VOIM ASA: årsregnskap 2019 vs 2018
Shrank 100% on revenue, stronger earnings
approved 2020-06-19; registry 2020-09-19; journal 2020 832992
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for VOIM ASA. Revenue 261.29m NOK → 604.1k NOK (-99.8%). Net result -449.75m NOK → -196.25m NOK. Equity 209.31m NOK → 13.01m NOK.
On the constructive side: net result improved. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer; paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for VOIM ASA.
At a glance
Scorecard
What improved
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↑
Net result improved
Net result -449.75m NOK → -196.25m NOK (net margin -172.1% → -32485.9%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 261.29m NOK to 604.1k NOK (-99.8% YoY). Calculated
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↓
Equity eroded
Book equity 209.31m NOK → 13.01m NOK (equity ratio 25.5% → 2.4%). Calculated
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↓
Cash fell
Bank deposits 74.80m NOK → 46.46m NOK (-37.9% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 6.13m NOK → 19.66m NOK (2% → 3255% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 2.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Paid-in equity reduced
Paid-in equity fell 544.39m NOK → 14 NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 4.15bn NOK → 14.60m NOK (-99.6% YoY). Calculated
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Book investments changed
Investment / intangible book value 955.0k NOK → 91.0k NOK. Reported fact