Malbikstöðin ehf.

What Malbikstöðin ehf. does

Malbikstöðin ehf. is an Icelandic asphalt production and paving contractor headquartered in Mosfellsbær, with a production and recycling facility at Esjumelar and an operations/works facility at Flugumýri. The company manufactures a broad asphalt product line spanning standard AC and SMA grades, light-colored Durasplitt variants, polymer-modified (SBS) mixes, drainage asphalt, and the branded Glitbik product incorporating recycled glass in place of quarry sand. Production is powered by methane burners (up to 1,000,000 Nm3/year sourced from SORPA via GAJA) and the line can incorporate up to 60% recycled asphalt, with an in-house research laboratory supporting quality control and product development under ISO 9001, ISO 14001, EN-13108 CE marking, ÍST-85 equal-pay certification, and a third-party-verified EPD.

The business operates a vertically integrated model: it sells asphalt materials by the tonne, accepts and recycles external asphalt rubble at Esjumelar, and dispatches its own paving crews for ground preparation, milling, and laying. Pricing is published per tonne in ISK across product grades (e.g., 24,500 ISK for base-layer BRL 16 mm up to 34,000 ISK for SMA 11 mm Durasplitt), with separate SKUs for cold-repair asphalt and reception fees. Go-to-market is sales-led and B2B, targeting Icelandic municipalities and government infrastructure projects as the primary segment, with private construction contractors and developers as a parallel segment; customers request quotes through a website form or direct contact.

All operations are domestic within Iceland; the company has no disclosed international footprint. It is privately held, with Vilhjálmur Þór Matthíasson serving as both owner and CEO (framkvæmdastjórí). Strategic positioning centers on environmental leadership — 2,700 tonnes CO2eq annual carbon savings, 60.9 kg CO2eq per 1,000 kg of product, and circular-economy inputs — complemented by a long-running community sponsorship of the Afturelding football club and the 2024 VR Fyrirmyndar fyrirtæki workplace recognition.

Name

Malbikstöðin ehf.

Legal name

Malbikstöðin ehf.

Website

https://malbikstodin.is

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Malbikstöðin ehf. is a privately held Icelandic asphalt producer and paving contractor that manufactures and lays standard and recycled-content asphalt for Icelandic municipalities, government projects, and private construction firms from its Mosfellsbær-based facilities.

Ownership category

akta.pro rank

Product category

Asphalt Production and Road Construction Services

NAICS

Asphalt Paving Mixture and Block Manufacturing (324121)

SIC

Asphalt Paving & Roofing Materials (2950)

akta.pro primary industry

Asphalt Mixing & Paving Materials (Hot/Warm/Cold Mix, RAP/RAS Blends) (EUALAKAG)

akta.pro secondary industry

Polymer-Modified Asphalt (PMB) & Modified Binders (SBS/Crumb Rubber/Plastomers) (EUALAKAD)

Keywords

• Hot mix asphalt production
• Asphalt paving services
• Recycled asphalt materials
• Road construction contracting
• Asphalt milling services

Headquarters

HQ city

Mosfellsbær

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Asphalt material sales: Production and sale of asphalt raw materials to construction contractors and municipalities. Products include various asphalt grades for base layers, surface layers, wearing courses, and specialty products. Sold per ton with pricing varying by grade and formulation.
2. Paving and construction contracting services: Full-service asphalt paving, milling, earthwork preparation, and road construction for projects ranging from small parking lots and pathways to major roads and highways. Includes site preparation, asphalt laying, and quality assurance.
3. Asphalt recycling and material reception: Receipt and recycling of excavated and milled asphalt at the company's Esjumelar facility. Accepts asphalt rubble and milled asphalt for processing into new asphalt products. Fee charged for material reception.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Malbikstöðin ehf. produces and sells multiple grades of hot mix asphalt (AC, SMA, BRL, Durasplitt, drainage asphalt, and SBS-modified variants) at its Esjumelar facility in Iceland, priced per ton in Icelandic Kroner. The company complements material supply with full-service asphalt paving, milling, ground preparation, and asphalt recycling at customer sites, targeting municipalities and private construction contractors across Iceland. It also accepts excavated and milled asphalt at Esjumelar for recycling into new products, and markets the innovative Glitbik recycled-glass asphalt as a sustainable specialty product.

Product overview

Malbikstöðin ehf. is an Icelandic asphalt production and paving company operating a multi-product portfolio centered around its core asphalt manufacturing facility at Esjumelar. The company produces various asphalt types including standard mixes (AC series), stone mastic asphalt (SMA), drainage asphalt, and the innovative Glitbik product featuring recycled glass. The product line includes bearing layers, surface courses, overlays, and specialized products like Durasplitt (light-colored surfaces) and SBS polymer-modified asphalts for heavy-traffic roads. Beyond manufacturing, the company offers integrated services including asphalt paving, milling, ground preparation, and accepts recycled asphalt materials. The company operates production facilities in Esjumelar and Flugumýri, with mobile paving crews for project execution.

Differentiator

Problem solved

Functional benefit

Brands

• Glitbik: A sustainable asphalt product made with recycled glass that sparkles in certain light conditions, sourced from Icelandic recycling company Íslenska Gámafélagið.

