MIRA
INFORM REPORT
|
Report Date : |
11.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
KVILVANG AS |
|
|
|
|
Registered Office : |
Kortbã¸Lgen 1, Gamle Fredrikstad 1630 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2010 |
|
|
|
|
Date of Incorporation : |
08.02.2003 |
|
|
|
|
Com. Reg. No.: |
985284679 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Manufacture of bodies (coachwork) for motor vehicles.
manufacture of trailers and semi-trailers |
|
|
|
|
No. of Employees : |
9 |
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 : |
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 |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
REGISTERED NAME & COMPANY SUMMARY
|
Company Name |
KVILVANG AS |
Company Number |
985284679 |
|
Company name |
KVILVANG AS |
Company number |
985284679 |
|
Address |
Kortbølgen 1 |
Safe number |
- |
|
City |
GAMLE FREDRIKSTAD 1630 |
Legal form |
Limited company |
|
Website address |
E-mail address |
bk@bkhengeren.no |
|
|
Telephone Number |
00 47 69358020 |
Fax Number |
00 47 69358021 |
|
Registration date |
08/02/2003 |
Status |
Active |
|
Previous Name |
- |
Share capital |
1,000,000 |
|
Name change date |
- |
Currency |
- |
|
|
|
Number of employees |
9 |
DIRECTORS/MANAGEMENT
Current Directors
|
Name |
Address |
Function |
|
Spinellveien 9 GAMLE FREDRIKSTAD 1639 |
General manager/CEO |
|
|
Spinellveien 9 GAMLE FREDRIKSTAD 1639 |
Chairman of the board |
|
|
Spinellveien 9 GAMLE FREDRIKSTAD 1639 |
Board member(s) |
|
|
Lunteveien 31 C GAMLE FREDRIKSTAD 1633 |
Deputy board member/substitute |
Other Company Officials
|
Name |
Address |
Function |
|
Vangsveien 121 HAMAR 2318 |
Accountant |
NEGATIVE INFORMATION
Na
SHARE & SHARE CAPITAL
INFORMATION
Shareholders
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
BJØRN KVILVANG |
70 |
70.0 |
|
BERIT KVILVANG |
30 |
30.0 |
PAYMENT INFORMATION
Na
GROUP STRUCTURE & AFFILIATED
COMPANIES
Na
FINANCIAL INFORMATION
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2010 |
41,472,000 |
591,000 |
8,108,000 |
|
2009 |
34,861,000 |
2,238,000 |
7,688,000 |
|
2008 |
33,174,000 |
2,795,000 |
5,987,000 |
|
2007 |
31,520,000 |
1,023,000 |
3,939,000 |
|
2006 |
21,421,000 |
95,000 |
3,130,000 |
Profit & Loss Account
|
|
Financial Year |
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
|
Sales Revenue |
41,472,000 |
19.0 % |
34,861,000 |
5.1 % |
33,174,000 |
5.2 % |
31,520,000 |
47.1 % |
21,421,000 |
|
|
Other operating income |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Operating Income |
41,472,000 |
19.0 % |
34,861,000 |
5.1 % |
33,174,000 |
5.2 % |
31,520,000 |
47.1 % |
21,421,000 |
|
|
Total Operating Expenses |
40,248,000 |
25.5 % |
32,071,000 |
6.6 % |
30,085,000 |
-0.2 % |
30,131,000 |
40.9 % |
21,382,000 |
|
|
Operating Profit |
1,224,000 |
-56.1 % |
2,790,000 |
-9.7 % |
3,089,000 |
122.4 % |
1,389,000 |
3,461.5 % |
39,000 |
|
|
Wages & Salaries |
4,214,000 |
54.8 % |
2,723,000 |
7.0 % |
2,545,000 |
36.3 % |
1,867,000 |
9.9 % |
1,699,000 |
|
|
