AIRPORT RETAIL NORWAY AS: årsregnskap 2023 vs 2022
Grew 64% on revenue, weaker earnings, cash halved-plus
approved 2024-06-28; registry 2024-07-22; journal 2024 657244
Summary
What changed
Comparing Årsregnskap 2023 with 2022 for AIRPORT RETAIL NORWAY AS. Revenue 413.40m NOK → 678.71m NOK (+64.2%). Net result +10.19m NOK → 0 NOK. Equity 46.73m NOK → 47.96m NOK.
On the constructive side: revenue rose; equity strengthened. Pressures included: operating result weakened; net result weakened; cash fell.
Also worth watching: sharp cash drawdown; payroll increased; cogs fell. All figures are taken from the published annual accounts for AIRPORT RETAIL NORWAY AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 413.40m NOK to 678.71m NOK (+64.2% YoY). Calculated
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Equity strengthened
Book equity 46.73m NOK → 47.96m NOK (equity ratio 28.5% → 19.4%). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +14.11m NOK → +13.95m NOK (op. margin 3.4% → 2.1%). Calculated
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↓
Net result weakened
Net result +10.19m NOK → 0 NOK (net margin 2.5% → 0.0%). Calculated
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Cash fell
Bank deposits 1.95m NOK → 613.4k NOK (-68.5% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.17× → 0.02× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (1.95m NOK → 613.4k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Payroll increased
Salary cost 51.85m NOK → 77.91m NOK (13% → 11% of revenue). Calculated
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COGS fell
COGS / varekostnad 4.17bn NOK → 3.30bn NOK (-21.0% YoY). Calculated