AIR CARGO LOGISTICS AS: årsregnskap 2019 vs 2018
Grew 32% on revenue, stronger earnings, cash halved-plus
approved 2020-06-09; registry 2020-06-22; journal 2020 468628
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for AIR CARGO LOGISTICS AS. Revenue 437.16m NOK → 577.76m NOK (+32.2%). Net result +2 018 NOK → +5.65m NOK. Equity 7.53m NOK → 9.28m NOK.
On the constructive side: revenue rose; net result improved; equity strengthened. Pressures included: cash fell.
Also worth watching: sharp cash drawdown; payroll increased; cogs moved. All figures are taken from the published annual accounts for AIR CARGO LOGISTICS AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 437.16m NOK to 577.76m NOK (+32.2% YoY). Calculated
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Net result improved
Net result +2 018 NOK → +5.65m NOK (net margin 0.0% → 1.0%). Calculated
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Equity strengthened
Book equity 7.53m NOK → 9.28m NOK (equity ratio 7.1% → 11.9%). Calculated
What deteriorated
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↓
Cash fell
Bank deposits 32.41m NOK → 7.02m NOK (-78.3% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (32.41m NOK → 7.02m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Payroll increased
Salary cost 9.82m NOK → 12.39m NOK (2% → 2% of revenue). Calculated
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COGS moved
COGS / varekostnad 419.36m NOK → 8.55bn NOK (+1939.0% YoY). Calculated