ADDOVATION AS: årsregnskap 2010 vs 2009
Grew 51% on revenue, fresh owner capital
approved 2011-04-08; registry 2011-04-11; journal 2011 336047
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for ADDOVATION AS. Revenue 6.25m NOK → 9.47m NOK (+51.5%). Equity 980.5k NOK → 120.7k NOK.
On the constructive side: revenue rose; operating result improved; owners injected capital. Pressures included: equity eroded.
Also worth watching: thin equity buffer; payroll increased. All figures are taken from the published annual accounts for ADDOVATION AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 6.25m NOK to 9.47m NOK (+51.5% YoY). Calculated
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↑
Operating result improved
Operating result +672.8k NOK → +2.63m NOK (op. margin 10.8% → 27.7%). Calculated
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↑
Owners injected capital
Paid-in equity rose 354 NOK → 352.0k NOK (+351.6k NOK). Reported fact
What deteriorated
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↓
Equity eroded
Book equity 980.5k NOK → 120.7k NOK (equity ratio 26.2% → 2.2%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 2.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 3.41m NOK → 5.05m NOK (54% → 53% of revenue). Calculated