ELOPAK ASA: årsregnskap 2002 vs 2001
Weaker earnings, cash halved-plus, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2002 with 2001 for ELOPAK ASA. Revenue 2 001 NOK → 2 002 NOK (+0.0%). Net result +125.2k NOK → +38.0k NOK. Equity 586.5k NOK → 68.9k NOK.
On the constructive side: revenue rose; operating result improved; owners injected capital. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: thin equity buffer; payroll increased; book investments changed. All figures are taken from the published annual accounts for ELOPAK ASA.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 2 001 NOK to 2 002 NOK (+0.0% YoY). Calculated
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↑
Operating result improved
Operating result +2 001 NOK → +57.4k NOK (op. margin 100.0% → 2865.5%). Calculated
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↑
Owners injected capital
Paid-in equity rose 353.2k NOK → 876.7k NOK (+523.6k NOK). Reported fact
What deteriorated
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↓
Net result weakened
Net result +125.2k NOK → +38.0k NOK (net margin 6258.1% → 1896.1%). Calculated
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↓
Equity eroded
Book equity 586.5k NOK → 68.9k NOK (equity ratio 18.3% → 2.6%). Calculated
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↓
Cash fell
Bank deposits 57.4k NOK → 12.4k NOK (-78.3% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 2.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost -138.5k NOK → 3 NOK (-6921% → 0% of revenue). Calculated
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·
Book investments changed
Investment / intangible book value 2 001 NOK → 25 NOK. Reported fact