ADMIRAL P AS: årsregnskap 2017 vs 2016
Grew 19% on revenue, weaker earnings, cash halved-plus
approved 2018-06-30; registry 2018-07-25; journal 2018 774202
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for ADMIRAL P AS. Revenue 2.73m NOK → 3.25m NOK (+18.9%). Net result +581.4k NOK → +140.3k NOK. Equity -196.3k NOK → -336.6k NOK.
On the constructive side: revenue rose; owners injected capital. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for ADMIRAL P AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 2.73m NOK to 3.25m NOK (+18.9% YoY). Calculated
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Owners injected capital
Paid-in equity rose 20.3k NOK → 30.0k NOK (+9 695 NOK). Reported fact
What deteriorated
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↓
Operating result weakened
Operating result +772.0k NOK → -178.4k NOK (op. margin 28.3% → -5.5%). Calculated
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↓
Net result weakened
Net result +581.4k NOK → +140.3k NOK (net margin 21.3% → 4.3%). Calculated
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↓
Equity eroded
Book equity -196.3k NOK → -336.6k NOK (equity ratio -68.1% → -236.7%). Calculated
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↓
Cash fell
Bank deposits 188.9k NOK → 94.3k NOK (-50.1% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -236.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 1 575 NOK → 1.86m NOK (0% → 57% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 328.2k NOK → 1.34m NOK (+308.6% YoY). Calculated