A G KJØSTVEDT AS: årsregnskap 2003 vs 2002
Grew 11% on revenue, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A G KJØSTVEDT AS. Revenue 6.70m NOK → 7.46m NOK (+11.4%). Net result +661.1k NOK → +606.7k NOK. Equity 947.4k NOK → 54.1k NOK.
On the constructive side: revenue rose; operating result improved; owners injected capital. Pressures included: net result weakened; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for A G KJØSTVEDT AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 6.70m NOK to 7.46m NOK (+11.4% YoY). Calculated
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↑
Operating result improved
Operating result +125.1k NOK → +964.1k NOK (op. margin 1.9% → 12.9%). Calculated
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Owners injected capital
Paid-in equity rose 50.0k NOK → 100.0k NOK (+50.0k NOK). Reported fact
What deteriorated
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↓
Net result weakened
Net result +661.1k NOK → +606.7k NOK (net margin 9.9% → 8.1%). Calculated
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↓
Equity eroded
Book equity 947.4k NOK → 54.1k NOK (equity ratio 23.0% → 1.0%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.12× → 0.77× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is 1.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 1.55m NOK → 1.83m NOK (23% → 25% of revenue). Calculated
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COGS moved
COGS / varekostnad 3.03m NOK → 3.51m NOK (+16.0% YoY). Calculated