ADR ELEKTRO AS: årsregnskap 2021 vs 2020
Grew 18% on revenue, returned to profit
approved 2022-06-29; registry 2022-07-27; journal 2022 720074
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for ADR ELEKTRO AS. Revenue 14.12m NOK → 16.68m NOK (+18.1%). Net result -77.6k NOK → +302.8k NOK. Equity 1.42m NOK → 318.7k NOK.
On the constructive side: revenue rose; operating result improved; turned profitable. Pressures included: equity eroded; cash fell; current ratio dropped below 1×.
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 14.12m NOK to 16.68m NOK (+18.1% YoY). Calculated
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Operating result improved
Operating result -92.8k NOK → +390.7k NOK (op. margin -0.7% → 2.3%). Calculated
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Turned profitable
Net result flipped from a loss of 77.6k NOK to a profit of 302.8k NOK. Calculated
What deteriorated
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↓
Equity eroded
Book equity 1.42m NOK → 318.7k NOK (equity ratio 32.5% → 6.6%). Calculated
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↓
Cash fell
Bank deposits 926.0k NOK → 665.7k NOK (-28.1% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.38× → 0.98× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is 6.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 7.45m NOK → 8.19m NOK (53% → 49% of revenue). Calculated
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COGS moved
COGS / varekostnad 4.36m NOK → 5.49m NOK (+26.0% YoY). Calculated
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Book investments changed
Investment / intangible book value 27.1k NOK → 154.5k NOK. Reported fact