Products and services

• Glitbik recycled-glass asphalt Sustainable asphalt product using recycled glass in place of quarry sand, producing a distinctive glittering surface as it wears. Equally durable, smooth, and reliable as traditional asphalt. Suitable for roads, paths, parking lots, and other surfaces. Sold to municipalities and private construction contractors.
• Hot mix asphalt (AC, BRL, SMA, Durasplitt, drainage variants) Multiple hot-mix asphalt grades produced at the Esjumelar facility, including BRL 16 mm base layer, AC 8/11/16 mm surface and patching courses, AC and SMA Durasplitt light-colored variants with SBS polymer modification, and drainage (Drenmalbik) 11 mm. Priced per ton in ISK with pricing varying by grade and traffic application (AADT). Sold to construction contractors and municipalities.
• Cold repair asphalt (Kalt viðgerðarmalbik) Cold-mix asphalt repair product in 15 kg bags (4,900 kr) and 20-bag drums (98,000 kr), used for pothole and patch repairs by contractors and municipalities.
• Mulningur 0-22 (crusher run / grading material) Crusher run 0-22 mm grading material suitable as a leveling layer under asphalt (1,850 kr/ton).
• Asphalt paving (Malbikun) Full-service asphalt paving for parking lots, paths, streets, roads, and any surface requiring asphalt. Company accepts both small and large projects, with mobile paving crews delivering at customer sites across Iceland.
• Asphalt milling (Malbiksfræsun) Asphalt milling service using first-class equipment, enabling partial reuse of existing materials without disturbing the subbase. Milled material is accepted for recycling at Esjumelar.
• Ground preparation (Undirbúningur) Ground and soil preparation work for paving projects, contracted as a turnkey service to ensure quality and durability of roads and paths.
• Asphalt reception and recycling (Móttaka malbiks) Acceptance and recycling of excavated and milled asphalt at the Esjumelar facility for processing into new asphalt products. Reception fee charged per ton delivered.

Quantifiable outcome

• 2,700 tonnes CO2 equivalent annual carbon savings from environmentally friendly production
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• AftureldingcoreGTM or Marketing Partner · 1 March 2024Multi-year stadium naming rights and sponsorship deal. The home stadium of Afturelding football club bears the name 'Malbikstöðin að Varmá.' The partnership was extended in 2024 for at least three more years. This is described as the largest sponsorship deal in the club's history.
• SORPAcoreStrategic or Co-development PartnerSORPA (Icelandic waste management authority) supplies purified methane gas produced by GAJA from household waste. Malbikstöðin purchases up to 1,000,000 Nm3 of methane per year, replacing diesel oil in asphalt production. SORPA and Malbikstöðin signed a letter of intent for this supply arrangement.
• Íslenska GámafélagiðminorStrategic or Co-development PartnerÍslenska Gámafélagið supplies recycled glass that is used as a raw material input in Glitbik, the company's innovative glass-asphalt product. The glass would otherwise be sent to landfill and is now given new life in asphalt production.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Peab Asfalt: Peab's Swedish asphalt division producing paving mixes, providing paving services, and emphasizing recycled content. Comparable in scale, mix of production-plus-services, and focus on circular-economy positioning.
• Lemminkäinen (now part of YIT): Finnish/Nordic paving and asphalt producer with deep recycled-asphalt expertise. Comparable in cold-climate paving conditions, focus on durable mixes for low- and high-traffic roads, and emphasis on circular materials.
• NCC Industry: Swedish asphalt and aggregates producer with operations across the Nordics. Closely comparable business model — producing asphalt mixes, running paving crews, and offering recycled asphalt — and competing in similar sustainability-driven Nordic procurement markets.
• Íslenskir aðalverktakar (IAV): One of Iceland's largest general contractors, active in road and infrastructure projects that consume asphalt. Comparable as a domestic Icelandic counterpart competing for the same municipal infrastructure tenders and representing both a customer-adjacent competitor and a potential channel.
• Veidekke Industri: Norwegian contractor producing asphalt and aggregates and offering paving and road maintenance services across the Nordics. Directly comparable in vertical integration (production + paving) and exposure to small-market, climate-conscious public infrastructure clients.

Broad incumbents

• Skanska: Major Nordic-headquartered contractor with significant asphalt and road-building operations across the Nordics, UK, and US. Comparable in asphalt production and paving services, though much broader in scope (construction, real estate development).
• Eurovia (VINCI): VINCI's road construction and asphalt materials subsidiary, operating across Europe with strong emphasis on recycled asphalt and low-carbon production. Directly comparable in product offering (asphalt mixes, paving, recycling) and in competing for sustainability-driven public tenders.
• Colas: Bouygues subsidiary and one of the world's largest road construction and asphalt materials producers. Comparable as a global benchmark for asphalt production, paving services, and recycled-mix adoption; offers a yardstick for what scaled, sustainability-focused asphalt operations look like.
• Strabag: European construction group with substantial asphalt production and paving operations across Central and Northern Europe. Comparable in materials-plus-services model and increasing focus on low-carbon asphalt technologies.
• CRH plc: Global building materials group with significant asphalt and aggregates operations across Europe and North America. Comparable as an incumbent asphalt materials producer and recycler, with much broader geographic and product diversification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/malbikstodin
• LinkedInlinkedin.com/company/malbikst%C3%B6%C3%B0in

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Malbikstöðin ehf.