ABC METALL AS: årsregnskap 2004 vs 2003
Shrank 61% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ABC METALL AS. Revenue 2.39m NOK → 942.8k NOK (-60.6%). Net result +426.4k NOK → +542.4k NOK. Equity 155.6k NOK → 143.9k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ABC METALL AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +559.9k NOK → +765.4k NOK (op. margin 23.4% → 81.2%). Calculated
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Net result improved
Net result +426.4k NOK → +542.4k NOK (net margin 17.8% → 57.5%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.39m NOK to 942.8k NOK (-60.6% YoY). Calculated
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↓
Equity eroded
Book equity 155.6k NOK → 143.9k NOK (equity ratio 83.5% → 10.0%). Calculated
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Cash fell
Bank deposits 505.9k NOK → 485.4k NOK (-4.1% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 10.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 190.5k NOK → 30.2k NOK (-84.2% YoY). Calculated