HEXAGON COMPOSITES ASA: årsregnskap 2014 vs 2013
Grew 73% on revenue, stronger earnings, cash halved-plus
approved 2015-04-21; registry 2015-08-11; journal 2015 696172
Summary
What changed
Comparing Årsregnskap 2014 with 2013 for HEXAGON COMPOSITES ASA. Revenue 12.48m NOK → 21.63m NOK (+73.3%). Net result +6 NOK → +72.11m NOK. Equity 126.67m NOK → 90.03m NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; cash fell; current ratio dropped below 1×.
Also worth watching: sharp cash drawdown; paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for HEXAGON COMPOSITES ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 12.48m NOK to 21.63m NOK (+73.3% YoY). Calculated
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Operating result improved
Operating result +201.9k NOK → +256.8k NOK (op. margin 1.6% → 1.2%). Calculated
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Net result improved
Net result +6 NOK → +72.11m NOK (net margin 0.0% → 333.3%). Calculated
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Payroll decreased
Salary cost 27321407000.24bn NOK → 18 NOK (218868917730001% → 0% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity 126.67m NOK → 90.03m NOK (equity ratio 18.9% → 13.7%). Calculated
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Cash fell
Bank deposits 61.84m NOK → 654.0k NOK (-98.9% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.61× → 0.00× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (61.84m NOK → 654.0k 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 98.50m NOK → 90.03m NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 667.54m NOK → 13.81m NOK (-97.9% YoY). Calculated
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Book investments changed
Investment / intangible book value 4.05m NOK → 4.15m NOK. Reported fact