ADWANS AS: årsregnskap 2012 vs 2011
Grew 10% on revenue, stronger earnings
approved 2013-06-27; registry 2013-07-24; journal 2013 581981
Summary
What changed
Comparing Årsregnskap 2012 with 2011 for ADWANS AS. Revenue 348.6k NOK → 382.1k NOK (+9.6%). Net result -234.0k NOK → -169.3k NOK. Equity -137.2k NOK → -306.5k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ADWANS AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 348.6k NOK to 382.1k NOK (+9.6% YoY). Calculated
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↑
Operating result improved
Operating result -233.5k NOK → -169.7k NOK (op. margin -67.0% → -44.4%). Calculated
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↑
Net result improved
Net result -234.0k NOK → -169.3k NOK (net margin -67.1% → -44.3%). Calculated
What deteriorated
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↓
Equity eroded
Book equity -137.2k NOK → -306.5k NOK (equity ratio -66.2% → -188.9%). Calculated
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↓
Cash fell
Bank deposits 186.2k NOK → 147.6k NOK (-20.7% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -188.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 73.9k NOK → 5 000 NOK (-93.2% YoY). Calculated