ABENA NORGE AS: årsregnskap 2008 vs 2007
Stronger earnings
approved 2008-06-30; registry 2008-08-14
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for ABENA NORGE AS. Revenue 52.19m NOK → 50.65m NOK (-2.9%). Net result +2.99m NOK → +3.94m NOK. Equity 3 186 NOK → -2.62m NOK.
On the constructive side: net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer; paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for ABENA NORGE AS.
At a glance
Scorecard
What improved
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Net result improved
Net result +2.99m NOK → +3.94m NOK (net margin 5.7% → 7.8%). Calculated
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Payroll decreased
Salary cost 6.87m NOK → 6.48m NOK (13% → 13% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 52.19m NOK to 50.65m NOK (-2.9% YoY). Calculated
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↓
Equity eroded
Book equity 3 186 NOK → -2.62m NOK (equity ratio 0.0% → -17.7%). Calculated
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↓
Cash fell
Bank deposits 2.58m NOK → 1.97m NOK (-23.6% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -17.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Paid-in equity reduced
Paid-in equity fell 0 NOK → -2.62m NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 43.74m NOK → 43.14m NOK (-1.4% YoY). Calculated