AIRTRANS HOLDING AS: årsregnskap 2014 vs 2013
Shrank 99% on revenue, weaker earnings
approved 2015-10-12; registry 2015-10-21; journal 2015 945675
Summary
What changed
Comparing Årsregnskap 2014 with 2013 for AIRTRANS HOLDING AS. Revenue 167.4k NOK → 2 014 NOK (-98.8%). Net result -20.9k NOK → -139.1k NOK. Equity -25.8k NOK → -164.9k NOK.
On the constructive side: cash rose. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AIRTRANS HOLDING AS.
At a glance
Scorecard
What improved
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↑
Cash rose
Bank deposits 899 NOK → 5 091 NOK (+466.3% YoY). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 167.4k NOK to 2 014 NOK (-98.8% YoY). Calculated
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↓
Net result weakened
Net result -20.9k NOK → -139.1k NOK (net margin -12.5% → -6906.9%). Calculated
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↓
Equity eroded
Book equity -25.8k NOK → -164.9k NOK (equity ratio -17.4% → -105.0%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 2.00× → 0.49× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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↓
Payroll up without matching revenue
Salary cost 5 NOK → 2.14m NOK (0% → 106154% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -105.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation