ABBAS GRUPPEN AS: årsregnskap 2020 vs 2019
Shrank 11% on revenue, weaker earnings
approved 2020-12-31; registry 2021-09-06; journal 2021 728270
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ABBAS GRUPPEN AS. Revenue 2.56m NOK → 2.27m NOK (-11.2%). Net result -76.2k NOK → -434.9k NOK. Equity -295.0k NOK → -729.9k NOK.
On the constructive side: cash rose; current ratio back above 1×; payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ABBAS GRUPPEN AS.
At a glance
Scorecard
What improved
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Cash rose
Bank deposits 254.7k NOK → 513.3k NOK (+101.5% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.35× → 1.04×. Calculated
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Payroll decreased
Salary cost 838.4k NOK → 2 NOK (33% → 0% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 2.56m NOK to 2.27m NOK (-11.2% YoY). Calculated
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Operating result weakened
Operating result -65.0k NOK → -439.3k NOK (op. margin -2.5% → -19.3%). Calculated
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Net result weakened
Net result -76.2k NOK → -434.9k NOK (net margin -3.0% → -19.1%). Calculated
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Equity eroded
Book equity -295.0k NOK → -729.9k NOK (equity ratio -46.2% → -87.9%). Calculated
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COGS moved
COGS / varekostnad 814.6k NOK → 926.1k NOK (+13.7% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -87.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation