AIC HOLDING AS: årsregnskap 2006 vs 2005
Shrank 7% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2006 with 2005 for AIC HOLDING AS. Revenue 4.49m NOK → 4.17m NOK (-7.0%). Net result +1.18m NOK → +3.30m NOK. Equity 3.48m NOK → 183.2k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: revenue fell; equity eroded; payroll up without matching revenue.
Also worth watching: thin equity buffer; cogs fell; book investments changed. All figures are taken from the published annual accounts for AIC HOLDING AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +1 243 NOK → +2 025 NOK (op. margin 0.0% → 0.0%). Calculated
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Net result improved
Net result +1.18m NOK → +3.30m NOK (net margin 26.2% → 79.0%). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 4.49m NOK to 4.17m NOK (-7.0% YoY). Calculated
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Equity eroded
Book equity 3.48m NOK → 183.2k NOK (equity ratio 12.8% → 1.0%). Calculated
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Payroll up without matching revenue
Salary cost 3.70m NOK → 4.27m NOK (82% → 102% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 1.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 265.1k NOK → 90.3k NOK (-65.9% YoY). Calculated
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Book investments changed
Investment / intangible book value 2.50m NOK → 3.61m NOK. Reported fact