ADD ON FITNESS INTERNATIONAL AS: årsregnskap 2018 vs 2017
Shrank 18% on revenue, stronger earnings, cash halved-plus
approved 2019-05-20; registry 2019-06-25; journal 2019 516634
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADD ON FITNESS INTERNATIONAL AS. Revenue 1.02m NOK → 839.1k NOK (-17.7%). Net result +88.1k NOK → +231.8k NOK. Equity 842.3k NOK → 610.6k NOK.
On the constructive side: operating result improved; net result improved; current ratio back above 1×. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: book investments changed. All figures are taken from the published annual accounts for ADD ON FITNESS INTERNATIONAL AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +136.0k NOK → +196.5k NOK (op. margin 13.3% → 23.4%). Calculated
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Net result improved
Net result +88.1k NOK → +231.8k NOK (net margin 8.6% → 27.6%). Calculated
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Current ratio back above 1×
Current ratio 0.15× → 1.65×. Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 1.02m NOK to 839.1k NOK (-17.7% YoY). Calculated
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↓
Equity eroded
Book equity 842.3k NOK → 610.6k NOK (equity ratio 46.2% → 45.0%). Calculated
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Cash fell
Bank deposits 137.8k NOK → 13.7k NOK (-90.0% YoY). Calculated
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Payroll up without matching revenue
Salary cost 768.5k NOK → 906.5k NOK (75% → 108% of revenue). Calculated
Things to notice
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Book investments changed
Investment / intangible book value 600.0k NOK → 15.0k NOK. Reported fact