ADMIRATION AS: årsregnskap 2022 vs 2021
Grew 232% on revenue, weaker earnings
approved 2023-08-03; registry 2023-08-14; journal 2023 707945
Summary
What changed
Comparing Årsregnskap 2022 with 2021 for ADMIRATION AS. Revenue 630.6k NOK → 2.09m NOK (+231.9%). Net result +272.8k NOK → +190.0k NOK. Equity -391.7k NOK → -501.6k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADMIRATION AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 630.6k NOK to 2.09m NOK (+231.9% YoY). Calculated
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↑
Payroll decreased
Salary cost 1.78m NOK → 1.37m NOK (282% → 65% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +396.6k NOK → +299.7k NOK (op. margin 62.9% → 14.3%). Calculated
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↓
Net result weakened
Net result +272.8k NOK → +190.0k NOK (net margin 43.3% → 9.1%). Calculated
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↓
Equity eroded
Book equity -391.7k NOK → -501.6k NOK (equity ratio -44.8% → -95.4%). Calculated
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↓
Cash fell
Bank deposits 227.8k NOK → 215.9k NOK (-5.2% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -95.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation