AEX TRANSPORT AS: årsregnskap 2005 vs 2004
Grew 18% on revenue, slipped into loss
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for AEX TRANSPORT AS. Revenue 9.22m NOK → 10.88m NOK (+18.0%). Net result +213.9k NOK → -86.8k NOK. Equity 282.4k NOK → 195.6k NOK.
On the constructive side: revenue rose; current ratio back above 1×. Pressures included: operating result weakened; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for AEX TRANSPORT AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 9.22m NOK to 10.88m NOK (+18.0% YoY). Calculated
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↑
Current ratio back above 1×
Current ratio 0.96× → 1.09×. Calculated
What deteriorated
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↓
Operating result weakened
Operating result +397.1k NOK → -69.8k NOK (op. margin 4.3% → -0.6%). Calculated
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↓
Fell into a net loss
Net result flipped from 213.9k NOK profit to a loss of 86.8k NOK. Calculated
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↓
Equity eroded
Book equity 282.4k NOK → 195.6k NOK (equity ratio 9.5% → 7.4%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 7.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 889.7k NOK → 1.24m NOK (10% → 11% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 5.68m NOK → 7.79m NOK (+37.1% YoY). Calculated