AKER YACHTS AS: årsregnskap 2004 vs 2003
Grew 593% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for AKER YACHTS AS. Revenue 54.5k NOK → 377.8k NOK (+593.3%). Net result -277.9k NOK → -50.5k NOK. Equity -78.7k NOK → -129.2k NOK.
On the constructive side: revenue rose; net result improved; payroll decreased. Pressures included: operating result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for AKER YACHTS AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 54.5k NOK to 377.8k NOK (+593.3% YoY). Calculated
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Net result improved
Net result -277.9k NOK → -50.5k NOK (net margin -510.1% → -13.4%). Calculated
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Payroll decreased
Salary cost 169.5k NOK → 4 169 NOK (311% → 1% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +59.4k NOK → -48.0k NOK (op. margin 109.0% → -12.7%). Calculated
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↓
Equity eroded
Book equity -78.7k NOK → -129.2k NOK (equity ratio -2.2% → -422.4%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -422.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 248.5k NOK → 110.6k NOK (-55.5% YoY). Calculated