NAVAMEDIC ASA: årsregnskap 2008 vs 2007
Weaker earnings, cash halved-plus
approved 2009-03-06; registry 2009-04-27
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for NAVAMEDIC ASA. Revenue 20.43m NOK → 19.77m NOK (-3.2%). Net result -3.21m NOK → -8.08m NOK. Equity 108.57m NOK → 100.53m NOK.
Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: sharp cash drawdown; paid-in equity reduced; book investments changed. All figures are taken from the published annual accounts for NAVAMEDIC ASA.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 20.43m NOK to 19.77m NOK (-3.2% YoY). Calculated
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↓
Net result weakened
Net result -3.21m NOK → -8.08m NOK (net margin -15.7% → -40.8%). Calculated
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↓
Equity eroded
Book equity 108.57m NOK → 100.53m NOK (equity ratio 69.0% → 81.0%). Calculated
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↓
Cash fell
Bank deposits 33.64m NOK → 3.45m NOK (-89.7% YoY). Calculated
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Payroll up without matching revenue
Salary cost 6.08m NOK → 8.17m NOK (30% → 41% of revenue). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (33.64m NOK → 3.45m 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 108.57m NOK → 100.53m NOK — check capital reduction, conversion, or reclassification. Interpretation
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Book investments changed
Investment / intangible book value 92.11m NOK → 2 437 NOK. Reported fact