A/S SørMek: årsregnskap 2003 vs 2002
Shrank 10% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A/S SørMek. Revenue 17.85m NOK → 16.06m NOK (-10.0%). Net result +926.4k NOK → +645.0k NOK. Equity 2.60m NOK → 769.0k NOK.
On the constructive side: operating result improved; cash rose; payroll decreased. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: cogs fell. All figures are taken from the published annual accounts for A/S SørMek.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +498.0k NOK → +1.03m NOK (op. margin 2.8% → 6.4%). Calculated
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↑
Cash rose
Bank deposits 245.9k NOK → 266.0k NOK (+8.2% YoY). Calculated
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↑
Payroll decreased
Salary cost 5.29m NOK → 4.76m NOK (30% → 30% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 17.85m NOK to 16.06m NOK (-10.0% YoY). Calculated
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↓
Net result weakened
Net result +926.4k NOK → +645.0k NOK (net margin 5.2% → 4.0%). Calculated
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↓
Equity eroded
Book equity 2.60m NOK → 769.0k NOK (equity ratio 33.9% → 10.0%). Calculated
Things to notice
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·
COGS fell
COGS / varekostnad 9.24m NOK → 8.27m NOK (-10.4% YoY). Calculated