AB ELEKTRISK AS: årsregnskap 2004 vs 2003
Grew 13% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for AB ELEKTRISK AS. Revenue 3.44m NOK → 3.89m NOK (+13.3%). Net result +219.2k NOK → +312.5k NOK. Equity 422.5k NOK → 340.1k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: payroll increased; cogs fell. All figures are taken from the published annual accounts for AB ELEKTRISK AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 3.44m NOK to 3.89m NOK (+13.3% YoY). Calculated
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↑
Operating result improved
Operating result +238.8k NOK → +443.9k NOK (op. margin 6.9% → 11.4%). Calculated
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↑
Net result improved
Net result +219.2k NOK → +312.5k NOK (net margin 6.4% → 8.0%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 422.5k NOK → 340.1k NOK (equity ratio 22.5% → 10.0%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.27× → 0.76× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Payroll increased
Salary cost 298.9k NOK → 1.55m NOK (9% → 40% of revenue). Calculated
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·
COGS fell
COGS / varekostnad 1.28m NOK → 1.14m NOK (-11.2% YoY). Calculated