ABSNET AS: årsregnskap 2022 vs 2021
Grew 21% on revenue, stronger earnings, cash halved-plus
approved 2023-08-17; registry 2023-08-23; journal 2023 712307
Summary
What changed
Comparing Årsregnskap 2022 with 2021 for ABSNET AS. Revenue 8.74m NOK → 10.61m NOK (+21.4%). Net result -1.03m NOK → -524.5k NOK. Equity -600.4k NOK → -1.12m NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer; payroll increased; cogs moved. 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 8.74m NOK to 10.61m NOK (+21.4% YoY). Calculated
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↑
Operating result improved
Operating result -1.17m NOK → -467.4k NOK (op. margin -13.4% → -4.4%). Calculated
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↑
Net result improved
Net result -1.03m NOK → -524.5k NOK (net margin -11.8% → -4.9%). Calculated
What deteriorated
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↓
Equity eroded
Book equity -600.4k NOK → -1.12m NOK (equity ratio -7.3% → -17.5%). Calculated
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↓
Cash fell
Bank deposits 556.9k NOK → 114.6k NOK (-79.4% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -17.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 4.66m NOK → 4.74m NOK (53% → 45% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 2.77m NOK → 3.86m NOK (+39.1% YoY). Calculated