ADVANCED ENGINEERING SYSTEMS AS: årsregnskap 2020 vs 2019
Shrank 21% on revenue, weaker earnings
approved 2021-06-21; registry 2021-07-26; journal 2021 536697
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ADVANCED ENGINEERING SYSTEMS AS. Revenue 5.71m NOK → 4.52m NOK (-20.9%). Net result +446.3k NOK → +234.4k NOK. Equity 613.9k NOK → 11.80m NOK.
On the constructive side: equity strengthened; cash rose. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: cogs fell. All figures are taken from the published annual accounts for ADVANCED ENGINEERING SYSTEMS AS.
At a glance
Scorecard
What improved
-
↑
Equity strengthened
Book equity 613.9k NOK → 11.80m NOK (equity ratio 132.9% → 562.9%). Calculated
-
↑
Cash rose
Bank deposits 648.0k NOK → 976.2k NOK (+50.7% YoY). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 5.71m NOK to 4.52m NOK (-20.9% YoY). Calculated
-
↓
Operating result weakened
Operating result +564.5k NOK → +318.7k NOK (op. margin 9.9% → 7.1%). Calculated
-
↓
Net result weakened
Net result +446.3k NOK → +234.4k NOK (net margin 7.8% → 5.2%). Calculated
-
↓
Payroll up without matching revenue
Salary cost 2 NOK → 773.1k NOK (0% → 17% of revenue). Calculated
Things to notice
-
·
COGS fell
COGS / varekostnad 3.82m NOK → 3.06m NOK (-19.8% YoY). Calculated