ADM AS: årsregnskap 2003 vs 2002
Another loss-making year
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ADM AS. Revenue 1.22m NOK → 1.23m NOK (+0.2%). Equity 189.0k NOK → 179.1k NOK.
On the constructive side: revenue rose. Pressures included: operating result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADM AS.
At a glance
Scorecard
Revenue
1.22m NOK
1.23m NOK
+0.2%
Operating result
+187.5k NOK
+140.0k NOK
-25.3%
Net result
n/m
-9 906 NOK
—
Equity
189.0k NOK
179.1k NOK
-5.2%
Total assets
1.88m NOK
1.94m NOK
+3.1%
What improved
-
↑
Revenue rose
Operating income / revenue moved from 1.22m NOK to 1.23m NOK (+0.2% YoY). Calculated
What deteriorated
-
↓
Operating result weakened
Operating result +187.5k NOK → +140.0k NOK (op. margin 15.3% → 11.4%). Calculated
-
↓
Equity eroded
Book equity 189.0k NOK → 179.1k NOK (equity ratio 10.1% → 9.2%). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is 9.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation