ACE GOLF AS: årsregnskap 2002 vs 2001
Grew 18% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2002 with 2001 for ACE GOLF AS. Revenue 2.46m NOK → 2.90m NOK (+17.9%). Net result +109.0k NOK → +221.4k NOK. Equity 251.1k NOK → 472.5k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: current ratio dropped below 1×.
Also worth watching: payroll increased; cogs moved. All figures are taken from the published annual accounts for ACE GOLF AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 2.46m NOK to 2.90m NOK (+17.9% YoY). Calculated
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↑
Operating result improved
Operating result +196.3k NOK → +261.3k NOK (op. margin 8.0% → 9.0%). Calculated
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↑
Net result improved
Net result +109.0k NOK → +221.4k NOK (net margin 4.4% → 7.6%). Calculated
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↑
Equity strengthened
Book equity 251.1k NOK → 472.5k NOK (equity ratio 32.7% → 340.1%). Calculated
What deteriorated
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↓
Current ratio dropped below 1×
Current ratio 1.49× → 0.17× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Payroll increased
Salary cost 559.1k NOK → 581.5k NOK (23% → 20% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 384.0k NOK → 768.3k NOK (+100.1% YoY). Calculated