ADFORM NORWAY AS: årsregnskap 2021 vs 2020
Grew 34% on revenue, stronger earnings, cash halved-plus
approved 2022-06-28; registry 2022-07-25; journal 2022 707052
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for ADFORM NORWAY AS. Revenue 8.16m NOK → 10.91m NOK (+33.8%). Net result +402.3k NOK → +503.7k NOK. Equity 530.6k NOK → 128.3k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADFORM NORWAY AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 8.16m NOK to 10.91m NOK (+33.8% YoY). Calculated
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↑
Operating result improved
Operating result +555.5k NOK → +673.3k NOK (op. margin 6.8% → 6.2%). Calculated
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↑
Net result improved
Net result +402.3k NOK → +503.7k NOK (net margin 4.9% → 4.6%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 530.6k NOK → 128.3k NOK (equity ratio 20.6% → 5.1%). Calculated
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↓
Cash fell
Bank deposits 81.3k NOK → -128.1k NOK (-257.6% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 5.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation