ABACO SHIPPING AS: årsregnskap 2019 vs 2018
Shrank 23% on revenue, weaker earnings, cash halved-plus
approved 2020-06-25; registry 2020-07-30; journal 2020 627526
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ABACO SHIPPING AS. Revenue 1.99m NOK → 1.53m NOK (-22.8%). Net result +1.43m NOK → +1.09m NOK. Equity 9.17m NOK → 10.27m NOK.
On the constructive side: equity strengthened. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: sharp cash drawdown; book investments changed. All figures are taken from the published annual accounts for ABACO SHIPPING AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity 9.17m NOK → 10.27m NOK (equity ratio 25.8% → 30.6%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 1.99m NOK to 1.53m NOK (-22.8% YoY). Calculated
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↓
Operating result weakened
Operating result +1.88m NOK → +1.43m NOK (op. margin 94.6% → 93.5%). Calculated
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↓
Net result weakened
Net result +1.43m NOK → +1.09m NOK (net margin 72.2% → 71.3%). Calculated
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↓
Cash fell
Bank deposits 3.20m NOK → 53.7k NOK (-98.3% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (3.20m NOK → 53.7k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Book investments changed
Investment / intangible book value 5.76m NOK → 33.54m NOK. Reported fact