ELKEM ASA: årsregnskap 2017 vs 2016
Stronger earnings, cash halved-plus
approved 2018-03-09; registry 2018-05-24; journal 2018 342471
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for ELKEM ASA. Revenue 7.01bn NOK → 7.18bn NOK (+2.4%). Net result +584.9k NOK → +973.2k NOK. Equity 4.37bn NOK → 4.42bn NOK.
On the constructive side: revenue rose; net result improved; equity strengthened. Pressures included: operating result weakened; cash fell.
Also worth watching: sharp cash drawdown; paid-in equity reduced; payroll increased. All figures are taken from the published annual accounts for ELKEM ASA.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 7.01bn NOK to 7.18bn NOK (+2.4% YoY). Calculated
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↑
Net result improved
Net result +584.9k NOK → +973.2k NOK (net margin 0.0% → 0.0%). Calculated
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↑
Equity strengthened
Book equity 4.37bn NOK → 4.42bn NOK (equity ratio 42.1% → 38.5%). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +549.77m NOK → +333.28m NOK (op. margin 7.8% → 4.6%). Calculated
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↓
Cash fell
Bank deposits 292.47m NOK → 846.8k NOK (-99.7% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (292.47m NOK → 846.8k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Paid-in equity reduced
Paid-in equity fell 3.09bn NOK → 2.92bn NOK — check capital reduction, conversion, or reclassification. Interpretation
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Payroll increased
Salary cost 912.9k NOK → 969.3k NOK (0% → 0% of revenue). Calculated
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COGS fell
COGS / varekostnad 3.96bn NOK → 3.85bn NOK (-2.8% YoY). Calculated
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Book investments changed
Investment / intangible book value 12.67m NOK → 967.0k NOK. Reported fact