AERO SERVICE TECHNOLOGY NORWAY AS: årsregnskap 2021 vs 2020
Shrank 85% on revenue, weaker earnings, cash halved-plus
approved 2022-06-24; registry 2022-08-06; journal 2022 808110
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for AERO SERVICE TECHNOLOGY NORWAY AS. Revenue 29.16m NOK → 4.24m NOK (-85.4%). Net result +233.4k NOK → +142.8k NOK. Equity 34.92m NOK → 4.13m NOK.
Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: sharp cash drawdown; paid-in equity reduced. All figures are taken from the published annual accounts for AERO SERVICE TECHNOLOGY NORWAY AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 29.16m NOK to 4.24m NOK (-85.4% YoY). Calculated
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Operating result weakened
Operating result +697.3k NOK → +225.8k NOK (op. margin 2.4% → 5.3%). Calculated
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Net result weakened
Net result +233.4k NOK → +142.8k NOK (net margin 0.8% → 3.4%). Calculated
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Equity eroded
Book equity 34.92m NOK → 4.13m NOK (equity ratio 88.0% → 81.6%). Calculated
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Cash fell
Bank deposits 13.20m NOK → 2.15m NOK (-83.7% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (13.20m NOK → 2.15m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Paid-in equity reduced
Paid-in equity fell 35.51m NOK → 3.90m NOK — check capital reduction, conversion, or reclassification. Interpretation