Org.nr 979 953 046 2008 → 2009 Year-over-year analysis

ADOBE SYSTEMS NORGE AS: årsregnskap 2009 vs 2008

Shrank 16% on revenue

Summary

What changed

Comparing Årsregnskap 2009 with 2008 for ADOBE SYSTEMS NORGE AS. Revenue 7.87m NOK → 6.62m NOK (-15.8%). Equity 367.12m NOK → 1 122 NOK.

On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.

Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADOBE SYSTEMS NORGE AS.

At a glance

Revenue

7.87m NOK 6.62m NOK

-15.8%

Operating result

+1.91m NOK +1.64m NOK

-14.2%

Equity

367.12m NOK 1 122 NOK

-100.0%

Cash

4.20m NOK n/m

—

Total assets

5.43m NOK 5.82m NOK

+7.2%

↑
Payroll decreased

Salary cost 3.82m NOK → 3.38m NOK (49% → 51% of revenue). Calculated

↓
Revenue fell

Operating income / revenue moved from 7.87m NOK to 6.62m NOK (-15.8% YoY). Calculated
↓
Operating result weakened

Operating result +1.91m NOK → +1.64m NOK (op. margin 24.3% → 24.8%). Calculated
↓
Equity eroded

Book equity 367.12m NOK → 1 122 NOK (equity ratio 6758.7% → 0.0%). Calculated

·
Thin equity buffer

Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation