AKB LIGHTING AS: årsregnskap 2002 vs 2001
Weaker earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2002 with 2001 for AKB LIGHTING AS. Revenue 15.05m NOK → 14.65m NOK (-2.7%). Net result +462.3k NOK → +173.2k NOK. Equity 4.81m NOK → 1.48m NOK.
On the constructive side: operating result improved; current ratio back above 1×. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for AKB LIGHTING AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +2 002 NOK → +130.53m NOK (op. margin 0.0% → 891.3%). Calculated
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Current ratio back above 1×
Current ratio 0.60× → 2.07×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 15.05m NOK to 14.65m NOK (-2.7% YoY). Calculated
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Net result weakened
Net result +462.3k NOK → +173.2k NOK (net margin 3.1% → 1.2%). Calculated
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↓
Equity eroded
Book equity 4.81m NOK → 1.48m NOK (equity ratio 33.0% → 11.0%). Calculated
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Cash fell
Bank deposits 1.74m NOK → 714.1k NOK (-59.0% YoY). Calculated
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Payroll up without matching revenue
Salary cost 3.16m NOK → 3.66m NOK (21% → 25% of revenue). Calculated
Things to notice
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Paid-in equity reduced
Paid-in equity fell 4.50m NOK → 200.0k NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
COGS fell
COGS / varekostnad 7.97m NOK → 752.4k NOK (-90.6% YoY). Calculated