EIDESVIK OFFSHORE ASA: årsregnskap 2011 vs 2010
Grew 374% on revenue, returned to profit, cash halved-plus
approved 2012-04-23; registry 2012-07-19; journal 2012 550854
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for EIDESVIK OFFSHORE ASA. Revenue 1.05bn NOK → 5.00bn NOK (+374.0%). Net result -49.73m NOK → +3.34m NOK. Equity 736.9k NOK → 5.71m NOK.
On the constructive side: revenue rose; operating result improved; turned profitable. Pressures included: cash fell; current ratio dropped below 1×.
Also worth watching: thin equity buffer; payroll increased. 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 1.05bn NOK to 5.00bn NOK (+374.0% YoY). Calculated
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↑
Operating result improved
Operating result -9.33m NOK → +178.30m NOK (op. margin -0.9% → 3.6%). Calculated
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↑
Turned profitable
Net result flipped from a loss of 49.73m NOK to a profit of 3.34m NOK. Calculated
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↑
Equity strengthened
Book equity 736.9k NOK → 5.71m NOK (equity ratio 94.2% → 0.8%). Calculated
What deteriorated
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↓
Cash fell
Bank deposits 2.34m NOK → 937.0k NOK (-60.0% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 5.25× → 0.43× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 365.8k NOK → 360.73m NOK (0% → 7% of revenue). Calculated