ADWANS AS: årsregnskap 2013 vs 2012
Shrank 43% on revenue, returned to profit, cash halved-plus
approved 2014-06-25; registry 2014-07-29; journal 2014 611390
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for ADWANS AS. Revenue 382.1k NOK → 218.1k NOK (-42.9%). Net result -169.3k NOK → +5.14m NOK. Equity -306.5k NOK → -445.3k NOK.
On the constructive side: operating result improved; turned profitable. Pressures included: revenue fell; 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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↑
Operating result improved
Operating result -169.7k NOK → -138.9k NOK (op. margin -44.4% → -63.7%). Calculated
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↑
Turned profitable
Net result flipped from a loss of 169.3k NOK to a profit of 5.14m NOK. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 382.1k NOK to 218.1k NOK (-42.9% YoY). Calculated
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↓
Equity eroded
Book equity -306.5k NOK → -445.3k NOK (equity ratio -188.9% → -406.5%). Calculated
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↓
Cash fell
Bank deposits 147.6k NOK → 54.4k NOK (-63.1% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -406.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 5 000 NOK → 0 NOK (-100.0% YoY). Calculated