A&B ELEKTRO INSTALLASJON AS: årsregnskap 2003 vs 2002
Grew 77% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A&B ELEKTRO INSTALLASJON AS. Revenue 508.8k NOK → 898.5k NOK (+76.6%). Net result +197.9k NOK → +71.9k NOK. Equity 82.8k NOK → 10.9k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs moved. All figures are taken from the published annual accounts for A&B ELEKTRO INSTALLASJON AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 508.8k NOK to 898.5k NOK (+76.6% YoY). Calculated
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↑
Payroll decreased
Salary cost 129.8k NOK → 10.3k NOK (26% → 1% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +184.9k NOK → +88.4k NOK (op. margin 36.3% → 9.8%). Calculated
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↓
Net result weakened
Net result +197.9k NOK → +71.9k NOK (net margin 38.9% → 8.0%). Calculated
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↓
Equity eroded
Book equity 82.8k NOK → 10.9k NOK (equity ratio 15.1% → 2.0%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 2.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS moved
COGS / varekostnad 217.8k NOK → 441.6k NOK (+102.7% YoY). Calculated