Industry · municipality
Pharmacies in Stavanger: Industry Overview and Outlook
Analysis of the Pharmacy Industry in Stavanger with a Focus on Companies, Economics, and Geography
Executive Summary of the Pharmacy Industry in Stavanger
Pharmacies in Stavanger form a stable and growing industry with 31 registered companies, including well-established players like Apotek 1 and Vitusapotek. Sales have shown resilience despite fluctuations, with a 3.2% year-over-year increase in 2025. Employee numbers have grown steadily since 2022, reaching 273 in 2024. While one bankruptcy case (Luqman Holding As) highlights risks, the sector's overall health is strong, supported by consistent revenue growth and a diverse geographic footprint across Stavanger, Hafrsfjord, and Rennesøy. SmartGrunder can help founders find suitable locations in Stavanger for pharmacy activity.
Economic Trends and Structure
Economic Trends
Sales have grown from NOK 477.7 million in 2016 to NOK 701.2 million in 2025, with an average annual growth of 6.1% after 2018. Number of employees has grown from 262 in 2016 to 273 in 2024, with an increase of +6.9% from 2021 to 2022. Fluctuations in 2017 and 2018 (a decline of -55.4% and -11.8% in sales, respectively) were offset by strong growth after 2018.
Table: Annual Sales and Employees
| Year | Sales (NOK) | Employees |
|---|---|---|
| 2016 | 477.7M | 262 |
| 2017 | 213.3M | 254 |
| 2018 | 510.9M | 224 |
| 2025 | 701.2M | 273 |
Economic Structure
Most companies are AS entities (25 companies), with an average EBITDA margin of 6% and operational margin of 4%.
Key Players and Organizational Composition
Key Players in the Industry
Stavanger has 31 registered pharmacy businesses, including:
- Apotek 1 Hjorten Stavanger (Hafrsfjord) – 23 employees, 2024 sales: NOK 38.7M
- Vitusapotek Løven Stavanger – 21 employees, 2024 sales: NOK 70.9M
- Ryfylke Apotek As (Rennesøy) – 10 employees, 2024 sales: NOK 28.4M
Organizational Composition
All 31 companies are AS entities, with an average total debt of NOK 127.9M and equity of NOK 27.7M. The most active companies have higher EBITDA margins (7%) compared to the average (6%).
Bankruptcy Cases
A single company, Luqman Holding As, is registered as bankrupt in 2024, but no other companies in the industry have reported bankruptcy.
Geographic Distribution of Business
Distribution of Business in the Municipality
| Location | Number of Companies | Employees | Sales (NOK) |
|---|---|---|---|
| Stavanger | 19 | 200 | 428.4M |
| Hafrsfjord | 3 | 47 | 101.0M |
| Hundvåg | 2 | 10 | 37.3M |
| Rennesøy | 1 | 10 | 28.4M |
Stavanger is the hub for the pharmacy industry with 19 companies (61% of the total), while Hafrsfjord and Rennesøy have smaller but still significant activity. Hundvåg has the fewest companies (2), but the highest operational margin (5%).
Bankruptcy and Operational Efficiency
- One bankruptcy is registered in the industry: Luqman Holding As in Eskelandshagen, Stavanger. The company has 0 employees and 0 sales.
- Operational Efficiency: 30 of 31 companies have positive EBITDA (at least NOK 2.2M), with an average EBITDA margin of 6%. The most profitable companies have EBITDA margins of 7% (Apotek 1 Hjorten, Vitusapotek Løven).
- Risk: The bankruptcy shows that some companies may have high debt (e.g., NOK 127.9M for Stavanger companies), but most have stable operations.
Outlook for Founders
- Stable Market: The pharmacy industry in Stavanger has shown growth in sales (3.2% in 2025) and employees (273 in 2024), with an average annual growth of 6.1% after 2018.
- Competitive Players: 31 companies with an average EBITDA margin of 6% and operational margin of 4%.
- Location: Stavanger, Hafrsfjord, and Rennesøy are all relevant locations, with Stavanger as the industry's hub.
- Risk: One bankruptcy (Luqman Holding As) shows that high debt can be a challenge, but most companies have stable operations.
SmartGrunder can help founders find suitable locations in Stavanger for pharmacy activity.
Comparison with the Crafts Sector
- Larger Sector: The crafts group in Stavanger has 34 companies (31 in the pharmacy industry), with similar sales volumes (NOK 702.9M in 2025 vs NOK 701.2M for pharmacies).
- Operational Efficiency: The crafts sector has an average EBITDA margin of 5.9% (vs 6% for pharmacies) and a higher number of employees (269 vs 273).
- Peer Companies: Examples of companies in the crafts group:
- Buch Optikk As (medical supplies) – EBITDA: -NOK 1.0M, sales: NOK 1.7M
- Endoskopiutstyr As – EBITDA: 0, sales: 0
The crafts sector has greater variation in EBITDA (from -NOK 1.0M to NOK 4.4M), while the pharmacy industry has more stable figures.
Other companies in håndverk (not in pharmacy)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Batteriklubben Berg Johansen | medical/orthopaedic goods store | c/o Jan Berg-Johansen|Dysjalandsveien 86, 4156 Mosterøy | NOK 0 | 0 | NOK 0 |
| Endoskopiutstyr As | medical/orthopaedic goods store | Tastagata 40, 4007 Stavanger | NOK 0 | 2 | NOK 0 |
| Buch Optikk As | medical/orthopaedic goods store | Lagårdsveien 55, 4010 Stavanger | NOK 1.7M | 4 | NOK -1.0M |
Conclusion
Pharmacies in Stavanger represent a stable and growing industry with 31 companies, strong sales growth (3.2% YoY in 2025), and a diverse geographic presence. While one bankruptcy case highlights risks, the sector's overall health is robust. Founders should consider the industry's resilience, established players, and Stavanger's role as a hub for pharmacy activity. SmartGrunder can help with finding suitable locations within the municipality.