SCANA ASA: årsregnskap 2012 vs 2011
Shrank 23% on revenue, weaker earnings, cash halved-plus
approved 2013-04-11; registry 2013-04-29; journal 2013 362283
Summary
What changed
Comparing Årsregnskap 2012 with 2011 for SCANA ASA. Revenue 51.98m NOK → 40.23m NOK (-22.6%). Net result -83.75m NOK → -186.74m NOK. Equity 395.70m NOK → 5.42m NOK.
On the constructive side: owners injected capital; payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; sharp cash drawdown; cogs fell. All figures are taken from the published annual accounts for SCANA ASA.
At a glance
Scorecard
What improved
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Owners injected capital
Paid-in equity rose 326.6k NOK → 420.2k NOK (+93.6k NOK). Reported fact
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Payroll decreased
Salary cost 14.27m NOK → 13.47m NOK (27% → 33% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 51.98m NOK to 40.23m NOK (-22.6% YoY). Calculated
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Operating result weakened
Operating result -1.51m NOK → -4.30m NOK (op. margin -2.9% → -10.7%). Calculated
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Net result weakened
Net result -83.75m NOK → -186.74m NOK (net margin -161.1% → -464.2%). Calculated
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↓
Equity eroded
Book equity 395.70m NOK → 5.42m NOK (equity ratio 40.9% → 0.6%). Calculated
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Cash fell
Bank deposits 3.04m NOK → 223.0k NOK (-92.7% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.6% 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 (3.04m NOK → 223.0k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS fell
COGS / varekostnad 12.87m NOK → 12.73m NOK (-1.1% YoY). Calculated