ADKEM NORDIC AS: årsregnskap 2019 vs 2018
Shrank 21% on revenue, returned to profit, fresh owner capital
approved 2021-09-10; registry 2021-09-13; journal 2021 753451
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ADKEM NORDIC AS. Revenue 484.1k NOK → 384.6k NOK (-20.5%). Net result -99.3k NOK → +65.3k NOK. Equity -641.2k NOK → -575.9k NOK.
On the constructive side: operating result improved; turned profitable; equity strengthened. Pressures included: revenue fell; cash fell; payroll up without matching revenue.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ADKEM NORDIC AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -57.4k NOK → +120.7k NOK (op. margin -11.9% → 31.4%). Calculated
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Turned profitable
Net result flipped from a loss of 99.3k NOK to a profit of 65.3k NOK. Calculated
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Equity strengthened
Book equity -641.2k NOK → -575.9k NOK (equity ratio -418.9% → -1493.6%). Calculated
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Owners injected capital
Paid-in equity rose 2 334 NOK → 1.00m NOK (+1.00m NOK). Reported fact
What deteriorated
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Revenue fell
Operating income / revenue moved from 484.1k NOK to 384.6k NOK (-20.5% YoY). Calculated
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Cash fell
Bank deposits 18.1k NOK → 10.7k NOK (-41.1% YoY). Calculated
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Payroll up without matching revenue
Salary cost 24.5k NOK → 72.5k NOK (5% → 19% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -1493.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 269.9k NOK → 19.6k NOK (-92.7% YoY). Calculated