ADECCO NORGE AS: årsregnskap 2013 vs 2012
Shrank 8% on revenue, cash halved-plus
approved 2014-05-26; registry 2014-09-02; journal 2014 753083
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for ADECCO NORGE AS. Revenue 1.92bn NOK → 1.77bn NOK (-8.0%). Equity 282.70m NOK → 276.17m NOK.
On the constructive side: owners injected capital; payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: sharp cash drawdown. All figures are taken from the published annual accounts for ADECCO NORGE AS.
At a glance
Scorecard
What improved
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↑
Owners injected capital
Paid-in equity rose 223.6k NOK → 242.5k NOK (+18.9k NOK). Reported fact
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↑
Payroll decreased
Salary cost 8.48m NOK → 9 NOK (0% → 0% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 1.92bn NOK to 1.77bn NOK (-8.0% YoY). Calculated
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↓
Operating result weakened
Operating result -38.51m NOK → -42.30m NOK (op. margin -2.0% → -2.4%). Calculated
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↓
Equity eroded
Book equity 282.70m NOK → 276.17m NOK (equity ratio 25.9% → 26.1%). Calculated
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↓
Cash fell
Bank deposits 95.58m NOK → 28.12m NOK (-70.6% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (95.58m NOK → 28.12m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation