NUSSIR ASA: årsregnskap 2003 vs 2002
Shrank 69% on revenue, slipped into loss
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for NUSSIR ASA. Revenue 3.74m NOK → 1.16m NOK (-68.9%). Net result +696.4k NOK → -282.7k NOK. Equity 403.3k NOK → 120.5k NOK.
Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for NUSSIR ASA.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 3.74m NOK to 1.16m NOK (-68.9% YoY). Calculated
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Operating result weakened
Operating result +969.1k NOK → -241.7k NOK (op. margin 25.9% → -20.8%). Calculated
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Fell into a net loss
Net result flipped from 696.4k NOK profit to a loss of 282.7k NOK. Calculated
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Equity eroded
Book equity 403.3k NOK → 120.5k NOK (equity ratio 14.5% → 4.2%). Calculated
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Payroll up without matching revenue
Salary cost 89.7k NOK → 160.3k NOK (2% → 14% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 4.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Book investments changed
Investment / intangible book value 750.1k NOK → 25.0k NOK. Reported fact