A.K. DRIFT AS: årsregnskap 2008 vs 2007
Shrank 5% on revenue, weaker earnings
approved 2009-09-28; registry 2009-10-05
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for A.K. DRIFT AS. Revenue 9.63m NOK → 9.15m NOK (-5.0%). Net result -376.9k NOK → -491.0k NOK. Equity -434.0k NOK → -925.0k NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for A.K. DRIFT AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 615.7k NOK → 480.4k NOK (6% → 5% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 9.63m NOK to 9.15m NOK (-5.0% YoY). Calculated
-
↓
Operating result weakened
Operating result -154.1k NOK → -386.6k NOK (op. margin -1.6% → -4.2%). Calculated
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↓
Net result weakened
Net result -376.9k NOK → -491.0k NOK (net margin -3.9% → -5.4%). Calculated
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↓
Equity eroded
Book equity -434.0k NOK → -925.0k NOK (equity ratio -16.3% → -74.8%). Calculated
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↓
COGS moved
COGS / varekostnad 7.68m NOK → 7.68m NOK (+0.1% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -74.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation