ABIA AS: årsregnskap 2011 vs 2010
Shrank 41% on revenue, weaker earnings
approved 2012-07-12; registry 2012-07-30; journal 2012 570574
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ABIA AS. Revenue 807.9k NOK → 476.6k NOK (-41.0%). Net result -56.9k NOK → -252.3k NOK. Equity 43.9k NOK → -208.4k NOK.
On the constructive side: cash rose. 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 ABIA AS.
At a glance
Scorecard
What improved
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↑
Cash rose
Bank deposits 39.5k NOK → 119.3k NOK (+202.0% YoY). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 807.9k NOK to 476.6k NOK (-41.0% YoY). Calculated
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↓
Operating result weakened
Operating result -82.8k NOK → -349.6k NOK (op. margin -10.2% → -73.4%). Calculated
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↓
Net result weakened
Net result -56.9k NOK → -252.3k NOK (net margin -7.0% → -52.9%). Calculated
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↓
Equity eroded
Book equity 43.9k NOK → -208.4k NOK (equity ratio 9.0% → -46.4%). Calculated
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↓
Payroll up without matching revenue
Salary cost 1 454 NOK → 531.7k NOK (0% → 112% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -46.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation