A/S SørMek: årsregnskap 2004 vs 2003
Slipped into loss
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for A/S SørMek. Revenue 16.06m NOK → 16.05m NOK (-0.1%). Net result +645.0k NOK → -619.5k NOK. Equity 769.0k NOK → 149.5k NOK.
Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for A/S SørMek.
At a glance
Scorecard
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 16.06m NOK to 16.05m NOK (-0.1% YoY). Calculated
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↓
Operating result weakened
Operating result +1.03m NOK → -577.5k NOK (op. margin 6.4% → -3.6%). Calculated
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↓
Fell into a net loss
Net result flipped from 645.0k NOK profit to a loss of 619.5k NOK. Calculated
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↓
Equity eroded
Book equity 769.0k NOK → 149.5k NOK (equity ratio 10.0% → 1.8%). Calculated
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↓
Cash fell
Bank deposits 266.0k NOK → 264.6k NOK (-0.5% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 1.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 1 NOK → 10.0k NOK. Reported fact