ADR ELEKTRO AS: årsregnskap 2019 vs 2018
Grew 47% on revenue, stronger earnings
approved 2020-05-13; registry 2020-06-02; journal 2020 380864
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ADR ELEKTRO AS. Revenue 11.58m NOK → 17.06m NOK (+47.4%). Net result +204.0k NOK → +814.3k NOK. Equity 479.1k NOK → 293.5k NOK.
On the constructive side: revenue rose; net result improved. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for ADR ELEKTRO AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 11.58m NOK to 17.06m NOK (+47.4% YoY). Calculated
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Net result improved
Net result +204.0k NOK → +814.3k NOK (net margin 1.8% → 4.8%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 479.1k NOK → 293.5k NOK (equity ratio 16.9% → 5.7%). Calculated
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↓
Cash fell
Bank deposits 969.9k NOK → 966.1k NOK (-0.4% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 5.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 5.91m NOK → 7.05m NOK (51% → 41% of revenue). Calculated
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COGS moved
COGS / varekostnad 3.38m NOK → 5.40m NOK (+60.0% YoY). Calculated
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Book investments changed
Investment / intangible book value 80.7k NOK → 43.8k NOK. Reported fact