ADOLF HORNELAND AS: årsregnskap 2014 vs 2013
Weaker earnings
approved 2015-03-25; registry 2015-04-04; journal 2015 341407
Summary
What changed
Comparing Årsregnskap 2014 with 2013 for ADOLF HORNELAND AS. Revenue 629.1k NOK → 637.8k NOK (+1.4%). Net result +706.9k NOK → +441.9k NOK. Equity 5.19m NOK → 4.96m NOK.
On the constructive side: revenue rose; operating result improved. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: paid-in equity reduced; payroll increased; book investments changed. All figures are taken from the published annual accounts for ADOLF HORNELAND AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 629.1k NOK to 637.8k NOK (+1.4% YoY). Calculated
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↑
Operating result improved
Operating result +329.1k NOK → +380.6k NOK (op. margin 52.3% → 59.7%). Calculated
What deteriorated
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↓
Net result weakened
Net result +706.9k NOK → +441.9k NOK (net margin 112.4% → 69.3%). Calculated
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↓
Equity eroded
Book equity 5.19m NOK → 4.96m NOK (equity ratio 81.5% → 80.3%). Calculated
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↓
Cash fell
Bank deposits 601.0k NOK → 473.7k NOK (-21.2% YoY). Calculated
Things to notice
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·
Paid-in equity reduced
Paid-in equity fell 400.0k NOK → 30.0k NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
Payroll increased
Salary cost 564.6k NOK → 619.6k NOK (90% → 97% of revenue). Calculated
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·
Book investments changed
Investment / intangible book value 5.13m NOK → 138.4k NOK. Reported fact