|
Report Date : |
11.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
COLUMBI AS
|
|
|
|
|
Registered Office : |
Florvă G 5305 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
20.02.1995 |
|
|
|
|
Com. Reg. No.: |
964142491 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of shipping equipment and fishing tackle |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Norway |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company name |
COLUMBI AS |
Company number |
964142491 |
|
Address |
- |
|
|
|
City |
FLORVĂ…G 5305 |
Legal form |
Limited company |
|
Website address |
E-mail address |
- |
|
|
Telephone Number |
00 47 56148200 |
Fax Number |
00 47 |
|
Registration date |
20/02/1995 |
Status |
Active |
|
Previous Name |
- |
Share capital |
250,000 |
|
Name change date |
- |
Currency |
- |
|
|
|
Number of employees |
0 |
Postal Address
|
Address |
City |
Postal Code |
|
Postboks 108 |
FLORVĂ…G |
5329 |
Current Directors
|
Name |
Address |
Function |
|
Sandvik, Kjetil |
Askvegen 217 ASK 5307 |
Chairman of the board |
|
Larsen, Thore |
Hilleren
61 HAUGLANDSHELLA 5310 |
Board member(s) |
|
Larsen, Ida Helene Troye |
Hilleren 61 HAUGLANDSHELLA 5310 |
Deputy chairman |
Other
Company Officials
|
Name |
Address |
Function |
|
REVISJONSSELSKAPET OLSTAD & CO AS |
C Sundtsg 39 BERGEN 5004 |
Accountant |
|
Larsen, Ida Helene Troye |
Hilleren 61 HAUGLANDSHELLA 5310 |
Contact person / representative |
Na
Shareholders
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
KJETIL SANDVIK |
125 |
50.0 |
|
IDA HELENE TROYE LARSEN |
125 |
50.0 |
Na
Na
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2011 |
1,977,000 |
525,000 |
628,000 |
|
2010 |
1,824,000 |
319,000 |
485,000 |
|
2009 |
1,085,000 |
184,000 |
387,000 |
|
2008 |
1,128,000 |
168,000 |
374,000 |
|
2007 |
1,537,000 |
228,000 |
417,000 |
Profit & Loss
Account
|
Financial Year |
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Sales Revenue |
1,977,000 |
8.4 % |
1,824,000 |
68.1 % |
1,085,000 |
-3.8 % |
1,128,000 |
-26.6 % |
1,537,000 |
|
Other operating income |
307,000 |
31.2 % |
234,000 |
16.4 % |
201,000 |
18.2 % |
170,000 |
41.7 % |
120,000 |
|
Total Operating Income |
2,284,000 |
11.0 % |
2,058,000 |
60.0 % |
1,286,000 |
-0.9 % |
1,298,000 |
-21.7 % |
1,657,000 |
|
Total Operating Expenses |
1,630,000 |
-0.5 % |
1,639,000 |
65.2 % |
992,000 |
1.3 % |
979,000 |
-24.4 % |
1,295,000 |
|
Operating Profit |
654,000 |
56.1 % |
419,000 |
42.5 % |
294,000 |
-7.8 % |
319,000 |
-11.9 % |
362,000 |
|
Wages & Salaries |
112,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Depreciation |
60,000 |
46.3 % |
41,000 |
46.4 % |
28,000 |
27.3 % |
22,000 |
0.0 % |
22,000 |
|
Financial Income |
0 |
- |
0 |
- |
0 |
-100.0 % |
16,000 |
1,500.0 % |
1,000 |
|
Financial Expenses |
129,000 |
27.7 % |
101,000 |
-8.2 % |
110,000 |
-33.7 % |
166,000 |
23.0 % |
135,000 |
|
Profit Before Tax |
525,000 |
64.6 % |
319,000 |
73.4 % |
184,000 |
9.5 % |
168,000 |
-26.3 % |
228,000 |
|
Tax |
-147,000 |
-65.2 % |
-89,000 |
-71.2 % |
-52,000 |
-10.6 % |
-47,000 |
26.6 % |
-64,000 |
|
Profit After Tax |
378,000 |
64.3 % |
230,000 |
74.2 % |
132,000 |
9.1 % |
121,000 |
-26.2 % |
164,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Result after Dividends |
378,000 |
64.3 % |
230,000 |
74.2 % |
132,000 |
9.1 % |
121,000 |
-26.2 % |
164,000 |
Balance Sheet
|
Financial Year |
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Land & Buildings |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Plant & Machinery |
1,505,000 |
26.2 % |
1,193,000 |
20.3 % |
992,000 |
21.7 % |
815,000 |
-2.3 % |
834,000 |
|
Other Tangible Assets |
48,000 |
29.7 % |
37,000 |
-14.0 % |
43,000 |
-10.4 % |
48,000 |
65.5 % |
29,000 |
|
Total Tangible Assets |
1,553,000 |
26.3 % |
1,230,000 |
18.8 % |
1,035,000 |
19.9 % |
863,000 |
0.0 % |
863,000 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Fixed Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL FIXED ASSETS |
1,553,000 |
26.3 % |
1,230,000 |
18.8 % |
1,035,000 |
19.9 % |
863,000 |
0.0 % |
863,000 |
|
Inventories |
858,000 |
72.3 % |
498,000 |
-33.4 % |
748,000 |
-23.0 % |
972,000 |
-13.4 % |
1,122,000 |
|
Trade Receivables |
224,000 |
279.7 % |
59,000 |
-53.2 % |
126,000 |
53.7 % |
82,000 |
-63.2 % |
223,000 |
|
Other Receivables |
539,000 |
80.3 % |
299,000 |
113.6 % |
140,000 |
311.8 % |
34,000 |
-70.4 % |
115,000 |
|
Cash & Bank Deposits |
4,000 |
100.0 % |
2,000 |
0.0 % |
2,000 |
-71.4 % |
7,000 |
-61.1 % |
18,000 |
|
Other Current Assets |
0 |
- |
0 |
100.0 % |
-1,000 |
- |
0 |
- |
0 |
|
TOTAL CURRENT ASSETS |
1,625,000 |
89.4 % |
858,000 |
-15.5 % |
1,015,000 |
-7.3 % |
1,095,000 |
-25.9 % |
1,478,000 |
|
TOTAL ASSETS |
3,179,000 |
52.3 % |
2,088,000 |
1.9 % |
2,050,000 |
4.7 % |
1,958,000 |
-16.4 % |
2,341,000 |
|
Trade Creditors |
153,000 |
- |
0 |
-100.0 % |
28,000 |
-3.4 % |
29,000 |
-93.6 % |
455,000 |
|
Short Term Liabilities to Financial Institutions |
418,000 |
2,885.7 % |
14,000 |
-80.6 % |
72,000 |
14.3 % |
63,000 |
- |
0 |
|
Short Term Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
163,000 |
91.8 % |
85,000 |
54.5 % |
55,000 |
7.8 % |
51,000 |
-21.5 % |
65,000 |
|
TOTAL CURRENT LIABILITIES |
734,000 |
641.4 % |
99,000 |
-36.1 % |
155,000 |
8.4 % |
143,000 |
-72.5 % |
520,000 |
|
Long Term Liabilities to Financial Institutions |
345,000 |
-8.0 % |
375,000 |
-7.4 % |
405,000 |
-6.9 % |
435,000 |
-6.5 % |
465,000 |
|
Other Long Term Loans |
1,455,000 |
30.4 % |
1,116,000 |
2.0 % |
1,094,000 |
8.9 % |
1,005,000 |
7.0 % |
939,000 |
|
Long Term Pension Commitments |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Liabilities |
16,000 |
23.1 % |
13,000 |
44.4 % |
9,000 |
800.0 % |
1,000 |
- |
0 |
|
TOTAL LONG TERM LIABILITIES |
1,816,000 |
20.7 % |
1,504,000 |
-0.3 % |
1,508,000 |
4.6 % |
1,441,000 |
2.6 % |
1,404,000 |
|
TOTAL LIABILITIES |
2,550,000 |
59.1 % |
1,603,000 |
-3.6 % |
1,663,000 |
5.0 % |
1,584,000 |
-17.7 % |
1,924,000 |
|
Share Capital |
250,000 |
0.0 % |
250,000 |
0.0 % |
250,000 |
0.0 % |
250,000 |
0.0 % |
250,000 |
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
378,000 |
60.9 % |
235,000 |
71.5 % |
137,000 |
10.5 % |
124,000 |
-25.7 % |
167,000 |
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
628,000 |
29.5 % |
485,000 |
25.3 % |
387,000 |
3.5 % |
374,000 |
-10.3 % |
417,000 |
Other Financials
|
Financial Year |
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working Capital |
891,000 |
17.4 % |
759,000 |
-11.7 % |
860,000 |
-9.7 % |
952,000 |
-0.6 % |
958,000 |
|
Net Worth |
628,000 |
29.5 % |
485,000 |
25.3 % |
387,000 |
3.5 % |
374,000 |
-10.3 % |
417,000 |
|
Capital Employed |
2,444,000 |
22.9 % |
1,989,000 |
5.0 % |
1,895,000 |
4.4 % |
1,815,000 |
-0.3 % |
1,821,000 |
Ratios
|
Financial Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
Pre-Tax Profit Margin |
26.56 |
17.49 |
16.96 |
14.89 |
14.83 |
|
Return on Capital Employed |
21.48 |
16.04 |
9.71 |
9.26 |
12.52 |
|
Return on Total Assets Employed |
16.51 |
15.28 |
8.98 |
8.58 |
9.74 |
|
Return on Net Assets Employed |
83.60 |
65.77 |
47.55 |
44.92 |
54.68 |
|
Sales/Net Working Capital |
2.22 |
2.40 |
1.26 |
1.18 |
1.60 |
|
Stock Turnover Ratio |
43.40 |
27.30 |
68.94 |
86.17 |
73.00 |
|
Debtor Days |
41.36 |
11.81 |
42.39 |
26.53 |
52.96 |
|
Creditor Days |
28.25 |
- |
9.42 |
9.38 |
108.05 |
|
Current Ratio |
2.21 |
8.67 |
6.55 |
7.66 |
2.84 |
|
Liquidity Ratio/Acid Test |
1.04 |
3.64 |
1.72 |
0.86 |
0.68 |
|
Current Debt Ratio |
1.17 |
0.20 |
0.40 |
0.38 |
1.25 |
|
Solvency Ratio |
19.75 |
23.23 |
18.88 |
19.10 |
17.81 |
|
Equity in Percentage |
19.76 |
23.23 |
18.88 |
19.10 |
17.81 |
|
Total Debt Ratio |
4.06 |
3.31 |
4.30 |
4.24 |
4.61 |
Na
Industry
|
Main Industry Code & Description |
Wholesale of shipping equipment and fishing tackle |
|
Secondary Industry Code & Description |
- |
|
Other
Industry Code & Description |
- |
Event History
|
Date |
Description |
|
23/03/2012 |
Rating Change |
|
13/03/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
|
22/11/2011 |
CHANGE OF AUDITOR |
|
22/11/2011 |
Auditing of end of year report and accounts |
|
29/08/2011 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.