ABSNET AS: årsregnskap 2017 vs 2016
Grew 15% on revenue, returned to profit
approved 2018-06-29; registry 2018-07-07; journal 2018 639551
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for ABSNET AS. Revenue 5.87m NOK → 6.78m NOK (+15.5%). Net result -580.7k NOK → +886.5k NOK. Equity -591.7k NOK → 294.8k NOK.
On the constructive side: revenue rose; turned profitable; equity strengthened. Pressures included: current ratio dropped below 1×.
Also worth watching: cogs fell; book investments changed. All figures are taken from the published annual accounts for ABSNET AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 5.87m NOK to 6.78m NOK (+15.5% YoY). Calculated
-
↑
Turned profitable
Net result flipped from a loss of 580.7k NOK to a profit of 886.5k NOK. Calculated
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↑
Equity strengthened
Book equity -591.7k NOK → 294.8k NOK (equity ratio -71.6% → 62.9%). Calculated
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↑
Cash rose
Bank deposits 116.6k NOK → 259.5k NOK (+122.6% YoY). Calculated
What deteriorated
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↓
Current ratio dropped below 1×
Current ratio 1.82× → 0.70× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
COGS fell
COGS / varekostnad 2.32m NOK → 1.57m NOK (-32.5% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 50.6k NOK → 638.8k NOK. Reported fact