ENSURGE MICROPOWER ASA: årsregnskap 2019 vs 2018
Shrank 75% on revenue, cash halved-plus
approved 2020-04-30; registry 2020-09-09; journal 2020 765912
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ENSURGE MICROPOWER ASA. Revenue 20.39m NOK → 5.18m NOK (-74.6%). Equity 483.48m NOK → -8.06m NOK.
On the constructive side: operating result improved. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; paid-in equity reduced. All figures are taken from the published annual accounts for ENSURGE MICROPOWER ASA.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -434.73m NOK → -326.17m NOK (op. margin -2132.0% → -6294.3%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 20.39m NOK to 5.18m NOK (-74.6% YoY). Calculated
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↓
Equity eroded
Book equity 483.48m NOK → -8.06m NOK (equity ratio 85.5% → -12.1%). Calculated
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↓
Cash fell
Bank deposits 242.82m NOK → 27.72m NOK (-88.6% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 4.23× → 0.39× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is -12.1% 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 (242.82m NOK → 27.72m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Paid-in equity reduced
Paid-in equity fell 2.55bn NOK → 128.91m NOK — check capital reduction, conversion, or reclassification. Interpretation
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Book investments changed
Investment / intangible book value 198.97m NOK → 37.38m NOK. Reported fact