AIR CARGO LOGISTICS AS: årsregnskap 2020 vs 2019
Grew 46% on revenue, stronger earnings
approved 2021-05-26; registry 2021-06-24; journal 2021 391809
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for AIR CARGO LOGISTICS AS. Revenue 577.76m NOK → 841.38m NOK (+45.6%). Net result +5.65m NOK → +11.60m NOK. Equity 9.28m NOK → 9.31m NOK.
On the constructive side: revenue rose; operating result improved; net result improved.
Also worth watching: thin equity buffer; 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 577.76m NOK to 841.38m NOK (+45.6% YoY). Calculated
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Operating result improved
Operating result +7.28m NOK → +15.57m NOK (op. margin 1.3% → 1.9%). Calculated
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Net result improved
Net result +5.65m NOK → +11.60m NOK (net margin 1.0% → 1.4%). Calculated
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Equity strengthened
Book equity 9.28m NOK → 9.31m NOK (equity ratio 11.9% → 6.6%). Calculated
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Cash rose
Bank deposits 7.02m NOK → 29.32m NOK (+317.6% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 6.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 12.39m NOK → 17.67m NOK (2% → 2% of revenue). Calculated
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COGS moved
COGS / varekostnad 8.55bn NOK → 8.80bn NOK (+2.9% YoY). Calculated