SATS ASA: årsregnskap 2019 vs 2018
Grew 22% on revenue, returned to profit, cash halved-plus
approved 2020-04-03; registry 2020-09-15; journal 2020 810904
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for SATS ASA. Revenue 3.26bn NOK → 3.99bn NOK (+22.3%). Net result -5.00m NOK → +187.00m NOK. Equity 1.76bn NOK → 2.12bn 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; payroll increased. All figures are taken from the published annual accounts for SATS ASA.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 3.26bn NOK to 3.99bn NOK (+22.3% YoY). Calculated
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↑
Turned profitable
Net result flipped from a loss of 5.00m NOK to a profit of 187.00m NOK. Calculated
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↑
Equity strengthened
Book equity 1.76bn NOK → 2.12bn NOK (equity ratio 43.6% → 52.9%). Calculated
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↑
Current ratio back above 1×
Current ratio 0.00× → 416.80×. Calculated
What deteriorated
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↓
Operating result weakened
Operating result +103.40m NOK → +512.0k NOK (op. margin 3.2% → 0.0%). Calculated
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↓
Cash fell
Bank deposits 126.04m NOK → 178.0k NOK (-99.9% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (126.04m NOK → 178.0k 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 2.49bn NOK → 2.12bn NOK — check capital reduction, conversion, or reclassification. Interpretation
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Payroll increased
Salary cost 6.22m NOK → 6.46m NOK (0% → 0% of revenue). Calculated
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COGS moved
COGS / varekostnad 80.39m NOK → 115.00m NOK (+43.1% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 3.73bn NOK → 3.77bn NOK. Reported fact