ADRETT AS: årsregnskap 2013 vs 2012
Grew 60% on revenue, stronger earnings, cash halved-plus
approved 2014-03-18; registry 2014-05-15; journal 2014 399544
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for ADRETT AS. Revenue 3.67m NOK → 5.88m NOK (+60.2%). Net result +357.8k NOK → +690.4k NOK. Equity 745.3k NOK → 35.7k NOK.
On the constructive side: revenue rose; operating result improved; 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 ADRETT AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 3.67m NOK to 5.88m NOK (+60.2% YoY). Calculated
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↑
Operating result improved
Operating result +506.0k NOK → +964.7k NOK (op. margin 13.8% → 16.4%). Calculated
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Net result improved
Net result +357.8k NOK → +690.4k NOK (net margin 9.7% → 11.7%). Calculated
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Current ratio back above 1×
Current ratio 0.80× → 6.47×. Calculated
What deteriorated
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↓
Equity eroded
Book equity 745.3k NOK → 35.7k NOK (equity ratio 129.5% → 5.7%). Calculated
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↓
Cash fell
Bank deposits 892.4k NOK → 368.6k NOK (-58.7% 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 1.06m NOK → 2.01m NOK (29% → 34% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 320.2k NOK → 2.02m NOK (+531.0% YoY). Calculated