7 SEAS TECHNOLOGY AS: årsregnskap 2019 vs 2018
Shrank 54% on revenue, stronger earnings
approved 2020-02-24; registry 2020-03-14; journal 2020 241293
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for 7 SEAS TECHNOLOGY AS. Revenue 873.3k NOK → 397.6k NOK (-54.5%). Net result +51.1k NOK → +22.26m NOK. Equity 539.5k NOK → 21.40m NOK.
On the constructive side: net result improved; equity strengthened; cash rose. Pressures included: revenue fell; operating result weakened.
Also worth watching: book investments changed. All figures are taken from the published annual accounts for 7 SEAS TECHNOLOGY AS.
At a glance
Scorecard
What improved
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Net result improved
Net result +51.1k NOK → +22.26m NOK (net margin 5.8% → 5598.0%). Calculated
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Equity strengthened
Book equity 539.5k NOK → 21.40m NOK (equity ratio 447.4% → 89.9%). Calculated
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Cash rose
Bank deposits 69.8k NOK → 22.55m NOK (+32218.2% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.26× → 57.33×. Calculated
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Payroll decreased
Salary cost 136.0k NOK → 3 271 NOK (16% → 1% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 873.3k NOK to 397.6k NOK (-54.5% YoY). Calculated
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Operating result weakened
Operating result +555.5k NOK → -71.8k NOK (op. margin 63.6% → -18.0%). Calculated
Things to notice
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Book investments changed
Investment / intangible book value 970.6k NOK → 492.7k NOK. Reported fact