Depreciation |
136,000 |
-4.9 % |
143,000 |
2.9 % |
139,000 |
-89.7 % |
1,354,000 |
2.8 % |
1,317,000 |
|
|
Financial Income |
573,000 |
174.2 % |
209,000 |
23.7 % |
169,000 |
87.8 % |
90,000 |
2.3 % |
88,000 |
|
|
Financial Expenses |
1,205,000 |
58.1 % |
762,000 |
64.9 % |
462,000 |
1.3 % |
456,000 |
1,281.8 % |
33,000 |
|
|
Profit Before Tax |
591,000 |
-73.6 % |
2,238,000 |
-19.9 % |
2,795,000 |
173.2 % |
1,023,000 |
976.8 % |
95,000 |
|
|
Tax |
-171,000 |
68.2 % |
-537,000 |
28.2 % |
-748,000 |
-249.5 % |
-214,000 |
-224.4 % |
172,000 |
|
|
Profit After Tax |
420,000 |
-75.3 % |
1,701,000 |
-16.9 % |
2,047,000 |
153.0 % |
809,000 |
203.0 % |
267,000 |
|
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Net Result after Dividends |
420,000 |
-75.3 % |
1,701,000 |
-16.9 % |
2,047,000 |
153.0 % |
809,000 |
203.0 % |
267,000 |
![[ghyper]](KVILVANG%20AS%20-%20190091%2011-Aug-2012_files/image002.gif){kind=small}
Balance Sheet
|
|
Financial Year |
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
|
Land & Buildings |
76,000 |
-14.6 % |
89,000 |
-12.7 % |
102,000 |
-11.3 % |
115,000 |
- |
0 |
|
|
Plant & Machinery |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Tangible Assets |
377,000 |
29.6 % |
291,000 |
1.4 % |
287,000 |
-4.0 % |
299,000 |
-13.1 % |
344,000 |
|
|
Total Tangible Assets |
453,000 |
19.2 % |
380,000 |
-2.3 % |
389,000 |
-6.0 % |
414,000 |
20.3 % |
344,000 |
|
|
Intangible Assets |
554,000 |
-7.4 % |
598,000 |
-4.9 % |
629,000 |
-20.6 % |
792,000 |
-54.3 % |
1,734,000 |
|
|
Other Fixed Assets |
1,070,000 |
97.1 % |
543,000 |
-57.3 % |
1,273,000 |
- |
0 |
- |
0 |
|
|
TOTAL FIXED ASSETS |
2,077,000 |
36.6 % |
1,521,000 |
-33.6 % |
2,291,000 |
90.0 % |
1,206,000 |
-42.0 % |
2,078,000 |
|
|
Inventories |
8,235,000 |
-5.2 % |
8,684,000 |
2.6 % |
8,463,000 |
18.6 % |
7,138,000 |
45.2 % |
4,917,000 |
|
|
Trade Receivables |
7,224,000 |
11.2 % |
6,496,000 |
7.4 % |
6,049,000 |
30.4 % |
4,640,000 |
39.2 % |
3,333,000 |
|
|
Other Receivables |
256,000 |
-76.0 % |
1,067,000 |
197.2 % |
359,000 |
-6.0 % |
382,000 |
2.7 % |
372,000 |
|
|
Cash & Bank Deposits |
1,855,000 |
-7.4 % |
2,003,000 |
62.7 % |
1,231,000 |
133.1 % |
528,000 |
-54.8 % |
1,167,000 |
|
|
Other Current Assets |
-1,000 |
- |
0 |
- |
0 |
100.0 % |
-1,000 |
- |
0 |
|
|
TOTAL CURRENT ASSETS |
17,569,000 |
-3.7 % |
18,250,000 |
13.3 % |
16,102,000 |
26.9 % |
12,687,000 |
29.6 % |
9,789,000 |
|
|
TOTAL ASSETS |
19,646,000 |
-0.6 % |
19,771,000 |
7.5 % |
18,393,000 |
32.4 % |
13,893,000 |
17.1 % |
11,867,000 |
|
|
Trade Creditors |
4,121,000 |
2.3 % |
4,027,000 |
50.9 % |
2,669,000 |
8.8 % |
2,454,000 |
-18.0 % |
2,993,000 |
|
|
Short Term Liabilities to Financial Institutions |
3,714,000 |
6.9 % |
3,473,000 |
-6.5 % |
3,716,000 |
104.1 % |
1,821,000 |
281.8 % |
477,000 |
|
|
Short Term Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Miscellaneous Current Liabilities |
2,298,000 |
28.3 % |
1,791,000 |
-5.0 % |
1,885,000 |
46.0 % |
1,291,000 |
69.2 % |
763,000 |
|
|
