ADVANTEK ENGINEERING AS: årsregnskap 2022 vs 2021
Grew 29% on revenue, weaker earnings
approved 2023-08-14; registry 2023-08-23; journal 2023 711351
Summary
What changed
Comparing Årsregnskap 2022 with 2021 for ADVANTEK ENGINEERING AS. Revenue 52.91m NOK → 68.15m NOK (+28.8%). Net result +4.17m NOK → +1.57m NOK. Equity 267.8k NOK → 110.3k NOK.
On the constructive side: revenue rose; cash rose. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. 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 52.91m NOK to 68.15m NOK (+28.8% YoY). Calculated
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↑
Cash rose
Bank deposits 883.2k NOK → 962.5k NOK (+9.0% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +5.62m NOK → +1.69m NOK (op. margin 10.6% → 2.5%). Calculated
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↓
Net result weakened
Net result +4.17m NOK → +1.57m NOK (net margin 7.9% → 2.3%). Calculated
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↓
Equity eroded
Book equity 267.8k NOK → 110.3k NOK (equity ratio 1.2% → 0.5%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 17.62m NOK → 21.01m NOK (33% → 31% of revenue). Calculated
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COGS moved
COGS / varekostnad 17.01m NOK → 25.19m NOK (+48.1% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 514.2k NOK → 660.3k NOK. Reported fact