Solid results—positioned for further growth
Aars posted strong results in 2025, driven by record sales of electric vehicles in its automotive division, an impressive turnaround at the industrial group OneCo, and solid growth at the technology company Northcom.
Oslo, June 10, 2025
2025 was a very good year for the Møller family’s investment company, Aars. Several of the businesses delivered revenue growth and solid results. At the same time, Aars strengthened its efforts in workplace inclusion.
Collectively, the businesses contributed to Aars with record-high operating revenues of 58.9 billion kroner in 2025, up from 47.6 billion kroner the previous year. Profit before tax ended at 1.8 billion kroner, an increase from 1.1 billion in 2024.
Following strong results over several years, Aars now has assets valued at approximately 27.5 billion kroner.
“These are results we can be proud of, and they have been created by more than 8,000 talented employees in our companies. I am impressed by the achievements over the past year,” says Chairman and CEO Øyvind Schage Førde.
-These are results we can be proud of, and which have been created by more than 8,000 skilled employees in our companies, says Chairman and CEO Øyvind Schage Førde.
Positioned for further growth
The Møller family has been part of Norwegian business for 90 years, and Aars currently consists of businesses in the automotive, real estate, and asset management sectors. In addition, Aars owns a portfolio of Nordic companies across various industries.
- The automotive business, which is consolidated under the Møller Mobility Group, generates high activity and ongoing earnings. At year-end, it accounted for just over one-third of Aars’ total assets.
- The real estate portfolio provides stable and predictable returns. It has grown from NOK 2.5 billion to over NOK 14 billion since its establishment in 2010 and includes several major development projects: a new hotel and the renovation of the old library into the Deich photo gallery in Hammersborg, as well as the innovative Hasle Kraft office building—all three in Oslo.
- Direct investments drive growth in new markets and consist of five companies: Oneco, Onitio, Function, Alfa Sko, and Northcom.
- The asset management environment ensures financial flexibility and robustness.
“If one market performs poorly, we see that it is offset by better results in another. This model has worked very well over several years,” says Schage Førde.
Aars now has a strong financial position, which provides a solid foundation for further growth. A new strategy sets the direction for the ownership group over the next ten years with ambitious goals: by 2035, the value of the ownership group is to be doubled. Schage Førde is clear that the ability to adapt will be crucial for the family business to succeed just as well in the coming years.
“What we do today may not be the right thing to do tomorrow. From the very beginning, the family and the owners behind Aars have been driven by a strong entrepreneurial spirit. It is crucial that we carry this forward as the ownership and portfolio of businesses grow,” he says.
Record sales and great potential
In 2025, the automotive business was the key driver behind Aars’ results. Møller Mobility Group delivered record results with NOK 49.5 billion in revenue and NOK 1.5 billion in pre-tax profit. Toward the end of last year, a notice was issued regarding a tax increase on electric vehicles starting in 2026. This led to a rush of customers looking to secure a new car.
“It was all hands on deck. The entire organization at Møller Mobility Group mobilized to ensure we could deliver enough cars,” says Schage Førde.
The industrial group OneCo, with over 2,000 employees, has undergone a significant transformation in recent years to address the downturn in the telecommunications market. The turnaround has yielded solid results in 2025, with strong growth in infrastructure within electrical, energy, and security sectors.
“It’s great to see that the steps taken to adjust our course have been the right ones for creating a profitable and forward-looking industrial group,” says Chairman Schage Førde.
He also highlights the strong growth of Northcom, in which Aars became the majority owner in 2025. Northcom is positioning itself to become a leading Nordic provider of next-generation communication solutions for emergency services, defense, and other critical societal functions.
“We see significant growth potential in the coming years, as the Nordic countries are set to modernize their infrastructure for mission-critical communications,” says Schage Førde.
-One in five people of working age are outside of work and education. In 2025, NAV and Aars entered into a mutually binding agreement on recruitment, qualification and inclusion to get more people into permanent jobs. Left: Maria Wahlberg (NAV Oslo) and Øyivind Schage Førde at the signing on December 4.
Since 2017, Aars has been working to promote the inclusion of people who are outside the labor market and the education system through systematic training and the opportunity to be offered permanent employment. To date, approximately 100 people have been offered jobs through this initiative. In 2025, Aars consolidated its methodology into the company Aarsverk.
In 2025, Aars and NAV entered into a binding cooperation agreement on the recruitment and training of employable individuals who are outside the mainstream labor market. The agreement is the first of its kind and represents an important recognition of the inclusion efforts and methodology now managed by Aarsverk.
“Aarsverk is a toolkit available to all the companies we own. As part of our new strategy, we have elevated inclusion to a clear management responsibility within the companies,” says Schage Førde.
The annual report, financial statements, and notes for 2025 can be found here