ADD VALUE AS: årsregnskap 2004 vs 2003
Shrank 49% on revenue, weaker earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ADD VALUE AS. Revenue 445.1k NOK → 226.0k NOK (-49.2%). Net result +116.0k NOK → +37.1k NOK. Equity 3.12m NOK → 3.08m NOK.
Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: paid-in equity reduced; book investments changed. All figures are taken from the published annual accounts for ADD VALUE AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 445.1k NOK to 226.0k NOK (-49.2% YoY). Calculated
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Operating result weakened
Operating result +126.5k NOK → +51.7k NOK (op. margin 28.4% → 22.9%). Calculated
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↓
Net result weakened
Net result +116.0k NOK → +37.1k NOK (net margin 26.1% → 16.4%). Calculated
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↓
Equity eroded
Book equity 3.12m NOK → 3.08m NOK (equity ratio 70.0% → 70.9%). Calculated
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Cash fell
Bank deposits 171.6k NOK → 75.9k NOK (-55.8% YoY). Calculated
Things to notice
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Paid-in equity reduced
Paid-in equity fell 3.12m NOK → 3.08m NOK — check capital reduction, conversion, or reclassification. Interpretation
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Book investments changed
Investment / intangible book value 3.59m NOK → 3.79m NOK. Reported fact