A & B JERNVARE AS: årsregnskap 2003 vs 2002
Stronger earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A & B JERNVARE AS. Revenue 4.27m NOK → 4.42m NOK (+3.4%). Net result +132.0k NOK → +473.1k NOK. Equity 172.2k NOK → 167.2k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; cash fell; current ratio dropped below 1×.
Also worth watching: payroll increased; cogs moved. All figures are taken from the published annual accounts for A & B JERNVARE AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 4.27m NOK to 4.42m NOK (+3.4% YoY). Calculated
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↑
Operating result improved
Operating result +209.4k NOK → +238.9k NOK (op. margin 4.9% → 5.4%). Calculated
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↑
Net result improved
Net result +132.0k NOK → +473.1k NOK (net margin 3.1% → 10.7%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 172.2k NOK → 167.2k NOK. Calculated
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↓
Cash fell
Bank deposits 101.0k NOK → 45.8k NOK (-54.7% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 2.44× → 0.06× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Payroll increased
Salary cost 822.5k NOK → 898.8k NOK (19% → 20% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 2.80m NOK → 2.84m NOK (+1.6% YoY). Calculated