VÅR ENERGI ASA: årsregnskap 2018 vs 2017
Grew 40% on revenue, stronger earnings, cash halved-plus
approved 2019-03-01; registry 2019-06-20; journal 2019 480715
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for VÅR ENERGI ASA. Revenue 15.79bn NOK → 22.11bn NOK (+40.0%). Net result +1.34bn NOK → +2.38bn NOK. Equity 5.65bn NOK → 21.55bn NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: cash fell.
Also worth watching: sharp cash drawdown; paid-in equity reduced; payroll increased. All figures are taken from the published annual accounts for VÅR ENERGI ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 15.79bn NOK to 22.11bn NOK (+40.0% YoY). Calculated
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Operating result improved
Operating result +5.52bn NOK → +8.54bn NOK (op. margin 34.9% → 38.6%). Calculated
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Net result improved
Net result +1.34bn NOK → +2.38bn NOK (net margin 8.5% → 10.8%). Calculated
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Equity strengthened
Book equity 5.65bn NOK → 21.55bn NOK (equity ratio 11.5% → 26.5%). Calculated
What deteriorated
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Cash fell
Bank deposits 182.11m NOK → 8.38m NOK (-95.4% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (182.11m NOK → 8.38m 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 278.00m NOK → 21.55m NOK — check capital reduction, conversion, or reclassification. Interpretation
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Payroll increased
Salary cost 780.24m NOK → 864.80m NOK (5% → 4% of revenue). Calculated
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Book investments changed
Investment / intangible book value 2.13m NOK → 3.15bn NOK. Reported fact