Org.nr 917 772 533 2017 → 2018 Year-over-year analysis

OLYMPIC SUBSEA ASA: årsregnskap 2018 vs 2017

Shrank 91% on revenue, cash halved-plus

approved 2019-04-29; registry 2019-07-10; journal 2019 669512

Summary

What changed

Comparing Årsregnskap 2018 with 2017 for OLYMPIC SUBSEA ASA. Revenue 6.58bn NOK → 562.11m NOK (-91.5%). Equity 8.25bn NOK → 8.24bn NOK.

On the constructive side: payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.

Also worth watching: sharp cash drawdown; paid-in equity reduced. All figures are taken from the published annual accounts for OLYMPIC SUBSEA ASA.

At a glance

Revenue

6.58bn NOK 562.11m NOK

-91.5%

Operating result

+36.04m NOK n/m

—

Net result

n/m -156.35m NOK

—

Equity

8.25bn NOK 8.24bn NOK

-0.0%

Cash

21.27m NOK 85.6k NOK

-99.6%

Total assets

511.98m NOK 555.04m NOK

+8.4%

↑
Payroll decreased

Salary cost 19.31bn NOK → 251.41m NOK (293% → 45% of revenue). Calculated

↓
Revenue fell

Operating income / revenue moved from 6.58bn NOK to 562.11m NOK (-91.5% YoY). Calculated
↓
Equity eroded

Book equity 8.25bn NOK → 8.24bn NOK (equity ratio 1610.9% → 1485.3%). Calculated
↓
Cash fell

Bank deposits 21.27m NOK → 85.6k NOK (-99.6% YoY). Calculated

·
Sharp cash drawdown

Cash fell by more than 60% YoY (21.27m NOK → 85.6k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
·
Paid-in equity reduced

Paid-in equity fell 247.70m NOK → 243.71m NOK — check capital reduction, conversion, or reclassification. Interpretation