OLYMPIC SUBSEA ASA: årsregnskap 2020 vs 2019
Shrank 10% on revenue, weaker earnings
approved 2021-08-31; registry 2021-10-13; journal 2021 810529
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for OLYMPIC SUBSEA ASA. Revenue 628.62m NOK → 562.92m NOK (-10.5%). Net result -275.22m NOK → -388.92m NOK. Equity 8.12bn NOK → -271.02m NOK.
On the constructive side: operating result improved; cash rose. Pressures included: revenue fell; net 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 OLYMPIC SUBSEA ASA.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -12.38m NOK → -2.90m NOK (op. margin -2.0% → -0.5%). Calculated
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Cash rose
Bank deposits 8.35m NOK → 44.48m NOK (+432.5% YoY). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 628.62m NOK to 562.92m NOK (-10.5% YoY). Calculated
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↓
Net result weakened
Net result -275.22m NOK → -388.92m NOK (net margin -43.8% → -69.1%). Calculated
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↓
Equity eroded
Book equity 8.12bn NOK → -271.02m NOK (equity ratio 1961.6% → -10.4%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -10.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Paid-in equity reduced
Paid-in equity fell 117.90m NOK → 64.00m NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
Book investments changed
Investment / intangible book value 25.0k NOK → 125.0k NOK. Reported fact