AEBI SCHMIDT NORGE AS: årsregnskap 2003 vs 2002
Shrank 10% on revenue, returned to profit
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for AEBI SCHMIDT NORGE AS. Revenue 105.98m NOK → 95.83m NOK (-9.6%). Net result -15.22m NOK → +483 NOK. Equity 3.91m NOK → 1 NOK.
On the constructive side: operating result improved; turned profitable; cash rose. Pressures included: revenue fell; equity eroded.
Also worth watching: thin equity buffer; cogs fell; book investments changed. All figures are taken from the published annual accounts for AEBI SCHMIDT NORGE AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -12.85m NOK → +477 NOK (op. margin -12.1% → 0.0%). Calculated
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Turned profitable
Net result flipped from a loss of 15.22m NOK to a profit of 483 NOK. Calculated
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Cash rose
Bank deposits 2.61m NOK → 9.47m NOK (+263.5% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.96× → 1.11×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 105.98m NOK to 95.83m NOK (-9.6% YoY). Calculated
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↓
Equity eroded
Book equity 3.91m NOK → 1 NOK (equity ratio 4.3% → 0.0%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 50.91m NOK → 48.37m NOK (-5.0% YoY). Calculated
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Book investments changed
Investment / intangible book value 564 NOK → 564.0k NOK. Reported fact