|
Report Date : |
20.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
AIR PRODUCTS AS |
|
|
|
|
Registered Office : |
Vige Havnevei 78 , |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2010 |
|
|
|
|
Date of Incorporation : |
19.02.1995 |
|
|
|
|
Com. Reg. No.: |
917997500 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of machinery and equipment for trade |
|
|
|
|
No. of Employees : |
46 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Norway |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company Name |
AIR PRODUCTS AS |
Company Number |
917997500 |
|
Company name |
AIR PRODUCTS AS |
Company number |
917997500 |
|
Address |
Vige Havnevei 78 |
|
|
|
City |
KRISTIANSAND S 4633 |
Legal form |
Limited company |
|
Website address |
E-mail address |
sunda@airproducts.no |
|
|
Telephone Number
|
00 47 38039900 |
Fax Number |
00 47 38100120 |
|
Registration
date |
19/02/1995 |
Status |
Active |
|
Previous Name |
- |
Share capital |
42,285,000 |
|
Name change date
|
- |
Currency |
- |
|
|
|
Number of
employees |
46 |
|
Address |
City |
Postal Code |
|
Postboks 4103 Kongsgaard |
KRISTIANSAND S |
4689 |
|
Company Name |
|
Company Number |
|
|
|
|
197 companies in 33 countries. Click here to visit
linked companies |
|
Year to Date |
Sales Revenue |
Profit Before
Tax |
Total Equity |
|
2010 |
330,981,000 |
66,351,000 |
168,430,000 |
|
2009 |
429,644,000 |
70,511,000 |
184,181,000 |
|
2008 |
396,528,000 |
50,902,000 |
133,503,000 |
|
2007 |
348,566,000 |
33,539,000 |
96,988,000 |
|
2006 |
298,799,000 |
16,014,000 |
73,120,000 |
|
Main Industry
Code & Description |
Wholesale of machinery and equipment for trade |
|
Secondary
Industry Code & Description |
Wholesale of chemical products |
|
Other Industry
Code & Description |
- |
|
Shareholder Name
|
Number of Shares
|
Percentage Share
|
|
AIR PRODUCTS HOLDING BV |
42,285 |
100.0 |
|
Name |
Address |
Function |
|
HĂ¥vet 8 ARENDAL 4838 |
General manager/CEO |
|
|
Jaktoddveien 20 KRISTIANSAND S 4621 |
Chairman of the board |
|
|
Fuglevik Terrasse 24 KRISTIANSAND S 4637 |
Board member(s) |
|
|
Kokleheia 39 KRISTIANSAND S 4630 |
Board member(s) |
|
|
HĂ¥vet 8 ARENDAL 4838 |
Board member(s) |
|
|
1731 Creek View Drive PA1851 Vogelsville |
Board member(s) |
|
|
70 Kings Road Surrey KT12 2RB |
Board member(s) |
|
|
The Mews Calveley Hall Stables, Tarporley |
Board member(s) |
No data exist
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Sales Revenue |
330,981,000 |
-23.0 % |
429,644,000 |
8.4 % |
396,528,000 |
13.8 % |
348,566,000 |
16.7 % |
298,799,000 |
|
Other operating income |
0 |
-100.0 % |
13,084,000 |
- |
0 |
- |
0 |
- |
0 |
|
Total Operating Income |
330,981,000 |
-25.2 % |
442,728,000 |
11.7 % |
396,528,000 |
13.8 % |
348,566,000 |
16.7 % |
298,799,000 |
|
Total Operating Expenses |
272,374,000 |
-26.7 % |
371,386,000 |
6.9 % |
347,464,000 |
10.5 % |
314,425,000 |
11.1 % |
283,046,000 |
|
Operating Profit |
58,607,000 |
-17.9 % |
71,342,000 |
45.4 % |
49,064,000 |
43.7 % |
34,141,000 |
116.7 % |
15,754,000 |
|
Wages & Salaries |
38,966,000 |
-32.7 % |
57,894,000 |
6.9 % |
54,169,000 |
21.9 % |
44,437,000 |
15.3 % |
38,556,000 |
|
Depreciation |
2,077,000 |
-10.1 % |
2,310,000 |
12.1 % |
2,060,000 |
-20.3 % |
2,584,000 |
35.3 % |
1,910,000 |
|
Financial Income |
8,191,000 |
222.4 % |
2,541,000 |
-9.3 % |
2,801,000 |
52.3 % |
1,839,000 |
68.1 % |
1,094,000 |
|
Financial Expenses |
447,000 |
-86.7 % |
3,372,000 |
250.5 % |
962,000 |
-60.6 % |
2,441,000 |
192.7 % |
834,000 |
|
Profit Before Tax |
66,351,000 |
-5.9 % |
70,511,000 |
38.5 % |
50,902,000 |
51.8 % |
33,539,000 |
109.4 % |
16,014,000 |
|
Tax |
-18,674,000 |
5.8 % |
-19,832,000 |
-37.8 % |
-14,387,000 |
-48.8 % |
-9,671,000 |
-134.1 % |
-4,132,000 |
|
Profit After Tax |
47,677,000 |
-5.9 % |
50,679,000 |
38.8 % |
36,515,000 |
53.0 % |
23,868,000 |
100.9 % |
11,882,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
0 |
- |
0 |
- |
0 |
|
Net Result after Dividends |
47,677,000 |
-5.9 % |
50,679,000 |
38.8 % |
36,515,000 |
53.0 % |
23,868,000 |
100.9 % |
11,882,000 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Land & Buildings |
1,429,000 |
-1.2 % |
1,447,000 |
-1.4 % |
1,467,000 |
-1.3 % |
1,486,000 |
30.2 % |
1,141,000 |
|
Plant & Machinery |
3,084,000 |
-14.6 % |
3,612,000 |
495.1 % |
607,000 |
-34.4 % |
925,000 |
-30.1 % |
1,324,000 |
|
Other Tangible Assets |
4,102,000 |
353.8 % |
904,000 |
61.4 % |
560,000 |
49.7 % |
374,000 |
-65.8 % |
1,093,000 |
|
Total Tangible Assets |
8,615,000 |
44.5 % |
5,963,000 |
126.4 % |
2,634,000 |
-5.4 % |
2,785,000 |
-21.7 % |
3,558,000 |
|
Intangible Assets |
5,274,000 |
208.2 % |
1,711,000 |
-61.5 % |
4,440,000 |
-19.4 % |
5,506,000 |
-21.4 % |
7,006,000 |
|
Other Fixed Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL FIXED ASSETS |
13,889,000 |
81.0 % |
7,674,000 |
8.5 % |
7,074,000 |
-14.7 % |
8,291,000 |
-21.5 % |
10,564,000 |
|
Inventories |
9,850,000 |
-1.2 % |
9,967,000 |
-20.0 % |
12,455,000 |
84.4 % |
6,753,000 |
88.9 % |
3,575,000 |
|
Trade Receivables |
72,767,000 |
-23.5 % |
95,132,000 |
-8.8 % |
104,289,000 |
84.6 % |
56,489,000 |
-22.8 % |
73,195,000 |
|
Other Receivables |
202,942,000 |
23.9 % |
163,774,000 |
14.4 % |
143,205,000 |
18.5 % |
120,861,000 |
61.5 % |
74,851,000 |
|
Cash & Bank Deposits |
24,690,000 |
-9.2 % |
27,185,000 |
165.9 % |
10,223,000 |
319.0 % |
2,440,000 |
-11.1 % |
2,745,000 |
|
Other Current Assets |
0 |
100.0 % |
-1,000 |
- |
0 |
- |
0 |
-100.0 % |
1,000 |
|
TOTAL CURRENT ASSETS |
310,249,000 |
4.8 % |
296,057,000 |
9.6 % |
270,172,000 |
44.8 % |
186,543,000 |
20.8 % |
154,367,000 |
|
TOTAL ASSETS |
324,138,000 |
6.7 % |
303,731,000 |
9.6 % |
277,246,000 |
42.3 % |
194,834,000 |
18.1 % |
164,931,000 |
|
Trade Creditors |
7,695,000 |
-56.2 % |
17,550,000 |
-6.7 % |
18,805,000 |
20.8 % |
15,568,000 |
-3.7 % |
16,166,000 |
|
Short Term Liabilities to Financial Institutions |
0 |
- |
0 |
-100.0 % |
1,090,000 |
-6.0 % |
1,159,000 |
-67.3 % |
3,549,000 |
|
Short Term Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
145,131,000 |
51.2 % |
95,961,000 |
-11.3 % |
108,149,000 |
50.2 % |
71,993,000 |
12.0 % |
64,281,000 |
|
TOTAL CURRENT LIABILITIES |
152,826,000 |
34.6 % |
113,511,000 |
-11.4 % |
128,044,000 |
44.3 % |
88,720,000 |
5.6 % |
83,996,000 |
|
Long Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
2,882,000 |
-52.3 % |
6,038,000 |
-23.4 % |
7,882,000 |
20.3 % |
6,553,000 |
-16.1 % |
7,815,000 |
|
Other Long Term Liabilities |
0 |
- |
0 |
-100.0 % |
7,817,000 |
203.8 % |
2,573,000 |
- |
0 |
|
TOTAL LONG TERM LIABILITIES |
2,882,000 |
-52.3 % |
6,038,000 |
-61.5 % |
15,699,000 |
72.0 % |
9,126,000 |
16.8 % |
7,815,000 |
|
TOTAL LIABILITIES |
155,708,000 |
30.2 % |
119,549,000 |
-16.8 % |
143,744,000 |
46.9 % |
97,846,000 |
6.6 % |
91,811,000 |
|
Share Capital |
42,285,000 |
0.0 % |
42,285,000 |
0.0 % |
42,285,000 |
0.0 % |
42,285,000 |
0.0 % |
42,285,000 |
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
126,145,000 |
-11.1 % |
141,896,000 |
55.6 % |
91,218,000 |
66.8 % |
54,703,000 |
77.4 % |
30,835,000 |
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
168,430,000 |
-8.6 % |
184,181,000 |
38.0 % |
133,503,000 |
37.6 % |
96,988,000 |
32.6 % |
73,120,000 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
|
Total Exports |
304,904,000 |
-19.8 % |
379,975,000 |
- |
- |
- |
- |
- |
- |
|
Working Capital |
157,423,000 |
-13.8 % |
182,546,000 |
28.4 % |
142,128,000 |
45.3 % |
97,823,000 |
39.0 % |
70,371,000 |
|
Net Worth |
163,156,000 |
-10.6 % |
182,470,000 |
41.4 % |
129,063,000 |
41.1 % |
91,482,000 |
38.4 % |
66,114,000 |
|
Capital Employed |
171,312,000 |
-9.9 % |
190,219,000 |
27.5 % |
149,202,000 |
40.6 % |
106,114,000 |
31.1 % |
80,935,000 |
|
2010 |
2009 |
2008 |
2007 |
2006 |
|
|
Pre-Tax Profit Margin |
20.05 |
16.41 |
12.84 |
9.62 |
5.36 |
|
Return on Capital Employed |
38.73 |
37.07 |
34.12 |
31.61 |
19.79 |
|
Return on Total Assets Employed |
20.47 |
23.21 |
18.36 |
17.21 |
9.71 |
|
Return on Net Assets Employed |
39.39 |
38.28 |
38.13 |
34.58 |
21.90 |
|
Sales/Net Working Capital |
2.10 |
2.35 |
2.79 |
3.56 |
4.25 |
|
Stock Turnover Ratio |
2.98 |
2.32 |
3.14 |
1.94 |
1.20 |
|
Debtor Days |
80.25 |
80.82 |
96.00 |
59.15 |
89.41 |
|
Creditor Days |
8.49 |
14.91 |
17.31 |
16.30 |
19.75 |
|
Current Ratio |
2.03 |
2.61 |
2.11 |
2.10 |
1.84 |
|
Liquidity Ratio/Acid Test |
1.97 |
2.52 |
2.01 |
2.03 |
1.80 |
|
Current Debt Ratio |
0.91 |
0.62 |
0.96 |
0.91 |
1.15 |
|
Solvency Ratio |
51.96 |
60.64 |
48.15 |
49.78 |
44.33 |
|
Equity in Percentage |
52.82 |
60.98 |
48.94 |
51.23 |
46.30 |
|
Total Debt Ratio |
0.92 |
0.65 |
1.08 |
1.01 |
1.26 |
|
Date |
Description |
|
21/02/2012 |
Limit Change |
|
21/02/2012 |
Rating Change |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.89 |
|
|
1 |
Rs.83.18 |
|
Euro |
1 |
Rs.68.06 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.