Org.nr 917 997 500 2010 → 2011 Year-over-year analysis

AIR PRODUCTS AS: årsregnskap 2011 vs 2010

Shrank 27% on revenue, returned to profit, cash halved-plus

Summary

What changed

Comparing Årsregnskap 2011 with 2010 for AIR PRODUCTS AS. Revenue 330.98m NOK → 243.25m NOK (-26.5%). Net result -47.68m NOK → +38.19m NOK.

On the constructive side: turned profitable. Pressures included: revenue fell; operating result weakened; cash fell.

Also worth watching: cogs fell. All figures are taken from the published annual accounts for AIR PRODUCTS AS.

At a glance

Revenue

330.98m NOK 243.25m NOK

-26.5%

Operating result

+58.61m NOK +49.71m NOK

-15.2%

Net result

-47.68m NOK +38.19m NOK

+180.1%

Equity

168.43m NOK n/m

—

Cash

24.69m NOK 10.49m NOK

-57.5%

Total assets

324.14m NOK 287.01m NOK

-11.5%

↑
Turned profitable

Net result flipped from a loss of 47.68m NOK to a profit of 38.19m NOK. Calculated

↓
Revenue fell

Operating income / revenue moved from 330.98m NOK to 243.25m NOK (-26.5% YoY). Calculated
↓
Operating result weakened

Operating result +58.61m NOK → +49.71m NOK (op. margin 17.7% → 20.4%). Calculated
↓
Cash fell

Bank deposits 24.69m NOK → 10.49m NOK (-57.5% YoY). Calculated
↓
Payroll up without matching revenue

Salary cost 38.97m NOK → 43.99m NOK (12% → 18% of revenue). Calculated

·
COGS fell

COGS / varekostnad 208.78m NOK → 130.75m NOK (-37.4% YoY). Calculated