7 STEEL NORDIC REINFORCING AS: årsregnskap 2003 vs 2002
Shrank 19% on revenue, stronger earnings, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for 7 STEEL NORDIC REINFORCING AS. Revenue 7 394 NOK → 6 000 NOK (-18.9%). Net result +77 NOK → +94.66m NOK. Equity 591.08m NOK → 590.42m NOK.
On the constructive side: net result improved; owners injected capital. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: book investments changed. All figures are taken from the published annual accounts for 7 STEEL NORDIC REINFORCING AS.
At a glance
Scorecard
What improved
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Net result improved
Net result +77 NOK → +94.66m NOK (net margin 1.0% → 1577683.3%). Calculated
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Owners injected capital
Paid-in equity rose 74.3k NOK → 74.30m NOK (+74.22m NOK). Reported fact
What deteriorated
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Revenue fell
Operating income / revenue moved from 7 394 NOK to 6 000 NOK (-18.9% YoY). Calculated
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Operating result weakened
Operating result -102 NOK → -2.65m NOK (op. margin -1.4% → -44183.3%). Calculated
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Equity eroded
Book equity 591.08m NOK → 590.42m NOK. Calculated
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Payroll up without matching revenue
Salary cost 4 122 NOK → 3.25m NOK (56% → 54250% of revenue). Calculated
Things to notice
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Book investments changed
Investment / intangible book value 579.7k NOK → 579.70m NOK. Reported fact