ADEO AS: årsregnskap 2013 vs 2012
Stronger earnings
approved 2014-03-31; registry 2014-05-05; journal 2014 377356
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for ADEO AS. Revenue 607.3k NOK → 584.5k NOK (-3.8%). Net result +174.6k NOK → +93.73m NOK. Equity 986.4k NOK → 80.1k NOK.
On the constructive side: net result improved; cash rose. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ADEO AS.
At a glance
Scorecard
What improved
-
↑
Net result improved
Net result +174.6k NOK → +93.73m NOK (net margin 28.8% → 16035.5%). Calculated
-
↑
Cash rose
Bank deposits 903 NOK → 308.7k NOK (+34081.5% YoY). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 607.3k NOK to 584.5k NOK (-3.8% YoY). Calculated
-
↓
Operating result weakened
Operating result +174.5k NOK → +121.4k NOK (op. margin 28.7% → 20.8%). Calculated
-
↓
Equity eroded
Book equity 986.4k NOK → 80.1k NOK (equity ratio 74.7% → 4.0%). Calculated
-
↓
COGS moved
COGS / varekostnad 15.0k NOK → 51.1k NOK (+240.4% YoY). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is 4.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Book investments changed
Investment / intangible book value 600.4k NOK → 655.4k NOK. Reported fact