7OCEAN AS: årsregnskap 2022 vs 2021
Shrank 51% on revenue, slipped into loss, cash halved-plus
approved 2023-06-30; registry 2023-08-16; journal 2023 689221
Summary
What changed
Comparing Årsregnskap 2022 with 2021 for 7OCEAN AS. Revenue 28.09m NOK → 13.86m NOK (-50.7%). Net result +3.50m NOK → -458.5k NOK. Equity 1.24m NOK → 55.0k NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer; sharp cash drawdown. All figures are taken from the published annual accounts for 7OCEAN AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 21.06m NOK → 12.07m NOK (75% → 87% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 28.09m NOK to 13.86m NOK (-50.7% YoY). Calculated
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↓
Operating result weakened
Operating result +4.51m NOK → -435.3k NOK (op. margin 16.1% → -3.1%). Calculated
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↓
Fell into a net loss
Net result flipped from 3.50m NOK profit to a loss of 458.5k NOK. Calculated
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↓
Equity eroded
Book equity 1.24m NOK → 55.0k NOK (equity ratio 10.2% → 1.1%). Calculated
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↓
Cash fell
Bank deposits 5.77m NOK → 1.95m NOK (-66.2% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 1.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (5.77m NOK → 1.95m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation