ADVANCED ENGINEERING SYSTEMS AS: årsregnskap 2022 vs 2021
Grew 38% on revenue, stronger earnings
approved 2023-03-29; registry 2023-07-05; journal 2023 575739
Summary
What changed
Comparing Årsregnskap 2022 with 2021 for ADVANCED ENGINEERING SYSTEMS AS. Revenue 4.60m NOK → 6.35m NOK (+38.0%). Net result +78.3k NOK → +496.2k NOK. Equity 876.5k NOK → 122.7k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for ADVANCED ENGINEERING SYSTEMS AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 4.60m NOK to 6.35m NOK (+38.0% YoY). Calculated
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↑
Operating result improved
Operating result +132.5k NOK → +671.0k NOK (op. margin 2.9% → 10.6%). Calculated
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↑
Net result improved
Net result +78.3k NOK → +496.2k NOK (net margin 1.7% → 7.8%). Calculated
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↑
Cash rose
Bank deposits 586.6k NOK → 612.9k NOK (+4.5% YoY). Calculated
What deteriorated
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↓
Equity eroded
Book equity 876.5k NOK → 122.7k NOK (equity ratio 45.7% → 4.7%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 4.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 843.1k NOK → 930.8k NOK (18% → 15% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 3.08m NOK → 4.17m NOK (+35.5% YoY). Calculated