50 DEGREES NORTH NORDIC AS: årsregnskap 2020 vs 2019
Shrank 76% on revenue, slipped into loss, cash halved-plus
registry 2021-08-11; journal 2021 600430
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 50 DEGREES NORTH NORDIC AS. Revenue 36.84m NOK → 8.67m NOK (-76.5%). Net result +1.54m NOK → -1.28m NOK. Equity 2.74m NOK → 1.47m NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for 50 DEGREES NORTH NORDIC AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 3.54m NOK → 1.98m NOK (10% → 23% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 36.84m NOK to 8.67m NOK (-76.5% YoY). Calculated
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↓
Operating result weakened
Operating result +1.03m NOK → -2.47m NOK (op. margin 2.8% → -28.4%). Calculated
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↓
Fell into a net loss
Net result flipped from 1.54m NOK profit to a loss of 1.28m NOK. Calculated
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↓
Equity eroded
Book equity 2.74m NOK → 1.47m NOK (equity ratio 11.5% → 7.9%). Calculated
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↓
Cash fell
Bank deposits 12.07m NOK → 5.43m NOK (-55.0% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 7.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 27.76m NOK → 6.35m NOK (-77.1% YoY). Calculated