EIDESVIK OFFSHORE ASA: årsregnskap 2019 vs 2018
Shrank 100% on revenue, cash halved-plus
approved 2020-04-29; registry 2020-08-29; journal 2020 706715
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for EIDESVIK OFFSHORE ASA. Revenue 489.23m NOK → 681.6k NOK (-99.9%). Equity 780.7k NOK → 490.04m NOK.
On the constructive side: operating 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 EIDESVIK OFFSHORE ASA.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -15.54m NOK → -11.40m NOK (op. margin -3.2% → -1672.2%). Calculated
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↑
Equity strengthened
Book equity 780.7k NOK → 490.04m NOK (equity ratio 85.1% → 82.1%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 489.23m NOK to 681.6k NOK (-99.9% YoY). Calculated
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↓
Cash fell
Bank deposits 515.61m NOK → 673.2k NOK (-99.9% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 11.27m NOK → 11.31m NOK (2% → 1659% of revenue). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (515.61m NOK → 673.2k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Book investments changed
Investment / intangible book value 22.7k NOK → 522.79m NOK. Reported fact