SOLVANG ASA: årsregnskap 2020 vs 2019
Grew 6% on revenue, weaker earnings
approved 2021-05-12; registry 2021-07-19; journal 2021 501408
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for SOLVANG ASA. Revenue 89.00m NOK → 94.28m NOK (+5.9%). Net result +18.73m NOK → +3.69m NOK. Equity 2.97bn NOK → 2.79bn NOK.
On the constructive side: revenue rose; cash rose. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: payroll increased; book investments changed. All figures are taken from the published annual accounts for SOLVANG ASA.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 89.00m NOK to 94.28m NOK (+5.9% YoY). Calculated
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↑
Cash rose
Bank deposits 96.65m NOK → 108.39m NOK (+12.1% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +8.07m NOK → +6.97m NOK (op. margin 9.1% → 7.4%). Calculated
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↓
Net result weakened
Net result +18.73m NOK → +3.69m NOK (net margin 21.1% → 3.9%). Calculated
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↓
Equity eroded
Book equity 2.97bn NOK → 2.79bn NOK (equity ratio 41.2% → 42.3%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 4.09× → 0.66× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Payroll increased
Salary cost 63.23m NOK → 71.75m NOK (71% → 76% of revenue). Calculated
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·
Book investments changed
Investment / intangible book value 7.06bn NOK → 6.44bn NOK. Reported fact