AIRTHINGS AS: årsregnskap 2018 vs 2017
Grew 63% on revenue, stronger earnings, cash halved-plus
approved 2019-03-14; registry 2019-06-13; journal 2019 411368
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for AIRTHINGS AS. Revenue 61.82m NOK → 100.61m NOK (+62.8%). Net result +348.7k NOK → +5.79m NOK. Equity 49.44m NOK → 50.86m NOK.
On the constructive side: revenue rose; net result improved; equity strengthened. Pressures included: cash fell.
Also worth watching: sharp cash drawdown; payroll increased; cogs moved. All figures are taken from the published annual accounts for AIRTHINGS AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 61.82m NOK to 100.61m NOK (+62.8% YoY). Calculated
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Net result improved
Net result +348.7k NOK → +5.79m NOK (net margin 0.6% → 5.8%). Calculated
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Equity strengthened
Book equity 49.44m NOK → 50.86m NOK (equity ratio 80.2% → 68.4%). Calculated
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Owners injected capital
Paid-in equity rose 37.39m NOK → 37.50m NOK (+107.2k NOK). Reported fact
What deteriorated
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Cash fell
Bank deposits 35.23m NOK → 11.44m NOK (-67.5% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (35.23m NOK → 11.44m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Payroll increased
Salary cost 17.37m NOK → 27.48m NOK (28% → 27% of revenue). Calculated
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COGS moved
COGS / varekostnad 19.57m NOK → 28.47m NOK (+45.4% YoY). Calculated
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Book investments changed
Investment / intangible book value 59.4k NOK → 54.3k NOK. Reported fact