AK BERTELSEN AS: årsregnskap 2020 vs 2019
Grew 13% on revenue, weaker earnings
approved 2021-05-30; registry 2021-06-28; journal 2021 482042
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for AK BERTELSEN AS. Revenue 1.16m NOK → 1.31m NOK (+13.0%). Net result +174.9k NOK → +296 NOK. Equity 821.1k NOK → 117.1k NOK.
On the constructive side: revenue rose; operating result improved; cash rose. Pressures included: net result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AK BERTELSEN AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 1.16m NOK to 1.31m NOK (+13.0% YoY). Calculated
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Operating result improved
Operating result +224.3k NOK → +377.4k NOK (op. margin 19.3% → 28.7%). Calculated
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Cash rose
Bank deposits 319.8k NOK → 1.63m NOK (+410.1% YoY). Calculated
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Payroll decreased
Salary cost 749.6k NOK → 742.0k NOK (64% → 56% of revenue). Calculated
What deteriorated
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↓
Net result weakened
Net result +174.9k NOK → +296 NOK (net margin 15.0% → 0.0%). Calculated
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↓
Equity eroded
Book equity 821.1k NOK → 117.1k NOK (equity ratio 60.2% → 6.8%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 6.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation