929 PRODUKSJON AS: årsregnskap 2003 vs 2002
Shrank 76% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for 929 PRODUKSJON AS. Revenue 939.7k NOK → 222.2k NOK (-76.4%). Net result +11.0k NOK → +63.7k NOK. Equity 106.4k NOK → 100.0k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Net tougher year on the published lines.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +18.9k NOK → +86.8k NOK (op. margin 2.0% → 39.1%). Calculated
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↑
Net result improved
Net result +11.0k NOK → +63.7k NOK (net margin 1.2% → 28.6%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 939.7k NOK to 222.2k NOK (-76.4% YoY). Calculated
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↓
Equity eroded
Book equity 106.4k NOK → 100.0k NOK (equity ratio 41.1% → 35.8%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.08× → 0.88× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 428.8k NOK → 457.5k NOK (46% → 206% of revenue). Calculated
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↓
COGS moved
COGS / varekostnad 0 NOK → 6 556 NOK (None YoY). Calculated