A1 SECURITY AS: årsregnskap 2010 vs 2009
Grew 31% on revenue, weaker earnings
approved 2011-06-29; registry 2011-07-25; journal 2011 537416
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for A1 SECURITY AS. Revenue 4.62m NOK → 6.07m NOK (+31.3%). Net result +107.6k NOK → +37.3k NOK. Equity -66.3k NOK → -103.6k NOK.
On the constructive side: revenue rose; cash rose; payroll decreased. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs moved. All figures are taken from the published annual accounts for A1 SECURITY AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 4.62m NOK to 6.07m NOK (+31.3% YoY). Calculated
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↑
Cash rose
Bank deposits 114.6k NOK → 118.5k NOK (+3.4% YoY). Calculated
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↑
Payroll decreased
Salary cost 2.10m NOK → 2 NOK (46% → 0% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +197.9k NOK → +47.6k NOK (op. margin 4.3% → 0.8%). Calculated
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↓
Net result weakened
Net result +107.6k NOK → +37.3k NOK (net margin 2.3% → 0.6%). Calculated
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↓
Equity eroded
Book equity -66.3k NOK → -103.6k NOK (equity ratio -5.0% → -7.7%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 16.81× → 0.59× — 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 -7.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS moved
COGS / varekostnad 413.5k NOK → 457.0k NOK (+10.5% YoY). Calculated