7 STEEL SERVICE NORWAY AS: årsregnskap 2023 vs 2022
Shrank 22% on revenue, slipped into loss
approved 2024-04-25; registry 2024-06-05; journal 2024 422443
Summary
What changed
Comparing Årsregnskap 2023 with 2022 for 7 STEEL SERVICE NORWAY AS. Revenue 1.64bn NOK → 1.27bn NOK (-22.4%). Net result +3.31m NOK → -73.68m NOK. Equity 102.05m NOK → 28.37m NOK.
On the constructive side: current ratio back above 1×. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer; book investments changed. 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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↑
Current ratio back above 1×
Current ratio 0.82× → 607.99×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 1.64bn NOK to 1.27bn NOK (-22.4% YoY). Calculated
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↓
Operating result weakened
Operating result +28.42m NOK → -31.60m NOK (op. margin 1.7% → -2.5%). Calculated
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↓
Fell into a net loss
Net result flipped from 3.31m NOK profit to a loss of 73.68m NOK. Calculated
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↓
Equity eroded
Book equity 102.05m NOK → 28.37m NOK (equity ratio 13204.7% → 3.7%). Calculated
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↓
Cash fell
Bank deposits 6.04m NOK → 5.63m NOK (-6.8% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 3.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 0 NOK → 8 310 NOK. Reported fact