92,718	-98,430	-46,658
Financial income/costs	27,797,852	27,721,981	20,799,058	-7,188,979	16,634,041
Profit before tax	27,673,987	27,592,806	20,706,340	-7,287,409	16,587,383
Total tax & extraordinary income/cost	101,276	2,674,838	1,950,179	-708,936	817,907
Annual Total Result	27,572,711	24,917,968	18,756,161	-6,578,473	15,769,476

Balance overview

Year	2025	2024	2023	2022	2021
Total fixed assets	0	0	0	0	0
Total current assets	159,978,101	132,493,184	105,063,817	84,672,714	92,126,156
Total assets	159,978,101	132,493,184	105,063,817	84,672,714	92,126,156
Short term debt	4,920,806	3,614,989	2,309,906	855,765	239,818
Long term debt	1,140,033	2,533,643	1,327,327	0	995,781
Total liabilities	6,060,839	6,148,632	3,637,233	855,765	1,235,599
Contributed capital	80,702,157	76,072,444	71,387,720	71,387,720	71,387,720
Retained earnings	73,215,105	50,272,108	30,038,864	12,429,229	19,502,837
Total equity	153,917,263	126,344,552	101,426,584	83,816,949	90,890,557
Total equity and liabilities	159,978,101	132,493,184	105,063,817	84,672,714	92,126,156

Classification

21st company classification

BETA

Small company

Type of organization

Limited company

Classification of institutional sector

INNL

Domestic sectors

A_IKKE-FIN

Non-financial corporations

2100

Private non-financial incorporated enterprises

Standard industrial classification

KVARVHEIM AS923 544 909

KVARVHEIM AS

Organization

Ownership

Financials

Management

Board

Others

Top 10 individual shareholders

Ownership

Company shareholders

Shares owned by the KVARVHEIM AS

Group structure

Financials

Summary

P&L

Balance overview

Classification