&MORE AS: årsregnskap 2021 vs 2020
Shrank 18% on revenue, weaker earnings
approved 2022-03-11; registry 2022-03-14; journal 2022 146695
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for &MORE AS. Revenue 2.35m NOK → 1.94m NOK (-17.6%). Net result +991.0k NOK → +674.0k NOK. Equity 31.0k NOK → 31.0k NOK.
On the constructive side: operating result improved; cash rose. Pressures included: revenue fell; net result weakened; payroll up without matching revenue.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for &MORE AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +271.6k NOK → +866.4k NOK (op. margin 11.5% → 44.7%). Calculated
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Cash rose
Bank deposits 1.45m NOK → 3.98m NOK (+173.8% YoY). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 2.35m NOK to 1.94m NOK (-17.6% YoY). Calculated
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↓
Net result weakened
Net result +991.0k NOK → +674.0k NOK (net margin 42.1% → 34.8%). Calculated
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Payroll up without matching revenue
Salary cost 1.02m NOK → 1.03m NOK (43% → 53% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 3.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation