50 DEGREES NORTH NORDIC AS: årsregnskap 2021 vs 2020
Grew 158% on revenue, returned to profit
registry 2022-07-23; journal 2022 686918
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for 50 DEGREES NORTH NORDIC AS. Revenue 8.67m NOK → 22.39m NOK (+158.1%). Net result -1.28m NOK → +9.63m NOK. Equity 1.47m NOK → 2.10m NOK.
On the constructive side: revenue rose; operating result improved; turned profitable.
Also worth watching: thin equity buffer; cogs moved. 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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Revenue rose
Operating income / revenue moved from 8.67m NOK to 22.39m NOK (+158.1% YoY). Calculated
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Operating result improved
Operating result -2.47m NOK → +1.77m NOK (op. margin -28.4% → 7.9%). Calculated
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Turned profitable
Net result flipped from a loss of 1.28m NOK to a profit of 9.63m NOK. Calculated
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Equity strengthened
Book equity 1.47m NOK → 2.10m NOK (equity ratio 7.9% → 5.8%). Calculated
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Cash rose
Bank deposits 5.43m NOK → 18.56m NOK (+242.0% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 5.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS moved
COGS / varekostnad 6.35m NOK → 14.48m NOK (+128.0% YoY). Calculated