ADWANS AS: årsregnskap 2018 vs 2017
Shrank 39% on revenue, cash halved-plus
approved 2019-05-29; registry 2019-06-29; journal 2019 556494
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADWANS AS. Revenue 769.2k NOK → 466.3k NOK (-39.4%). Equity -699.8k NOK → -608.8k NOK.
On the constructive side: operating result improved; equity strengthened; payroll decreased. Pressures included: revenue fell; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADWANS AS.
At a glance
Scorecard
What improved
-
↑
Operating result improved
Operating result +30.3k NOK → +90.8k NOK (op. margin 3.9% → 19.5%). Calculated
-
↑
Equity strengthened
Book equity -699.8k NOK → -608.8k NOK (equity ratio -306.9% → -576.9%). Calculated
-
↑
Payroll decreased
Salary cost 392.2k NOK → 102.3k NOK (51% → 22% of revenue). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 769.2k NOK to 466.3k NOK (-39.4% YoY). Calculated
-
↓
Cash fell
Bank deposits 197.3k NOK → 97.4k NOK (-50.6% YoY). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is -576.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation