Otovo ASA Logo

Otovo ASA








Renewable Electricity



Year Founded


About Otovo ASA

Company Description

To homeowners, Otovo is the easiest way to get solar panels on the roof and batteries in the home.

We are a marketplace organising a network of hundreds of local, high quality energy installers that we have vetted thoroughly.

We use our proprietary technology to analyse the potential of any home and advise precisely about the ideal project so we can give customers an offer in seconds.

Founded in Oslo in 2016, we are the leading marketplace for residential solar in Europe and have sold and completed thousands of solar energy projects across the continent.

Our team consists of engineers, programmers and technical consultants located all over Europe.

Served Area



Torggata 7
0181, Oslo

Financial statements

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Line item in (nok) 01.01.2021 01.01.2022 01.01.2023
Assets N/A 662,267,000.00 937,266,000.00
Noncurrent Assets N/A 365,265,000.00 478,440,000.00
Property Plant And Equipment N/A 73,099,000.00 200,491,000.00
Goodwill N/A 153,637,000.00 158,181,000.00
Intangible Assets Other Than Goodwill N/A 124,409,000.00 102,803,000.00
Investments In Associates Accounted For Using Equity Method N/A 3,360,000.00 0.00
Other Noncurrent Assets N/A 2,236,000.00 2,648,000.00
Current Assets N/A 297,000,000.00 458,826,000.00
Inventories N/A N/A 10,761,000.00
Current Trade Receivables N/A 22,170,000.00 44,054,000.00
Cash and cash equivalents 73,677,000.00 224,187,000.00 193,868,000.00
Noncurrent Assets Or Disposal Groups Classified As Held For Sale N/A 0.00 9,748,000.00
Equity And Liabilities N/A 662,267,000.00 937,266,000.00
Equity 167,354,000.00 521,049,000.00 531,497,000.00
Issued Capital N/A 571,000.00 1,362,000.00
Retained Earnings N/A -350,848,000.00 -663,793,000.00
Share Premium N/A 824,236,000.00 1,156,329,000.00
Additional Paidin Capital N/A 12,380,000.00 37,331,000.00
Noncontrolling Interests N/A 31,303,000.00 0.00
Noncurrent Liabilities N/A 30,391,000.00 141,409,000.00
Deferred Tax Liabilities N/A 17,388,000.00 9,607,000.00
Other Noncurrent Liabilities N/A 29,000.00 0.00
Longterm Borrowings N/A 6,809,000.00 125,672,000.00
Current Liabilities N/A 110,827,000.00 264,359,000.00
Trade And Other Current Payables To Trade Suppliers N/A 29,889,000.00 71,473,000.00
Other Current Liabilities N/A 78,264,000.00 184,139,000.00
Line item in (nok) 01.01.2021/
Revenue 285,265,000.00 637,501,000.00
Other Income 4,137,000.00 14,763,000.00
Changes In Inventories Of Finished Goods And Work In Progress 240,362,000.00 523,152,000.00
Employee Benefits Expense 113,548,000.00 219,117,000.00
Depreciation Amortisation And Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss 21,649,000.00 64,333,000.00
Other Expense By Nature 89,137,000.00 163,197,000.00
Profit Loss From Operating Activities -175,294,000.00 -317,534,000.00
Finance Income 3,194,000.00 1,806,000.00
Finance Costs 1,000,000.00 4,080,000.00
Share Of Profit Loss Of Associates And Joint Ventures Accounted For Using Equity Method -3,312,000.00 -9,864,000.00
Profit Loss Before Tax -154,217,000.00 -319,047,000.00
Income Tax Expense Continuing Operations -457,000.00 -7,781,000.00
Profit (loss) -153,760,000.00 -311,266,000.00
Profit Loss Attributable To Owners Of Parent -153,612,000.00 -309,498,000.00
Profit Loss Attributable To Noncontrolling Interests -148,000.00 -1,768,000.00
Line item in (nok) 01.01.2021 01.01.2022 01.01.2023
Profit (loss) N/A -153,760,000.00 -311,266,000.00
Adjustments For Increase Decrease In Trade Account Payable N/A 10,995,000.00 41,584,000.00
Adjustments For Unrealised Foreign Exchange Losses Gains N/A 0.00 -7,415,000.00
Adjustments For Sharebased Payments N/A 10,248,000.00 24,950,000.00
Cash Flows From Used In Operations N/A -135,284,000.00 -264,301,000.00
Interest Paid Classified As Operating Activities N/A 1,039,000.00 3,791,000.00
Interest Received Classified As Operating Activities N/A 305,000.00 1,017,000.00
Cash Flows From Used In Operating Activities N/A -136,018,000.00 -267,075,000.00
Other Cash Payments To Acquire Equity Or Debt Instruments Of Other Entities Classified As Investing Activities N/A 5,478,000.00 15,411,000.00
Purchase Of Property Plant And Equipment Classified As Investing Activities N/A 4,713,000.00 133,620,000.00
Purchase Of Intangible Assets Classified As Investing Activities N/A 28,774,000.00 29,870,000.00
Cash Flows From Used In Investing Activities N/A 39,638,000.00 -178,900,000.00
Payments Of Lease Liabilities Classified As Financing Activities N/A 3,451,000.00 5,722,000.00
Cash Flows From Used In Financing Activities N/A 247,561,000.00 416,650,000.00
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes N/A 151,181,000.00 -29,326,000.00
Effect Of Exchange Rate Changes On Cash And Cash Equivalents N/A -671,000.00 -991,000.00
Cash and cash equivalents 73,677,000.00 224,187,000.00 193,868,000.00

Please note that some sums might not add up.

Capital Markets Information





Industry Group


Listed Stock Exchange

Oslo Børs

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