AKERSHUS MOTOR AS: årsregnskap 2003 vs 2002
Weaker earnings, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for AKERSHUS MOTOR AS. Revenue 24.32m NOK → 23.38m NOK (-3.9%). Net result +643.1k NOK → +350.6k NOK. Equity 578.1k NOK → 428.7k NOK.
On the constructive side: current ratio back above 1×; owners injected capital. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: cogs fell. All figures are taken from the published annual accounts for AKERSHUS MOTOR AS.
At a glance
Scorecard
What improved
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↑
Current ratio back above 1×
Current ratio 0.88× → 1.03×. Calculated
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↑
Owners injected capital
Paid-in equity rose 50.0k NOK → 100.0k NOK (+50.0k NOK). Reported fact
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 24.32m NOK to 23.38m NOK (-3.9% YoY). Calculated
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↓
Operating result weakened
Operating result +1.07m NOK → +501.4k NOK (op. margin 4.4% → 2.1%). Calculated
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↓
Net result weakened
Net result +643.1k NOK → +350.6k NOK (net margin 2.6% → 1.5%). Calculated
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↓
Equity eroded
Book equity 578.1k NOK → 428.7k NOK (equity ratio 17.9% → 15.0%). Calculated
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↓
Payroll up without matching revenue
Salary cost 1.95m NOK → 1.99m NOK (8% → 9% of revenue). Calculated
Things to notice
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·
COGS fell
COGS / varekostnad 19.46m NOK → 18.93m NOK (-2.7% YoY). Calculated