5 X H MOTE NATIONAL AS: årsregnskap 2003 vs 2002
Shrank 83% on revenue, stronger earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for 5 X H MOTE NATIONAL AS. Revenue 1.23m NOK → 207.5k NOK (-83.1%). Net result -34.8k NOK → -7 684 NOK. Equity 65.2k NOK → 57.5k NOK.
On the constructive side: net result improved; payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: cogs fell. All figures are taken from the published annual accounts for 5 X H MOTE NATIONAL AS.
At a glance
Scorecard
What improved
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Net result improved
Net result -34.8k NOK → -7 684 NOK (net margin -2.8% → -3.7%). Calculated
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Payroll decreased
Salary cost 303.5k NOK → 20.0k NOK (25% → 10% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 1.23m NOK to 207.5k NOK (-83.1% YoY). Calculated
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Operating result weakened
Operating result +17.5k NOK → +2 351 NOK (op. margin 1.4% → 1.1%). Calculated
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Equity eroded
Book equity 65.2k NOK → 57.5k NOK (equity ratio 22.9% → 57.6%). Calculated
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Cash fell
Bank deposits 55.2k NOK → 10.4k NOK (-81.2% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.62× → 0.90× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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COGS fell
COGS / varekostnad 716.7k NOK → 167.1k NOK (-76.7% YoY). Calculated