2-HAND INTERNATIONAL MACHINERY AND PRODUCTION EQUIPMENT AS: årsregnskap 2018 vs 2017
Shrank 55% on revenue, slipped into loss, cash halved-plus
approved 2019-06-25; registry 2019-08-10; journal 2019 900644
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for 2-HAND INTERNATIONAL MACHINERY AND PRODUCTION EQUIPMENT AS. Revenue 29.61m NOK → 13.31m NOK (-55.1%). Net result +376.6k NOK → -82.4k NOK. Equity 679.9k NOK → 1.92m NOK.
On the constructive side: equity strengthened. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: sharp cash drawdown; cogs fell. All figures are taken from the published annual accounts for 2-HAND INTERNATIONAL MACHINERY AND PRODUCTION EQUIPMENT AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity 679.9k NOK → 1.92m NOK (equity ratio 8.7% → 37.3%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 29.61m NOK to 13.31m NOK (-55.1% YoY). Calculated
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↓
Operating result weakened
Operating result +905.7k NOK → -34.3k NOK (op. margin 3.1% → -0.3%). Calculated
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↓
Fell into a net loss
Net result flipped from 376.6k NOK profit to a loss of 82.4k NOK. Calculated
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↓
Cash fell
Bank deposits 4.52m NOK → 469.8k NOK (-89.6% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 724.4k NOK → 1.11m NOK (2% → 8% of revenue). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (4.52m NOK → 469.8k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
COGS fell
COGS / varekostnad 26.43m NOK → 11.68m NOK (-55.8% YoY). Calculated