AEPOS ARKITEKTER OG PLANLEGGERE AS: årsregnskap 2003 vs 2002
Shrank 67% on revenue, stronger earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for AEPOS ARKITEKTER OG PLANLEGGERE AS. Revenue 513.4k NOK → 171.0k NOK (-66.7%). Net result -114.3k NOK → -38.2k NOK. Equity -162.2k NOK → -150.4k NOK.
On the constructive side: operating result improved; net result improved; equity strengthened. Pressures included: revenue fell; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AEPOS ARKITEKTER OG PLANLEGGERE AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -111.3k NOK → +29.1k NOK (op. margin -21.7% → 17.0%). Calculated
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Net result improved
Net result -114.3k NOK → -38.2k NOK (net margin -22.3% → -22.3%). Calculated
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Equity strengthened
Book equity -162.2k NOK → -150.4k NOK (equity ratio -97.1% → -334240.0%). Calculated
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Owners injected capital
Paid-in equity rose 50.0k NOK → 100.0k NOK (+50.0k NOK). Reported fact
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Payroll decreased
Salary cost 358.0k NOK → 3 178 NOK (70% → 2% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 513.4k NOK to 171.0k NOK (-66.7% YoY). Calculated
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Cash fell
Bank deposits 51.5k NOK → 6 276 NOK (-87.8% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -334240.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation