A STI HOLDING AS: årsregnskap 2004 vs 2003
Stronger earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for A STI HOLDING AS. Net result +80.0k NOK → +1.25m NOK. Equity 1.18m NOK → 199.3k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for A STI HOLDING AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +51.8k NOK → +44.16bn NOK. Calculated
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↑
Net result improved
Net result +80.0k NOK → +1.25m NOK. Calculated
What deteriorated
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↓
Equity eroded
Book equity 1.18m NOK → 199.3k NOK (equity ratio 15.4% → 2.4%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.10× → 0.91× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 2.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 3.28m NOK → 0 NOK. Reported fact