A HELLAND TRANSPORT AS: årsregnskap 2003 vs 2002
Shrank 100% on revenue, stronger earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A HELLAND TRANSPORT AS. Revenue 819.3k NOK → 1 471 NOK (-99.8%). Net result +17.5k NOK → +206.1k NOK. Equity 44.0k NOK → 162.1k NOK.
On the constructive side: operating result improved; net result improved; equity strengthened. Pressures included: revenue fell; cash fell; current ratio dropped below 1×.
Also worth watching: thin equity buffer; sharp cash drawdown. All figures are taken from the published annual accounts for A HELLAND TRANSPORT AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +144.3k NOK → +619.5k NOK (op. margin 17.6% → 42111.7%). Calculated
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Net result improved
Net result +17.5k NOK → +206.1k NOK (net margin 2.1% → 14013.4%). Calculated
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Equity strengthened
Book equity 44.0k NOK → 162.1k NOK (equity ratio 5.7% → 2.5%). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 819.3k NOK to 1 471 NOK (-99.8% YoY). Calculated
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Cash fell
Bank deposits 8.15m NOK → 8 154 NOK (-99.9% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.29× → 0.89× — 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 2.5% 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 (8.15m NOK → 8 154 NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation