ELKEM ASA: årsregnskap 2018 vs 2017
Weaker earnings, fresh owner capital
approved 2019-04-30; registry 2019-06-05; journal 2019 379402
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ELKEM ASA. Revenue 7.18bn NOK → 6.94bn NOK (-3.2%). Net result +973.2k NOK → +772.0k NOK. Equity 4.42bn NOK → 8.86bn NOK.
On the constructive side: equity strengthened; cash rose; current ratio back above 1×. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: cogs fell; book investments changed. All figures are taken from the published annual accounts for ELKEM ASA.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity 4.42bn NOK → 8.86bn NOK (equity ratio 38.5% → 40.2%). Calculated
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↑
Cash rose
Bank deposits 846.8k NOK → 5.60m NOK (+560.8% YoY). Calculated
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↑
Current ratio back above 1×
Current ratio 0.88× → 1.44×. Calculated
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↑
Owners injected capital
Paid-in equity rose 2.92bn NOK → 6.59bn NOK (+3.67bn NOK). Reported fact
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 7.18bn NOK to 6.94bn NOK (-3.2% YoY). Calculated
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↓
Operating result weakened
Operating result +333.28m NOK → +263.00m NOK (op. margin 4.6% → 3.8%). Calculated
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↓
Net result weakened
Net result +973.2k NOK → +772.0k NOK (net margin 0.0% → 0.0%). Calculated
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↓
Payroll up without matching revenue
Salary cost 969.3k NOK → 1.03m NOK (0% → 0% of revenue). Calculated
Things to notice
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·
COGS fell
COGS / varekostnad 3.85bn NOK → 3.46bn NOK (-10.2% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 967.0k NOK → 11.56bn NOK. Reported fact