ADIGO RENEWABLES AS: årsregnskap 2023 vs 2022
Shrank 15% on revenue, weaker earnings, cash halved-plus
approved 2024-08-30; registry 2024-09-05; journal 2024 743105
Summary
What changed
Comparing Årsregnskap 2023 with 2022 for ADIGO RENEWABLES AS. Revenue 11.44m NOK → 9.72m NOK (-15.0%). Net result -549.4k NOK → -667.7k NOK. Equity -522.8k NOK → -1.19m NOK.
On the constructive side: operating result improved. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: thin equity buffer; sharp cash drawdown; cogs fell. All figures are taken from the published annual accounts for ADIGO RENEWABLES AS.
At a glance
Scorecard
What improved
-
↑
Operating result improved
Operating result -520.06m NOK → -219.1k NOK (op. margin -4547.7% → -2.3%). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 11.44m NOK to 9.72m NOK (-15.0% YoY). Calculated
-
↓
Net result weakened
Net result -549.4k NOK → -667.7k NOK (net margin -4.8% → -6.9%). Calculated
-
↓
Equity eroded
Book equity -522.8k NOK → -1.19m NOK (equity ratio -7.5% → -20.2%). Calculated
-
↓
Cash fell
Bank deposits 2.02m NOK → 110.3k NOK (-94.5% YoY). Calculated
-
↓
Payroll up without matching revenue
Salary cost 3.55m NOK → 3.64m NOK (31% → 37% of revenue). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is -20.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Sharp cash drawdown
Cash fell by more than 60% YoY (2.02m NOK → 110.3k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
-
·
COGS fell
COGS / varekostnad 6.81m NOK → 5.36m NOK (-21.4% YoY). Calculated