ABSNET AS: årsregnskap 2019 vs 2018
Grew 26% on revenue, weaker earnings
approved 2020-10-14; registry 2020-10-21; journal 2020 957145
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ABSNET AS. Revenue 6.90m NOK → 8.71m NOK (+26.2%). Net result +841.7k NOK → +276.2k NOK. Equity 389.1k NOK → 365.3k NOK.
On the constructive side: revenue rose; cash rose; current ratio back above 1×. Pressures included: net result weakened; equity eroded.
Also worth watching: cogs moved; book investments changed. All figures are taken from the published annual accounts for ABSNET AS.
At a glance
Scorecard
What improved
-
↑
Revenue rose
Operating income / revenue moved from 6.90m NOK to 8.71m NOK (+26.2% YoY). Calculated
-
↑
Cash rose
Bank deposits 645.9k NOK → 821.1k NOK (+27.1% YoY). Calculated
-
↑
Current ratio back above 1×
Current ratio 0.20× → 1.09×. Calculated
What deteriorated
-
↓
Net result weakened
Net result +841.7k NOK → +276.2k NOK (net margin 12.2% → 3.2%). Calculated
-
↓
Equity eroded
Book equity 389.1k NOK → 365.3k NOK (equity ratio 18.0% → 11.0%). Calculated
Things to notice
-
·
COGS moved
COGS / varekostnad 1.90m NOK → 2.44m NOK (+28.3% YoY). Calculated
-
·
Book investments changed
Investment / intangible book value 809.8k NOK → 50.6k NOK. Reported fact