7 STEEL NORDIC MANUFACTURING AS: årsregnskap 2020 vs 2019
Stronger earnings
approved 2021-05-26; registry 2021-06-29; journal 2021 414004
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 7 STEEL NORDIC MANUFACTURING AS. Revenue 2.91bn NOK → 2.84bn NOK (-2.5%). Net result +14.57m NOK → +77.15m NOK. Equity 928.49m NOK → 928.5k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for 7 STEEL NORDIC MANUFACTURING AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +45.29m NOK → +137.65m NOK (op. margin 1.6% → 4.9%). Calculated
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Net result improved
Net result +14.57m NOK → +77.15m NOK (net margin 0.5% → 2.7%). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 2.91bn NOK to 2.84bn NOK (-2.5% YoY). Calculated
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Equity eroded
Book equity 928.49m NOK → 928.5k NOK (equity ratio 48.9% → 0.0%). Calculated
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Cash fell
Bank deposits 11.05m NOK → 10.95m NOK (-1.0% YoY). Calculated
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Payroll up without matching revenue
Salary cost 19.26m NOK → 19.27m NOK (1% → 1% of revenue). Calculated
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COGS moved
COGS / varekostnad 3.90m NOK → 1.81bn NOK (+46179.5% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Book investments changed
Investment / intangible book value 641 NOK → 8 229 NOK. Reported fact