ABYSSUS MARINE SERVICES AS: årsregnskap 2010 vs 2009
Shrank 55% on revenue, weaker earnings
approved 2011-06-30; registry 2011-09-13; journal 2011 756289
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for ABYSSUS MARINE SERVICES AS. Revenue 4.03m NOK → 1.80m NOK (-55.4%). Net result +547.0k NOK → +28.2k NOK. Equity 823.8k NOK → 852.0k NOK.
On the constructive side: equity strengthened; payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; cogs fell; book investments changed. All figures are taken from the published annual accounts for ABYSSUS MARINE SERVICES AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity 823.8k NOK → 852.0k NOK (equity ratio 26.3% → 9.9%). Calculated
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↑
Payroll decreased
Salary cost 5.56m NOK → 4.06m NOK (138% → 226% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 4.03m NOK to 1.80m NOK (-55.4% YoY). Calculated
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↓
Operating result weakened
Operating result +829.4k NOK → +84.1k NOK (op. margin 20.6% → 4.7%). Calculated
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↓
Net result weakened
Net result +547.0k NOK → +28.2k NOK (net margin 13.6% → 1.6%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 9.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 133.1k NOK → 94.7k NOK (-28.8% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 910.1k NOK → 965.1k NOK. Reported fact