ADCOM HOLDING AS: årsregnskap 2008 vs 2007
Grew 14% on revenue, returned to profit, cash halved-plus
approved 2009-04-22; registry 2009-04-27
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for ADCOM HOLDING AS. Revenue 2.90m NOK → 3.31m NOK (+14.2%). Net result -43.2k NOK → +634.6k NOK. Equity 662.3k NOK → 296.8k NOK.
On the constructive side: revenue rose; operating result improved; turned profitable. Pressures included: equity eroded; cash fell.
Also worth watching: sharp cash drawdown; payroll increased; cogs moved. All figures are taken from the published annual accounts for ADCOM HOLDING AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 2.90m NOK to 3.31m NOK (+14.2% YoY). Calculated
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↑
Operating result improved
Operating result -40.0k NOK → +498.4k NOK (op. margin -1.4% → 15.1%). Calculated
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↑
Turned profitable
Net result flipped from a loss of 43.2k NOK to a profit of 634.6k NOK. Calculated
What deteriorated
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↓
Equity eroded
Book equity 662.3k NOK → 296.8k NOK (equity ratio 39.0% → 15.5%). Calculated
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↓
Cash fell
Bank deposits 6.35m NOK → 640.7k NOK (-89.9% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (6.35m NOK → 640.7k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Payroll increased
Salary cost 2 NOK → 1.18m NOK (0% → 36% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 315.2k NOK → 515.2k NOK (+63.5% YoY). Calculated