REACH SUBSEA ASA: årsregnskap 2015 vs 2014
Shrank 100% on revenue, returned to profit
approved 2016-04-25; registry 2016-07-18; journal 2016 699272
Summary
What changed
Comparing Årsregnskap 2015 with 2014 for REACH SUBSEA ASA. Revenue 311.15m NOK → 634.4k NOK (-99.8%). Net result -3.55m NOK → +5.81m NOK. Equity 14.16m NOK → 162.9k NOK.
On the constructive side: turned profitable; cash rose. Pressures included: revenue fell; equity eroded; payroll up without matching revenue.
Also worth watching: paid-in equity reduced; cogs fell; book investments changed. All figures are taken from the published annual accounts for REACH SUBSEA ASA.
At a glance
Scorecard
What improved
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↑
Turned profitable
Net result flipped from a loss of 3.55m NOK to a profit of 5.81m NOK. Calculated
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↑
Cash rose
Bank deposits 71.39m NOK → 82.86m NOK (+16.1% YoY). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 311.15m NOK to 634.4k NOK (-99.8% YoY). Calculated
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↓
Equity eroded
Book equity 14.16m NOK → 162.9k NOK (equity ratio 9.0% → 99.7%). Calculated
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↓
Payroll up without matching revenue
Salary cost 11 NOK → 53.88m NOK (0% → 8494% of revenue). Calculated
Things to notice
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·
Paid-in equity reduced
Paid-in equity fell 157.09m NOK → 12.16m NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
COGS fell
COGS / varekostnad 42.66m NOK → 29.09m NOK (-31.8% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 81.24m NOK → 23.86m NOK. Reported fact