AIR TRAFFIC OFFSHORE AS: årsregnskap 2007 vs 2006
Shrank 30% on revenue, cash halved-plus
approved 2008-05-30; registry 2008-07-08
Summary
What changed
Comparing Årsregnskap 2007 with 2006 for AIR TRAFFIC OFFSHORE AS. Revenue 2.12m NOK → 1.48m NOK (-30.2%). Net result -3.10m NOK → -2.72m NOK. Equity 7.68m NOK → 4.96m NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: sharp cash drawdown; paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for AIR TRAFFIC OFFSHORE AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -459.2k NOK → -84.9k NOK (op. margin -21.6% → -5.7%). Calculated
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Net result improved
Net result -3.10m NOK → -2.72m NOK (net margin -145.9% → -183.8%). Calculated
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Payroll decreased
Salary cost 211.2k NOK → 15.7k NOK (10% → 1% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.12m NOK to 1.48m NOK (-30.2% YoY). Calculated
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↓
Equity eroded
Book equity 7.68m NOK → 4.96m NOK (equity ratio 20.7% → 25.6%). Calculated
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↓
Cash fell
Bank deposits 5.78m NOK → 148.8k NOK (-97.4% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (5.78m NOK → 148.8k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Paid-in equity reduced
Paid-in equity fell 7.68m NOK → 4.96m NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 189.0k NOK → 83.7k NOK (-55.7% YoY). Calculated
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Book investments changed
Investment / intangible book value 212.4k NOK → 0 NOK. Reported fact