AIR-TECH AS: årsregnskap 2020 vs 2019
Grew 19% on revenue, stronger earnings
approved 2021-03-18; registry 2021-04-03; journal 2021 182510
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for AIR-TECH AS. Revenue 5.79m NOK → 6.86m NOK (+18.6%). Net result +659.2k NOK → +823.9k NOK. Equity 917.0k NOK → 551.0k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded.
Also worth watching: payroll increased; cogs moved. All figures are taken from the published annual accounts for AIR-TECH AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 5.79m NOK to 6.86m NOK (+18.6% YoY). Calculated
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↑
Operating result improved
Operating result +839.7k NOK → +1.06m NOK (op. margin 14.5% → 15.4%). Calculated
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Net result improved
Net result +659.2k NOK → +823.9k NOK (net margin 11.4% → 12.0%). Calculated
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Cash rose
Bank deposits 286.3k NOK → 348.9k NOK (+21.9% YoY). Calculated
What deteriorated
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↓
Equity eroded
Book equity 917.0k NOK → 551.0k NOK (equity ratio 45.8% → 20.1%). Calculated
Things to notice
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·
Payroll increased
Salary cost 2.99m NOK → 3.26m NOK (52% → 47% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 1.24m NOK → 1.69m NOK (+36.2% YoY). Calculated