ACTINIA AS: årsregnskap 2003 vs 2002
Shrank 52% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ACTINIA AS. Revenue 1.64m NOK → 784.8k NOK (-52.0%). Net result +269.4k NOK → +41.8k NOK. Equity 177.9k NOK → 136.1k NOK.
Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ACTINIA AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 1.64m NOK to 784.8k NOK (-52.0% YoY). Calculated
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Operating result weakened
Operating result +411.7k NOK → +4 723 NOK (op. margin 25.2% → 0.6%). Calculated
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↓
Net result weakened
Net result +269.4k NOK → +41.8k NOK (net margin 16.5% → 5.3%). Calculated
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↓
Equity eroded
Book equity 177.9k NOK → 136.1k NOK (equity ratio 10.1% → 8.7%). Calculated
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Cash fell
Bank deposits 67.1k NOK → 50.6k NOK (-24.6% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 8.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Book investments changed
Investment / intangible book value 1.76m NOK → 1.56m NOK. Reported fact