7OCEAN HOLDING AS: årsregnskap 2020 vs 2019
Shrank 29% on revenue, weaker earnings
approved 2021-06-02; registry 2021-06-21; journal 2021 456313
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 7OCEAN HOLDING AS. Revenue 820.0k NOK → 584.4k NOK (-28.7%). Net result -4 256 NOK → -23.3k NOK. Equity 93.7k NOK → 70.4k NOK.
On the constructive side: operating result improved; cash rose. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: thin equity buffer; paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for 7OCEAN HOLDING AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -28.3k NOK → +5 705 NOK (op. margin -3.4% → 1.0%). Calculated
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Cash rose
Bank deposits 109.5k NOK → 141.9k NOK (+29.6% YoY). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 820.0k NOK to 584.4k NOK (-28.7% YoY). Calculated
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Net result weakened
Net result -4 256 NOK → -23.3k NOK (net margin -0.5% → -4.0%). Calculated
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Equity eroded
Book equity 93.7k NOK → 70.4k NOK (equity ratio 18.5% → 10.0%). Calculated
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Current ratio dropped below 1×
Current ratio 1.02× → 0.69× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 2 416 NOK → 570.2k NOK (0% → 98% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 10.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Paid-in equity reduced
Paid-in equity fell 116.5k NOK → 70.4k NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 46.5k NOK → 5 123 NOK (-89.0% YoY). Calculated
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Book investments changed
Investment / intangible book value 150.0k NOK → 120.0k NOK. Reported fact