AGRAF AS: årsregnskap 2002 vs 2001
Shrank 40% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2002 with 2001 for AGRAF AS. Revenue 8.66m NOK → 5.19m NOK (-40.1%). Net result +325.0k NOK → +436.9k NOK. Equity 243.5k NOK → 264.9k NOK.
On the constructive side: operating result improved; net result improved; equity strengthened. Pressures included: revenue fell.
Also worth watching: thin equity buffer; cogs fell; book investments changed. All figures are taken from the published annual accounts for AGRAF AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +535.5k NOK → +876.9k NOK (op. margin 6.2% → 16.9%). Calculated
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↑
Net result improved
Net result +325.0k NOK → +436.9k NOK (net margin 3.8% → 8.4%). Calculated
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↑
Equity strengthened
Book equity 243.5k NOK → 264.9k NOK (equity ratio 10.6% → 10.0%). Calculated
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↑
Payroll decreased
Salary cost 6 NOK → -694.1k NOK (0% → -13% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 8.66m NOK to 5.19m NOK (-40.1% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 10.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 6.00m NOK → -3.48m NOK (-157.9% YoY). Calculated
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Book investments changed
Investment / intangible book value 156.0k NOK → 60.0k NOK. Reported fact