AIBEL AS: årsregnskap 2008 vs 2007
Shrank 19% on revenue, cash halved-plus
approved 2009-06-30; registry 2009-08-03
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for AIBEL AS. Revenue 9.46bn NOK → 7.64bn NOK (-19.2%). Equity 625.64m NOK → 823.56m NOK.
On the constructive side: equity strengthened; payroll decreased. Pressures included: revenue fell; cash fell; current ratio dropped below 1×.
Also worth watching: sharp cash drawdown; cogs fell. All figures are taken from the published annual accounts for AIBEL AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity 625.64m NOK → 823.56m NOK (equity ratio 13.1% → 16.0%). Calculated
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↑
Payroll decreased
Salary cost 5.22bn NOK → 2.56bn NOK (55% → 34% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 9.46bn NOK to 7.64bn NOK (-19.2% YoY). Calculated
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↓
Cash fell
Bank deposits 546.93m NOK → 215.83m NOK (-60.5% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.07× → 0.86× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (546.93m NOK → 215.83m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
COGS fell
COGS / varekostnad 4.03bn NOK → 1.77bn NOK (-56.0% YoY). Calculated