ACADEMIC WORK NORWAY AS: årsregnskap 2011 vs 2010
Grew 35% on revenue, cash halved-plus
approved 2012-03-15; registry 2012-08-01; journal 2012 575734
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ACADEMIC WORK NORWAY AS. Revenue 106.19m NOK → 143.42m NOK (+35.1%). Equity 2.81m NOK → 3.26m NOK.
On the constructive side: revenue rose; operating result improved; equity strengthened. Pressures included: cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; payroll increased. 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 106.19m NOK to 143.42m NOK (+35.1% YoY). Calculated
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↑
Operating result improved
Operating result +3.49m NOK → +5.51m NOK (op. margin 3.3% → 3.8%). Calculated
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↑
Equity strengthened
Book equity 2.81m NOK → 3.26m NOK (equity ratio 10.0% → 9.0%). Calculated
What deteriorated
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↓
Cash fell
Bank deposits 7.32m NOK → 2.65m NOK (-63.8% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 9.0% 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 (7.32m NOK → 2.65m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Payroll increased
Salary cost 1 016 NOK → 4.32bn NOK (0% → 3015% of revenue). Calculated
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Book investments changed
Investment / intangible book value 450 NOK → 450.0k NOK. Reported fact