ADDEND AS: årsregnskap 2010 vs 2009
Weaker earnings, cash halved-plus
approved 2011-06-03; registry 2011-09-03; journal 2011 687854
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for ADDEND AS. Revenue 293.5k NOK → 302.6k NOK (+3.1%). Net result +565.3k NOK → +371.9k NOK. Equity 747.3k NOK → 1 119 NOK.
On the constructive side: revenue rose. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADDEND AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 293.5k NOK to 302.6k NOK (+3.1% YoY). Calculated
What deteriorated
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↓
Net result weakened
Net result +565.3k NOK → +371.9k NOK (net margin 192.6% → 122.9%). Calculated
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↓
Equity eroded
Book equity 747.3k NOK → 1 119 NOK (equity ratio 37.4% → 0.0%). Calculated
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↓
Cash fell
Bank deposits 80.8k NOK → 32.1k NOK (-60.3% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.36× → 0.53× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation