A. HANSEN GRUPPEN AS: årsregnskap 2014 vs 2013
Grew 32% on revenue, weaker earnings, cash halved-plus
approved 2015-09-01; registry 2015-10-07; journal 2015 921278
Summary
What changed
Comparing Årsregnskap 2014 with 2013 for A. HANSEN GRUPPEN AS. Revenue 36.00m NOK → 47.63m NOK (+32.3%). Net result +303.4k NOK → +161.3k NOK. Equity -1.78m NOK → -6.94m NOK.
On the constructive side: revenue rose. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; sharp cash drawdown; payroll increased. All figures are taken from the published annual accounts for A. HANSEN GRUPPEN AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 36.00m NOK to 47.63m NOK (+32.3% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +946.5k NOK → +193.5k NOK (op. margin 2.6% → 0.4%). Calculated
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↓
Net result weakened
Net result +303.4k NOK → +161.3k NOK (net margin 0.8% → 0.3%). Calculated
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↓
Equity eroded
Book equity -1.78m NOK → -6.94m NOK (equity ratio -13.0% → -60.1%). Calculated
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↓
Cash fell
Bank deposits 3.43m NOK → 1.07m NOK (-68.8% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.31× → 0.96× — 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 -60.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (3.43m NOK → 1.07m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Payroll increased
Salary cost 12.27m NOK → 16.56m NOK (34% → 35% of revenue). Calculated
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COGS moved
COGS / varekostnad 15.46m NOK → 26.06m NOK (+68.6% YoY). Calculated
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Book investments changed
Investment / intangible book value 375.0k NOK → 49.9k NOK. Reported fact