ABRA FINANCE AS: årsregnskap 2013 vs 2012
Shrank 6% on revenue, stronger earnings
approved 2014-09-30; registry 2014-10-02; journal 2014 861067
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for ABRA FINANCE AS. Revenue 636.1k NOK → 595.8k NOK (-6.3%). Net result -518.3k NOK → -177.2k NOK. Equity 68.6k NOK → -108.6k NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ABRA FINANCE AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -456.4k NOK → -174.1k NOK (op. margin -71.8% → -29.2%). Calculated
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Net result improved
Net result -518.3k NOK → -177.2k NOK (net margin -81.5% → -29.7%). Calculated
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Payroll decreased
Salary cost 593.9k NOK → 454.5k NOK (93% → 76% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 636.1k NOK to 595.8k NOK (-6.3% YoY). Calculated
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↓
Equity eroded
Book equity 68.6k NOK → -108.6k NOK (equity ratio 10.2% → -0.0%). Calculated
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↓
Cash fell
Bank deposits 77.9k NOK → 43.4k NOK (-44.2% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation