A MARINE AS: årsregnskap 2008 vs 2007
Mixed movements in the accounts
approved 2009-08-26; registry 2009-09-07
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for A MARINE AS. Revenue 468.9k NOK → 464.7k NOK (-0.9%). Equity -517.2k NOK → -587.8k NOK.
On the constructive side: cash rose; current ratio back above 1×; payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for A MARINE AS.
At a glance
Scorecard
What improved
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↑
Cash rose
Bank deposits 120.6k NOK → 176.1k NOK (+46.1% YoY). Calculated
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↑
Current ratio back above 1×
Current ratio 0.68× → 2.12×. Calculated
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↑
Payroll decreased
Salary cost 225.6k NOK → 113.2k NOK (48% → 24% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 468.9k NOK to 464.7k NOK (-0.9% YoY). Calculated
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↓
Operating result weakened
Operating result +74.6k NOK → -70.9k NOK (op. margin 15.9% → -15.3%). Calculated
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↓
Equity eroded
Book equity -517.2k NOK → -587.8k NOK (equity ratio -213.9% → -333.7%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -333.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation