ADIDAS NORGE AS: årsregnskap 2003 vs 2002
Shrank 14% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ADIDAS NORGE AS. Revenue 324.16m NOK → 279.86m NOK (-13.7%). Net result -9.11m NOK → -19.01m NOK.
On the constructive side: cash rose; payroll decreased. Pressures included: revenue fell; net result weakened.
Mixed year — gains and pressures both show up.
At a glance
Scorecard
Revenue
324.16m NOK
279.86m NOK
-13.7%
Operating result
-19.77m NOK
n/m
—
Net result
-9.11m NOK
-19.01m NOK
-108.7%
Equity
50.72m NOK
n/m
—
Cash
6.60m NOK
26.95m NOK
+308.4%
Total assets
n/m
81.39m NOK
—
What improved
-
↑
Cash rose
Bank deposits 6.60m NOK → 26.95m NOK (+308.4% YoY). Calculated
-
↑
Payroll decreased
Salary cost 42.28m NOK → 30.77m NOK (13% → 11% of revenue). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 324.16m NOK to 279.86m NOK (-13.7% YoY). Calculated
-
↓
Net result weakened
Net result -9.11m NOK → -19.01m NOK (net margin -2.8% → -6.8%). Calculated