AJOUR MEDIA AS: årsregnskap 2003 vs 2002
Shrank 35% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for AJOUR MEDIA AS. Revenue 2.54m NOK → 1.65m NOK (-35.1%). Net result +295.3k NOK → +217.1k NOK. Equity 498.3k NOK → 615.4k NOK.
On the constructive side: equity strengthened; payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: cogs fell. All figures are taken from the published annual accounts for AJOUR MEDIA AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity 498.3k NOK → 615.4k NOK (equity ratio 85.8% → 47.5%). Calculated
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↑
Payroll decreased
Salary cost 903.1k NOK → 661.8k NOK (36% → 40% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.54m NOK to 1.65m NOK (-35.1% YoY). Calculated
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↓
Operating result weakened
Operating result +441.4k NOK → +330.1k NOK (op. margin 17.4% → 20.0%). Calculated
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↓
Net result weakened
Net result +295.3k NOK → +217.1k NOK (net margin 11.6% → 13.2%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.00× → 0.92× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
COGS fell
COGS / varekostnad 114.9k NOK → 84.7k NOK (-26.3% YoY). Calculated