A/S Voldsminde VII: årsregnskap 2003 vs 2002
Shrank 17% on revenue, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A/S Voldsminde VII. Revenue 458.55bn NOK → 379.91bn NOK (-17.1%). Equity -603.1k NOK → -610.3k NOK.
On the constructive side: operating result improved. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for A/S Voldsminde VII.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +35.99bn NOK → +68.09bn NOK (op. margin 7.8% → 17.9%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 458.55bn NOK to 379.91bn NOK (-17.1% YoY). Calculated
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↓
Equity eroded
Book equity -603.1k NOK → -610.3k NOK (equity ratio -83.0% → -91.7%). Calculated
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↓
Cash fell
Bank deposits 320.7k NOK → 144.2k NOK (-55.0% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -91.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation