ADAPTI AS: årsregnskap 2018 vs 2017
Shrank 53% on revenue, returned to profit
approved 2019-06-26; registry 2019-07-16; journal 2019 713733
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADAPTI AS. Revenue 42.43m NOK → 20.15m NOK (-52.5%). Net result -57.8k NOK → +1.95m NOK. Equity 201.0k NOK → 250.6k 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: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ADAPTI AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -93.6k NOK → +2.54m NOK (op. margin -0.2% → 12.6%). Calculated
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Turned profitable
Net result flipped from a loss of 57.8k NOK to a profit of 1.95m NOK. Calculated
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Equity strengthened
Book equity 201.0k NOK → 250.6k NOK (equity ratio 8.1% → 2.8%). Calculated
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Cash rose
Bank deposits 610.5k NOK → 652.6k NOK (+6.9% YoY). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 42.43m NOK to 20.15m NOK (-52.5% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 2.64m NOK → 3.68m NOK (6% → 18% of revenue). Calculated
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↓
COGS moved
COGS / varekostnad 8.79m NOK → 12.85m NOK (+46.1% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 2.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Book investments changed
Investment / intangible book value 110.4k NOK → 128.3k NOK. Reported fact