ADAX NORGE AS: årsregnskap 2016 vs 2015
Weaker earnings, cash halved-plus
approved 2017-05-03; registry 2017-07-26; journal 2017 769581
Summary
What changed
Comparing Årsregnskap 2016 with 2015 for ADAX NORGE AS. Revenue 11.82m NOK → 11.28m NOK (-4.5%). Net result +789.9k NOK → +304.6k NOK. Equity 103.3k NOK → 408.0k NOK.
On the constructive side: equity strengthened; current ratio back above 1×; payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: sharp cash drawdown; cogs fell. All figures are taken from the published annual accounts for ADAX NORGE AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity 103.3k NOK → 408.0k NOK (equity ratio 1.5% → 25.6%). Calculated
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↑
Current ratio back above 1×
Current ratio 0.99× → 1.19×. Calculated
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↑
Payroll decreased
Salary cost 45.90m NOK → 45.87m NOK (388% → 407% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 11.82m NOK to 11.28m NOK (-4.5% YoY). Calculated
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↓
Operating result weakened
Operating result +1.07m NOK → +378.6k NOK (op. margin 9.0% → 3.4%). Calculated
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↓
Net result weakened
Net result +789.9k NOK → +304.6k NOK (net margin 6.7% → 2.7%). Calculated
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↓
Cash fell
Bank deposits 5.56m NOK → 273.4k NOK (-95.1% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (5.56m NOK → 273.4k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
COGS fell
COGS / varekostnad 8.20m NOK → 8.02m NOK (-2.3% YoY). Calculated