AIBEL AS: årsregnskap 2020 vs 2019
Grew 5% on revenue, weaker earnings, cash halved-plus
approved 2021-03-09; registry 2021-10-02; journal 2021 778403
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for AIBEL AS. Revenue 11.55bn NOK → 12.13bn NOK (+5.0%). Net result +423.25m NOK → +189.92m NOK. Equity 1.36bn NOK → 1.48bn NOK.
On the constructive side: revenue rose; equity strengthened; payroll decreased. Pressures included: operating result weakened; net result weakened; cash fell.
Also worth watching: sharp cash drawdown; cogs moved. All figures are taken from the published annual accounts for AIBEL AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 11.55bn NOK to 12.13bn NOK (+5.0% YoY). Calculated
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Equity strengthened
Book equity 1.36bn NOK → 1.48bn NOK (equity ratio 23.3% → 21.6%). Calculated
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Payroll decreased
Salary cost 5.68bn NOK → 5.09bn NOK (49% → 42% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +449.39m NOK → +203.63m NOK (op. margin 3.9% → 1.7%). Calculated
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↓
Net result weakened
Net result +423.25m NOK → +189.92m NOK (net margin 3.7% → 1.6%). Calculated
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Cash fell
Bank deposits 945.06m NOK → 982.9k NOK (-99.9% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (945.06m NOK → 982.9k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS moved
COGS / varekostnad 4.65bn NOK → 5.72bn NOK (+23.0% YoY). Calculated