NORBIT ASA: årsregnskap 2020 vs 2019
Grew 35% on revenue, weaker earnings
approved 2021-05-04; registry 2021-08-03; journal 2021 559353
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for NORBIT ASA. Revenue 18.07m NOK → 24.38m NOK (+34.9%). Net result +77.26m NOK → +29.76m NOK. Equity 405.3k NOK → 418.0k NOK.
On the constructive side: revenue rose; operating result improved; equity strengthened. Pressures included: net result weakened.
Also worth watching: thin equity buffer; cogs moved; book investments changed. All figures are taken from the published annual accounts for NORBIT ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 18.07m NOK to 24.38m NOK (+34.9% YoY). Calculated
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Operating result improved
Operating result -31.95m NOK → -14.87m NOK (op. margin -176.8% → -61.0%). Calculated
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Equity strengthened
Book equity 405.3k NOK → 418.0k NOK (equity ratio 70.5% → 0.1%). Calculated
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Cash rose
Bank deposits 11.2k NOK → 764.0k NOK (+6729.4% YoY). Calculated
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Payroll decreased
Salary cost 34.49m NOK → 18.96m NOK (191% → 78% of revenue). Calculated
What deteriorated
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Net result weakened
Net result +77.26m NOK → +29.76m NOK (net margin 427.5% → 122.1%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS moved
COGS / varekostnad 4 515 NOK → 14.29m NOK (+316459.7% YoY). Calculated
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Book investments changed
Investment / intangible book value 344.0k NOK → 15.2k NOK. Reported fact