A/S Norske Shell: årsregnskap 2017 vs 2016
Grew 18% on revenue, stronger earnings, cash halved-plus
approved 2018-04-10; registry 2018-06-20; journal 2018 519139
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for A/S Norske Shell. Revenue 21.98bn NOK → 25.95bn NOK (+18.0%). Net result +1.76bn NOK → +3.17bn NOK. Equity 3.67bn NOK → 3.01bn NOK.
On the constructive side: revenue rose; net result improved. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; book investments changed. All figures are taken from the published annual accounts for A/S Norske Shell.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 21.98bn NOK to 25.95bn NOK (+18.0% YoY). Calculated
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↑
Net result improved
Net result +1.76bn NOK → +3.17bn NOK (net margin 8.0% → 12.2%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 3.67bn NOK → 3.01bn NOK (equity ratio 12.2% → 9.9%). Calculated
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↓
Cash fell
Bank deposits 228.00m NOK → 49.00m NOK (-78.5% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 9.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (228.00m NOK → 49.00m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Book investments changed
Investment / intangible book value 1.01m NOK → 992.00m NOK. Reported fact