FirmaIQ
Org.nr 882 811 972 2015 → 2016 Year-over-year analysis

HAVILA SHIPPING ASA: årsregnskap 2016 vs 2015

Shrank 97% on revenue, cash halved-plus

approved 2017-04-07; registry 2017-07-01; journal 2017 551088

Full company analysis · All year comparisons

Summary

What changed

Comparing Årsregnskap 2016 with 2015 for HAVILA SHIPPING ASA. Revenue 12.54bn NOK → 411.79m NOK (-96.7%). Equity 1.18bn NOK → -171.21m NOK.

On the constructive side: payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.

Also worth watching: thin equity buffer; sharp cash drawdown; book investments changed. All figures are taken from the published annual accounts for HAVILA SHIPPING ASA.

At a glance

Scorecard

Revenue
12.54bn NOK 411.79m NOK
-96.7%
Net result
-1.53bn NOK n/m
—
Equity
1.18bn NOK -171.21m NOK
-114.5%
Cash
151.61m NOK 20.47m NOK
-86.5%
Total assets
2.91bn NOK 1.68bn NOK
-42.3%

What improved

  • ↑

    Payroll decreased

    Salary cost 13.44bn NOK → 13.33bn NOK (107% → 3236% of revenue). Calculated

What deteriorated

  • ↓

    Revenue fell

    Operating income / revenue moved from 12.54bn NOK to 411.79m NOK (-96.7% YoY). Calculated

  • ↓

    Equity eroded

    Book equity 1.18bn NOK → -171.21m NOK (equity ratio 40.5% → -10.2%). Calculated

  • ↓

    Cash fell

    Bank deposits 151.61m NOK → 20.47m NOK (-86.5% YoY). Calculated

Things to notice

  • ·

    Thin equity buffer

    Equity ratio is -10.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation

  • ·

    Sharp cash drawdown

    Cash fell by more than 60% YoY (151.61m NOK → 20.47m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation

  • ·

    Book investments changed

    Investment / intangible book value 326.2k NOK → 1.85m NOK. Reported fact