AGORA AS: årsregnskap 2004 vs 2003
Weaker earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for AGORA AS. Revenue 4.82m NOK → 4.71m NOK (-2.4%). Net result -204.7k NOK → -914.0k NOK. Equity 560.5k NOK → -353.5k NOK.
Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for AGORA AS.
At a glance
Scorecard
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 4.82m NOK to 4.71m NOK (-2.4% YoY). Calculated
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↓
Operating result weakened
Operating result -187.5k NOK → -907.4k NOK (op. margin -3.9% → -19.3%). Calculated
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↓
Net result weakened
Net result -204.7k NOK → -914.0k NOK (net margin -4.2% → -19.4%). Calculated
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↓
Equity eroded
Book equity 560.5k NOK → -353.5k NOK (equity ratio 40.3% → -44.6%). Calculated
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↓
Payroll up without matching revenue
Salary cost 1.67m NOK → 1.96m NOK (35% → 42% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -44.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 1.05m NOK → 1.04m NOK (-0.8% YoY). Calculated