ADS AIRPORT SERVICES AS: årsregnskap 2014 vs 2013
Grew 36% on revenue, weaker earnings, cash halved-plus
approved 2015-06-30; registry 2015-09-10; journal 2015 817142
Summary
What changed
Comparing Årsregnskap 2014 with 2013 for ADS AIRPORT SERVICES AS. Revenue 39.12m NOK → 53.35m NOK (+36.4%). Net result +7.05m NOK → +4.64m NOK. Equity 24.88m NOK → 21.71bn NOK.
On the constructive side: revenue rose; equity strengthened; owners injected capital. Pressures included: operating result weakened; net result weakened; cash fell.
Also worth watching: sharp cash drawdown; payroll increased; book investments changed. All figures are taken from the published annual accounts for ADS AIRPORT SERVICES AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 39.12m NOK to 53.35m NOK (+36.4% YoY). Calculated
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Equity strengthened
Book equity 24.88m NOK → 21.71bn NOK (equity ratio 27.6% → 22.8%). Calculated
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Owners injected capital
Paid-in equity rose 15.37m NOK → 15.37bn NOK (+15.36bn NOK). Reported fact
What deteriorated
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↓
Operating result weakened
Operating result +4.31m NOK → +1.29m NOK (op. margin 11.0% → 2.4%). Calculated
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Net result weakened
Net result +7.05m NOK → +4.64m NOK (net margin 18.0% → 8.7%). Calculated
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Cash fell
Bank deposits 25.23bn NOK → 9.60bn NOK (-61.9% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (25.23bn NOK → 9.60bn NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Payroll increased
Salary cost 1 000 NOK → 22.76m NOK (0% → 43% of revenue). Calculated
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Book investments changed
Investment / intangible book value 32.10m NOK → 33.56bn NOK. Reported fact