ADECCO GROUP NORWAY AS: årsregnskap 2020 vs 2019
Grew 79537% on revenue, returned to profit
approved 2021-05-28; registry 2021-06-28; journal 2021 400455
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ADECCO GROUP NORWAY AS. Revenue 392.5k NOK → 312.55m NOK (+79536.9%). Net result -50.79m NOK → +13.26m NOK. Equity 658.28m NOK → 671.5k NOK.
On the constructive side: revenue rose; operating result improved; turned profitable. Pressures included: equity eroded.
Also worth watching: thin equity buffer; 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 392.5k NOK to 312.55m NOK (+79536.9% YoY). Calculated
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↑
Operating result improved
Operating result +14.01m NOK → +21.36m NOK (op. margin 3568.4% → 6.8%). Calculated
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Turned profitable
Net result flipped from a loss of 50.79m NOK to a profit of 13.26m NOK. Calculated
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↑
Payroll decreased
Salary cost 7.32m NOK → 7.25m NOK (1865% → 2% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity 658.28m NOK → 671.5k NOK (equity ratio 50.7% → 0.1%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 461.0k NOK → 1 NOK. Reported fact