ARCTICZYMES TECHNOLOGIES ASA: årsregnskap 2009 vs 2008
Grew 82% on revenue, weaker earnings, cash halved-plus
approved 2010-05-04; registry 2010-07-31; journal 2010 560949
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for ARCTICZYMES TECHNOLOGIES ASA. Revenue 45.34m NOK → 82.71m NOK (+82.4%). Net result -33.63m NOK → -97.09m NOK. Equity 189.96m NOK → 95.50m NOK.
On the constructive side: revenue rose; owners injected capital. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: sharp cash drawdown; payroll increased; cogs fell. All figures are taken from the published annual accounts for ARCTICZYMES TECHNOLOGIES ASA.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 45.34m NOK to 82.71m NOK (+82.4% YoY). Calculated
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↑
Owners injected capital
Paid-in equity rose 58.72m NOK → 61.40m NOK (+2.68m NOK). Reported fact
What deteriorated
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↓
Net result weakened
Net result -33.63m NOK → -97.09m NOK (net margin -74.2% → -117.4%). Calculated
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↓
Equity eroded
Book equity 189.96m NOK → 95.50m NOK (equity ratio 87.7% → 76.0%). Calculated
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↓
Cash fell
Bank deposits 133.52m NOK → 45.10m NOK (-66.2% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (133.52m NOK → 45.10m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Payroll increased
Salary cost 29.34m NOK → 32.28m NOK (65% → 39% of revenue). Calculated
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COGS fell
COGS / varekostnad 2.37m NOK → 840.0k NOK (-64.6% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 329.0k NOK → 12 NOK. Reported fact