ACUSTUS SVEIS AS: årsregnskap 2003 vs 2002
Shrank 23% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ACUSTUS SVEIS AS. Revenue 10.03m NOK → 7.72m NOK (-23.1%). Net result +80.7k NOK → +49.5k NOK. Equity 989.8k NOK → 39.4k NOK.
Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ACUSTUS SVEIS AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 10.03m NOK to 7.72m NOK (-23.1% YoY). Calculated
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↓
Operating result weakened
Operating result +760.1k NOK → +710.4k NOK (op. margin 7.6% → 9.2%). Calculated
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↓
Net result weakened
Net result +80.7k NOK → +49.5k NOK (net margin 0.8% → 0.6%). Calculated
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↓
Equity eroded
Book equity 989.8k NOK → 39.4k NOK (equity ratio 10.0% → 0.4%). Calculated
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↓
Payroll up without matching revenue
Salary cost 1 NOK → 4.00m NOK (0% → 52% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 2.72m NOK → 1.15m NOK (-57.5% YoY). Calculated