REACH SUBSEA ASA: årsregnskap 2019 vs 2018
Weaker earnings
approved 2020-04-27; registry 2020-07-01; journal 2020 509527
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for REACH SUBSEA ASA. Revenue 8.19m NOK → 8.24m NOK (+0.6%). Net result -9.06m NOK → -35.71m NOK. Equity 205.08m NOK → 213.6k NOK.
On the constructive side: revenue rose; operating result improved; cash rose. Pressures included: net result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for REACH SUBSEA ASA.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 8.19m NOK to 8.24m NOK (+0.6% YoY). Calculated
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↑
Operating result improved
Operating result -34.72m NOK → -2.21m NOK (op. margin -423.9% → -26.8%). Calculated
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↑
Cash rose
Bank deposits 8.69m NOK → 38.66m NOK (+344.7% YoY). Calculated
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↑
Current ratio back above 1×
Current ratio 0.02× → 125.07×. Calculated
What deteriorated
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↓
Net result weakened
Net result -9.06m NOK → -35.71m NOK (net margin -110.6% → -433.4%). Calculated
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↓
Equity eroded
Book equity 205.08m NOK → 213.6k NOK (equity ratio 94.5% → 0.1%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation