ABSNET AS: årsregnskap 2020 vs 2019
Shrank 17% on revenue, weaker earnings
approved 2021-04-21; registry 2021-07-31; journal 2021 564923
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ABSNET AS. Revenue 8.71m NOK → 7.22m NOK (-17.0%). Net result +276.2k NOK → +69.2k NOK. Equity 365.3k NOK → 434.5k NOK.
On the constructive side: equity strengthened. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ABSNET AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity 365.3k NOK → 434.5k NOK (equity ratio 11.0% → 4.9%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 8.71m NOK to 7.22m NOK (-17.0% YoY). Calculated
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↓
Operating result weakened
Operating result +1.64m NOK → +104.9k NOK (op. margin 18.9% → 1.5%). Calculated
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↓
Net result weakened
Net result +276.2k NOK → +69.2k NOK (net margin 3.2% → 1.0%). Calculated
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↓
Cash fell
Bank deposits 821.1k NOK → 471.5k NOK (-42.6% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.09× → 0.16× — 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 4.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 2.44m NOK → 1.96m NOK (-19.5% YoY). Calculated