ELKEM ASA: årsregnskap 2020 vs 2019
Grew 22% on revenue, weaker earnings
approved 2021-04-27; registry 2021-06-14; journal 2021 307826
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ELKEM ASA. Revenue 6.27bn NOK → 7.63bn NOK (+21.7%). Net result +897.00m NOK → +416.00m NOK. Equity 9.15bn NOK → 9.22bn NOK.
On the constructive side: revenue rose; equity strengthened. Pressures included: operating result weakened; net result weakened; cash fell.
Also worth watching: paid-in equity reduced; payroll increased; cogs moved. All figures are taken from the published annual accounts for ELKEM ASA.
At a glance
Scorecard
What improved
-
↑
Revenue rose
Operating income / revenue moved from 6.27bn NOK to 7.63bn NOK (+21.7% YoY). Calculated
-
↑
Equity strengthened
Book equity 9.15bn NOK → 9.22bn NOK (equity ratio 41.3% → 40.6%). Calculated
What deteriorated
-
↓
Operating result weakened
Operating result +371.00m NOK → +449.0k NOK (op. margin 5.9% → 0.0%). Calculated
-
↓
Net result weakened
Net result +897.00m NOK → +416.00m NOK (net margin 14.3% → 5.5%). Calculated
-
↓
Cash fell
Bank deposits 3.51bn NOK → 1.80bn NOK (-48.8% YoY). Calculated
-
↓
Current ratio dropped below 1×
Current ratio 1.60× → 0.77× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
-
·
Paid-in equity reduced
Paid-in equity fell 6.27bn NOK → 6.21bn NOK — check capital reduction, conversion, or reclassification. Interpretation
-
·
Payroll increased
Salary cost 185.0k NOK → 1.24bn NOK (0% → 16% of revenue). Calculated
-
·
COGS moved
COGS / varekostnad 2.83bn NOK → 3.73bn NOK (+31.8% YoY). Calculated
-
·
Book investments changed
Investment / intangible book value 12.53bn NOK → 14.71bn NOK. Reported fact