A3 RESSURS HOLDING AS: årsregnskap 2003 vs 2002
Grew 18% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A3 RESSURS HOLDING AS. Revenue 5.37m NOK → 6.34m NOK (+18.0%). Net result +278 NOK → +626.7k NOK. Equity 527.0k NOK → 153.7k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for A3 RESSURS HOLDING AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 5.37m NOK to 6.34m NOK (+18.0% YoY). Calculated
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Operating result improved
Operating result +25.0k NOK → +612.1k NOK (op. margin 0.5% → 9.7%). Calculated
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↑
Net result improved
Net result +278 NOK → +626.7k NOK (net margin 0.0% → 9.9%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 527.0k NOK → 153.7k NOK (equity ratio 40.0% → 7.1%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 7.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 2 002 NOK → 22.0k NOK (0% → 0% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 195.7k NOK → 326.7k NOK (+66.9% YoY). Calculated