AERO-TEC AS: årsregnskap 2013 vs 2012
Shrank 39% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for AERO-TEC AS. Revenue 458.8k NOK → 281.0k NOK (-38.8%). Net result +9 619 NOK → +127.9k NOK. Equity 342.0k NOK → 214.1k NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Also worth watching: cogs fell. All figures are taken from the published annual accounts for AERO-TEC AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +13.0k NOK → +158.5k NOK (op. margin 2.8% → 56.4%). Calculated
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Net result improved
Net result +9 619 NOK → +127.9k NOK (net margin 2.1% → 45.5%). Calculated
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Payroll decreased
Salary cost 99.1k NOK → 61.1k NOK (22% → 22% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 458.8k NOK to 281.0k NOK (-38.8% YoY). Calculated
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↓
Equity eroded
Book equity 342.0k NOK → 214.1k NOK (equity ratio 76.9% → 30.9%). Calculated
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Current ratio dropped below 1×
Current ratio 1.04× → 0.38× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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COGS fell
COGS / varekostnad 104.9k NOK → 58.2k NOK (-44.5% YoY). Calculated