AGRAF AS: årsregnskap 2005 vs 2004
Shrank 61% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for AGRAF AS. Revenue 12.48m NOK → 4.87m NOK (-61.0%). Net result +423.3k NOK → +206.6k NOK. Equity 512.1k NOK → 4 528 NOK.
Pressures included: revenue fell; operating result weakened; net result weakened.
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 deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 12.48m NOK to 4.87m NOK (-61.0% YoY). Calculated
-
↓
Operating result weakened
Operating result +941.4k NOK → +792.8k NOK (op. margin 7.5% → 16.3%). Calculated
-
↓
Net result weakened
Net result +423.3k NOK → +206.6k NOK (net margin 3.4% → 4.2%). Calculated
-
↓
Equity eroded
Book equity 512.1k NOK → 4 528 NOK. Calculated
-
↓
Payroll up without matching revenue
Salary cost 526.4k NOK → 1.44m NOK (4% → 30% of revenue). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is 0.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
COGS fell
COGS / varekostnad 10.41m NOK → 2.62m NOK (-74.9% YoY). Calculated
-
·
Book investments changed
Investment / intangible book value 60.0k NOK → 0 NOK. Reported fact