NORDIC HEAT SYSTEMS AS

4400 FLEKKEFJORD

Finances

Share Ownership

Return on Equity

2,26 %

Current Ratio

3,91

Debt-to-Equity Ratio

Key figures (NOK)	2022	2021	2020	2019
Revenue	2 231 000	3 651 000	8 559 000	2 036 000
Net Income	38 000	150 000	848 000	227 000
Total Assets	2 198 000	2 320 000	4 700 000	1 144 000
Total Equity	1 679 000	1 641 000	1 490 000	392 000

Income (NOK)	2022	2021	2020	2019
Revenue	2 231 000	3 651 000	8 559 000	2 036 000
Expenditure	2 160 000	3 438 000	7 482 000	1 775 000
Operating Profit	71 000	213 000	1 077 000	260 000
Financial Income	1 000	0	0	0
Financial Costs	23 000	20 000	24 000	33 000
Financial Balance	−22 000	−20 000	−24 000	−33 000
Earnings Before Tax	49 000	193 000	1 053 000	227 000
Tax	11 000	42 000	206 000	0
Net Income	38 000	150 000	848 000	227 000

Balance (NOK)	2022	2021	2020	2019
Total Fixed Assets	168 000	455 000	769 000	609 000
Total Current Assets	2 031 000	1 865 000	3 931 000	535 000
Total Assets	2 198 000	2 320 000	4 700 000	1 144 000
Total Retained Equity	929 000	891 000	740 000	−108 000
Total Equity	1 679 000	1 641 000	1 490 000	392 000
Total Long-Term Debt	0	0	0	320 000
Total Current Debt	519 000	679 000	3 210 000	432 000
Total Equity and Debt	2 198 000	2 320 000	4 700 000	1 144 000

Cash flow (NOK)	2022	2021	2020	2019
Sales Income	2 298 000	3 082 000	9 172 000	1 924 000
Other Income	−67 000	569 000	−613 000	112 000
Revenue	2 231 000	3 651 000	8 559 000	2 036 000
Cost of Goods Sold	980 000	1 976 000	6 044 000	753 000
Salary Costs	700 000	1 006 000	820 000	861 000
Depreciation	335 000	325 000	325 000	39 000
Impairment	0	0	0	0
Expenditure	2 160 000	3 438 000	7 482 000	1 775 000
Operating Profit	71 000	213 000	1 077 000	260 000
Financial Income	1 000	0	0	0
Financial Costs	23 000	20 000	24 000	33 000
Financial Balance	−22 000	−20 000	−24 000	−33 000
Dividends	0	0	0	0
Net Income	38 000	150 000	848 000	227 000

Balance details (NOK)	2022	2021	2020	2019
Goodwill	0	0	0	0
Total Intangible Assets	58 000	322 000	591 000	385 000
Real Eastate	0	0	0	0
Machinery and Plant Facilities	87 000	133 000	178 000	224 000
Fixtures	22 000	0	0	0
Total Tangible Assets	109 000	133 000	178 000	224 000
Total Fiancial Fixed Assets	0	0	0	0
Total Fixed Assets	168 000	455 000	769 000	609 000
Stock	67 000	70 000	46 000	50 000
Total Investments	0	0	0	0
Cash, Bank	1 288 000	1 157 000	1 927 000	36 000
Total Current Assets	2 031 000	1 865 000	3 931 000	535 000
Total Assets	2 198 000	2 320 000	4 700 000	1 144 000
Total Equity	1 679 000	1 641 000	1 490 000	392 000
Short-Term Group Debt	0	0	0	0
Total Long-Term Debt	0	0	0	320 000
Creditors	13 000	45 000	2 148 000	94 000
Unpaid Taxes	230 000	102 000	77 000	117 000
Dividends	0	0	0	0
Other Current Debt	264 000	488 000	747 000	221 000
Total Current Debt	519 000	679 000	3 210 000	432 000
Total Equity and Debt	2 198 000	2 320 000	4 700 000	1 144 000

Financial indicators	2022	2021	2020	2019
Return on Equity	2,26 %	9,14 %	56,91 %	57,91 %
Debt-to-Equity Ratio	0	0	0	0,82
Operating Profit Margin	3,18 %	5,83 %	12,58 %	12,77 %
Current Ratio	3,91	2,75	1,22	1,24
Quick Ratio	4,49	3,06	1,24	1,4
Equity Ratio	0,76	0,71	0,32	0,34
Gross Profit Margin	56,07 %	45,88 %	29,38 %	63,02 %