NORWEGIAN AIR SHUTTLE ASA: årsregnskap 2008 vs 2007
Grew 47% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for NORWEGIAN AIR SHUTTLE ASA. Revenue 4.23m NOK → 6.23m NOK (+47.3%). Net result +96.9k NOK → +180.8k NOK. Equity 525.01m NOK → 94.0k NOK.
On the constructive side: revenue rose; net result improved. Pressures included: operating result weakened; equity eroded.
Also worth watching: thin equity buffer; paid-in equity reduced; book investments changed. All figures are taken from the published annual accounts for NORWEGIAN AIR SHUTTLE ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 4.23m NOK to 6.23m NOK (+47.3% YoY). Calculated
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Net result improved
Net result +96.9k NOK → +180.8k NOK (net margin 2.3% → 2.9%). Calculated
What deteriorated
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Operating result weakened
Operating result +157.2k NOK → -84.9k NOK (op. margin 3.7% → -1.4%). Calculated
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↓
Equity eroded
Book equity 525.01m NOK → 94.0k NOK (equity ratio 23925.6% → 3.0%). 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
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Paid-in equity reduced
Paid-in equity fell 443.12m NOK → 831.3k NOK — check capital reduction, conversion, or reclassification. Interpretation
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Book investments changed
Investment / intangible book value 419.0k NOK → 384.5k NOK. Reported fact