ACTIC NORGE AS: årsregnskap 2003 vs 2002
Grew 29% on revenue, weaker earnings, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ACTIC NORGE AS. Revenue 6.12m NOK → 7.91m NOK (+29.3%). Net result +852.0k NOK → +370.0k NOK. Equity 603.0k NOK → 870 NOK.
On the constructive side: revenue rose; operating result improved; owners injected capital. Pressures included: net result weakened; equity eroded.
Also worth watching: thin equity buffer; payroll increased. All figures are taken from the published annual accounts for ACTIC NORGE AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 6.12m NOK to 7.91m NOK (+29.3% YoY). Calculated
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↑
Operating result improved
Operating result +174.1k NOK → +1.80m NOK (op. margin 2.8% → 22.8%). Calculated
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↑
Owners injected capital
Paid-in equity rose 50.0k NOK → 100.0k NOK (+50.0k NOK). Reported fact
What deteriorated
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↓
Net result weakened
Net result +852.0k NOK → +370.0k NOK (net margin 13.9% → 4.7%). Calculated
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↓
Equity eroded
Book equity 603.0k NOK → 870 NOK (equity ratio 10.0% → 0.0%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 2.29m NOK → 2.60m NOK (37% → 33% of revenue). Calculated