AD NAVIGATION AS: årsregnskap 2011 vs 2010
Shrank 47% on revenue, returned to profit
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for AD NAVIGATION AS. Revenue 4.06m NOK → 2.17m NOK (-46.6%). Net result -2.67m NOK → +317.3k NOK. Equity -490.6k NOK → -173.3k NOK.
On the constructive side: operating result improved; turned profitable; equity strengthened. Pressures included: revenue fell; payroll up without matching revenue; cogs moved.
Also worth watching: book investments changed. All figures are taken from the published annual accounts for AD NAVIGATION AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -3.58m NOK → +727.3k NOK (op. margin -88.2% → 33.6%). Calculated
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↑
Turned profitable
Net result flipped from a loss of 2.67m NOK to a profit of 317.3k NOK. Calculated
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↑
Equity strengthened
Book equity -490.6k NOK → -173.3k NOK (equity ratio -11.7% → -1.6%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 4.06m NOK to 2.17m NOK (-46.6% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 1.92m NOK → 2.29m NOK (47% → 105% of revenue). Calculated
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↓
COGS moved
COGS / varekostnad 2.68m NOK → 3.49m NOK (+30.2% YoY). Calculated
Things to notice
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·
Book investments changed
Investment / intangible book value 10.0k NOK → 329.9k NOK. Reported fact