A'HEAD EXECUTIVE AS: årsregnskap 2012 vs 2011
Grew 19% on revenue, stronger earnings
approved 2013-04-05; registry 2013-05-25; journal 2013 404751
Summary
What changed
Comparing Årsregnskap 2012 with 2011 for A'HEAD EXECUTIVE AS. Revenue 8.02m NOK → 9.53m NOK (+18.8%). Net result +756.3k NOK → +2.20m NOK. Equity 598.0k NOK → 98.4k NOK.
On the constructive side: revenue rose; net result improved; cash rose. Pressures included: operating result weakened; equity eroded.
Also worth watching: thin equity buffer; payroll increased; book investments changed. All figures are taken from the published annual accounts for A'HEAD EXECUTIVE AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 8.02m NOK to 9.53m NOK (+18.8% YoY). Calculated
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Net result improved
Net result +756.3k NOK → +2.20m NOK (net margin 9.4% → 23.1%). Calculated
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Cash rose
Bank deposits 2.18m NOK → 4.60m NOK (+111.3% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.91× → 1.08×. Calculated
What deteriorated
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↓
Operating result weakened
Operating result +994.2k NOK → +219.8k NOK (op. margin 12.4% → 2.3%). Calculated
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Equity eroded
Book equity 598.0k NOK → 98.4k NOK (equity ratio 12.8% → 1.6%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 1.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 2 011 NOK → 4.43m NOK (0% → 46% of revenue). Calculated
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Book investments changed
Investment / intangible book value 186.7k NOK → 35.9k NOK. Reported fact