2-HAND INTERNATIONAL MACHINERY AND PRODUCTION EQUIPMENT AS: årsregnskap 2020 vs 2019
Shrank 6% on revenue, stronger earnings, cash halved-plus
registry 2021-07-21; journal 2021 519740
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 2-HAND INTERNATIONAL MACHINERY AND PRODUCTION EQUIPMENT AS. Revenue 22.62m NOK → 21.29m NOK (-5.9%). Net result +456.2k NOK → +575.5k NOK. Equity 2.37m NOK → 3.95m NOK.
On the constructive side: operating result improved; net result improved; equity strengthened. Pressures included: revenue fell; cash fell.
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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Operating result improved
Operating result +658.5k NOK → +994.8k NOK (op. margin 2.9% → 4.7%). Calculated
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Net result improved
Net result +456.2k NOK → +575.5k NOK (net margin 2.0% → 2.7%). Calculated
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Equity strengthened
Book equity 2.37m NOK → 3.95m NOK (equity ratio 40.6% → 48.6%). Calculated
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Payroll decreased
Salary cost 3.64m NOK → 10.2k NOK (16% → 0% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 22.62m NOK to 21.29m NOK (-5.9% YoY). Calculated
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Cash fell
Bank deposits 1.22m NOK → 129.3k NOK (-89.4% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (1.22m NOK → 129.3k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
COGS fell
COGS / varekostnad 20.76m NOK → 18.67m NOK (-10.1% YoY). Calculated