ADVENTURE SENJA AS: årsregnskap 2018 vs 2017
Grew 13% on revenue, weaker earnings
approved 2019-07-12; registry 2019-07-22; journal 2019 759797
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADVENTURE SENJA AS. Revenue 1.53m NOK → 1.72m NOK (+12.8%). Net result +362.2k NOK → +89.8k NOK. Equity 179.9k NOK → 90.1k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ADVENTURE SENJA AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 1.53m NOK to 1.72m NOK (+12.8% YoY). Calculated
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↑
Payroll decreased
Salary cost 567.5k NOK → 541.3k NOK (37% → 31% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +31.9k NOK → +4 487 NOK (op. margin 2.1% → 0.3%). Calculated
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↓
Net result weakened
Net result +362.2k NOK → +89.8k NOK (net margin 23.7% → 5.2%). Calculated
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↓
Equity eroded
Book equity 179.9k NOK → 90.1k NOK (equity ratio 5.4% → 3.0%). Calculated
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↓
Cash fell
Bank deposits 391.5k NOK → 224.6k NOK (-42.6% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.23× → 0.93× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 3.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 76.0k NOK → 67.5k NOK (-11.1% YoY). Calculated