AK. GRIEG NORGE AS: årsregnskap 2009 vs 2008
Shrank 26% on revenue, slipped into loss
approved 2010-06-30; registry 2010-08-24; journal 2010 629534
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for AK. GRIEG NORGE AS. Revenue 413.6k NOK → 304.1k NOK (-26.5%). Net result +2 007 NOK → -113.1k NOK. Equity -200.3k NOK → -313.5k NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AK. GRIEG NORGE AS.
At a glance
Scorecard
What improved
-
↑
Payroll decreased
Salary cost 49.6k NOK → 26.8k NOK (12% → 9% of revenue). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 413.6k NOK to 304.1k NOK (-26.5% YoY). Calculated
-
↓
Operating result weakened
Operating result -36.4k NOK → -116.1k NOK (op. margin -8.8% → -38.2%). Calculated
-
↓
Fell into a net loss
Net result flipped from 2 007 NOK profit to a loss of 113.1k NOK. Calculated
-
↓
Equity eroded
Book equity -200.3k NOK → -313.5k NOK (equity ratio -79.1% → -294.7%). Calculated
-
↓
Cash fell
Bank deposits 58.9k NOK → 47.5k NOK (-19.3% YoY). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is -294.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation