CYTOVATION ASA: årsregnskap 2003 vs 2002
Grew 538% on revenue
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for CYTOVATION ASA. Revenue 65.0k NOK → 415.0k NOK (+538.5%). Equity 58.2k NOK → 38.7k NOK.
On the constructive side: revenue rose; operating result improved; payroll decreased. Pressures included: equity eroded.
Also worth watching: thin equity buffer; paid-in equity reduced. All figures are taken from the published annual accounts for CYTOVATION ASA.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 65.0k NOK to 415.0k NOK (+538.5% YoY). Calculated
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↑
Operating result improved
Operating result -40.6k NOK → -27.4k NOK (op. margin -62.4% → -6.6%). Calculated
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↑
Payroll decreased
Salary cost 53.5k NOK → 11.4k NOK (82% → 3% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity 58.2k NOK → 38.7k NOK (equity ratio 14.0% → 8.0%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 8.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Paid-in equity reduced
Paid-in equity fell 100.0k NOK → 102 NOK — check capital reduction, conversion, or reclassification. Interpretation