ARCTICZYMES TECHNOLOGIES ASA: årsregnskap 2018 vs 2017
Shrank 5% on revenue, weaker earnings, cash halved-plus
approved 2019-03-13; registry 2019-07-22; journal 2019 760943
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ARCTICZYMES TECHNOLOGIES ASA. Revenue 15.07m NOK → 14.31m NOK (-5.1%). Net result -24.94m NOK → -115.28m NOK. Equity 297.08m NOK → 204.71m NOK.
On the constructive side: owners injected capital. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: sharp cash drawdown; cogs fell; book investments changed. All figures are taken from the published annual accounts for ARCTICZYMES TECHNOLOGIES ASA.
At a glance
Scorecard
What improved
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Owners injected capital
Paid-in equity rose 177.32m NOK → 246.52m NOK (+69.19m NOK). Reported fact
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 15.07m NOK to 14.31m NOK (-5.1% YoY). Calculated
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↓
Net result weakened
Net result -24.94m NOK → -115.28m NOK (net margin -165.4% → -805.6%). Calculated
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↓
Equity eroded
Book equity 297.08m NOK → 204.71m NOK (equity ratio 98.6% → 99.1%). Calculated
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Cash fell
Bank deposits 54.87m NOK → 10.06m NOK (-81.7% YoY). Calculated
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Payroll up without matching revenue
Salary cost 15.84m NOK → 40.24m NOK (105% → 281% of revenue). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (54.87m NOK → 10.06m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS fell
COGS / varekostnad 21.93m NOK → 19.37m NOK (-11.7% YoY). Calculated
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Book investments changed
Investment / intangible book value 244.54m NOK → 195.50m NOK. Reported fact