May 2026
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Largest Construction & Engineering Public Companies in Norway
Benchmark revenue and EBITDA valuation multiples for public comps like
DOF Group, Veidekke, AF Gruppen, Norconsult and Sentia.
 | DOF Group ASA is a provider of integrated subsea projects and marine services to the offshore energy market. DOF operates in five segments, which include DOF Subsea Group, DOF Rederi, Norskan Offshore Ltda, DOF Denmark, and Corporate and vessel management. The majority of revenue is derived from the subsea segment, which is engaged in subsea engineering and shipowning. The company generates the majority of its revenue from the DOF Subsea segment. The activities from the subsea operations include Subsea IMR projects contracts ("subsea projects") and fixed time charter contracts ("long-term chartering"). | $15 | +62% | $4B | $5B | 2.5x | 5.9x | ||
| Veidekke ASA is engaged in construction and property development. It constructs building and residential projects, enters civil engineering contracts, and undertakes various infrastructure developments. The company has six operating segments; Construction Norway includes apartment complexes and non-residential buildings, Infrastructure Norway includes road maintenance, railways, power production, and airport, Construction Sweden includes construction projects, including residential units, offices, schools, and cultural buildings, Infrastructure Sweden includes infrastructure, extractive industries, heavy industry, energy, and recycling facilities/landfill, Denmark includes commercial buildings, and Other comprises undistributed costs. | $19 | +19% | $3B | $2B | 0.5x | 6.0x | ||
| AF Gruppen ASA A is one of Norway's contracting and industrial groups. The company provides services in areas of civil engineering and services geared toward environmental, building, and energy markets. The company conducts projects related to roads, railways, ports, power, and energy development. For buildings and property development, its services span the entire value chain, and resources are utilized for planning and execution. The majority of revenue comes from traditional building activities, including new projects and rehabilitation ventures. Environmental services revolve around demolition, removal, and environmental clean-up of buildings and industrial plants. | $20 | +25% | $2B | $2B | 0.6x | 7.7x | ||
| Norconsult ASA is principally engaged in the provision of planning and consultancy services for all phases of social planning, engineering design, and architecture projects. The Group also develops and distributes complete IT solutions for project, building, and facility management for infrastructure and property. | $4 | -20% | $1B | $1B | 1.1x | 8.4x | ||
| Sentia ASA is engaged in large-scale, complex, and sustainable construction projects. The Group has presence across Norway and Sweden and consists of the following two main business segments: HENT (HENT) and Sweden (Sentia Sweden). It is a construction group that builds large-scale, complex buildings and structures for private and public clients, such as hospitals, schools and universities, administrative buildings, police and defence buildings, swimming pools, hotels, apartment buildings, station buildings, land-based fish farming facilities, factory buildings, and more. The Group receives its construction projects either through direct contact with customers or through organised tender processes. | $8 | -- | $824M | $366M | 0.3x | 4.0x | ||
| Multiconsult ASA is a specialist in engineering design, consultancy, and architecture services. The company's activities involve multidisciplinary consultancy, design, planning, project supervision, project management, geotechnical site surveys, verification, and controls in Norway and abroad. It provides engineering services in Norway, Sweden and Poland in addition to architecture services in all three Scandinavian countries. Its business segments are Buildings and Properties, Mobility and Transportation, Energy and Industry, and Water and Environment. Majority of revenue is from Buildings and Properties. Its geographical segments include Norway, Sweden, Denmark, Poland, and other countries. | $17 | -18% | $472M | $615M | 0.9x | 8.7x | ||
| Inin Group AS is a Norwegian industrial owner that follows a vertically focused buy-and-build planning to identify and invest in niches with potential for development and growth. It specializes in the infrastructure services sectors such as Rail, Power supply, and Electrification, and works closely with companies to drive sustainable growth. The company operates in three segments, which include ININ Rail Infrastructure, ININ Power, and ININ Inspekt (TIC), and the majority of its revenue is generated from the ININ Rail Infrastructure. Geographically, the company operates in Norway, Sweden, and the rest of the world, and the Norway region generates the majority of its revenue. | $0 | +34% | $45M | $80M | 0.8x | (75.3x) | ||
| Goodtech ASA provides technical solutions in the field of electric, power technology and infrastructure. It also supplies automation products and streamlining solutions globally. | $1 | +26% | $36M | $31M | 0.4x | 4.2x | ||
| Median | $12 | +25% | $998M | $977M | 0.7x | 6.0x |
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