REACH SUBSEA ASA: årsregnskap 2010 vs 2009
Weaker earnings
approved 2011-04-29; registry 2011-06-11; journal 2011 390026
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for REACH SUBSEA ASA. Revenue 7.70m NOK → 8.03m NOK (+4.2%). Net result -39.78m NOK → -52.64m NOK. Equity 665.20m NOK → 479.01m NOK.
On the constructive side: revenue rose; cash rose; payroll decreased. Pressures included: net result weakened; equity eroded; 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 REACH SUBSEA ASA.
At a glance
Scorecard
What improved
-
↑
Revenue rose
Operating income / revenue moved from 7.70m NOK to 8.03m NOK (+4.2% YoY). Calculated
-
↑
Cash rose
Bank deposits 58.23m NOK → 70.62m NOK (+21.3% YoY). Calculated
-
↑
Payroll decreased
Salary cost 7.43m NOK → 6.55m NOK (96% → 82% of revenue). Calculated
What deteriorated
-
↓
Net result weakened
Net result -39.78m NOK → -52.64m NOK (net margin -516.7% → -655.9%). Calculated
-
↓
Equity eroded
Book equity 665.20m NOK → 479.01m NOK (equity ratio 240563.9% → 60147.7%). Calculated
-
↓
Current ratio dropped below 1×
Current ratio 2.02× → 0.23× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
-
·
Paid-in equity reduced
Paid-in equity fell 665.20m NOK → 479.01m NOK — check capital reduction, conversion, or reclassification. Interpretation
-
·
Book investments changed
Investment / intangible book value 172.0k NOK → 283 NOK. Reported fact