MIRA
INFORM REPORT
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Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
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Name : |
KAFFEHUSET FRIELE AS |
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Registered Office : |
Midtunhaugen 6, Nesttun, 5224 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
951284629 |
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Legal Form : |
Private Independent |
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Line of Business : |
Coffee and Tea Manufacturing |
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No. of Employees : |
145 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Norway |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
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Kaffehuset Friele AS |
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Employees: |
145 |
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Company Type: |
Private Independent |
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Incorporation
Date: |
1989 |
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Fiscal Year End: |
31-Dec-2010 |
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Reporting
Currency: |
Norwegian Krone |
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Annual Sales: |
112.5 |
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Net Income: |
7.9 |
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Total Assets: |
88.6 |
Business Description
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Kaffehuset Friele AS is primarily engaged in one or more of the
following: (1) roasting coffee; (2) manufacturing coffee and tea concentrates
(including instant and freeze-dried); (3) blending tea; (4) manufacturing
herbal tea; and (5) manufacturing coffee extracts, flavorings, and syrups. |
Industry
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Industry |
Beverages (Non-Alcoholic) |
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ANZSIC 2006: |
1199 - Other Food Product Manufacturing
Not Elsewhere Classified |
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NACE 2002: |
1586 - Processing of tea and coffee |
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NAICS 2002: |
31192 - Coffee and Tea Manufacturing |
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UK SIC 2003: |
1586 - Processing of tea and coffee |
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US SIC 1987: |
2095 - Roasted Coffee |
Key Executives
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News
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Registered No.(NOR)
951284629
Profit & Loss Item Exchange Rate: USD 1 = NOK 6.047155
Balance Sheet Item Exchange Rate: USD 1 = NOK 5.8125
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Sales NOK(mil): |
680.6 |
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Assets NOK(mil): |
515.3 |
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Employees: |
145 |
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Fiscal Year End: |
31-Dec-2010 |
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Industry: |
Beverages
(Non-Alcoholic) |
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Incorporation Date: |
1989 |
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Company Type: |
Private
Independent |
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Quoted Status: |
Not Quoted |
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Registered No.(NOR): |
951284629 |
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Administrerende direktor: |
Jan Gustav
Andersen |
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More Business Descriptions
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Sara Lee and Kaffehuset Friele to Purchase House
of Coffee Business from ISS |
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Food &
Beverage Close-Up |
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[What follows is the full
text of the article.] Sara Lee Corp. and its
Norwegian joint venture partner Kaffehuset Friele announced they have entered
into an agreement with ISS A/S to acquire the House of Coffee business, a
food service provider of beverage solutions to offices and institutions in
Norway and Denmark. According to a release,
the deal is expected to close before the end of calendar 2011 and is subject
to customary conditions, including regulatory approval. "As we prepare for
the launch of our successful pure-play coffee company, we continue to
strengthen our positions in important markets that will be key to both our
success and the success of our partners," said Jan Bennink, executive
chairman, Sara Lee Corp. Sara Lee owns
approximately 45-percent of Kaffehuset Friele, a coffee company in Norway.
Through this joint venture, Sara Lee successfully commercializes products
such as Senseo coffee pods and Cafitesse liquid coffee in the Norwegian
market. In Denmark, Sara Lee owns Merrild, the country's number-one coffee
brand. The acquisition of House of Coffee will help Kaffehuset Friele and
Sara Lee strengthen their positions across various out-of-home channels in
both countries. "Through the
acquisition of House of Coffee we get a better foothold in the office coffee
market which is a steadily growing segment. The strategic partnership between
Kaffehuset Friele and Sara Lee continues to provide a strong platform for growth,"
said Olav Munch, CEO of Kaffehuset Friele. In connection with the
sale, the parties have entered into a strategic partnership agreement to
continue providing coffee vending services to the current House of Coffee
customers in the Norwegian and Danish markets. More information: www.saralee.com ((Comments on this story
may be sent to newsdesk@closeupmedia.com)) |
Annual
Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
NOK |
NOK |
NOK |
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Exchange Rate
(Period Average) |
6.047155 |
6.287787 |
5.651011 |
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Consolidated |
No |
No |
No |
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Total Revenue |
112.5 |
103.1 |
113.1 |
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Net Financial Items |
-1.1 |
-0.6 |
-0.1 |
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Operating Income |
12.1 |
14.1 |
17.7 |
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Income Before Tax |
11.0 |
13.5 |
17.7 |
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Net Income |
7.9 |
9.7 |
12.6 |
Annual Balance Sheet
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
NOK |
NOK |
NOK |
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Exchange Rate |
5.8125 |
5.7768 |
7.0021 |
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Consolidated |
No |
No |
No |
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Total Assets |
88.6 |
51.1 |
44.3 |
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Total Liabilities |
68.3 |
31.9 |
29.4 |
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Total Equity |
20.4 |
19.2 |
14.9 |
Annual Ratios
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
- |
- |
- |
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Exchange Rate |
- |
- |
- |
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Consolidated |
No |
No |
No |
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Operating Margin |
10.77 |
13.67 |
15.65 |
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Current Ratio |
1.22 |
1.29 |
1.18 |
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Total debt/total equity |
22.97 |
37.58 |
33.60 |
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Return on average equity |
40.12 |
54.81 |
68.45 |
Annual Growth Rates
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31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
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Filed Currency |
- |
- |
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Exchange Rate |
- |
- |
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Consolidated |
No |
No |
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Turnover Percent Change |
4.94% |
1.46% |
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Net Financial Items Percent Change |
-81.13% |
-1,200.34% |
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Operating Results Percent Change |
-17.35% |
-11.36% |
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Profit/Loss Before Tax Percent Change |
-21.74% |
-14.90% |
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Profit/Loss for the Year Percent Change |
-21.86% |
-14.74% |
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Assets Percent Change |
74.65% |
-4.78% |
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Debts Percent Change |
115.52% |
-10.49% |
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Equity Capital Percent Change |
6.75% |
6.50% |
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Operating Margin Percent Change |
-21.21% |
-12.65% |
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Current Ratio Percent Change |
-5.43% |
9.32% |
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Debt/Equity Ratio Percent Change |
-38.88% |
11.85% |
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Retun On Equity Percent Change |
-26.80% |
-19.93% |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.15 |
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1 |
Rs.81.79 |
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Euro |
1 |
Rs.68.34 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.