ADITECH AS: årsregnskap 2011 vs 2010
Shrank 37% on revenue, cash halved-plus
approved 2012-08-24; registry 2012-09-13; journal 2012 767560
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ADITECH AS. Revenue 4.45m NOK → 2.79m NOK (-37.4%). Equity 385.1k NOK → 16.4k NOK.
Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ADITECH AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 4.45m NOK to 2.79m NOK (-37.4% YoY). Calculated
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↓
Operating result weakened
Operating result -259.9k NOK → -367.2k NOK (op. margin -5.8% → -13.2%). Calculated
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↓
Equity eroded
Book equity 385.1k NOK → 16.4k NOK (equity ratio 31.5% → 2.2%). Calculated
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↓
Cash fell
Bank deposits 818.0k NOK → 240.9k NOK (-70.6% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 1.11m NOK → 2.14m NOK (25% → 77% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 2.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 3.15m NOK → 1.65m NOK (-47.7% YoY). Calculated