GOLDEN ENERGY OFFSHORE SERVICES ASA: årsregnskap 2020 vs 2019
Weaker earnings, cash halved-plus
approved 2021-05-28; registry 2021-07-03; journal 2021 434320
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for GOLDEN ENERGY OFFSHORE SERVICES ASA. Revenue 165.3k NOK → 165.3k NOK (0.0%). Net result -8.33m NOK → -165.19m NOK. Equity 295.00m NOK → 140.25m NOK.
On the constructive side: operating result improved; owners injected capital. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: sharp cash drawdown; book investments changed. 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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Operating result improved
Operating result -11.44m NOK → -10.29m NOK (op. margin -6919.9% → -6229.7%). Calculated
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Owners injected capital
Paid-in equity rose 230.18m NOK → 240.61m NOK (+10.44m NOK). Reported fact
What deteriorated
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Net result weakened
Net result -8.33m NOK → -165.19m NOK (net margin -5038.8% → -99958.3%). Calculated
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Equity eroded
Book equity 295.00m NOK → 140.25m NOK (equity ratio 99.1% → 97.7%). Calculated
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Cash fell
Bank deposits 1.25m NOK → 57.5k NOK (-95.4% YoY). Calculated
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COGS moved
COGS / varekostnad 75.52m NOK → 80.66m NOK (+6.8% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (1.25m NOK → 57.5k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Book investments changed
Investment / intangible book value 140.50m NOK → 66.85m NOK. Reported fact