79 DEGREES SOUTH AS: årsregnskap 2010 vs 2009
Shrank 91% on revenue, stronger earnings
approved 2011-03-15; registry 2011-03-22; journal 2011 317082
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for 79 DEGREES SOUTH AS. Revenue 1.25m NOK → 116.1k NOK (-90.7%). Net result -146.4k NOK → -63.0k NOK. Equity 141.0k NOK → 78.0k NOK.
On the constructive side: net result improved; payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 79 DEGREES SOUTH AS.
At a glance
Scorecard
What improved
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↑
Net result improved
Net result -146.4k NOK → -63.0k NOK (net margin -11.7% → -54.3%). Calculated
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↑
Payroll decreased
Salary cost 4.25m NOK → 166.0k NOK (339% → 143% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 1.25m NOK to 116.1k NOK (-90.7% YoY). Calculated
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↓
Operating result weakened
Operating result -91.8k NOK → -97.7k NOK (op. margin -7.3% → -84.1%). Calculated
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↓
Equity eroded
Book equity 141.0k NOK → 78.0k NOK (equity ratio 66.8% → 0.1%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation