ABILITY FM AS: årsregnskap 2013 vs 2012
Grew 27% on revenue, stronger earnings, cash halved-plus
approved 2014-06-27; registry 2014-09-09; journal 2014 800614
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for ABILITY FM AS. Revenue 129.03m NOK → 164.32m NOK (+27.4%). Net result +3.86m NOK → +8.96m NOK. Equity 5.09m NOK → -3.87m NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; cash fell; current ratio dropped below 1×.
Also worth watching: thin equity buffer; sharp cash drawdown; payroll increased. All figures are taken from the published annual accounts for ABILITY FM AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 129.03m NOK to 164.32m NOK (+27.4% YoY). Calculated
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Operating result improved
Operating result +5.99m NOK → +9.76m NOK (op. margin 4.6% → 5.9%). Calculated
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Net result improved
Net result +3.86m NOK → +8.96m NOK (net margin 3.0% → 5.5%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 5.09m NOK → -3.87m NOK (equity ratio 11.8% → -6.7%). Calculated
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↓
Cash fell
Bank deposits 29.31m NOK → 4.47m NOK (-84.7% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.11× → 0.88× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is -6.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (29.31m NOK → 4.47m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Payroll increased
Salary cost 85.62m NOK → 4.12bn NOK (66% → 2506% of revenue). Calculated
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COGS moved
COGS / varekostnad 18.18m NOK → 31.55m NOK (+73.5% YoY). Calculated