NORWEGIAN AIR SHUTTLE ASA: årsregnskap 2009 vs 2008
Grew 11% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for NORWEGIAN AIR SHUTTLE ASA. Revenue 6.23m NOK → 6.93m NOK (+11.3%). Net result +180.8k NOK → +243.4k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: current ratio dropped below 1×.
Also worth watching: 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 6.23m NOK to 6.93m NOK (+11.3% YoY). Calculated
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Operating result improved
Operating result -84.9k NOK → +604.9k NOK (op. margin -1.4% → 8.7%). Calculated
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Net result improved
Net result +180.8k NOK → +243.4k NOK (net margin 2.9% → 3.5%). Calculated
What deteriorated
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↓
Current ratio dropped below 1×
Current ratio 3.36× → 0.99× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Paid-in equity reduced
Paid-in equity fell 831.3k NOK → 1 092 NOK — check capital reduction, conversion, or reclassification. Interpretation
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Book investments changed
Investment / intangible book value 384.5k NOK → 137.3k NOK. Reported fact