AGROQUIP AS: årsregnskap 2021 vs 2020
Grew 41% on revenue, stronger earnings, cash halved-plus
approved 2022-06-30; registry 2022-07-11; journal 2022 616590
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for AGROQUIP AS. Revenue 22.71m NOK → 32.13m NOK (+41.5%). Net result +68.0k NOK → +148.1k NOK. Equity -1.00m NOK → -856.4k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; cogs moved. All figures are taken from the published annual accounts for AGROQUIP AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 22.71m NOK to 32.13m NOK (+41.5% YoY). Calculated
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Operating result improved
Operating result +221.1k NOK → +222.0k NOK (op. margin 1.0% → 0.7%). Calculated
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Net result improved
Net result +68.0k NOK → +148.1k NOK (net margin 0.3% → 0.5%). Calculated
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Equity strengthened
Book equity -1.00m NOK → -856.4k NOK (equity ratio -13.7% → -16.9%). Calculated
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Payroll decreased
Salary cost 949.6k NOK → 896.6k NOK (4% → 3% of revenue). Calculated
What deteriorated
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Cash fell
Bank deposits 2.16m NOK → 433.9k NOK (-79.9% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -16.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (2.16m NOK → 433.9k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS moved
COGS / varekostnad 20.80m NOK → 29.23m NOK (+40.5% YoY). Calculated