ELOPAK ASA: årsregnskap 2010 vs 2009
Shrank 12% on revenue, stronger earnings, fresh owner capital
approved 2011-03-10; registry 2011-08-29; journal 2011 647989
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for ELOPAK ASA. Revenue 359.65m NOK → 316.37m NOK (-12.0%). Net result +133.7k NOK → +164.19m NOK. Equity 545.8k NOK → 700.2k NOK.
On the constructive side: operating result improved; net result improved; equity strengthened. Pressures included: revenue fell; payroll up without matching revenue.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ELOPAK ASA.
At a glance
Scorecard
What improved
-
↑
Operating result improved
Operating result +23 NOK → +2 010 NOK (op. margin 0.0% → 0.0%). Calculated
-
↑
Net result improved
Net result +133.7k NOK → +164.19m NOK (net margin 0.0% → 51.9%). Calculated
-
↑
Equity strengthened
Book equity 545.8k NOK → 700.2k NOK (equity ratio 29.6% → 0.0%). Calculated
-
↑
Cash rose
Bank deposits 6 779 NOK → 3.94m NOK (+57991.2% YoY). Calculated
-
↑
Current ratio back above 1×
Current ratio 0.31× → 1102.97×. Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 359.65m NOK to 316.37m NOK (-12.0% YoY). Calculated
-
↓
Payroll up without matching revenue
Salary cost 7 NOK → 4.10bn NOK (0% → 1297% of revenue). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Book investments changed
Investment / intangible book value 50 NOK → 50.0k NOK. Reported fact