A.J. DESIGN AS: årsregnskap 2003 vs 2002
Grew 24% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A.J. DESIGN AS. Revenue 2.10m NOK → 2.60m NOK (+23.7%). Net result +194.5k NOK → +475.4k NOK. Equity 307.4k NOK → 282.7k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: payroll increased. All figures are taken from the published annual accounts for A.J. DESIGN AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 2.10m NOK to 2.60m NOK (+23.7% YoY). Calculated
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↑
Operating result improved
Operating result +264.4k NOK → +651.3k NOK (op. margin 12.6% → 25.0%). Calculated
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↑
Net result improved
Net result +194.5k NOK → +475.4k NOK (net margin 9.2% → 18.3%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 307.4k NOK → 282.7k NOK (equity ratio 24.7% → 16.9%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.29× → 0.99× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Payroll increased
Salary cost 1.26m NOK → 1.48m NOK (60% → 57% of revenue). Calculated