AERO ENGINEERING AS: årsregnskap 2020 vs 2019
Grew 13% on revenue, weaker earnings, cash halved-plus
approved 2021-04-03; registry 2021-04-12; journal 2021 187490
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for AERO ENGINEERING AS. Revenue 2.21m NOK → 2.50m NOK (+13.3%). Net result +915.6k NOK → +520.0k NOK. Equity 1.33m NOK → 2.70m NOK.
On the constructive side: revenue rose; operating result improved; equity strengthened. Pressures included: net result weakened; cash fell.
Also worth watching: sharp cash drawdown; payroll increased; cogs fell. All figures are taken from the published annual accounts for AERO ENGINEERING AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 2.21m NOK to 2.50m NOK (+13.3% YoY). Calculated
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Operating result improved
Operating result +1.14m NOK → +1.39m NOK (op. margin 51.8% → 55.7%). Calculated
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Equity strengthened
Book equity 1.33m NOK → 2.70m NOK (equity ratio 62.3% → 75.6%). Calculated
What deteriorated
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↓
Net result weakened
Net result +915.6k NOK → +520.0k NOK (net margin 41.4% → 20.8%). Calculated
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Cash fell
Bank deposits 1.23m NOK → 488.1k NOK (-60.3% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (1.23m NOK → 488.1k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Payroll increased
Salary cost 855.8k NOK → 866.3k NOK (39% → 35% of revenue). Calculated
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COGS fell
COGS / varekostnad 80.6k NOK → 1 724 NOK (-97.9% YoY). Calculated