SCATEC ASA: årsregnskap 2014 vs 2013
Shrank 85% on revenue, weaker earnings, cash halved-plus
approved 2015-05-07; registry 2015-07-08; journal 2015 565165
Summary
What changed
Comparing Årsregnskap 2014 with 2013 for SCATEC ASA. Revenue 249.28m NOK → 36.45m NOK (-85.4%). Net result -7.55m NOK → -17.92m NOK. Equity 426.7k NOK → 827.8k NOK.
On the constructive side: operating result improved; equity strengthened. Pressures included: revenue fell; net 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 SCATEC ASA.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -74.69m NOK → +191.03m NOK (op. margin -30.0% → 524.1%). Calculated
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↑
Equity strengthened
Book equity 426.7k NOK → 827.8k NOK (equity ratio 41.5% → 0.1%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 249.28m NOK to 36.45m NOK (-85.4% YoY). Calculated
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↓
Net result weakened
Net result -7.55m NOK → -17.92m NOK (net margin -3.0% → -49.2%). Calculated
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↓
Cash fell
Bank deposits 119.23m NOK → 349.9k NOK (-99.7% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 20.86m NOK → 30.06m NOK (8% → 82% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.1% 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 (119.23m NOK → 349.9k 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 302.91m NOK → 796.5k NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 12.33m NOK → 5.12m NOK (-58.5% YoY). Calculated
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Book investments changed
Investment / intangible book value 723.6k NOK → 1.06m NOK. Reported fact