ACR elektro AS: årsregnskap 2004 vs 2003
Shrank 6% on revenue
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ACR elektro AS. Revenue 15.94m NOK → 14.98m NOK (-6.0%). Equity 365.3k NOK → 307.3k NOK.
Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ACR elektro AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 15.94m NOK to 14.98m NOK (-6.0% YoY). Calculated
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↓
Operating result weakened
Operating result +3.35m NOK → +2.74m NOK (op. margin 21.0% → 18.3%). Calculated
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↓
Equity eroded
Book equity 365.3k NOK → 307.3k NOK (equity ratio 5.1% → 4.2%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.07× → 0.95× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 5.57m NOK → 5.76m NOK (35% → 38% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 4.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 5.07m NOK → 4.60m NOK (-9.3% YoY). Calculated