NORWEGIAN AIR SHUTTLE ASA: årsregnskap 2021 vs 2020
Shrank 43% on revenue, returned to profit, fresh owner capital
approved 2022-04-28; registry 2022-06-22; journal 2022 484489
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for NORWEGIAN AIR SHUTTLE ASA. Revenue 6.90bn NOK → 3.95bn NOK (-42.8%). Net result -33.85m NOK → +12.99bn NOK. Equity -9.34bn NOK → 11.55bn NOK.
On the constructive side: operating result improved; turned profitable; equity strengthened. Pressures included: revenue fell; payroll up without matching revenue.
Also worth watching: 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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Operating result improved
Operating result -35.76bn NOK → +2.33bn NOK (op. margin -518.1% → 59.0%). Calculated
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Turned profitable
Net result flipped from a loss of 33.85m NOK to a profit of 12.99bn NOK. Calculated
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Equity strengthened
Book equity -9.34bn NOK → 11.55bn NOK (equity ratio -75.9% → 65.4%). Calculated
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Cash rose
Bank deposits 2.44bn NOK → 7.29bn NOK (+198.4% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.34× → 3.63×. Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 6.90bn NOK to 3.95bn NOK (-42.8% YoY). Calculated
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Payroll up without matching revenue
Salary cost 1.16bn NOK → 6.45bn NOK (17% → 163% of revenue). Calculated
Things to notice
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Book investments changed
Investment / intangible book value 2.24bn NOK → 5.87bn NOK. Reported fact