ABILDSØ ELEKTRISKE AS: årsregnskap 2003 vs 2002
Shrank 24% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ABILDSØ ELEKTRISKE AS. Revenue 13.25m NOK → 10.11m NOK (-23.6%). Net result +664.1k NOK → +218.6k NOK. Equity 536.3k NOK → 55.0k NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ABILDSØ ELEKTRISKE AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 5.43m NOK → 4.73m NOK (41% → 47% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 13.25m NOK to 10.11m NOK (-23.6% YoY). Calculated
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↓
Operating result weakened
Operating result +951.2k NOK → +395.7k NOK (op. margin 7.2% → 3.9%). Calculated
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↓
Net result weakened
Net result +664.1k NOK → +218.6k NOK (net margin 5.0% → 2.2%). Calculated
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↓
Equity eroded
Book equity 536.3k NOK → 55.0k NOK (equity ratio 10.1% → 1.2%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 1.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 4.83m NOK → 3.24m NOK (-33.0% YoY). Calculated