ADRENALIN AS: årsregnskap 2002 vs 2001
Shrank 53% on revenue, slipped into loss, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2002 with 2001 for ADRENALIN AS. Revenue 659.5k NOK → 310.7k NOK (-52.9%). Net result +4 369 NOK → -132.0k NOK. Equity 118.4k NOK → -13.6k NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADRENALIN AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 508.0k NOK → 304.2k NOK (77% → 98% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 659.5k NOK to 310.7k NOK (-52.9% YoY). Calculated
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↓
Operating result weakened
Operating result -23.9k NOK → -180.9k NOK (op. margin -3.6% → -58.2%). Calculated
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↓
Fell into a net loss
Net result flipped from 4 369 NOK profit to a loss of 132.0k NOK. Calculated
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↓
Equity eroded
Book equity 118.4k NOK → -13.6k NOK (equity ratio 35.6% → -24.0%). Calculated
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↓
Cash fell
Bank deposits 72.6k NOK → 4 584 NOK (-93.7% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -24.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation