ADEA AS: årsregnskap 2017 vs 2016
Shrank 7% on revenue, weaker earnings
approved 2018-05-08; registry 2018-05-26; journal 2018 362160
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for ADEA AS. Revenue 3.17m NOK → 2.95m NOK (-6.9%). Net result -47.5k NOK → -309.6k NOK. Equity 109.2k NOK → -176.7k NOK.
On the constructive side: cash rose. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; paid-in equity reduced; book investments changed. All figures are taken from the published annual accounts for ADEA AS.
At a glance
Scorecard
What improved
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↑
Cash rose
Bank deposits 52.2k NOK → 176.4k NOK (+238.0% YoY). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 3.17m NOK to 2.95m NOK (-6.9% YoY). Calculated
-
↓
Operating result weakened
Operating result -24.7k NOK → -367.5k NOK (op. margin -0.8% → -12.4%). Calculated
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↓
Net result weakened
Net result -47.5k NOK → -309.6k NOK (net margin -1.5% → -10.5%). Calculated
-
↓
Equity eroded
Book equity 109.2k NOK → -176.7k NOK (equity ratio 11.3% → -19.8%). Calculated
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↓
Payroll up without matching revenue
Salary cost 1.74m NOK → 2.00m NOK (55% → 68% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -19.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Paid-in equity reduced
Paid-in equity fell 109.2k NOK → 100.0k NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
Book investments changed
Investment / intangible book value 39.1k NOK → 39 NOK. Reported fact