ADURNA AS: årsregnskap 2011 vs 2010
Grew 27% on revenue, weaker earnings
approved 2012-06-12; registry 2012-06-20; journal 2012 443621
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ADURNA AS. Revenue 191.2k NOK → 243.8k NOK (+27.5%). Net result +639.4k NOK → +422.5k NOK. Equity -1.58m NOK → -3.01m NOK.
On the constructive side: revenue rose. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; payroll increased; book investments changed. All figures are taken from the published annual accounts for ADURNA AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 191.2k NOK to 243.8k NOK (+27.5% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result -546.6k NOK → -549.1k NOK (op. margin -285.8% → -225.3%). Calculated
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↓
Net result weakened
Net result +639.4k NOK → +422.5k NOK (net margin 334.3% → 173.3%). Calculated
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↓
Equity eroded
Book equity -1.58m NOK → -3.01m NOK (equity ratio -11.1% → -25.1%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -25.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 518.8k NOK → 545.2k NOK (271% → 224% of revenue). Calculated
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·
Book investments changed
Investment / intangible book value 6.85m NOK → 6.51m NOK. Reported fact