ADRIATIC + AS: årsregnskap 2019 vs 2018
Grew 24% on revenue, stronger earnings, cash halved-plus
approved 2020-06-16; registry 2020-08-25; journal 2020 694108
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ADRIATIC + AS. Revenue 3.16m NOK → 3.92m NOK (+23.9%). Net result +366.8k NOK → +751.8k NOK. Equity -1.73m NOK → -2.48m 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 ADRIATIC + AS.
At a glance
Scorecard
What improved
-
↑
Revenue rose
Operating income / revenue moved from 3.16m NOK to 3.92m NOK (+23.9% YoY). Calculated
-
↑
Net result improved
Net result +366.8k NOK → +751.8k NOK (net margin 11.6% → 19.2%). Calculated
What deteriorated
-
↓
Equity eroded
Book equity -1.73m NOK → -2.48m NOK (equity ratio -264.8% → -1839.3%). Calculated
-
↓
Cash fell
Bank deposits 29.4k NOK → 12.0k NOK (-59.2% YoY). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is -1839.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Payroll increased
Salary cost 1.32m NOK → 2.02m NOK (42% → 51% of revenue). Calculated
-
·
COGS moved
COGS / varekostnad 156.3k NOK → 1.32m NOK (+747.5% YoY). Calculated