ADEA AS: årsregnskap 2018 vs 2017
Stronger earnings
approved 2019-05-28; registry 2019-07-10; journal 2019 674498
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADEA AS. Revenue 2.95m NOK → 2.82m NOK (-4.5%). Net result -309.6k NOK → -190.1k NOK. Equity -176.7k NOK → -191.3k NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADEA AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -367.5k NOK → -210.8k NOK (op. margin -12.4% → -7.5%). Calculated
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↑
Net result improved
Net result -309.6k NOK → -190.1k NOK (net margin -10.5% → -6.7%). Calculated
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Payroll decreased
Salary cost 2.00m NOK → 1.73m NOK (68% → 61% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.95m NOK to 2.82m NOK (-4.5% YoY). Calculated
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↓
Equity eroded
Book equity -176.7k NOK → -191.3k NOK (equity ratio -19.8% → -25.9%). Calculated
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↓
Cash fell
Bank deposits 176.4k NOK → 114.3k NOK (-35.2% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -25.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation