ABELSNES INVEST AS: årsregnskap 2010 vs 2009
Grew 49% on revenue, weaker earnings, cash halved-plus
approved 2011-07-21; registry 2011-07-25; journal 2011 537956
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for ABELSNES INVEST AS. Revenue 529.2k NOK → 789.2k NOK (+49.1%). Net result +247.3k NOK → +81.3k NOK. Equity 5.30m NOK → 377.5k NOK.
On the constructive side: revenue rose; operating result improved. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: thin equity buffer; payroll increased; book investments changed. All figures are taken from the published annual accounts for ABELSNES INVEST AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 529.2k NOK to 789.2k NOK (+49.1% YoY). Calculated
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↑
Operating result improved
Operating result +153.8k NOK → +218.7k NOK (op. margin 29.1% → 27.7%). Calculated
What deteriorated
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↓
Net result weakened
Net result +247.3k NOK → +81.3k NOK (net margin 46.7% → 10.3%). Calculated
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↓
Equity eroded
Book equity 5.30m NOK → 377.5k NOK (equity ratio 130.1% → 8.9%). Calculated
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↓
Cash fell
Bank deposits 275.6k NOK → 46.0k NOK (-83.3% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 8.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 13.3k NOK → 2.21m NOK (3% → 280% of revenue). Calculated
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·
Book investments changed
Investment / intangible book value 10.90m NOK → 10.91m NOK. Reported fact