A MARINE AS: årsregnskap 2009 vs 2008
Shrank 34% on revenue, cash halved-plus
approved 2010-06-30; registry 2010-09-01; journal 2010 673221
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for A MARINE AS. Revenue 464.7k NOK → 305.4k NOK (-34.3%). Equity -587.8k NOK → -451.8k NOK.
On the constructive side: operating result improved; equity strengthened; payroll decreased. Pressures included: revenue fell; cash fell; current ratio dropped below 1×.
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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↑
Operating result improved
Operating result -70.9k NOK → +133.8k NOK (op. margin -15.3% → 43.8%). Calculated
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↑
Equity strengthened
Book equity -587.8k NOK → -451.8k NOK (equity ratio -333.7% → -1493.0%). Calculated
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↑
Payroll decreased
Salary cost 113.2k NOK → 51.3k NOK (24% → 17% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 464.7k NOK to 305.4k NOK (-34.3% YoY). Calculated
-
↓
Cash fell
Bank deposits 176.1k NOK → 17.2k NOK (-90.2% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 2.12× → 0.59× — 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 -1493.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation