ADAPA AS: årsregnskap 2003 vs 2002
A steady year on the published lines
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ADAPA AS. Revenue 4.60m NOK → 4.72m NOK (+2.7%). Equity 490.0k NOK → 33.5k NOK.
On the constructive side: revenue rose; operating result improved. Pressures included: equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for ADAPA AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 4.60m NOK to 4.72m NOK (+2.7% YoY). Calculated
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↑
Operating result improved
Operating result +336.1k NOK → +610.7k NOK (op. margin 7.3% → 12.9%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 490.0k NOK → 33.5k NOK (equity ratio 10.0% → 1.3%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 1.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 1.06m NOK → 1.98m NOK (23% → 42% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 851.1k NOK → 1.31m NOK (+53.9% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 0 NOK → 350.0k NOK. Reported fact