ADREGA AS: årsregnskap 2017 vs 2016
Shrank 5% on revenue, stronger earnings
approved 2018-06-21; registry 2018-07-14; journal 2018 684994
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for ADREGA AS. Revenue 2.18m NOK → 2.07m NOK (-5.0%). Net result +3 463 NOK → +3.24m NOK. Equity -40.69m NOK → -43.93m NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADREGA AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +200 NOK → +3 233 NOK (op. margin 0.0% → 0.2%). Calculated
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Net result improved
Net result +3 463 NOK → +3.24m NOK (net margin 0.2% → 156.5%). Calculated
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Payroll decreased
Salary cost 3.80m NOK → 3.09m NOK (174% → 149% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.18m NOK to 2.07m NOK (-5.0% YoY). Calculated
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↓
Equity eroded
Book equity -40.69m NOK → -43.93m NOK (equity ratio -5901.3% → -6752.3%). Calculated
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Cash fell
Bank deposits 297.5k NOK → 239.1k NOK (-19.6% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -6752.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation