1ST BRANDS AS: årsregnskap 2022 vs 2021
Shrank 7% on revenue, slipped into loss
approved 2023-04-20; registry 2023-05-13; journal 2023 377227
Summary
What changed
Comparing Årsregnskap 2022 with 2021 for 1ST BRANDS AS. Revenue 7.80m NOK → 7.29m NOK (-6.5%). Net result +78.2k NOK → -59.8k NOK. Equity -679.0k NOK → -738.8k NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for 1ST BRANDS AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 4.37m NOK → 3.87m NOK (56% → 53% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 7.80m NOK to 7.29m NOK (-6.5% YoY). Calculated
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↓
Operating result weakened
Operating result +138.4k NOK → -20.4k NOK (op. margin 1.8% → -0.3%). Calculated
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↓
Fell into a net loss
Net result flipped from 78.2k NOK profit to a loss of 59.8k NOK. Calculated
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↓
Equity eroded
Book equity -679.0k NOK → -738.8k NOK (equity ratio -42.5% → -43.0%). Calculated
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↓
Cash fell
Bank deposits 170.7k NOK → 146.7k NOK (-14.0% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -43.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 183.1k NOK → 177.2k NOK (-3.3% YoY). Calculated