A NIELSEN TRAFIKKSKOLE AS: årsregnskap 2012 vs 2011
Grew 20% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2012 with 2011 for A NIELSEN TRAFIKKSKOLE AS. Revenue 3.33m NOK → 3.99m NOK (+19.9%). Net result +181.6k NOK → +385.9k NOK. Equity 860.2k NOK → 146.1k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for A NIELSEN TRAFIKKSKOLE AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 3.33m NOK to 3.99m NOK (+19.9% YoY). Calculated
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Operating result improved
Operating result +300.8k NOK → +519.1k NOK (op. margin 9.0% → 13.0%). Calculated
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Net result improved
Net result +181.6k NOK → +385.9k NOK (net margin 5.5% → 9.7%). Calculated
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Current ratio back above 1×
Current ratio 0.16× → 8.02×. Calculated
What deteriorated
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↓
Equity eroded
Book equity 860.2k NOK → 146.1k NOK (equity ratio 42.8% → 4.9%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 4.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 1.46m NOK → 1.75m NOK (44% → 44% of revenue). Calculated
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COGS moved
COGS / varekostnad 209.9k NOK → 275.6k NOK (+31.3% YoY). Calculated
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Book investments changed
Investment / intangible book value 77.7k NOK → 37.1k NOK. Reported fact