AIR ENERGI NORWAY AS: årsregnskap 2017 vs 2016
Stronger earnings, cash halved-plus
approved 2019-03-22; registry 2019-04-04; journal 2019 266424
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for AIR ENERGI NORWAY AS. Revenue 24.13m NOK → 24.46m NOK (+1.4%). Net result +146.0k NOK → +536.4k NOK. Equity -2.39m NOK → -1.85m NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; cogs moved. All figures are taken from the published annual accounts for AIR ENERGI NORWAY AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 24.13m NOK to 24.46m NOK (+1.4% YoY). Calculated
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Operating result improved
Operating result -30.2k NOK → +489.1k NOK (op. margin -0.1% → 2.0%). Calculated
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Net result improved
Net result +146.0k NOK → +536.4k NOK (net margin 0.6% → 2.2%). Calculated
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Equity strengthened
Book equity -2.39m NOK → -1.85m NOK (equity ratio -24.3% → -63.6%). Calculated
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Payroll decreased
Salary cost 2.80m NOK → 491.0k NOK (12% → 2% of revenue). Calculated
What deteriorated
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Cash fell
Bank deposits 2.58m NOK → 924.4k NOK (-64.2% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -63.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (2.58m NOK → 924.4k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS moved
COGS / varekostnad 22.36m NOK → 23.06m NOK (+3.1% YoY). Calculated