REACH SUBSEA ASA: årsregnskap 2020 vs 2019
Grew 774% on revenue, returned to profit, cash halved-plus
approved 2021-03-25; registry 2021-07-10; journal 2021 464619
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for REACH SUBSEA ASA. Revenue 8.24m NOK → 72.05m NOK (+774.5%). Net result -35.71m NOK → +43.10m NOK. Equity 213.6k NOK → 220.2k NOK.
On the constructive side: revenue rose; turned profitable; equity strengthened. Pressures included: operating result weakened; cash fell.
Also worth watching: sharp cash drawdown; 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
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Revenue rose
Operating income / revenue moved from 8.24m NOK to 72.05m NOK (+774.5% YoY). Calculated
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Turned profitable
Net result flipped from a loss of 35.71m NOK to a profit of 43.10m NOK. Calculated
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↑
Equity strengthened
Book equity 213.6k NOK → 220.2k NOK (equity ratio 0.1% → 86.2%). Calculated
What deteriorated
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↓
Operating result weakened
Operating result -2.21m NOK → -4.97m NOK (op. margin -26.8% → -6.9%). Calculated
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↓
Cash fell
Bank deposits 38.66m NOK → 4.64m NOK (-88.0% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (38.66m NOK → 4.64m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Paid-in equity reduced
Paid-in equity fell 205.08m NOK → 205.2k NOK — check capital reduction, conversion, or reclassification. Interpretation
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Book investments changed
Investment / intangible book value 23.86m NOK → 196.04m NOK. Reported fact