AKERSHUS OG ØSTFOLD VIRKESTRANSPORT AS: årsregnskap 2003 vs 2002
Weaker earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for AKERSHUS OG ØSTFOLD VIRKESTRANSPORT AS. Revenue 69.42m NOK → 70.44m NOK (+1.5%). Net result +184.6k NOK → +113.2k NOK. Equity 1.29m NOK → 1.40m NOK.
On the constructive side: revenue rose; equity strengthened. Pressures included: operating result weakened; net result weakened; cash fell.
Also worth watching: sharp cash drawdown; payroll increased; cogs moved. All figures are taken from the published annual accounts for AKERSHUS OG ØSTFOLD VIRKESTRANSPORT AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 69.42m NOK to 70.44m NOK (+1.5% YoY). Calculated
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↑
Equity strengthened
Book equity 1.29m NOK → 1.40m NOK. Calculated
What deteriorated
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↓
Operating result weakened
Operating result +139.7k NOK → +74.2k NOK (op. margin 0.2% → 0.1%). Calculated
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↓
Net result weakened
Net result +184.6k NOK → +113.2k NOK (net margin 0.3% → 0.2%). Calculated
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↓
Cash fell
Bank deposits 4.95m NOK → 1 370 NOK (-100.0% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.17× → 0.00× — 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 (4.95m NOK → 1 370 NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Payroll increased
Salary cost 828.2k NOK → 852.7k NOK (1% → 1% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 67.81m NOK → 68.93m NOK (+1.7% YoY). Calculated