ECOTEQ ENERGY ASA: årsregnskap 2010 vs 2009
Shrank 100% on revenue, stronger earnings, cash halved-plus
approved 2011-10-18; registry 2011-10-22; journal 2011 788831
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for ECOTEQ ENERGY ASA. Revenue 6.42m NOK → 12.9k NOK (-99.8%). Net result -255.06m NOK → -88.29m NOK. Equity 76.79m NOK → 161.58m NOK.
On the constructive side: operating result improved; net result improved; equity strengthened. Pressures included: revenue fell; cash fell; payroll up without matching revenue.
Also worth watching: sharp cash drawdown; book investments changed. All figures are taken from the published annual accounts for ECOTEQ ENERGY ASA.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -198.72m NOK → -17.02m NOK (op. margin -3093.9% → -131961.2%). Calculated
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Net result improved
Net result -255.06m NOK → -88.29m NOK (net margin -3971.0% → -684434.1%). Calculated
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Equity strengthened
Book equity 76.79m NOK → 161.58m NOK (equity ratio 38.1% → 96.8%). Calculated
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Owners injected capital
Paid-in equity rose 344.1k NOK → 517.2k NOK (+173.1k NOK). Reported fact
What deteriorated
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Revenue fell
Operating income / revenue moved from 6.42m NOK to 12.9k NOK (-99.8% YoY). Calculated
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Cash fell
Bank deposits 9.79m NOK → 2.73m NOK (-72.1% YoY). Calculated
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Payroll up without matching revenue
Salary cost 7.78m NOK → 8.01m NOK (121% → 62109% of revenue). Calculated
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COGS moved
COGS / varekostnad 16.44m NOK → 22.64m NOK (+37.6% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (9.79m NOK → 2.73m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Book investments changed
Investment / intangible book value 191.34m NOK → 300.0k NOK. Reported fact