SALMAR ASA: årsregnskap 2002 vs 2001
Slipped into loss, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2002 with 2001 for SALMAR ASA. Revenue 11.34m NOK → 11.90m NOK (+4.9%). Net result +17.29m NOK → -24.36m NOK. Equity 51.84m NOK → 28.81m NOK.
On the constructive side: revenue rose; current ratio back above 1×; owners injected capital. Pressures included: operating result weakened; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for SALMAR ASA.
At a glance
Scorecard
What improved
-
↑
Revenue rose
Operating income / revenue moved from 11.34m NOK to 11.90m NOK (+4.9% YoY). Calculated
-
↑
Current ratio back above 1×
Current ratio 1.00× → 16.16×. Calculated
-
↑
Owners injected capital
Paid-in equity rose 1.00m NOK → 2.33m NOK (+1.33m NOK). Reported fact
-
↑
Payroll decreased
Salary cost 6.84m NOK → 5.24m NOK (60% → 44% of revenue). Calculated
What deteriorated
-
↓
Operating result weakened
Operating result +440.7k NOK → +163.2k NOK (op. margin 3.9% → 1.4%). Calculated
-
↓
Fell into a net loss
Net result flipped from 17.29m NOK profit to a loss of 24.36m NOK. Calculated
-
↓
Equity eroded
Book equity 51.84m NOK → 28.81m NOK (equity ratio 10.3% → 5.1%). Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is 5.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Book investments changed
Investment / intangible book value 7.19m NOK → 203.4k NOK. Reported fact