AKASTOR ASA: årsregnskap 2011 vs 2010
Stronger earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for AKASTOR ASA. Revenue 48.00m NOK → 48.00m NOK (0.0%). Net result +3.15bn NOK → +3.98bn NOK. Equity 10.73bn NOK → 8.14bn NOK.
On the constructive side: net result improved; owners injected capital. Pressures included: equity eroded; cash fell; current ratio dropped below 1×.
Also worth watching: sharp cash drawdown; cogs fell; book investments changed. All figures are taken from the published annual accounts for AKASTOR ASA.
At a glance
Scorecard
What improved
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Net result improved
Net result +3.15bn NOK → +3.98bn NOK (net margin 6568.8% → 8291.7%). Calculated
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Owners injected capital
Paid-in equity rose 4.82bn NOK → 4.89bn NOK (+71.00m NOK). Reported fact
What deteriorated
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↓
Equity eroded
Book equity 10.73bn NOK → 8.14bn NOK (equity ratio 35.3% → 29.7%). Calculated
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Cash fell
Bank deposits 298.00m NOK → 531.0k NOK (-99.8% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.10× → 0.62× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (298.00m NOK → 531.0k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS fell
COGS / varekostnad 24.88bn NOK → 16.23bn NOK (-34.7% YoY). Calculated
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Book investments changed
Investment / intangible book value 15.48bn NOK → 18.23bn NOK. Reported fact