ADAPTA AVIATION AS: årsregnskap 2013 vs 2012
Shrank 29% on revenue, weaker earnings
approved 2014-06-13; registry 2014-08-18; journal 2014 667350
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for ADAPTA AVIATION AS. Revenue 476.7k NOK → 340.5k NOK (-28.6%). Net result -221.7k NOK → -336.2k NOK. Equity 72.9k NOK → -263.4k NOK.
On the constructive side: operating result improved; payroll decreased. 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 ADAPTA AVIATION AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -13.5k NOK → +6 438 NOK (op. margin -2.8% → 1.9%). Calculated
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↑
Payroll decreased
Salary cost 21.0k NOK → 11.8k NOK (4% → 3% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 476.7k NOK to 340.5k NOK (-28.6% YoY). Calculated
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↓
Net result weakened
Net result -221.7k NOK → -336.2k NOK (net margin -46.5% → -98.7%). Calculated
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↓
Equity eroded
Book equity 72.9k NOK → -263.4k NOK (equity ratio 1.0% → -3.6%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 3.82× → 0.03× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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↓
COGS moved
COGS / varekostnad 169.2k NOK → 322.2k NOK (+90.4% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -3.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 112.5k NOK → 23.6k NOK. Reported fact