FRED. OLSEN WINDCARRIER ASA: årsregnskap 2020 vs 2019
Grew 86113% on revenue, returned to profit, fresh owner capital
approved 2021-05-20; registry 2021-09-11; journal 2021 694914
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for FRED. OLSEN WINDCARRIER ASA. Revenue 16.9k NOK → 14.61m NOK (+86113.4%). Net result -385.0k NOK → +37.23m NOK. Equity 176.60m NOK → 214.1k NOK.
On the constructive side: revenue rose; operating result improved; turned profitable. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; payroll increased; book investments changed. All figures are taken from the published annual accounts for FRED. OLSEN WINDCARRIER ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 16.9k NOK to 14.61m NOK (+86113.4% YoY). Calculated
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Operating result improved
Operating result -2.29m NOK → +2.40m NOK (op. margin -13526.9% → 16.5%). Calculated
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Turned profitable
Net result flipped from a loss of 385.0k NOK to a profit of 37.23m NOK. Calculated
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Cash rose
Bank deposits 2 735 NOK → 3.93m NOK (+143702.6% YoY). Calculated
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Owners injected capital
Paid-in equity rose 176.6k NOK → 176.60m NOK (+176.42m NOK). Reported fact
What deteriorated
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↓
Equity eroded
Book equity 176.60m NOK → 214.1k NOK (equity ratio 42.5% → 0.1%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 715814.81× → 0.26× — 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 0.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 8 097 NOK → 7.68m NOK (48% → 53% of revenue). Calculated
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Book investments changed
Investment / intangible book value 318 NOK → 362.4k NOK. Reported fact