ADITECH AS: årsregnskap 2020 vs 2019
Grew 14% on revenue, stronger earnings
approved 2021-07-22; registry 2021-07-29; journal 2021 596206
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ADITECH AS. Revenue 223.0k NOK → 253.7k NOK (+13.8%). Net result -126.3k NOK → -26.1k NOK. Equity 30.4k NOK → 4 315 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; cogs moved. All figures are taken from the published annual accounts for ADITECH AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 223.0k NOK to 253.7k NOK (+13.8% YoY). Calculated
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Operating result improved
Operating result -121.3k NOK → -25.2k NOK (op. margin -54.4% → -9.9%). Calculated
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Net result improved
Net result -126.3k NOK → -26.1k NOK (net margin -56.6% → -10.3%). Calculated
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Payroll decreased
Salary cost 239.3k NOK → 171.4k NOK (107% → 68% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity 30.4k NOK → 4 315 NOK (equity ratio 12.5% → 2.6%). Calculated
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↓
Cash fell
Bank deposits 219.4k NOK → 139.4k NOK (-36.5% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 2.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS moved
COGS / varekostnad 36.2k NOK → 64.7k NOK (+78.5% YoY). Calculated