ADVANTEK ENGINEERING AS: årsregnskap 2019 vs 2018
Grew 74% on revenue, stronger earnings, cash halved-plus
approved 2020-06-22; registry 2020-07-02; journal 2020 524761
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ADVANTEK ENGINEERING AS. Revenue 37.26m NOK → 64.67m NOK (+73.6%). Net result +2.63m NOK → +4.46m NOK. Equity 100.1k NOK → 564.6k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: cash fell.
Also worth watching: payroll increased; cogs moved; book investments changed. All figures are taken from the published annual accounts for ADVANTEK ENGINEERING AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 37.26m NOK to 64.67m NOK (+73.6% YoY). Calculated
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Operating result improved
Operating result +3.50m NOK → +5.79m NOK (op. margin 9.4% → 9.0%). Calculated
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Net result improved
Net result +2.63m NOK → +4.46m NOK (net margin 7.1% → 6.9%). Calculated
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Equity strengthened
Book equity 100.1k NOK → 564.6k NOK (equity ratio 0.7% → 2.5%). Calculated
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Current ratio back above 1×
Current ratio 0.95× → 1.21×. Calculated
What deteriorated
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↓
Cash fell
Bank deposits 892.8k NOK → 9 291 NOK (-99.0% YoY). Calculated
Things to notice
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·
Payroll increased
Salary cost 20.93m NOK → 33.04m NOK (56% → 51% of revenue). Calculated
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COGS moved
COGS / varekostnad 8 625 NOK → 14.30m NOK (+165663.9% YoY). Calculated
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Book investments changed
Investment / intangible book value 858.7k NOK → 805.0k NOK. Reported fact