ABYSSINIA RESOURCES DEVELOPMENT AS: årsregnskap 2023 vs 2022
Shrank 32% on revenue, weaker earnings, cash halved-plus
approved 2024-05-31; registry 2024-06-15; journal 2024 475902
Summary
What changed
Comparing Årsregnskap 2023 with 2022 for ABYSSINIA RESOURCES DEVELOPMENT AS. Revenue 60.25m NOK → 41.26m NOK (-31.5%). Net result -12.18m NOK → -18.38m NOK. Equity 1.03m NOK → -17.35m NOK.
On the constructive side: operating result improved. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: thin equity buffer; sharp cash drawdown; cogs fell. All figures are taken from the published annual accounts for ABYSSINIA RESOURCES DEVELOPMENT AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +5.01m NOK → +24.33m NOK (op. margin 8.3% → 59.0%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 60.25m NOK to 41.26m NOK (-31.5% YoY). Calculated
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↓
Net result weakened
Net result -12.18m NOK → -18.38m NOK (net margin -20.2% → -44.6%). Calculated
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↓
Equity eroded
Book equity 1.03m NOK → -17.35m NOK (equity ratio 0.5% → -5.7%). Calculated
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↓
Cash fell
Bank deposits 42.79m NOK → 3.58m NOK (-91.6% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 6.47m NOK → 7.21m NOK (11% → 17% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -5.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (42.79m NOK → 3.58m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS fell
COGS / varekostnad 34.84m NOK → 1.15m NOK (-96.7% YoY). Calculated
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Book investments changed
Investment / intangible book value 109.73m NOK → 224.66m NOK. Reported fact
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Headcount (årsverk) changed
Reported FTEs 1 → 4. Reported fact