ADECCO GROUP NORWAY AS: årsregnskap 2008 vs 2007
Grew 16% on revenue, cash halved-plus, fresh owner capital
approved 2009-05-22; registry 2009-07-04
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for ADECCO GROUP NORWAY AS. Revenue 423.8k NOK → 493.2k NOK (+16.4%). Equity 20.8k NOK → 41.77m NOK.
On the constructive side: revenue rose; equity strengthened; owners injected capital. Pressures included: cash fell; current ratio dropped below 1×.
Also worth watching: sharp cash drawdown; book investments changed. All figures are taken from the published annual accounts for ADECCO GROUP NORWAY AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 423.8k NOK to 493.2k NOK (+16.4% YoY). Calculated
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↑
Equity strengthened
Book equity 20.8k NOK → 41.77m NOK (equity ratio 10.0% → 7434.5%). Calculated
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↑
Owners injected capital
Paid-in equity rose 17.2k NOK → 40.03m NOK (+40.01m NOK). Reported fact
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↑
Payroll decreased
Salary cost 387.32m NOK → 7.45m NOK (91392% → 1511% of revenue). Calculated
What deteriorated
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↓
Cash fell
Bank deposits 15.29m NOK → 0 NOK (-100.0% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.11× → 0.00× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (15.29m NOK → 0 NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Book investments changed
Investment / intangible book value 875 NOK → 240.0k NOK. Reported fact