AERON AS: årsregnskap 2012 vs 2011
Grew 18% on revenue, cash halved-plus
approved 2013-03-05; registry 2013-06-18; journal 2013 459897
Summary
What changed
Comparing Årsregnskap 2012 with 2011 for AERON AS. Revenue 179.18m NOK → 211.14m NOK (+17.8%). Net result +4.83m NOK → +4.05m NOK. Equity 35.41m NOK → 18.14m NOK.
On the constructive side: revenue rose; owners injected capital. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: sharp cash drawdown; payroll increased; cogs moved. All figures are taken from the published annual accounts for AERON AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 179.18m NOK to 211.14m NOK (+17.8% YoY). Calculated
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Owners injected capital
Paid-in equity rose 5.45m NOK → 5.61m NOK (+159.7k NOK). Reported fact
What deteriorated
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↓
Operating result weakened
Operating result +6.48m NOK → +5.89m NOK (op. margin 3.6% → 2.8%). Calculated
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↓
Net result weakened
Net result +4.83m NOK → +4.05m NOK (net margin 2.7% → 1.9%). Calculated
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↓
Equity eroded
Book equity 35.41m NOK → 18.14m NOK (equity ratio 34.9% → 18.4%). Calculated
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↓
Cash fell
Bank deposits 7.72m NOK → 209.2k NOK (-97.3% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (7.72m NOK → 209.2k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Payroll increased
Salary cost 30.81m NOK → 33.74m NOK (17% → 16% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 128.10m NOK → 3.16bn NOK (+2365.3% YoY). Calculated