ADAPTA AVIATION AS: årsregnskap 2011 vs 2010
Shrank 82% on revenue, weaker earnings
approved 2012-06-30; registry 2012-09-01; journal 2012 690230
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ADAPTA AVIATION AS. Revenue 634.9k NOK → 115.5k NOK (-81.8%). Net result -27.3k NOK → -86.4k NOK. Equity 81.0k NOK → -5 405 NOK.
Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; cogs fell; book investments changed. All figures are taken from the published annual accounts for ADAPTA AVIATION AS.
At a glance
Scorecard
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 634.9k NOK to 115.5k NOK (-81.8% YoY). Calculated
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↓
Operating result weakened
Operating result +25.3k NOK → -29.4k NOK (op. margin 4.0% → -25.5%). Calculated
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↓
Net result weakened
Net result -27.3k NOK → -86.4k NOK (net margin -4.3% → -74.8%). Calculated
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↓
Equity eroded
Book equity 81.0k NOK → -5 405 NOK (equity ratio 1.1% → -0.1%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -0.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 570.8k NOK → 115.5k NOK (-79.8% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 88.9k NOK → 112.5k NOK. Reported fact