ELOPAK ASA: årsregnskap 2020 vs 2019
Grew 7% on revenue, stronger earnings, cash halved-plus
approved 2021-05-06; registry 2021-08-21; journal 2021 633802
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ELOPAK ASA. Revenue 525.1k NOK → 559.8k NOK (+6.6%). Net result +10.12m NOK → +30.85m NOK. Equity 108.48m NOK → 135.1k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; cogs moved. 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 525.1k NOK to 559.8k NOK (+6.6% YoY). Calculated
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Operating result improved
Operating result +12 NOK → +14.77m NOK (op. margin 0.0% → 2638.2%). Calculated
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Net result improved
Net result +10.12m NOK → +30.85m NOK (net margin 1926.8% → 5510.2%). Calculated
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Owners injected capital
Paid-in equity rose 77.82m NOK → 80.45m NOK (+2.64m NOK). Reported fact
What deteriorated
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↓
Equity eroded
Book equity 108.48m NOK → 135.1k NOK (equity ratio 18.2% → 0.0%). Calculated
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Cash fell
Bank deposits 5.01m NOK → 1.11m NOK (-77.7% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (5.01m NOK → 1.11m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS moved
COGS / varekostnad 450.4k NOK → 457.7k NOK (+1.6% YoY). Calculated
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Book investments changed
Investment / intangible book value 400.5k NOK → 367.51m NOK. Reported fact