ADRIATIC + AS: årsregnskap 2020 vs 2019
Grew 33% on revenue, weaker earnings, cash halved-plus
approved 2021-06-02; registry 2021-08-23; journal 2021 671288
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ADRIATIC + AS. Revenue 3.92m NOK → 5.23m NOK (+33.4%). Net result +751.8k NOK → +423.4k NOK. Equity -2.48m NOK → -2.06m NOK.
On the constructive side: revenue rose; operating result improved; equity strengthened. Pressures included: net result weakened; cash fell.
Also worth watching: thin equity buffer; cogs moved. All figures are taken from the published annual accounts for ADRIATIC + AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 3.92m NOK to 5.23m NOK (+33.4% YoY). Calculated
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Operating result improved
Operating result +232.1k NOK → +450.6k NOK (op. margin 5.9% → 8.6%). Calculated
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Equity strengthened
Book equity -2.48m NOK → -2.06m NOK (equity ratio -1839.3% → -3082.1%). Calculated
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Payroll decreased
Salary cost 2.02m NOK → 1.86m NOK (51% → 36% of revenue). Calculated
What deteriorated
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↓
Net result weakened
Net result +751.8k NOK → +423.4k NOK (net margin 19.2% → 8.1%). Calculated
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Cash fell
Bank deposits 12.0k NOK → 5 487 NOK (-54.3% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -3082.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS moved
COGS / varekostnad 1.32m NOK → 1.87m NOK (+41.1% YoY). Calculated