ABENA NORGE AS: årsregnskap 2011 vs 2010
Shrank 8% on revenue, cash halved-plus
approved 2011-06-27; registry 2011-07-12; journal 2011 492006
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ABENA NORGE AS. Revenue 55.21m NOK → 50.92m NOK (-7.8%). Equity 4.76m NOK → 5.86m NOK.
On the constructive side: equity strengthened. Pressures included: revenue fell; cash fell; current ratio dropped below 1×.
Also worth watching: sharp cash drawdown; 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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↑
Equity strengthened
Book equity 4.76m NOK → 5.86m NOK (equity ratio 25.4% → 55.0%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 55.21m NOK to 50.92m NOK (-7.8% YoY). Calculated
-
↓
Cash fell
Bank deposits 7.95m NOK → 906.3k NOK (-88.6% YoY). Calculated
-
↓
Current ratio dropped below 1×
Current ratio 1.32× → 0.19× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
-
↓
Payroll up without matching revenue
Salary cost 5.11m NOK → 5.87m NOK (9% → 12% of revenue). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (7.95m NOK → 906.3k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
-
·
COGS fell
COGS / varekostnad 44.15m NOK → 39.07m NOK (-11.5% YoY). Calculated