AD UNDAS AS: årsregnskap 2018 vs 2017
Shrank 5% on revenue, weaker earnings
approved 2019-06-30; registry 2019-08-08; journal 2019 898078
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for AD UNDAS AS. Revenue 8.03m NOK → 7.60m NOK (-5.3%). Net result -152.0k NOK → -229.6k NOK. Equity 89.9k NOK → -139.7k NOK.
On the constructive side: cash rose; payroll decreased. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AD UNDAS AS.
At a glance
Scorecard
What improved
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↑
Cash rose
Bank deposits 135.7k NOK → 136.9k NOK (+0.9% YoY). Calculated
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↑
Payroll decreased
Salary cost 1.83m NOK → 1.40m NOK (23% → 18% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 8.03m NOK to 7.60m NOK (-5.3% YoY). Calculated
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↓
Net result weakened
Net result -152.0k NOK → -229.6k NOK (net margin -1.9% → -3.0%). Calculated
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↓
Equity eroded
Book equity 89.9k NOK → -139.7k NOK (equity ratio 4.4% → -6.5%). Calculated
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↓
COGS moved
COGS / varekostnad 4.78m NOK → 5.00m NOK (+4.6% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -6.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation