TGS ASA: årsregnskap 2020 vs 2019
Shrank 48% on revenue, slipped into loss, cash halved-plus
approved 2021-03-23; registry 2021-08-05; journal 2021 573354
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for TGS ASA. Revenue 327.24m NOK → 170.54m NOK (-47.9%). Net result +73.67m NOK → -61.46m NOK. Equity 380.39m NOK → 252.83m NOK.
On the constructive side: current ratio back above 1×; payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: sharp cash drawdown; paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for TGS ASA.
At a glance
Scorecard
What improved
-
↑
Current ratio back above 1×
Current ratio 0.91× → 837.24×. Calculated
-
↑
Payroll decreased
Salary cost 13.70m NOK → 8.75m NOK (4% → 5% of revenue). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 327.24m NOK to 170.54m NOK (-47.9% YoY). Calculated
-
↓
Operating result weakened
Operating result +90.12m NOK → -104.33m NOK (op. margin 27.5% → -61.2%). Calculated
-
↓
Fell into a net loss
Net result flipped from 73.67m NOK profit to a loss of 61.46m NOK. Calculated
-
↓
Equity eroded
Book equity 380.39m NOK → 252.83m NOK (equity ratio 28.4% → 21.2%). Calculated
-
↓
Cash fell
Bank deposits 45.63m NOK → 13.75m NOK (-69.9% YoY). Calculated
Things to notice
-
·
Sharp cash drawdown
Cash fell by more than 60% YoY (45.63m NOK → 13.75m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
-
·
Paid-in equity reduced
Paid-in equity fell 375.04m NOK → 252.83m NOK — check capital reduction, conversion, or reclassification. Interpretation
-
·
COGS fell
COGS / varekostnad 437.0k NOK → 134.0k NOK (-69.3% YoY). Calculated
-
·
Book investments changed
Investment / intangible book value 150.68m NOK → 153.9k NOK. Reported fact