GOLDEN ENERGY OFFSHORE SERVICES ASA: årsregnskap 2015 vs 2014
Grew 64% on revenue, fresh owner capital
approved 2016-04-30; registry 2016-07-14; journal 2016 681984
Summary
What changed
Comparing Årsregnskap 2015 with 2014 for GOLDEN ENERGY OFFSHORE SERVICES ASA. Revenue 63.50m NOK → 103.95m NOK (+63.7%). Equity 152.40m NOK → 34.80m NOK.
On the constructive side: revenue rose; cash rose; owners injected capital. Pressures included: operating result weakened; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for GOLDEN ENERGY OFFSHORE SERVICES ASA.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 63.50m NOK to 103.95m NOK (+63.7% YoY). Calculated
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↑
Cash rose
Bank deposits 17.3k NOK → 7.42m NOK (+42754.0% YoY). Calculated
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↑
Owners injected capital
Paid-in equity rose 154.5k NOK → 154.53m NOK (+154.38m NOK). Reported fact
What deteriorated
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↓
Operating result weakened
Operating result +17.31m NOK → +54.3k NOK (op. margin 27.3% → 0.1%). Calculated
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↓
Equity eroded
Book equity 152.40m NOK → 34.80m NOK (equity ratio 28.5% → 8.5%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1367.04× → 0.12× — 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 8.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation