SALMAR ASA: årsregnskap 2008 vs 2007
Grew 90812% on revenue, stronger earnings, cash halved-plus
approved 2008-05-28; registry 2009-09-03
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for SALMAR ASA. Revenue 32.6k NOK → 29.61m NOK (+90812.4%). Net result +57.6k NOK → +168.58m NOK. Equity 167.6k NOK → 214.2k NOK.
On the constructive side: revenue rose; net result improved; equity strengthened. Pressures included: operating result weakened; cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; paid-in equity reduced. All figures are taken from the published annual accounts for SALMAR ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 32.6k NOK to 29.61m NOK (+90812.4% YoY). Calculated
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Net result improved
Net result +57.6k NOK → +168.58m NOK (net margin 176.9% → 569.3%). Calculated
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Equity strengthened
Book equity 167.6k NOK → 214.2k NOK (equity ratio 5.8% → 0.2%). Calculated
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Payroll decreased
Salary cost 217.81m NOK → 12.24m NOK (668697% → 41% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result -4 425 NOK → -3.39m NOK (op. margin -13.6% → -11.4%). Calculated
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Cash fell
Bank deposits 175.16m NOK → 572.0k NOK (-99.7% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (175.16m NOK → 572.0k 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 147.24m NOK → 156.1k NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS moved
COGS / varekostnad 0 NOK → 922.0k NOK (None YoY). Calculated
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Book investments changed
Investment / intangible book value 6 193 NOK → 193.0k NOK. Reported fact