ABO MASKIN AS: årsregnskap 2003 vs 2002
Shrank 29% on revenue, stronger earnings, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ABO MASKIN AS. Revenue 915.4k NOK → 649.6k NOK (-29.0%). Net result +90.6k NOK → +231.1k NOK. Equity 96.3k NOK → 77.8k NOK.
On the constructive side: net result improved; owners injected capital. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: cogs fell. All figures are taken from the published annual accounts for ABO MASKIN AS.
At a glance
Scorecard
What improved
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Net result improved
Net result +90.6k NOK → +231.1k NOK (net margin 9.9% → 35.6%). Calculated
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Owners injected capital
Paid-in equity rose 50.0k NOK → 107.0k NOK (+57.0k NOK). Reported fact
What deteriorated
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Revenue fell
Operating income / revenue moved from 915.4k NOK to 649.6k NOK (-29.0% YoY). Calculated
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Operating result weakened
Operating result +194.3k NOK → +180.1k NOK (op. margin 21.2% → 27.7%). Calculated
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Equity eroded
Book equity 96.3k NOK → 77.8k NOK (equity ratio 17.4% → 13.4%). Calculated
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Current ratio dropped below 1×
Current ratio 1.42× → 0.74× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 4.26m NOK → 4.28m NOK (465% → 659% of revenue). Calculated
Things to notice
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COGS fell
COGS / varekostnad 58.9k NOK → 35.3k NOK (-40.0% YoY). Calculated