AKER SEIL AS: årsregnskap 2003 vs 2002
Weaker earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for AKER SEIL AS. Revenue 1.63m NOK → 1.66m NOK (+2.1%). Net result +946.2k NOK → +384.0k NOK. Equity 282.4k NOK → 100.6k NOK.
On the constructive side: revenue rose; current ratio back above 1×; payroll decreased. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: cogs moved. All figures are taken from the published annual accounts for AKER SEIL AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 1.63m NOK to 1.66m NOK (+2.1% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.60× → 1.05×. Calculated
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↑
Payroll decreased
Salary cost 4.57m NOK → 4.43m NOK (280% → 267% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +168.6k NOK → +104.8k NOK (op. margin 10.3% → 6.3%). Calculated
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↓
Net result weakened
Net result +946.2k NOK → +384.0k NOK (net margin 58.0% → 23.1%). Calculated
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↓
Equity eroded
Book equity 282.4k NOK → 100.6k NOK (equity ratio 47.9% → 11.3%). Calculated
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↓
Cash fell
Bank deposits 85.3k NOK → 16.9k NOK (-80.2% YoY). Calculated
Things to notice
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·
COGS moved
COGS / varekostnad 697.7k NOK → 917.8k NOK (+31.5% YoY). Calculated