WORKHORSE NORWAY AS

4550 FARSUND

Finances

Share Ownership

Return on Equity

6,15 %

Current Ratio

4,61

Debt-to-Equity Ratio

Key figures (NOK)	2022	2021	2020	2019
Revenue	2 908 000	2 544 000	1 898 000	1 906 000
Net Income	203 000	210 000	158 000	181 000
Total Assets	4 194 000	3 853 000	3 479 000	3 319 000
Total Equity	3 303 000	3 099 000	2 889 000	2 731 000

Income (NOK)	2022	2021	2020	2019
Revenue	2 908 000	2 544 000	1 898 000	1 906 000
Expenditure	2 635 000	2 286 000	1 674 000	1 675 000
Operating Profit	273 000	257 000	224 000	231 000
Financial Income	8 000	16 000	0	0
Financial Costs	16 000	4 000	21 000	0
Financial Balance	−8 000	12 000	−21 000	0
Earnings Before Tax	266 000	269 000	203 000	232 000
Tax	62 000	59 000	45 000	51 000
Net Income	203 000	210 000	158 000	181 000

Balance (NOK)	2022	2021	2020	2019
Total Fixed Assets	80 000	140 000	200 000	260 000
Total Current Assets	4 114 000	3 713 000	3 280 000	3 059 000
Total Assets	4 194 000	3 853 000	3 479 000	3 319 000
Total Retained Equity	3 273 000	3 069 000	2 859 000	2 701 000
Total Equity	3 303 000	3 099 000	2 889 000	2 731 000
Total Long-Term Debt	0	3 000	5 000	5 000
Total Current Debt	892 000	751 000	585 000	583 000
Total Equity and Debt	4 194 000	3 853 000	3 479 000	3 319 000

Cash flow (NOK)	2022	2021	2020	2019
Sales Income	2 908 000	2 544 000	1 898 000	1 906 000
Other Income	0	0	0	0
Revenue	2 908 000	2 544 000	1 898 000	1 906 000
Cost of Goods Sold	70 000	42 000	35 000	23 000
Salary Costs	2 419 000	2 103 000	1 504 000	1 535 000
Depreciation	60 000	60 000	60 000	60 000
Impairment	0	0	0	0
Expenditure	2 635 000	2 286 000	1 674 000	1 675 000
Operating Profit	273 000	257 000	224 000	231 000
Financial Income	8 000	16 000	0	0
Financial Costs	16 000	4 000	21 000	0
Financial Balance	−8 000	12 000	−21 000	0
Dividends	0	0	0	0
Net Income	203 000	210 000	158 000	181 000

Balance details (NOK)	2022	2021	2020	2019
Goodwill	0	0	0	0
Total Intangible Assets	0	0	0	0
Real Eastate	0	0	0	0
Machinery and Plant Facilities	80 000	140 000	200 000	260 000
Fixtures	0	0	0	0
Total Tangible Assets	80 000	140 000	200 000	260 000
Total Fiancial Fixed Assets	0	0	0	0
Total Fixed Assets	80 000	140 000	200 000	260 000
Stock	0	0	0	0
Total Investments	0	0	0	0
Cash, Bank	2 448 000	3 017 000	2 858 000	1 994 000
Total Current Assets	4 114 000	3 713 000	3 280 000	3 059 000
Total Assets	4 194 000	3 853 000	3 479 000	3 319 000
Total Equity	3 303 000	3 099 000	2 889 000	2 731 000
Short-Term Group Debt	0	0	0	0
Total Long-Term Debt	0	3 000	5 000	5 000
Creditors	137 000	277 000	179 000	273 000
Unpaid Taxes	152 000	5 000	5 000	5 000
Dividends	0	0	0	0
Other Current Debt	537 000	407 000	355 000	257 000
Total Current Debt	892 000	751 000	585 000	583 000
Total Equity and Debt	4 194 000	3 853 000	3 479 000	3 319 000

Financial indicators	2022	2021	2020	2019
Return on Equity	6,15 %	6,78 %	5,47 %	6,63 %
Debt-to-Equity Ratio	0	0	0	0
Operating Profit Margin	9,39 %	10,1 %	11,8 %	12,12 %
Current Ratio	4,61	4,94	5,61	5,25
Quick Ratio	4,61	4,94	5,61	5,25
Equity Ratio	0,79	0,8	0,83	0,82
Gross Profit Margin	97,59 %	98,35 %	98,16 %	98,79 %