ACPH AS: årsregnskap 2019 vs 2018
Grew 111% on revenue, stronger earnings
approved 2020-07-11; registry 2020-09-23; journal 2020 848206
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ACPH AS. Revenue 125.7k NOK → 265.5k NOK (+111.3%). Net result +32.6k NOK → +278.5k NOK. Equity 78.2k NOK → -200.4k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded.
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 125.7k NOK to 265.5k NOK (+111.3% YoY). Calculated
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Operating result improved
Operating result +41.8k NOK → +305.0k NOK (op. margin 33.3% → 114.9%). Calculated
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Net result improved
Net result +32.6k NOK → +278.5k NOK (net margin 26.0% → 104.9%). Calculated
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Cash rose
Bank deposits 67.8k NOK → 88.0k NOK (+29.8% YoY). Calculated
What deteriorated
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↓
Equity eroded
Book equity 78.2k NOK → -200.4k NOK (equity ratio 5.2% → -7.8%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -7.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation