AD-GROUP AS: årsregnskap 2009 vs 2008
Shrank 64% on revenue, returned to profit
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for AD-GROUP AS. Revenue 158.9k NOK → 57.7k NOK (-63.7%). Net result -394.7k NOK → +118.3k NOK. Equity 580.4k NOK → 698.7k NOK.
On the constructive side: turned profitable; equity strengthened; payroll decreased. Pressures included: revenue fell; operating result weakened; current ratio dropped below 1×.
Also worth watching: cogs fell; book investments changed. All figures are taken from the published annual accounts for AD-GROUP AS.
At a glance
Scorecard
What improved
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↑
Turned profitable
Net result flipped from a loss of 394.7k NOK to a profit of 118.3k NOK. Calculated
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↑
Equity strengthened
Book equity 580.4k NOK → 698.7k NOK (equity ratio 30.4% → 42.6%). Calculated
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↑
Payroll decreased
Salary cost 8 600 NOK → 3 491 NOK (5% → 6% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 158.9k NOK to 57.7k NOK (-63.7% YoY). Calculated
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↓
Operating result weakened
Operating result +11.1k NOK → +6 213 NOK (op. margin 7.0% → 10.8%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.07× → 0.59× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
COGS fell
COGS / varekostnad 19.2k NOK → 2 084 NOK (-89.1% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 200.0k NOK → 805.5k NOK. Reported fact