ACE GOLF AS: årsregnskap 2003 vs 2002
Shrank 95% on revenue, slipped into loss
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ACE GOLF AS. Revenue 2.90m NOK → 139.7k NOK (-95.2%). Net result +221.4k NOK → -168.8k NOK. Equity 472.5k NOK → 303.7k NOK.
On the constructive side: current ratio back above 1×; payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: cogs fell. All figures are taken from the published annual accounts for ACE GOLF AS.
At a glance
Scorecard
What improved
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↑
Current ratio back above 1×
Current ratio 0.17× → 1.81×. Calculated
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↑
Payroll decreased
Salary cost 581.5k NOK → 199.8k NOK (20% → 143% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.90m NOK to 139.7k NOK (-95.2% YoY). Calculated
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↓
Operating result weakened
Operating result +261.3k NOK → -179.1k NOK (op. margin 9.0% → -128.1%). Calculated
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↓
Fell into a net loss
Net result flipped from 221.4k NOK profit to a loss of 168.8k NOK. Calculated
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↓
Equity eroded
Book equity 472.5k NOK → 303.7k NOK (equity ratio 340.1% → 46.6%). Calculated
Things to notice
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·
COGS fell
COGS / varekostnad 768.3k NOK → 36.6k NOK (-95.2% YoY). Calculated