ADECCO NORGE AS: årsregnskap 2018 vs 2017
Grew 16% on revenue, cash halved-plus
approved 2019-05-27; registry 2019-07-27; journal 2019 798264
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADECCO NORGE AS. Revenue 2.23bn NOK → 2.58bn NOK (+15.7%). Equity 263.20m NOK → 221.10m NOK.
On the constructive side: revenue rose; current ratio back above 1×. Pressures included: equity eroded; cash fell.
Also worth watching: sharp cash drawdown; paid-in equity reduced; payroll increased. All figures are taken from the published annual accounts for ADECCO NORGE AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 2.23bn NOK to 2.58bn NOK (+15.7% YoY). Calculated
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↑
Current ratio back above 1×
Current ratio 0.95× → 1.04×. Calculated
What deteriorated
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↓
Equity eroded
Book equity 263.20m NOK → 221.10m NOK (equity ratio 25.0% → 25.0%). Calculated
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↓
Cash fell
Bank deposits 95.37m NOK → 31.52m NOK (-66.9% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (95.37m NOK → 31.52m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Paid-in equity reduced
Paid-in equity fell 263.20m NOK → 221.10m NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
Payroll increased
Salary cost 9 NOK → 1.95m NOK (0% → 0% of revenue). Calculated