24/7 EKSPRESS AS: årsregnskap 2005 vs 2004
Shrank 28% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for 24/7 EKSPRESS AS. Revenue 3.56m NOK → 2.56m NOK (-28.2%). Net result -149.5k NOK → -67.8k NOK. Equity 97.2k NOK → 29.4k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: revenue fell; equity eroded; payroll up without matching revenue.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for 24/7 EKSPRESS AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -146.0k NOK → -60.6k NOK (op. margin -4.1% → -2.4%). Calculated
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Net result improved
Net result -149.5k NOK → -67.8k NOK (net margin -4.2% → -2.7%). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 3.56m NOK to 2.56m NOK (-28.2% YoY). Calculated
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↓
Equity eroded
Book equity 97.2k NOK → 29.4k NOK (equity ratio 29.0% → 7.3%). Calculated
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↓
Payroll up without matching revenue
Salary cost 28.3k NOK → 2.20m NOK (1% → 86% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 7.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 3.25m NOK → 1.81m NOK (-44.4% YoY). Calculated