AGRAF AS: årsregnskap 2010 vs 2009
Grew 131% on revenue, stronger earnings
approved 2011-05-30; registry 2011-09-02; journal 2011 671863
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for AGRAF AS. Revenue 15.93m NOK → 36.76m NOK (+130.7%). Net result +28 NOK → +3.92m NOK. Equity 811.9k NOK → 733.3k NOK.
On the constructive side: revenue rose; net result improved; payroll decreased. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer; cogs moved; 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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↑
Revenue rose
Operating income / revenue moved from 15.93m NOK to 36.76m NOK (+130.7% YoY). Calculated
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Net result improved
Net result +28 NOK → +3.92m NOK (net margin 0.0% → 10.7%). Calculated
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↑
Payroll decreased
Salary cost 720.5k NOK → 530.8k NOK (5% → 1% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity 811.9k NOK → 733.3k NOK (equity ratio 30.0% → 6.5%). Calculated
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↓
Cash fell
Bank deposits 785.6k NOK → 638.7k NOK (-18.7% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 6.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS moved
COGS / varekostnad 11.13m NOK → 25.58m NOK (+129.8% YoY). Calculated
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Book investments changed
Investment / intangible book value 708.1k NOK → 451.0k NOK. Reported fact