ADNOVA AS: årsregnskap 2019 vs 2018
Shrank 15% on revenue, weaker earnings
approved 2020-07-27; registry 2020-09-30; journal 2020 878003
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ADNOVA AS. Revenue 1.48m NOK → 1.27m NOK (-14.5%). Net result -44.5k NOK → -160.7k NOK. Equity 83.2k NOK → -77.5k NOK.
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 ADNOVA AS.
At a glance
Scorecard
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 1.48m NOK to 1.27m NOK (-14.5% YoY). Calculated
-
↓
Operating result weakened
Operating result -57.4k NOK → -160.9k NOK (op. margin -3.9% → -12.7%). Calculated
-
↓
Net result weakened
Net result -44.5k NOK → -160.7k NOK (net margin -3.0% → -12.7%). Calculated
-
↓
Equity eroded
Book equity 83.2k NOK → -77.5k NOK (equity ratio 20.6% → -32.5%). Calculated
-
↓
Cash fell
Bank deposits 404.0k NOK → 229.1k NOK (-43.3% YoY). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is -32.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation