ADVANCED BIOPOLYMERS AS: årsregnskap 2004 vs 2003
Grew 22% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ADVANCED BIOPOLYMERS AS. Revenue 245 NOK → 300 NOK (+22.4%). Net result -794.5k NOK → -1.47m NOK. Equity 852.9k NOK → 84.1k NOK.
On the constructive side: revenue rose; operating result improved. Pressures included: net result weakened; equity eroded.
Also worth watching: thin equity buffer; paid-in equity reduced; payroll increased. All figures are taken from the published annual accounts for ADVANCED BIOPOLYMERS AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 245 NOK to 300 NOK (+22.4% YoY). Calculated
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↑
Operating result improved
Operating result -1.27m NOK → +442.3k NOK (op. margin -518141.6% → 147417.0%). Calculated
What deteriorated
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↓
Net result weakened
Net result -794.5k NOK → -1.47m NOK (net margin -324272.2% → -489134.0%). Calculated
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↓
Equity eroded
Book equity 852.9k NOK → 84.1k NOK (equity ratio 29.0% → 3.3%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 3.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Paid-in equity reduced
Paid-in equity fell 852.9k NOK → 84.1k NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
Payroll increased
Salary cost 574.0k NOK → 7.43m NOK (234272% → 2476658% of revenue). Calculated
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COGS moved
COGS / varekostnad 14.8k NOK → 105.6k NOK (+615.6% YoY). Calculated