ACTION TRANSPORT AS: årsregnskap 2005 vs 2004
Grew 38% on revenue, weaker earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for ACTION TRANSPORT AS. Revenue 10.72m NOK → 14.77m NOK (+37.8%). Net result +424.6k NOK → +117.2k NOK. Equity 221.1k NOK → -103.9k NOK.
On the constructive side: revenue rose. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for ACTION TRANSPORT AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 10.72m NOK to 14.77m NOK (+37.8% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +396.8k NOK → +207.5k NOK (op. margin 3.7% → 1.4%). Calculated
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↓
Net result weakened
Net result +424.6k NOK → +117.2k NOK (net margin 4.0% → 0.8%). Calculated
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↓
Equity eroded
Book equity 221.1k NOK → -103.9k NOK (equity ratio 5.8% → -2.2%). Calculated
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↓
Cash fell
Bank deposits 704.2k NOK → 306.0k NOK (-56.5% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -2.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 2 NOK → 4.51m NOK (0% → 31% of revenue). Calculated
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COGS moved
COGS / varekostnad 7.21m NOK → 7.34m NOK (+1.8% YoY). Calculated
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Book investments changed
Investment / intangible book value 160.4k NOK → 420.2k NOK. Reported fact