FirmaIQ
Org.nr 985 253 846 2009 → 2010 Year-over-year analysis

AD NAVIGATION AS: årsregnskap 2010 vs 2009

Weaker earnings

Full company analysis · All year comparisons

Summary

What changed

Comparing Årsregnskap 2010 with 2009 for AD NAVIGATION AS. Revenue 4.25m NOK → 4.06m NOK (-4.5%). Net result -585.5k NOK → -2.67m NOK. Equity 2.18m NOK → -490.6k NOK.

Pressures included: revenue fell; net result weakened; equity eroded.

Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for AD NAVIGATION AS.

At a glance

Scorecard

Revenue
4.25m NOK 4.06m NOK
-4.5%
Operating result
n/m -3.58m NOK
—
Net result
-585.5k NOK -2.67m NOK
-356.5%
Equity
2.18m NOK -490.6k NOK
-122.5%
Total assets
2.77m NOK 4.20m NOK
+51.5%

What deteriorated

  • ↓

    Revenue fell

    Operating income / revenue moved from 4.25m NOK to 4.06m NOK (-4.5% YoY). Calculated

  • ↓

    Net result weakened

    Net result -585.5k NOK → -2.67m NOK (net margin -13.8% → -65.8%). Calculated

  • ↓

    Equity eroded

    Book equity 2.18m NOK → -490.6k NOK (equity ratio 78.8% → -11.7%). Calculated

  • ↓

    Payroll up without matching revenue

    Salary cost 1.29m NOK → 1.92m NOK (30% → 47% of revenue). Calculated

  • ↓

    COGS moved

    COGS / varekostnad 2.50m NOK → 2.68m NOK (+7.2% YoY). Calculated

Things to notice

  • ·

    Thin equity buffer

    Equity ratio is -11.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation

  • ·

    Book investments changed

    Investment / intangible book value 54.5k NOK → 10.0k NOK. Reported fact