ADIDAS NORGE AS: årsregnskap 2020 vs 2019
Shrank 20% on revenue, cash halved-plus
approved 2021-08-26; registry 2021-10-30; journal 2021 885752
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ADIDAS NORGE AS. Revenue 637.38m NOK → 511.46m NOK (-19.8%). Net result +12.74m NOK → +11.16m NOK. Equity 19.51m NOK → 19.67m NOK.
On the constructive side: equity strengthened; current ratio back above 1×. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: sharp cash drawdown; paid-in equity reduced. All figures are taken from the published annual accounts for ADIDAS NORGE AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity 19.51m NOK → 19.67m NOK (equity ratio 13.7% → 11.5%). Calculated
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↑
Current ratio back above 1×
Current ratio 0.98× → 1.04×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 637.38m NOK to 511.46m NOK (-19.8% YoY). Calculated
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↓
Operating result weakened
Operating result +17.65m NOK → +15.97m NOK (op. margin 2.8% → 3.1%). Calculated
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↓
Net result weakened
Net result +12.74m NOK → +11.16m NOK (net margin 2.0% → 2.2%). Calculated
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↓
Cash fell
Bank deposits 2.50m NOK → 411.6k NOK (-83.6% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 24.37m NOK → 27.69m NOK (4% → 5% of revenue). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (2.50m NOK → 411.6k 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 13.25m NOK → 11.93m NOK — check capital reduction, conversion, or reclassification. Interpretation