A12 EIENDOM AS: årsregnskap 2019 vs 2018
Grew 14% on revenue, weaker earnings, cash halved-plus
approved 2020-03-04; registry 2020-06-18; journal 2020 451214
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for A12 EIENDOM AS. Revenue 3.33m NOK → 3.81m NOK (+14.4%). Net result +395.8k NOK → +282.9k NOK. Equity 5.46m NOK → 5.07m NOK.
On the constructive side: revenue rose; operating result improved; payroll decreased. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: sharp cash drawdown. All figures are taken from the published annual accounts for A12 EIENDOM AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 3.33m NOK to 3.81m NOK (+14.4% YoY). Calculated
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Operating result improved
Operating result +1.44m NOK → +2.11m NOK (op. margin 43.2% → 55.4%). Calculated
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Payroll decreased
Salary cost 220.0k NOK → 100.0k NOK (7% → 3% of revenue). Calculated
What deteriorated
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Net result weakened
Net result +395.8k NOK → +282.9k NOK (net margin 11.9% → 7.4%). Calculated
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↓
Equity eroded
Book equity 5.46m NOK → 5.07m NOK (equity ratio 17.8% → 19.0%). Calculated
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Cash fell
Bank deposits 3.69m NOK → 1.40m NOK (-61.9% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (3.69m NOK → 1.40m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation