ABYSSUS MARINE SERVICES AS: årsregnskap 2018 vs 2017
Shrank 63% on revenue, weaker earnings, cash halved-plus
approved 2020-02-13; registry 2020-02-17; journal 2020 209997
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ABYSSUS MARINE SERVICES AS. Revenue 5.81m NOK → 2.14m NOK (-63.2%). Net result +302.1k NOK → +155 NOK. Equity 113.5k NOK → -3.18m NOK.
On the constructive side: 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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↑
Payroll decreased
Salary cost 2.17m NOK → 1.99m NOK (37% → 93% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 5.81m NOK to 2.14m NOK (-63.2% YoY). Calculated
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↓
Operating result weakened
Operating result +435.0k NOK → +319 NOK (op. margin 7.5% → 0.0%). Calculated
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↓
Net result weakened
Net result +302.1k NOK → +155 NOK (net margin 5.2% → 0.0%). Calculated
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↓
Equity eroded
Book equity 113.5k NOK → -3.18m NOK (equity ratio 2.2% → -80.7%). Calculated
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↓
Cash fell
Bank deposits 292.7k NOK → 106.7k NOK (-63.5% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -80.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 1.93m NOK → 1.58m NOK (-18.2% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 1.51m NOK → 45.0k NOK. Reported fact