FirmaIQ
Org.nr 936 534 112 2003 → 2004 Year-over-year analysis

2 BRØDRE HOLDING AS: årsregnskap 2004 vs 2003

Grew 19% on revenue, stronger earnings

Full company analysis · All year comparisons

Summary

What changed

Comparing Årsregnskap 2004 with 2003 for 2 BRØDRE HOLDING AS. Revenue 74.05m NOK → 88.48m NOK (+19.5%). Net result +5.04m NOK → +9.42m NOK. Equity 20.76m NOK → 10.00m NOK.

On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded.

Also worth watching: thin equity buffer; cogs moved. All figures are taken from the published annual accounts for 2 BRØDRE HOLDING AS.

At a glance

Scorecard

Revenue
74.05m NOK 88.48m NOK
+19.5%
Operating result
+8.61m NOK +12.84m NOK
+49.2%
Net result
+5.04m NOK +9.42m NOK
+86.8%
Equity
20.76m NOK 10.00m NOK
-51.8%
Total assets
76.43m NOK 113.64m NOK
+48.7%

What improved

  • ↑

    Revenue rose

    Operating income / revenue moved from 74.05m NOK to 88.48m NOK (+19.5% YoY). Calculated

  • ↑

    Operating result improved

    Operating result +8.61m NOK → +12.84m NOK (op. margin 11.6% → 14.5%). Calculated

  • ↑

    Net result improved

    Net result +5.04m NOK → +9.42m NOK (net margin 6.8% → 10.6%). Calculated

What deteriorated

  • ↓

    Equity eroded

    Book equity 20.76m NOK → 10.00m NOK (equity ratio 27.2% → 8.8%). Calculated

Things to notice

  • ·

    Thin equity buffer

    Equity ratio is 8.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation

  • ·

    COGS moved

    COGS / varekostnad 45.84m NOK → 50.87m NOK (+11.0% YoY). Calculated