AD LAGUN AS: årsregnskap 2004 vs 2003
Shrank 28% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for AD LAGUN AS. Revenue 1.94m NOK → 1.39m NOK (-28.2%). Net result +770.6k NOK → +339.8k NOK. Equity 1.52m NOK → 6.66m NOK.
On the constructive side: operating result improved; equity strengthened. Pressures included: revenue fell; net result weakened; payroll up without matching revenue.
Also worth watching: book investments changed. All figures are taken from the published annual accounts for AD LAGUN AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +123.7k NOK → +490.9k NOK (op. margin 6.4% → 35.2%). Calculated
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↑
Equity strengthened
Book equity 1.52m NOK → 6.66m NOK (equity ratio 38.2% → 173.3%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 1.94m NOK to 1.39m NOK (-28.2% YoY). Calculated
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↓
Net result weakened
Net result +770.6k NOK → +339.8k NOK (net margin 39.7% → 24.4%). Calculated
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↓
Payroll up without matching revenue
Salary cost 408.9k NOK → 465.6k NOK (21% → 33% of revenue). Calculated
Things to notice
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·
Book investments changed
Investment / intangible book value 45.0k NOK → 66.6k NOK. Reported fact