ADS AIRPORT SERVICES AS: årsregnskap 2015 vs 2014
Shrank 30% on revenue, stronger earnings, cash halved-plus
approved 2016-06-30; registry 2016-09-10; journal 2016 920210
Summary
What changed
Comparing Årsregnskap 2015 with 2014 for ADS AIRPORT SERVICES AS. Revenue 53.35m NOK → 37.28m NOK (-30.1%). Net result +4.64m NOK → +22.09m NOK. Equity 21.71bn NOK → 12.07m NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: sharp cash drawdown; paid-in equity reduced; book investments changed. All figures are taken from the published annual accounts for ADS AIRPORT SERVICES AS.
At a glance
Scorecard
What improved
-
↑
Operating result improved
Operating result +1.29m NOK → +10.58m NOK (op. margin 2.4% → 28.4%). Calculated
-
↑
Net result improved
Net result +4.64m NOK → +22.09m NOK (net margin 8.7% → 59.3%). Calculated
-
↑
Payroll decreased
Salary cost 22.76m NOK → 9.69m NOK (43% → 26% of revenue). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 53.35m NOK to 37.28m NOK (-30.1% YoY). Calculated
-
↓
Equity eroded
Book equity 21.71bn NOK → 12.07m NOK (equity ratio 22.8% → 10.4%). Calculated
-
↓
Cash fell
Bank deposits 9.60bn NOK → 320.8k NOK (-100.0% YoY). Calculated
Things to notice
-
·
Sharp cash drawdown
Cash fell by more than 60% YoY (9.60bn NOK → 320.8k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
-
·
Paid-in equity reduced
Paid-in equity fell 15.37bn NOK → 15.37m NOK — check capital reduction, conversion, or reclassification. Interpretation
-
·
Book investments changed
Investment / intangible book value 33.56bn NOK → 35.88m NOK. Reported fact