1ST BRANDS AS: årsregnskap 2020 vs 2019
Shrank 19% on revenue, slipped into loss
approved 2021-06-28; registry 2021-08-10; journal 2021 594693
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 1ST BRANDS AS. Revenue 8.35m NOK → 6.80m NOK (-18.5%). Net result +271.9k NOK → -208.5k NOK. Equity -548.7k NOK → -757.2k NOK.
On the constructive side: cash rose; payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for 1ST BRANDS AS.
At a glance
Scorecard
What improved
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↑
Cash rose
Bank deposits 171.9k NOK → 205.6k NOK (+19.6% YoY). Calculated
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↑
Payroll decreased
Salary cost 4.42m NOK → 3.79m NOK (53% → 56% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 8.35m NOK to 6.80m NOK (-18.5% YoY). Calculated
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↓
Operating result weakened
Operating result +360.3k NOK → -217.5k NOK (op. margin 4.3% → -3.2%). Calculated
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Fell into a net loss
Net result flipped from 271.9k NOK profit to a loss of 208.5k NOK. Calculated
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↓
Equity eroded
Book equity -548.7k NOK → -757.2k NOK (equity ratio -43.4% → -45.6%). Calculated
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↓
COGS moved
COGS / varekostnad 101.5k NOK → 112.4k NOK (+10.7% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -45.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 36.5k NOK → 14.1k NOK. Reported fact