A/S Ariel: årsregnskap 2004 vs 2003
Shrank 17% on revenue
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for A/S Ariel. Revenue 13.8k NOK → 11.5k NOK (-16.7%). Equity -40.1k NOK → -55.8k NOK.
On the constructive side: operating result improved. Pressures included: revenue fell; equity eroded.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for A/S Ariel.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -27.4k NOK → -15.7k NOK (op. margin -198.7% → -136.6%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 13.8k NOK to 11.5k NOK (-16.7% YoY). Calculated
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↓
Equity eroded
Book equity -40.1k NOK → -55.8k NOK (equity ratio -108.7% → -165.3%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -165.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 12.7k NOK → 5 838 NOK (-54.0% YoY). Calculated