ACPH AS: årsregnskap 2018 vs 2017
Grew 383% on revenue, stronger earnings
approved 2019-06-30; registry 2019-08-05; journal 2019 868724
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ACPH AS. Revenue 26.0k NOK → 125.7k NOK (+383.3%). Net result +21.1k NOK → +32.6k NOK. Equity 45.5k NOK → 78.2k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ACPH AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 26.0k NOK to 125.7k NOK (+383.3% YoY). Calculated
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Operating result improved
Operating result +26.0k NOK → +41.8k NOK (op. margin 100.0% → 33.3%). Calculated
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Net result improved
Net result +21.1k NOK → +32.6k NOK (net margin 81.2% → 26.0%). Calculated
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Equity strengthened
Book equity 45.5k NOK → 78.2k NOK (equity ratio 90.3% → 5.2%). Calculated
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Cash rose
Bank deposits 44.1k NOK → 67.8k NOK (+53.6% YoY). Calculated
What deteriorated
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↓
Current ratio dropped below 1×
Current ratio 10.35× → 0.12× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is 5.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation