7 STEEL SERVICE NORWAY AS: årsregnskap 2011 vs 2010
Grew 20% on revenue, returned to profit, cash halved-plus
approved 2012-04-18; registry 2012-05-16; journal 2012 378137
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for 7 STEEL SERVICE NORWAY AS. Revenue 617.18m NOK → 738.81m NOK (+19.7%). Net result -16.06m NOK → +21.56m NOK. Equity 65.89m NOK → 87.45m NOK.
On the constructive side: revenue rose; turned profitable; equity strengthened. Pressures included: cash fell.
Also worth watching: sharp cash drawdown; payroll increased; cogs moved. All figures are taken from the published annual accounts for 7 STEEL SERVICE NORWAY AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 617.18m NOK to 738.81m NOK (+19.7% YoY). Calculated
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↑
Turned profitable
Net result flipped from a loss of 16.06m NOK to a profit of 21.56m NOK. Calculated
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↑
Equity strengthened
Book equity 65.89m NOK → 87.45m NOK (equity ratio 18.7% → 31.1%). Calculated
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↑
Current ratio back above 1×
Current ratio 0.97× → 1.18×. Calculated
What deteriorated
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↓
Cash fell
Bank deposits 75.86m NOK → 2.76m NOK (-96.4% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (75.86m NOK → 2.76m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Payroll increased
Salary cost 73.56m NOK → 79.92m NOK (12% → 11% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 457.87m NOK → 514.87m NOK (+12.5% YoY). Calculated