MIRA INFORM REPORT

 

 

Report Date :           

06.09.2011

 

IDENTIFICATION DETAILS

 

Name :

RANDABERG INDUSTRIES AS

 

 

Registered Office :

Harestadveien 77, Randaberg, 4070

 

 

Country :

Norway

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1987    

 

 

Com. Reg. No.:

946812250

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Performing Physical, Chemical, and other analytical testing services

 

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 :

No Complaints

 

 

Litigation :

----

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Norway

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

Company name & address 

 

Randaberg Industries AS

Harestadveien 77

Randaberg, 4070

Norway

Tel:       +47 51 41 21 00

Fax:      +47 51 41 88 48

Web: www.randabergindustries.no

 

 

Synthesis  

 

Employees:                  53

Company Type:            Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:            Ranyard Maritime AS

Incorporation Date:         1987   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2009

Reporting Currency:       Norwegian Krone

Annual Sales:               31.9

Net Income:                  3.0

Total Assets:                13.2

 

 

Business Description     

 

Randaberg Industries AS is primarily engaged in performing physical, chemical, and other analytical testing services, such as acoustics or vibration testing, assaying, biological testing (except medical and veterinary), calibration testing, electrical and electronic testing, geotechnical testing, mechanical testing, nondestructive testing, or thermal testing. The testing may occur in a laboratory or on-site.

 

Industry 

 

Industry            Business Services

ANZSIC 2006:    6925 - Scientific Testing and Analysis Services

NACE 2002:      7430 - Technical testing and analysis

NAICS 2002:     541380 - Testing Laboratories

UK SIC 2003:    7430 - Technical testing and analysis

US SIC 1987:    8734 - Testing Laboratories

 

           


Key Executives   

 

Name

Title

Ove Simonsen

Daglig leder, Purchasing Executive

Bodil Sem

Finance Manager

Anders Olsen

Sales Director, Marketing / Communication Executive

Thor Ravn

Production Director

Ole Jarl Rettedal

Styreleder

 

Registered No.(NOR): 946812250

 

1 - Profit & Loss Item Exchange Rate: USD 1 = NOK 6.287787

2 - Balance Sheet Item Exchange Rate: USD 1 = NOK 5.7768

 

 

Corporate Overview

 

Location

Harestadveien 77

Randaberg, 4070

Norway

Tel:       +47 51 41 21 00

Fax:      +47 51 41 88 48

Web:    www.randabergindustries.no

           

Sales NOK(mil):             200.6

Assets NOK(mil):           76.4

Employees:                   53

Fiscal Year End:            31-Dec-2009

Industry:                        Business Services

Incorporation Date:         1987

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(NOR):     946812250

Daglig leder,

Purchasing

Executive:                     Ove Simonsen

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

2229     -          Other Structural Metal Product Manufacturing

6712     -          Non-Residential Property Operators

222       -          Structural Metal Product Manufacturing

6639     -          Other Goods and Equipment Rental and Hiring Not Elsewhere Classified

2231     -          Boiler, Tank and Other Heavy Gauge Metal Container Manufacturing

2449     -          Other Domestic Appliance Manufacturing

6720     -          Real Estate Services

2469     -          Other Specialised Machinery and Equipment Manufacturing

6925     -          Scientific Testing and Analysis Services

223       -          Metal Container Manufacturing

2240     -          Sheet Metal Product Manufacturing (except Metal Structural and Container Products)

67         -          Property Operators and Real Estate Services

2222     -          Prefabricated Metal Building Manufacturing

2239     -          Other Metal Container Manufacturing

2499     -          Other Machinery and Equipment Manufacturing Not Elsewhere Classified

 

NACE 2002 Codes:

7032     -          Management of real estate on a fee or contract basis

281       -          Manufacture of structural metal products

70         -          Real Estate Activities

2821     -          Manufacture of tanks, reservoirs and containers of metal

2921     -          Manufacture of furnaces and furnace burners

7140     -          Renting of personal and household goods not elsewhere classified

2924     -          Manufacture of other general purpose machinery not elsewhere classified

7031     -          Real estate agencies

7430     -          Technical testing and analysis

2872     -          Manufacture of light metal packaging

703       -          Real estate activities on a fee or contract basis

2811     -          Manufacture of metal structures and parts of structures

2830     -          Manufacture of steam generators, except central heating hot water boilers

7020     -          Letting of own property

2953     -          Manufacture of machinery for food, beverage and tobacco processing

 

NAICS 2002 Codes:

332313  -          Plate Work Manufacturing

332431  -          Metal Can Manufacturing

531190  -          Lessors of Other Real Estate Property

53139   -          Other Activities Related to Real Estate

33231   -          Plate Work and Fabricated Structural Product Manufacturing

33242   -          Metal Tank (Heavy Gauge) Manufacturing

53         -          Real Estate and Rental and Leasing

53131   -          Real Estate Property Managers

3324     -          Boiler, Tank, and Shipping Container Manufacturing

333294  -          Food Product Machinery Manufacturing

53121   -          Offices of Real Estate Agents and Brokers

532299  -          All Other Consumer Goods Rental

33241   -          Power Boiler and Heat Exchanger Manufacturing

333414  -          Heating Equipment (except Warm Air Furnaces) Manufacturing

531210  -          Offices of Real Estate Agents and Brokers

54138   -          Testing Laboratories

332322  -          Sheet Metal Work Manufacturing

332439  -          Other Metal Container Manufacturing

5312     -          Offices of Real Estate Agents and Brokers

531390  -          Other Activities Related to Real Estate

332311  -          Prefabricated Metal Building and Component Manufacturing

332420  -          Metal Tank (Heavy Gauge) Manufacturing

531       -          Real Estate

531311  -          Residential Property Managers

332312  -          Fabricated Structural Metal Manufacturing

33243   -          Metal Can, Box, and Other Metal Container (Light Gauge) Manufacturing

53119   -          Lessors of Other Real Estate Property

531312  -          Nonresidential Property Managers

332410  -          Power Boiler and Heat Exchanger Manufacturing

333993  -          Packaging Machinery Manufacturing

5313     -          Activities Related to Real Estate

541380  -          Testing Laboratories

 

US SIC 1987:

3433     -          Heating Equipment, Except Electric and Warm Air Furnaces

341       -          Metal Cans and Shipping Containers

65         -          Real Estate

3448     -          Prefabricated Metal Buildings and Components

7359     -          Equipment Rental and Leasing, Not Elsewhere Classified

3441     -          Fabricated Structural Metal

3556     -          Food Products Machinery

8734     -          Testing Laboratories

344       -          Fabricated Structural Metal Products

3444     -          Sheet Metal Work

6531     -          Real Estate Agents and Managers

3411     -          Metal Cans

3412     -          Metal Shipping Barrels, Drums, Kegs, and Pails

6519     -          Lessors of Real Property, Not Elsewhere Classified

3443     -          Fabricated Plate Work (Boiler Shops)

3565     -          Packaging Machinery

 

UK SIC 2003:

7032     -          Management of real estate on a fee or contract basis

281       -          Manufacture of structural metal products

70         -          Real Estate Activities

2821     -          Manufacture of tanks, reservoirs and containers of metal

2921     -          Manufacture of furnaces and furnace burners

7140     -          Renting of personal and household goods not elsewhere classified

2924     -          Manufacture of other general purpose machinery not elsewhere classified

7031     -          Real estate agencies

7430     -          Technical testing and analysis

2872     -          Manufacture of light metal packaging

703       -          Real estate activities on a fee or contract basis

2811     -          Manufacture of metal structures and parts of structures

2830     -          Manufacture of steam generators, except central heating hot water boilers

7020     -          Letting of own property

2953     -          Manufacture of machinery for food, beverage and tobacco processing

 

Business Description

Randaberg Industries AS is primarily engaged in performing physical, chemical, and other analytical testing services, such as acoustics or vibration testing, assaying, biological testing (except medical and veterinary), calibration testing, electrical and electronic testing, geotechnical testing, mechanical testing, nondestructive testing, or thermal testing. The testing may occur in a laboratory or on-site.

 

Financial Data

Financials in:

NOK(mil)

 

Revenue:

200.6

Net Income:

18.6

Assets:

76.4

Total Liabilities:

53.2

 

 

 

Date of Financial Data:

31-Dec-2009

 

1 Year Growth

NA

NA

NA

 

Key Corporate Relationships

Bank:

Sparebank 1 SR Bank

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Randaberg Industries AS

Randaberg Industries AS 
Total Corporate Family Members: 2 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Ranyard Maritime AS

Parent

 

 

 

 

 

Randaberg Industries AS

Subsidiary

Randaberg, Rogaland

Norway

Business Services

31.9

53

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Ole Jarl Rettedal

 

Styreleder

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Ove Simonsen

 

Daglig leder, Purchasing Executive

Managing Director

 

Bodil Sem

 

Finance Manager

Finance Executive

 

Anders Olsen

 

Sales Director, Marketing / Communication Executive

Sales Executive

 

Frode Mollen

 

R&D / Engineering Executive

Engineering/Technical Executive

 

Thor Ravn

 

Production Director

Product Management Executive

 

 

Annual Profit & Loss

 

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

Filed Currency

NOK

NOK

NOK

Exchange Rate (Period Average)

6.287787

5.651011

5.860317

Consolidated

No

No

No

 

 

 

 

Total Revenue

31.9

27.4

21.0

Net Financial Items

0.0

-0.1

0.2

Operating Income

4.1

1.9

1.2

Income Before Tax

4.1

1.8

1.4

Net Income

3.0

1.3

1.0

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Filed Currency

NOK

NOK

NOK

Exchange Rate

5.7768

7.0021

5.42985

Consolidated

No

No

No

 

 

 

 

Total Assets

13.2

11.4

8.7

Total Liabilities

9.2

8.3

5.3

Total Equity

4.0

3.1

3.3

 

 

Annual Ratios

 

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Operating Margin

12.92

6.77

5.91

Current Ratio

1.54

1.41

1.83

Total debt/total equity

30.41

27.19

38.55

Return on average equity

79.82

32.94

33.16

 

Annual Growth Rates

 

 

 

 

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Turnover Percent Change

29.36%

26.17%

Net Financial Items Percent Change

74.87%

-133.42%

Operating Results Percent Change

146.81%

44.67%

Profit/Loss Before Tax Percent Change

155.08%

20.66%

Profit/Loss for the Year Percent Change

158.45%

19.51%

Assets Percent Change

-4.62%

70.56%

Debts Percent Change

-8.83%

102.09%

Equity Capital Percent Change

6.67%

20.31%

Operating Margin Percent Change

90.84%

14.55%

Current Ratio Percent Change

9.22%

-22.95%

Debt/Equity Ratio Percent Change

11.84%

-29.47%

Retun On Equity Percent Change

142.32%

-0.66%

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.94

UK Pound

1

Rs.74.28

Euro

1

Rs.64.97

 

 

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

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

----

NB

New Business

----

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.