A M HANSEN MASKINERING AS: årsregnskap 2003 vs 2002
Shrank 29% on revenue, returned to profit, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A M HANSEN MASKINERING AS. Revenue 2.50m NOK → 1.78m NOK (-28.8%). Net result -32.0k NOK → +113.5k NOK. Equity 3 081 NOK → 110.5k NOK.
On the constructive side: operating result improved; turned profitable; equity strengthened. Pressures included: revenue fell; cash fell; current ratio dropped below 1×.
Also worth watching: cogs fell; book investments changed. All figures are taken from the published annual accounts for A M HANSEN MASKINERING AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +27.2k NOK → +107.1k NOK (op. margin 1.1% → 6.0%). Calculated
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Turned profitable
Net result flipped from a loss of 32.0k NOK to a profit of 113.5k NOK. Calculated
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Equity strengthened
Book equity 3 081 NOK → 110.5k NOK (equity ratio 0.4% → 18.4%). Calculated
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Payroll decreased
Salary cost 918.0k NOK → 4 NOK (37% → 0% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 2.50m NOK to 1.78m NOK (-28.8% YoY). Calculated
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Cash fell
Bank deposits 81.0k NOK → 3 815 NOK (-95.3% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.22× → 0.79× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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COGS fell
COGS / varekostnad 757.3k NOK → 557.0k NOK (-26.5% YoY). Calculated
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Book investments changed
Investment / intangible book value 52.1k NOK → 3 000 NOK. Reported fact