ACE WELL TECHNOLOGY AS: årsregnskap 2020 vs 2019
Shrank 17% on revenue, stronger earnings
approved 2021-06-04; registry 2021-06-28; journal 2021 404689
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ACE WELL TECHNOLOGY AS. Revenue 53.03m NOK → 44.04m NOK (-17.0%). Net result +1.90m NOK → +3.00m NOK. Equity 26.01m NOK → 29.01m NOK.
On the constructive side: operating result improved; net result improved; equity strengthened. Pressures included: revenue fell; payroll up without matching revenue.
Also worth watching: paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for ACE WELL TECHNOLOGY AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +3.08m NOK → +3.19m NOK (op. margin 5.8% → 7.3%). Calculated
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Net result improved
Net result +1.90m NOK → +3.00m NOK (net margin 3.6% → 6.8%). Calculated
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Equity strengthened
Book equity 26.01m NOK → 29.01m NOK (equity ratio 49.1% → 61.1%). Calculated
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Cash rose
Bank deposits 157.9k NOK → 2.92m NOK (+1749.0% YoY). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 53.03m NOK to 44.04m NOK (-17.0% YoY). Calculated
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Payroll up without matching revenue
Salary cost 10.03m NOK → 10.88m NOK (19% → 25% of revenue). Calculated
Things to notice
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Paid-in equity reduced
Paid-in equity fell 55.96m NOK → 29.01m NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 18.91m NOK → 16.93m NOK (-10.4% YoY). Calculated