VÅR ENERGI ASA: årsregnskap 2021 vs 2020
Shrank 78% on revenue, returned to profit, cash halved-plus
approved 2022-03-29; registry 2022-06-11; journal 2022 328759
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for VÅR ENERGI ASA. Revenue 27.03bn NOK → 6.06bn NOK (-77.6%). Net result -6.53bn NOK → +693.70m NOK. Equity 11.04bn NOK → 1.47bn NOK.
On the constructive side: operating result improved; turned profitable. Pressures included: revenue fell; equity eroded; 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 VÅR ENERGI ASA.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -9.48bn NOK → +2.98bn NOK (op. margin -35.1% → 49.2%). Calculated
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Turned profitable
Net result flipped from a loss of 6.53bn NOK to a profit of 693.70m NOK. Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 27.03bn NOK to 6.06bn NOK (-77.6% YoY). Calculated
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Equity eroded
Book equity 11.04bn NOK → 1.47bn NOK (equity ratio 8165.9% → 7.3%). Calculated
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Cash fell
Bank deposits 2.09bn NOK → 190.23m NOK (-90.9% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.05× → 0.56× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is 7.3% 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 (2.09bn NOK → 190.23m 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 17.13bn NOK → 2.69bn NOK — check capital reduction, conversion, or reclassification. Interpretation
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Book investments changed
Investment / intangible book value 2.22bn NOK → 226.09m NOK. Reported fact