MIRA INFORM REPORT

 

 

 

Report Date :

26.07.2008

 

IDENTIFICATION DETAILS

 

Name :

EUROPRIS AS

 

 

Registered Office :

PB 1421 1602 Fredrikstad 

 

 

Country :

Norway

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

2004

 

 

Com. Reg. No.:

986762469

 

 

Legal Form :

Private/Public Limited Company

 

 

Line of Business :

Wholesale Distribution of Miscellaneous Food including Fish, Crustaceans and Mollusca

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

NOK 5000000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

name & address

 

EUROPRIS AS

PB 1421

 1602 FREDRIKSTAD NO

Tel. Number +47--69396600

Fax number +47--69319900

 

 

Business founded    

 

00 2004

 

 

Business registered

 

05 April 2004 - Private/Public Limited company

 

 

Registration number

 

986762469,

 

 

Legal form

 

Private/Public Limited company

 

 

Activities  

 

Wholesale distribution of miscellaneous food including fish, crustaceans and mollusca

                                          

 

Payment experience

 

Payment incident

 

 

Credit opinion

 

Normal creditworthiness

Maximum credit limit 5000000 NOK is advised

 

 

Employees (Business)   

 

 237

 

 

Debt collection .01 June 2007      

 

473

 

 

L4:D   

 

NB NOR BANK ASA

 

 

Total share capital

NOK 110325510

 

 

Bank 

 

DNB NOR BANK ASA   

 

 

Board members   

 

PETERSON JANERIC   Chairman of the board

MYKING GRO   Board member

H!OILI TERJE TOM   Board member

LINDB!EK GINA CHARLOTTE   Board member

PETTERSEN EIVIND   Board member

GOLDEN JAN MARTIN   Board member

GRINDHEIM TRYGVE   Board member

!OHMAN ERIK GUSTAV   Board member

 

 

Management   

 

BROVOLD PETTER   Managing director

 

 

(Part-) Owner 

 

987125209   EUROPRIS HOLDING ASA   100 %   Shareholder

 

 

Parent company

 

987125209   EUROPRIS HOLDING ASA   100 %   

 

 

Subsidiary company

 

987553014   EUROPRIS BUTIKKDRIFT AS   100 %   

985772754   OTRA LAVPRIS AS   100 %   

880184342   !ALESUND LAVPRIS AS   100 %   

979676948   BERGEN LAVPRIS HOLDING AS   100 %   

979681550   !ASANE LAVPRIS AS   100 %   

987800291   LIAMYRANE LAVPRIS AS   100 %   

985916004   SLEPENDEN LAVPRIS AS   100 %   

987282541   H!OILI TERJE AS   100 %   

EUROPRIS SVERIGE AB   100 %   

982155274   MAX NORGE AS   90 %   

987282606   EKSTREM LAVPRIS NORGE ANS   50 %   

887282552   EKSTREM LAVPRIS ANS   50 %   

 

 

Associate company 

 

982169844   EIKER LAVPRIS AS   46 %   

980339769   TROMSDALEN LAVPRIS AS   40 %   

Authorized signature.               

The Chairman and a member jointly

 

 

 

Corporate balance sheet for the year: 01 January 2006 - 31 December 2006  in  NOK 

 

Concessions and industrial rights, goodwill

1.783.205.000,-

Total intangible fixed assets

1.783.205.000,-

Land and buildings

0,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

35.787.000,-

Subordinate loan capital

0,-

Total financial fixed assets

311.031.000,-

Total fixed assets

2.130.023.000,-

Inventories and work in progress (incl. prepayments)

249.292.000,-

Accounts receivable (trade)

433.041.000,-

Outstanding deposit on the subscribed capital, from which amount called

0,-

Receivables from affiliates and companies in which participations are held

0,-

Investments (short-term)

0,-

Cash in hand and at bank

56.168.000,-

Total Current assets

758.435.000,-

Total assets incl. prepaid expenses and accrued income

2.888.458.000,-

Issued (subscribed) capital

110.326.000,-

Share premium account (capital reserve)

992.930.000,-

Profit reserves

47.064.000,-

Total equity (Shareholders' funds)

1.150.320.000,-

Minority interests

0,-

Total provisions

21.544.000,-

Long-term liabilities to credit institutions

1.406.900.000,-

Long-term payables to affiliated companies and to companies in which participations are held

0,-

Long-term Loans, Mortgage debts

0,-

Total long-term liabilities

1.406.900.000,-

Current liabilities to credit institutions

0,-

Current accounts payable (trade)

165.218.000,-

Income and social tax liabilities

0,-

Current payables to affiliated companies and to companies in which participations are held

0,-

Total current liabilities

309.694.000,-

Total liabilities

1.716.594.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

2.888.458.000,-

Operating margin

4,-

Current ratio

2,-

Equity ratio

40,-

Debt-equity ratio

2,-

Interest Cover

1,-

Cash flow

10,-

Stock financing

180,-

Return on equity

0,-

Total return

3,-

 

 

Corporate balance sheet for the year: 01 January 2005 - 31 December 2005  in  NOK 

 

Concessions and industrial rights, goodwill

1.964.085.000,-

Total intangible fixed assets

1.964.085.000,-

Land and buildings

0,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

38.084.000,-

Subordinate loan capital

0,-

Total financial fixed assets

199.510.000,-

Total fixed assets

2.201.679.000,-

Inventories and work in progress (incl. prepayments)

266.529.000,-

Accounts receivable (trade)

347.880.000,-

Outstanding deposit on the subscribed capital, from which amount called

0,-

Receivables from affiliates and companies in which participations are held

0,-

Investments (short-term)

0,-

Cash in hand and at bank

117.923.000,-

Total Current assets

783.404.000,-

Total assets incl. prepaid expenses and accrued income

2.985.083.000,-

Issued (subscribed) capital

110.326.000,-

Share premium account (capital reserve)

992.930.000,-

Profit reserves

44.825.000,-

Total equity (Shareholders' funds)

1.148.081.000,-

Minority interests

0,-

Total provisions

20.053.000,-

Long-term liabilities to credit institutions

1.560.000.000,-

Long-term payables to affiliated companies and to companies in which participations are held

0,-

Long-term Loans, Mortgage debts

8.000,-

Total long-term liabilities

1.560.008.000,-

Current liabilities to credit institutions

0,-

Current accounts payable (trade)

158.134.000,-

Income and social tax liabilities

0,-

Current payables to affiliated companies and to companies in which participations are held

0,-

Total current liabilities

256.941.000,-

Total liabilities

1.816.949.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

2.985.083.000,-

Operating margin

7,-

Current ratio

3,-

Equity ratio

38,-

Debt-equity ratio

2,-

Interest Cover

1,-

Cash flow

13,-

Stock financing

198,-

Return on equity

2,-

Total return

4,-

 

 

 

Corporate balance sheet for the year: 01 January 2004 - 31 December 2004  in  NOK 

 

Concessions and industrial rights, goodwill

2.121.200.000,-

Total intangible fixed assets

2.121.200.000,-

Land and buildings

0,-

Plant, machinery and equipment

4.910.000,-

Total tangible fixed assets

39.419.000,-

Subordinate loan capital

0,-

Total financial fixed assets

21.709.000,-

Total fixed assets

2.182.328.000,-

Inventories and work in progress (incl. prepayments)

190.937.000,-

Accounts receivable (trade)

324.217.000,-

Outstanding deposit on the subscribed capital, from which amount called

0,-

Receivables from affiliates and companies in which participations are held

0,-

Investments (short-term)

0,-

Cash in hand and at bank

232.293.000,-

Total Current assets

800.480.000,-

Total assets incl. prepaid expenses and accrued income

2.982.808.000,-

Issued (subscribed) capital

107.500.000,-

Share premium account (capital reserve)

967.500.000,-

Profit reserves

21.364.000,-

Total equity (Shareholders' funds)

1.096.364.000,-

Minority interests

0,-

Total provisions

10.494.000,-

Long-term liabilities to credit institutions

1.500.000.000,-

Long-term payables to affiliated companies and to companies in which participations are held

0,-

Long-term Loans, Mortgage debts

4.777.000,-

Total long-term liabilities

1.504.777.000,-

Current liabilities to credit institutions

41.000,-

Current accounts payable (trade)

113.473.000,-

Income and social tax liabilities

0,-

Current payables to affiliated companies and to companies in which participations are held

0,-

Total current liabilities

371.172.000,-

Total liabilities

1.875.949.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

2.982.807.000,-

Operating margin

11,-

Current ratio

2,-

Equity ratio

37,-

Debt-equity ratio

2,-

Interest Cover

3,-

Cash flow

15,-

Stock financing

225,-

Return on equity

2,-

Total return

2,-

 

 

 

Corporate profit and loss account for the year: 01 January 2006 - 31 December 2006  in  NOK 

Main revenue (sales/turnover)

1.542.019.000,-

Total operating income/revenue

1.704.418.000,-

Cost of materials (type of expenditure format)

-1.103.540.000,-

Personnel costs

-124.994.000,-

Depreciation

-3.246.000,-

Total operating expenses

-1.635.241.000,-

Gross profit or loss after cost of materials or after cost of goods sold

69.177.000,-

Financial income

23.317.000,-

Financial expenses

-89.135.000,-

Result of ordinary operations

3.359.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-1.119.000,-

Net profit or loss

2.240.000,-

Appropriations

-2.240.000,-

 

 

Corporate profit and loss account for the year: 01 January 2005 - 31 December 2005  in  NOK 

 

Main revenue (sales/turnover)

1.321.132.000,-

Total operating income/revenue

1.472.392.000,-

Cost of materials (type of expenditure format)

-897.891.000,-

Personnel costs

-96.702.000,-

Depreciation

0,-

Total operating expenses

-1.364.334.000,-

Gross profit or loss after cost of materials or after cost of goods sold

108.058.000,-

Financial income

12.886.000,-

Financial expenses

-88.261.000,-

Result of ordinary operations

32.683.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-9.222.000,-

Net profit or loss

23.461.000,-

Appropriations

-23.461.000,-

 

 

Corporate profit and loss account for the year: 01 January 2004 - 31 December 2004  in  NOK 

 

Main revenue (sales/turnover)

388.108.000,-

Total operating income/revenue

427.699.000,-

Cost of materials (type of expenditure format)

-259.357.000,-

Personnel costs

-22.485.000,-

Depreciation

0,-

Total operating expenses

-382.544.000,-

Gross profit or loss after cost of materials or after cost of goods sold

45.156.000,-

Financial income

947.000,-

Financial expenses

-16.434.000,-

Result of ordinary operations

29.669.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-8.306.000,-

Net profit or loss

21.364.000,-

Appropriations

-21.364.000,-

 

Turnover for the period: 25 July 2008 - 25 July 2008  in  NOK 110.325.510,00

 Fully paid in share capital: 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.23

UK Pound

1

Rs.83.88

Euro

1

Rs.66.41

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions