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Largest Industry 4.0 Public Companies in Norway
Benchmark revenue and EBITDA valuation multiples for public comps like
Kongsberg, TGS, SmartCraft, Capsol Technologies and Aker Carbon Capture.
 | Kongsberg Gruppen is an international technology company that supplies products and services to the defense, maritime, oil, gas, and aerospace industries. The company is divided into two business segments: the maritime segment and defense and aerospace systems. Maritime, which earns most of the firm's revenue, creates navigation, automation, monitoring, and positioning products for commercial ships and offshore industry. The defense and aerospace segment provides defense and space-related products and systems. Outside of the two main segments, the firm operates Kongsberg Digital, which produces digital solutions for oil, gas, wind, and merchant marine markets. Products are delivered globally, with North America accounting for about one third of total revenue. | $33 | -20% | $29B | $27B | 4.5x | 27.1x | ||
| TGS ASA provides data, intelligence, ocean bottom node (OBN) acquisition services, processing, analytics, cloud-based data applications, and other specialized services and solutions to energy companies across the energy spectrum, whether it is oil and gas, carbon capture and storage, or wind development. Its reportable segments are divided into six overall business units: Contract, Multi-client, New Energy Solutions (NES), Imaging, Shared Services. It generates the majority of its revenue from Multi-client sales. | $16 | +74% | $3B | $4B | 2.4x | 4.1x | ||
| SmartCraft ASA is a software company that provides modern SaaS solutions to help craftsmen and construction companies become more efficient and profitable. Geographically, it operates in Norway, Sweden, Finland, and UK. | $2 | -31% | $313M | $316M | - | - | ||
| Capsol Technologies ASA is a carbon capture technology provider to accelerate the transition to a carbon-negative future. Its technology combines inherent heat recovery and generation in a standalone unit based on a safe solvent. Capsol’s technology is licensed either directly to customers or through industrial partners globally across key segments, including cement, biomass, energy-from-waste, and gas turbines. It has only one reporting and operating segment, which is the carbon capture solution technology. Geographically, the company generates a majority of its revenue from Europe and also has a presence in the United States and other regions. | $0 | -55% | $33M | $35M | 4.6x | (6.4x) | ||
| Aker Carbon Capture ASA is a carbon capture technology provider. The company's proprietary carbon capture process uses a mixture of water and organic amine solvents to absorb the CO2. This process can be applied to emissions from various sources, from gas, coal, cement, refineries, and waste-to-energy through to hydrogen and other process industries. Its products and services include Just Catch, Offshore Just Catch, Big Catch, Mobile Test Unit - Rental service, CO2 for Enhanced Oil Recovery (EOR) and Storage Practice. | $0 | -57% | $9M | ($193M) | (298.7x) | (199.1x) | ||
| Median | $2 | -31% | $313M | $316M | 3.4x | (1.2x) |
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