A C SMITH & CO AS: årsregnskap 2014 vs 2013
Shrank 19% on revenue, cash halved-plus
approved 2015-06-30; registry 2015-09-12; journal 2015 822906
Summary
What changed
Comparing Årsregnskap 2014 with 2013 for A C SMITH & CO AS. Revenue 83.25m NOK → 67.57m NOK (-18.8%). Equity 26.52m NOK → 34.48m NOK.
On the constructive side: equity strengthened. Pressures included: revenue fell; operating result weakened; cash fell.
Also worth watching: sharp cash drawdown; cogs fell; book investments changed. All figures are taken from the published annual accounts for A C SMITH & CO AS.
At a glance
Scorecard
What improved
-
↑
Equity strengthened
Book equity 26.52m NOK → 34.48m NOK (equity ratio 57.2% → 65.8%). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 83.25m NOK to 67.57m NOK (-18.8% YoY). Calculated
-
↓
Operating result weakened
Operating result +7.68m NOK → +4.77m NOK (op. margin 9.2% → 7.1%). Calculated
-
↓
Cash fell
Bank deposits 28.69m NOK → 9.88m NOK (-65.6% YoY). Calculated
-
↓
Payroll up without matching revenue
Salary cost 17.17m NOK → 18.11m NOK (21% → 27% of revenue). Calculated
Things to notice
-
·
Sharp cash drawdown
Cash fell by more than 60% YoY (28.69m NOK → 9.88m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
-
·
COGS fell
COGS / varekostnad 54.28m NOK → 40.50m NOK (-25.4% YoY). Calculated
-
·
Book investments changed
Investment / intangible book value 3 680 NOK → 11.7k NOK. Reported fact