ADDOVATION AS: årsregnskap 2019 vs 2018
Grew 10% on revenue, weaker earnings
approved 2020-05-29; registry 2020-07-21; journal 2020 595906
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ADDOVATION AS. Revenue 52.51m NOK → 57.74m NOK (+10.0%). Net result +8.98m NOK → +5.48m NOK. Equity 10.99m NOK → 16.47m NOK.
On the constructive side: revenue rose; operating result improved; equity strengthened. Pressures included: net result weakened.
Also worth watching: payroll increased; cogs moved; book investments changed. 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 52.51m NOK to 57.74m NOK (+10.0% YoY). Calculated
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↑
Operating result improved
Operating result +733.2k NOK → +7.19m NOK (op. margin 1.4% → 12.5%). Calculated
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↑
Equity strengthened
Book equity 10.99m NOK → 16.47m NOK (equity ratio 41.7% → 52.8%). Calculated
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↑
Cash rose
Bank deposits 4.40m NOK → 9.45m NOK (+114.5% YoY). Calculated
What deteriorated
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↓
Net result weakened
Net result +8.98m NOK → +5.48m NOK (net margin 17.1% → 9.5%). Calculated
Things to notice
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·
Payroll increased
Salary cost 24.69m NOK → 58.98m NOK (47% → 102% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 12.55m NOK → 13.81m NOK (+10.0% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 188.0k NOK → 2.11m NOK. Reported fact