A/S Katfos Fabrikker: årsregnskap 2003 vs 2002
Stronger earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A/S Katfos Fabrikker. Revenue 8.31m NOK → 8.45m NOK (+1.7%). Net result +1.54m NOK → +7.47m NOK. Equity 15.63m NOK → 10.33m NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; cash fell.
Also worth watching: paid-in equity reduced; book investments changed. All figures are taken from the published annual accounts for A/S Katfos Fabrikker.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 8.31m NOK to 8.45m NOK (+1.7% YoY). Calculated
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Operating result improved
Operating result +3.98m NOK → +7.98m NOK (op. margin 47.9% → 94.5%). Calculated
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Net result improved
Net result +1.54m NOK → +7.47m NOK (net margin 18.5% → 88.4%). Calculated
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Current ratio back above 1×
Current ratio 0.70× → 1.47×. Calculated
What deteriorated
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↓
Equity eroded
Book equity 15.63m NOK → 10.33m NOK (equity ratio 28.8% → 23.4%). Calculated
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↓
Cash fell
Bank deposits 657.3k NOK → 119.3k NOK (-81.8% YoY). Calculated
Things to notice
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·
Paid-in equity reduced
Paid-in equity fell 15.63m NOK → 10.33m NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
Book investments changed
Investment / intangible book value 206.5k NOK → 227.8k NOK. Reported fact