EIDESVIK OFFSHORE ASA: årsregnskap 2010 vs 2009
Grew 1917545% on revenue, slipped into loss, cash halved-plus
approved 2011-04-11; registry 2011-07-26; journal 2011 535798
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for EIDESVIK OFFSHORE ASA. Revenue 55.0k NOK → 1.05bn NOK (+1917545.5%). Net result +1.09bn NOK → -49.73m NOK. Equity 7.35m NOK → 736.9k NOK.
On the constructive side: revenue rose; owners injected capital; payroll decreased. Pressures included: operating result weakened; fell into a net loss; equity eroded.
Also worth watching: sharp cash drawdown. All figures are taken from the published annual accounts for EIDESVIK OFFSHORE ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 55.0k NOK to 1.05bn NOK (+1917545.5% YoY). Calculated
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Owners injected capital
Paid-in equity rose 2.00m NOK → 2.06m NOK (+58.0k NOK). Reported fact
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Payroll decreased
Salary cost 11.34m NOK → 365.8k NOK (20614% → 0% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result -8.18m NOK → -9.33m NOK (op. margin -14870.9% → -0.9%). Calculated
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Fell into a net loss
Net result flipped from 1.09bn NOK profit to a loss of 49.73m NOK. Calculated
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↓
Equity eroded
Book equity 7.35m NOK → 736.9k NOK (equity ratio 1.7% → 94.2%). Calculated
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↓
Cash fell
Bank deposits 7.14m NOK → 2.34m NOK (-67.2% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (7.14m NOK → 2.34m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation