MIRA INFORM REPORT

 

 

Report Date :

13.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

CHRISTOPHERSEN E AS

 

 

Registered Office :

PB 44 4301 Sandnes 

 

 

Country :

Norway

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

27.08.1989

 

 

Com. Reg. No.:

911059134

 

 

Legal Form :

Private/Public Limited Company

 

 

Line of Business :

Manufacture of Jewellery and Related Articles

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

name & address

 

CHRISTOPHERSEN E AS

 PB 44

 4301 SANDNES NO

Tel. Number +47--51706000

Fax number +47—51706001

 

 

 

Business founded

00 1966

Business registered

27 August 1989 - Private/Public Limited company

Registration number,

911059134,

Legal form

Private/Public Limited company

Activities

Manufacture of jewellery and related articles

Payment experience

Payment regular

Credit opinion

Normal creditworthiness

Employees (Business)

 42

Total share capital

NOK 2098000

Bank

SANDNES SPAREBANK   

Board members

BJ!ORNSEN KARI HELENE   Chairman of the board

 

BJ!ORNSEN BENGT   Board member

 

ORSTAD HELGE   Board member

 

BJ!ORNSEN KARSTEN   Board member

Management

BJ!ORNSEN BENGT   Managing director

(Part-) Owner

BJ!ORNSEN KARI HELENE   95 %   Shareholder

Parent company :

BJ!ORNSEN KARI HELENE   95 %   

Subsidiary company.

932810069   CHRISTOPHERSEN DETALJ AS   100 %   

 

975354237   KRISTIANSEN GULLSMED AS   100 %   

 

980063429   NORGULL AS   100 %   

Authorized signature.

The Chairman and the managing director jointly

 

 

 

 

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

Concessions and industrial rights, goodwill

0,-

Total intangible fixed assets

135.000,-

Land and buildings

277.000,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

2.601.000,-

Subordinate loan capital

9.880.000,-

Total financial fixed assets

7.282.000,-

Total fixed assets

10.019.000,-

Inventories and work in progress (incl. prepayments)

29.333.000,-

Accounts receivable (trade)

8.226.000,-

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

629.000,-

Total Current assets

43.906.000,-

Total assets incl. prepaid expenses and accrued income

53.925.000,-

Issued (subscribed) capital

2.098.000,-

Share premium account (capital reserve)

100.000,-

Profit reserves

10.184.000,-

Total equity (Shareholders' funds)

12.382.000,-

Minority interests

0,-

Total provisions

592.000,-

Long-term liabilities to credit institutions

12.115.000,-

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

0,-

Long-term Loans, Mortgage debts

891.000,-

Total long-term liabilities

22.886.000,-

Current liabilities to credit institutions

7.356.000,-

Current accounts payable (trade)

5.419.000,-

Income and social tax liabilities

0,-

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

112.000,-

Total current liabilities

18.065.000,-

Total liabilities

40.951.000,-

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

53.925.000,-

Operating margin

2,-

Current ratio

2,-

Equity ratio

23,-

Debt-equity ratio

3,-

Interest Cover

1,-

Cash flow

2,-

Stock financing

88,-

Return on equity

2,-

Total return

3,-

 

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

Concessions and industrial rights, goodwill

180.000,-

Total intangible fixed assets

346.000,-

Land and buildings

277.000,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

2.995.000,-

Subordinate loan capital

10.400.000,-

Total financial fixed assets

7.084.000,-

Total fixed assets

10.425.000,-

Inventories and work in progress (incl. prepayments)

28.543.000,-

Accounts receivable (trade)

15.402.000,-

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

636.000,-

Total Current assets

49.123.000,-

Total assets incl. prepaid expenses and accrued income

59.548.000,-

Issued (subscribed) capital

2.098.000,-

Share premium account (capital reserve)

100.000,-

Profit reserves

10.306.000,-

Total equity (Shareholders' funds)

12.504.000,-

Minority interests

0,-

Total provisions

517.000,-

Long-term liabilities to credit institutions

13.269.000,-

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

0,-

Long-term Loans, Mortgage debts

1.165.000,-

Total long-term liabilities

24.834.000,-

Current liabilities to credit institutions

10.052.000,-

Current accounts payable (trade)

7.087.000,-

Income and social tax liabilities

0,-

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

0,-

Total current liabilities

21.692.000,-

Total liabilities

46.526.000,-

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

59.547.000,-

Operating margin

15,-

Current ratio

2,-

Equity ratio

21,-

Debt-equity ratio

4,-

Interest Cover

5,-

Cash flow

10,-

Stock financing

96,-

Return on equity

37,-

Total return

13,-

 

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

Concessions and industrial rights, goodwill

420.000,-

Total intangible fixed assets

2.518.000,-

Land and buildings

727.000,-

Plant, machinery and equipment

0,-

Total tangible fixed assets

3.859.000,-

Subordinate loan capital

10.400.000,-

Total financial fixed assets

7.551.000,-

Total fixed assets

13.928.000,-

Inventories and work in progress (incl. prepayments)

29.663.000,-

Accounts receivable (trade)

4.573.000,-

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

693.000,-

Total Current assets

40.398.000,-

Total assets incl. prepaid expenses and accrued income

54.326.000,-

Issued (subscribed) capital

2.098.000,-

Share premium account (capital reserve)

100.000,-

Profit reserves

5.820.000,-

Total equity (Shareholders' funds)

7.918.000,-

Minority interests

0,-

Total provisions

456.000,-

Long-term liabilities to credit institutions

14.423.000,-

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

0,-

Long-term Loans, Mortgage debts

1.431.000,-

Total long-term liabilities

26.254.000,-

Current liabilities to credit institutions

10.735.000,-

Current accounts payable (trade)

3.215.000,-

Income and social tax liabilities

0,-

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

0,-

Total current liabilities

19.698.000,-

Total liabilities

45.952.000,-

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

54.326.000,-

Operating margin

5,-

Current ratio

2,-

Equity ratio

15,-

Debt-equity ratio

6,-

Interest Cover

2,-

Cash flow

4,-

Stock financing

70,-

Return on equity

11,-

Total return

6,-

 

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

Main revenue (sales/turnover)

47.614.000,-

Total operating income/revenue

47.702.000,-

Cost of materials (type of expenditure format)

-21.294.000,-

Personnel costs

-15.357.000,-

Depreciation

0,-

Total operating expenses

-46.559.000,-

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

1.142.000,-

Financial income

535.000,-

Financial expenses

-1.339.000,-

Result of ordinary operations

339.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-31.000,-

Net profit or loss

308.000,-

Appropriations

-308.000,-

 

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

Main revenue (sales/turnover)

44.654.000,-

Total operating income/revenue

52.616.000,-

Cost of materials (type of expenditure format)

-19.423.000,-

Personnel costs

-14.608.000,-

Depreciation

0,-

Total operating expenses

-44.977.000,-

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

7.639.000,-

Financial income

323.000,-

Financial expenses

-1.522.000,-

Result of ordinary operations

6.439.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-1.854.000,-

Net profit or loss

4.586.000,-

Appropriations

-4.586.000,-

 

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

Main revenue (sales/turnover)

49.139.000,-

Total operating income/revenue

49.456.000,-

Cost of materials (type of expenditure format)

-19.530.000,-

Personnel costs

-14.968.000,-

Depreciation

0,-

Total operating expenses

-46.931.000,-

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

2.524.000,-

Financial income

585.000,-

Financial expenses

-1.512.000,-

Result of ordinary operations

1.597.000,-

Extraordinary income

0,-

Extraordinary expenses

0,-

Extraordinary result

0,-

Taxes

-762.000,-

Net profit or loss

835.000,-

Appropriations

-835.000,-

 

Turnover for the period: 11 March 2008 - 11 March 2008  in  NOK 2.098.000,00

 Fully paid in share capital: 

 

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