ADMIRATION AS: årsregnskap 2023 vs 2022
Shrank 21% on revenue, weaker earnings, cash halved-plus
approved 2024-07-31; registry 2024-08-03; journal 2024 714571
Summary
What changed
Comparing Årsregnskap 2023 with 2022 for ADMIRATION AS. Revenue 2.09m NOK → 1.64m NOK (-21.4%). Net result +190.0k NOK → +39.4k NOK. Equity -501.6k NOK → -462.2k NOK.
On the constructive side: equity strengthened. Pressures included: revenue fell; operating result weakened; net result weakened.
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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↑
Equity strengthened
Book equity -501.6k NOK → -462.2k NOK (equity ratio -95.4% → -110.0%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.09m NOK to 1.64m NOK (-21.4% YoY). Calculated
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↓
Operating result weakened
Operating result +299.7k NOK → +84.3k NOK (op. margin 14.3% → 5.1%). Calculated
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↓
Net result weakened
Net result +190.0k NOK → +39.4k NOK (net margin 9.1% → 2.4%). Calculated
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↓
Cash fell
Bank deposits 215.9k NOK → 49.8k NOK (-76.9% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -110.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation