ABYSS SHIP MANAGEMENT AS: årsregnskap 2018 vs 2017
Shrank 5% on revenue, stronger earnings, cash halved-plus
approved 2019-04-29; registry 2019-05-29; journal 2019 363040
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ABYSS SHIP MANAGEMENT AS. Revenue 20.22m NOK → 19.12m NOK (-5.4%). Net result +158.4k NOK → +533.2k NOK. Equity 549.5k NOK → 82.7k 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 ABYSS SHIP MANAGEMENT AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +207.8k NOK → +691.0k NOK (op. margin 1.0% → 3.6%). Calculated
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Net result improved
Net result +158.4k NOK → +533.2k NOK (net margin 0.8% → 2.8%). Calculated
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Payroll decreased
Salary cost 19.01m NOK → 17.78m NOK (94% → 93% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 20.22m NOK to 19.12m NOK (-5.4% YoY). Calculated
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Equity eroded
Book equity 549.5k NOK → 82.7k NOK (equity ratio 11.0% → 1.8%). Calculated
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Cash fell
Bank deposits 1.48m NOK → 724.5k NOK (-51.2% YoY). Calculated
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COGS moved
COGS / varekostnad 89.0k NOK → 125.0k NOK (+40.4% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 1.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation