SCANA ASA: årsregnskap 2009 vs 2008
Grew 18% on revenue
approved 2010-03-24; registry 2010-07-21; journal 2010 535541
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for SCANA ASA. Revenue 38.65m NOK → 45.55m NOK (+17.8%). Equity 435.65m NOK → 456.5k NOK.
On the constructive side: revenue rose; operating result improved. Pressures included: equity eroded; cash fell; current ratio dropped below 1×.
Also worth watching: thin equity buffer; paid-in equity reduced; payroll increased. All figures are taken from the published annual accounts for SCANA ASA.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 38.65m NOK to 45.55m NOK (+17.8% YoY). Calculated
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↑
Operating result improved
Operating result -7.47m NOK → +96.0k NOK (op. margin -19.3% → 0.2%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 435.65m NOK → 456.5k NOK (equity ratio 35.5% → 0.0%). Calculated
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↓
Cash fell
Bank deposits 50.57m NOK → 48.65m NOK (-3.8% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.26× → 0.81× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Paid-in equity reduced
Paid-in equity fell 324.05m NOK → 321.58m NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
Payroll increased
Salary cost 11.59m NOK → 13.87m NOK (30% → 30% of revenue). Calculated
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·
COGS fell
COGS / varekostnad 323.59m NOK → 12.84m NOK (-96.0% YoY). Calculated