ADMIT AS: årsregnskap 2003 vs 2002
Shrank 29% on revenue
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ADMIT AS. Revenue 2.22m NOK → 1.59m NOK (-28.5%). Net result +120.4k NOK → +108.1k NOK. Equity 139.9k NOK → 31.7k NOK.
On the constructive side: operating result improved. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ADMIT AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +125.6k NOK → +130.5k NOK (op. margin 5.7% → 8.2%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.22m NOK to 1.59m NOK (-28.5% YoY). Calculated
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↓
Net result weakened
Net result +120.4k NOK → +108.1k NOK (net margin 5.4% → 6.8%). Calculated
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↓
Equity eroded
Book equity 139.9k NOK → 31.7k NOK (equity ratio 17.8% → 5.0%). Calculated
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↓
Payroll up without matching revenue
Salary cost 985.7k NOK → 1.90m NOK (44% → 119% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 5.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 92.4k NOK → 45.1k NOK (-51.2% YoY). Calculated