ADELSMANN AS: årsregnskap 2004 vs 2003
Grew 7% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ADELSMANN AS. Revenue 2.73m NOK → 2.91m NOK (+6.6%). Net result +40.2k NOK → +10.5k NOK. Equity 160.3k NOK → 160.8k NOK.
On the constructive side: revenue rose; current ratio back above 1×. Pressures included: operating result weakened; net result weakened.
Also worth watching: payroll increased; cogs moved. All figures are taken from the published annual accounts for ADELSMANN AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 2.73m NOK to 2.91m NOK (+6.6% YoY). Calculated
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↑
Current ratio back above 1×
Current ratio 0.21× → 1.49×. Calculated
What deteriorated
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↓
Operating result weakened
Operating result +95.0k NOK → +58.1k NOK (op. margin 3.5% → 2.0%). Calculated
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↓
Net result weakened
Net result +40.2k NOK → +10.5k NOK (net margin 1.5% → 0.4%). Calculated
Things to notice
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·
Payroll increased
Salary cost 694.9k NOK → 733.1k NOK (25% → 25% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 459.6k NOK → 1.53m NOK (+232.1% YoY). Calculated