ADAPTI AS: årsregnskap 2019 vs 2018
Grew 16% on revenue, weaker earnings
approved 2020-08-27; registry 2020-09-24; journal 2020 853058
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ADAPTI AS. Revenue 20.15m NOK → 23.48m NOK (+16.5%). Net result +1.95m NOK → +860.1k NOK. Equity 250.6k NOK → 1 110 NOK.
On the constructive side: revenue rose; cash rose. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for ADAPTI AS.
At a glance
Scorecard
What improved
-
↑
Revenue rose
Operating income / revenue moved from 20.15m NOK to 23.48m NOK (+16.5% YoY). Calculated
-
↑
Cash rose
Bank deposits 652.6k NOK → 1.64m NOK (+151.2% YoY). Calculated
What deteriorated
-
↓
Operating result weakened
Operating result +2.54m NOK → +1.15m NOK (op. margin 12.6% → 4.9%). Calculated
-
↓
Net result weakened
Net result +1.95m NOK → +860.1k NOK (net margin 9.7% → 3.7%). Calculated
-
↓
Equity eroded
Book equity 250.6k NOK → 1 110 NOK (equity ratio 2.8% → 0.0%). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Payroll increased
Salary cost 3.68m NOK → 5.16m NOK (18% → 22% of revenue). Calculated
-
·
COGS moved
COGS / varekostnad 12.85m NOK → 15.72m NOK (+22.4% YoY). Calculated
-
·
Book investments changed
Investment / intangible book value 128.3k NOK → 110.4k NOK. Reported fact