A/S Spilka Industri: årsregnskap 2004 vs 2003
Grew 9% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for A/S Spilka Industri. Revenue 105.83m NOK → 115.40m NOK (+9.0%). Net result 0 NOK → +26.80m NOK. Equity 82.87m NOK → 64.91m NOK.
On the constructive side: revenue rose; net result improved. Pressures included: operating result weakened; equity eroded; current ratio dropped below 1×.
Also worth watching: cogs moved; book investments changed. All figures are taken from the published annual accounts for A/S Spilka Industri.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 105.83m NOK to 115.40m NOK (+9.0% YoY). Calculated
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↑
Net result improved
Net result 0 NOK → +26.80m NOK (net margin 0.0% → 23.2%). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +15.53m NOK → +15.06m NOK (op. margin 14.7% → 13.1%). Calculated
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↓
Equity eroded
Book equity 82.87m NOK → 64.91m NOK (equity ratio 67.0% → 47.6%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1437.74× → 0.83× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
COGS moved
COGS / varekostnad 27.19m NOK → 33.37m NOK (+22.7% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 46.28m NOK → 51.04m NOK. Reported fact