ACADEMIC WORK NORWAY AS: årsregnskap 2009 vs 2008
Grew 33% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for ACADEMIC WORK NORWAY AS. Revenue 62.54m NOK → 83.21m NOK (+33.1%). Net result +5.19m NOK → +361.9k NOK. Equity 246.1k NOK → 608.0k NOK.
On the constructive side: revenue rose; operating result improved; equity strengthened. Pressures included: net result weakened.
Also worth watching: paid-in equity reduced. All figures are taken from the published annual accounts for ACADEMIC WORK NORWAY AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 62.54m NOK to 83.21m NOK (+33.1% YoY). Calculated
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Operating result improved
Operating result +303.5k NOK → +910.2k NOK (op. margin 0.5% → 1.1%). Calculated
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↑
Equity strengthened
Book equity 246.1k NOK → 608.0k NOK (equity ratio 1.0% → 2.8%). Calculated
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Cash rose
Bank deposits 6.71m NOK → 11.25m NOK (+67.8% YoY). Calculated
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↑
Payroll decreased
Salary cost 51.54m NOK → 723.0k NOK (82% → 1% of revenue). Calculated
What deteriorated
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↓
Net result weakened
Net result +5.19m NOK → +361.9k NOK (net margin 8.3% → 0.4%). Calculated
Things to notice
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·
Paid-in equity reduced
Paid-in equity fell 1.06m NOK → 56.0k NOK — check capital reduction, conversion, or reclassification. Interpretation