SOLSTAD OFFSHORE ASA: årsregnskap 2019 vs 2018
Shrank 33% on revenue, stronger earnings
approved 2020-02-28; registry 2020-07-25; journal 2020 609193
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for SOLSTAD OFFSHORE ASA. Revenue 20.89m NOK → 13.96m NOK (-33.2%). Net result -5.86bn NOK → -3.13bn NOK. Equity 0 NOK → -744.09m NOK.
On the constructive side: net result improved. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for SOLSTAD OFFSHORE ASA.
At a glance
Scorecard
What improved
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↑
Net result improved
Net result -5.86bn NOK → -3.13bn NOK (net margin -28049.8% → -22421.2%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 20.89m NOK to 13.96m NOK (-33.2% YoY). Calculated
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↓
Equity eroded
Book equity 0 NOK → -744.09m NOK (equity ratio 0.0% → -105.4%). Calculated
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↓
Cash fell
Bank deposits 7.29m NOK → 7.26m NOK (-0.4% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 7.55m NOK → 7.91m NOK (36% → 57% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -105.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 1.31bn NOK → 648.52m NOK. Reported fact