How BAMA Storkjøkken squeezed NOK 153m of operating profit from modest growth

BAMA Storkjøkken AS, an Oslo company in the BAMA group, booked revenue of NOK 2.4bn in FY2025, up 7.9% on FY2024. Operating profit rose 36.0% to NOK 153m from NOK 113m, so profit grew 4.54× as fast as sales. The operating margin widened to 6.3% from 5.0%, a gain of 1.3 pp. Net profit reached NOK 162m, and cash ended the year at NOK 14.5m.

Profit outruns sales when much of the cost base is fixed: rent, staff, machines and management cost the same in a slightly busier year. The accounts do not split fixed from variable costs, but the pattern fits. The margin now sits far above the median of 0.9% across 8 comparable companies, a gap of 5.4 pp. Fixed costs also work in reverse, so a modest drop in revenue would cut profit just as fast. The company changed control and gained a new chief executive in early November 2026, which is a reason to watch how the cost base holds up. A good year, then, though I would ask how fixed the costs really are.