ADVANTEK ENGINEERING AS: årsregnskap 2020 vs 2019
Shrank 25% on revenue, weaker earnings
registry 2021-09-22; journal 2021 731368
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ADVANTEK ENGINEERING AS. Revenue 64.67m NOK → 48.23m NOK (-25.4%). Net result +4.46m NOK → +3.17m NOK. Equity 564.6k NOK → 2.69m NOK.
On the constructive side: equity strengthened; cash rose; payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: 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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↑
Equity strengthened
Book equity 564.6k NOK → 2.69m NOK (equity ratio 2.5% → 17.4%). Calculated
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↑
Cash rose
Bank deposits 9 291 NOK → 3.00m NOK (+32139.3% YoY). Calculated
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↑
Payroll decreased
Salary cost 33.04m NOK → 19.51m NOK (51% → 40% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 64.67m NOK to 48.23m NOK (-25.4% YoY). Calculated
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↓
Operating result weakened
Operating result +5.79m NOK → +4.23m NOK (op. margin 9.0% → 8.8%). Calculated
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↓
Net result weakened
Net result +4.46m NOK → +3.17m NOK (net margin 6.9% → 6.6%). Calculated
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↓
COGS moved
COGS / varekostnad 14.30m NOK → 14.55m NOK (+1.8% YoY). Calculated
Things to notice
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·
Book investments changed
Investment / intangible book value 805.0k NOK → 765.4k NOK. Reported fact