67NORTH AS: årsregnskap 2009 vs 2008
Shrank 47% on revenue, weaker earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for 67NORTH AS. Revenue 660.8k NOK → 348.9k NOK (-47.2%). Net result +276.3k NOK → +183.5k NOK. Equity 376.3k NOK → 559.9k NOK.
On the constructive side: equity strengthened; payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: sharp cash drawdown; cogs fell. All figures are taken from the published annual accounts for 67NORTH AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity 376.3k NOK → 559.9k NOK (equity ratio 61.3% → 75.8%). Calculated
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↑
Payroll decreased
Salary cost 3.13m NOK → 67.8k NOK (474% → 19% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 660.8k NOK to 348.9k NOK (-47.2% YoY). Calculated
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↓
Operating result weakened
Operating result +379.1k NOK → +257.8k NOK (op. margin 57.4% → 73.9%). Calculated
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↓
Net result weakened
Net result +276.3k NOK → +183.5k NOK (net margin 41.8% → 52.6%). Calculated
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↓
Cash fell
Bank deposits 7.22m NOK → 316.5k NOK (-95.6% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (7.22m NOK → 316.5k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
COGS fell
COGS / varekostnad 122.6k NOK → 122 NOK (-99.9% YoY). Calculated