ADD ENERGY GROUP AS: årsregnskap 2014 vs 2013
Grew 16% on revenue, weaker earnings, cash halved-plus
approved 2015-05-13; registry 2015-08-15; journal 2015 713836
Summary
What changed
Comparing Årsregnskap 2014 with 2013 for ADD ENERGY GROUP AS. Revenue 8.79m NOK → 10.23m NOK (+16.4%). Net result -4.90m NOK → -89.06m NOK. Equity 282.97m NOK → 194.02m NOK.
On the constructive side: revenue rose; current ratio back above 1×; payroll decreased. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: sharp cash drawdown; paid-in equity reduced; cogs moved. All figures are taken from the published annual accounts for ADD ENERGY GROUP AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 8.79m NOK to 10.23m NOK (+16.4% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.05× → 8.42×. Calculated
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Payroll decreased
Salary cost 25.19m NOK → 15 NOK (286% → 0% of revenue). Calculated
What deteriorated
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↓
Net result weakened
Net result -4.90m NOK → -89.06m NOK (net margin -55.7% → -870.5%). Calculated
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↓
Equity eroded
Book equity 282.97m NOK → 194.02m NOK (equity ratio 63329.3% → 52.1%). Calculated
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↓
Cash fell
Bank deposits 23.65m NOK → 67.0k NOK (-99.7% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (23.65m NOK → 67.0k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Paid-in equity reduced
Paid-in equity fell 282.97m NOK → 194.02m NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS moved
COGS / varekostnad 2.98m NOK → 3.47m NOK (+16.3% YoY). Calculated
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Book investments changed
Investment / intangible book value 429.6k NOK → 359.93m NOK. Reported fact