NEKKAR ASA: årsregnskap 2012 vs 2011
Shrank 14% on revenue, stronger earnings, cash halved-plus
approved 2013-06-10; registry 2013-07-09; journal 2013 544846
Summary
What changed
Comparing Årsregnskap 2012 with 2011 for NEKKAR ASA. Revenue 28.14m NOK → 24.09m NOK (-14.4%). Net result +22.90m NOK → +450.42m NOK. Equity 18.62m NOK → 483.46m NOK.
On the constructive side: net result improved; equity strengthened; owners injected capital. Pressures included: revenue fell; operating result weakened; cash fell.
Also worth watching: sharp cash drawdown; book investments changed. All figures are taken from the published annual accounts for NEKKAR ASA.
At a glance
Scorecard
What improved
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Net result improved
Net result +22.90m NOK → +450.42m NOK (net margin 81.4% → 1869.7%). Calculated
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Equity strengthened
Book equity 18.62m NOK → 483.46m NOK (equity ratio 1.3% → 47.8%). Calculated
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Owners injected capital
Paid-in equity rose 422.7k NOK → 158.87m NOK (+158.45m NOK). Reported fact
What deteriorated
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Revenue fell
Operating income / revenue moved from 28.14m NOK to 24.09m NOK (-14.4% YoY). Calculated
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Operating result weakened
Operating result -11.79m NOK → -16.82m NOK (op. margin -41.9% → -69.8%). Calculated
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Cash fell
Bank deposits 114.24m NOK → 3.15m NOK (-97.2% YoY). Calculated
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Payroll up without matching revenue
Salary cost 5.73m NOK → 24.25m NOK (20% → 101% of revenue). Calculated
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COGS moved
COGS / varekostnad 54.0k NOK → 22.54m NOK (+41644.8% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (114.24m NOK → 3.15m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Book investments changed
Investment / intangible book value 222.0k NOK → 28.9k NOK. Reported fact