70 NORDVEKST AS: årsregnskap 2004 vs 2003
Grew 6% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for 70 NORDVEKST AS. Revenue 3.50m NOK → 3.70m NOK (+5.8%). Net result +221.8k NOK → +538.2k NOK. Equity 172.9k NOK → 365.3k NOK.
On the constructive side: revenue rose; operating result improved; net result improved.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for 70 NORDVEKST AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 3.50m NOK to 3.70m NOK (+5.8% YoY). Calculated
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Operating result improved
Operating result +297.6k NOK → +304.9k NOK (op. margin 8.5% → 8.2%). Calculated
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Net result improved
Net result +221.8k NOK → +538.2k NOK (net margin 6.3% → 14.5%). Calculated
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Equity strengthened
Book equity 172.9k NOK → 365.3k NOK (equity ratio 17.3% → 4.0%). Calculated
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Current ratio back above 1×
Current ratio 0.55× → 2.46×. Calculated
Things to notice
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Thin equity buffer
Equity ratio is 4.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 829.9k NOK → 543.6k NOK (-34.5% YoY). Calculated