TOTAL CURRENT LIABILITIES |
10,133,000 |
9.1 % |
9,291,000 |
12.3 % |
8,270,000 |
48.6 % |
5,566,000 |
31.5 % |
4,233,000 |
|
|
Long Term Liabilities to Financial Institutions |
92,000 |
-37.8 % |
148,000 |
-26.4 % |
201,000 |
-19.6 % |
250,000 |
-15.8 % |
297,000 |
|
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Long Term Pension Commitments |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Long Term Liabilities |
1,314,000 |
-50.3 % |
2,644,000 |
-32.8 % |
3,935,000 |
-4.9 % |
4,138,000 |
-1.6 % |
4,206,000 |
|
|
TOTAL LONG TERM LIABILITIES |
1,406,000 |
-49.6 % |
2,792,000 |
-32.5 % |
4,136,000 |
-5.7 % |
4,388,000 |
-2.6 % |
4,503,000 |
|
|
TOTAL LIABILITIES |
11,538,000 |
-4.5 % |
12,083,000 |
-2.6 % |
12,406,000 |
24.6 % |
9,954,000 |
13.9 % |
8,736,000 |
|
|
Share Capital |
1,000,000 |
0.0 % |
1,000,000 |
0.0 % |
1,000,000 |
0.0 % |
1,000,000 |
0.0 % |
1,000,000 |
|
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Retained Earnings |
7,108,000 |
6.3 % |
6,688,000 |
34.1 % |
4,987,000 |
69.7 % |
2,939,000 |
38.0 % |
2,130,000 |
|
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
TOTAL EQUITY |
8,108,000 |
5.5 % |
7,688,000 |
28.4 % |
5,987,000 |
52.0 % |
3,939,000 |
25.8 % |
3,130,000 |
Other Financials
|
|
Financial Year |
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Working Capital |
7,436,000 |
-17.0 % |
8,959,000 |
14.4 % |
7,832,000 |
10.0 % |
7,121,000 |
28.2 % |
5,556,000 |
|
|
Net Worth |
7,554,000 |
6.5 % |
7,090,000 |
32.3 % |
5,358,000 |
70.3 % |
3,147,000 |
125.4 % |
1,396,000 |
|
|
Capital Employed |
9,514,000 |
-9.2 % |
10,480,000 |
3.5 % |
10,123,000 |
21.6 % |
8,327,000 |
9.1 % |
7,633,000 |
Ratios
|
|
Financial Year |
2010 |
2009 |
2008 |
2007 |
2006 |
|
|
Pre-Tax Profit Margin |
1.43 |
6.42 |
8.43 |
3.25 |
0.44 |
|
|
Return on Capital Employed |
6.21 |
21.35 |
27.61 |
12.29 |
1.24 |
|
|
Return on Total Assets Employed |
3.01 |
11.32 |
15.20 |
7.36 |
0.80 |
|
|
Return on Net Assets Employed |
7.29 |
29.11 |
46.68 |
25.97 |
3.04 |
|
|
Sales/Net Working Capital |
5.58 |
3.89 |
4.24 |
4.43 |
3.86 |
|
|
Stock Turnover Ratio |
19.86 |
24.91 |
25.51 |
22.65 |
22.95 |
|
|
Debtor Days |
63.58 |
68.01 |
66.55 |
53.73 |
56.79 |
|
|
Creditor Days |
36.27 |
42.16 |
29.37 |
28.42 |
51.00 |
|
|
Current Ratio |
1.73 |
1.96 |
1.95 |
2.28 |
2.31 |
|
|
Liquidity Ratio/Acid Test |
0.92 |
1.03 |
0.92 |
1.00 |
1.15 |
|
|
Current Debt Ratio |
1.25 |
1.21 |
1.38 |
1.41 |
1.35 |
|
|
Solvency Ratio |
41.27 |
38.89 |
32.55 |
28.35 |
26.38 |
|
|
Equity in Percentage |
44.99 |
41.27 |
36.30 |
30.07 |
30.89 |
|
|
Total Debt Ratio |
1.42 |
1.57 |
2.07 |
2.53 |
2.79 |
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Industry
|
Main Industry Code & Description |
Manufacture of bodies (coachwork) for motor vehicles.
manufacture of trailers and semi-trailers |
|
Secondary Industry Code & Description |
- |
|
Other Industry Code & Description |
- |
Event History
|
Date |
Description |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
|
01/11/2011 |
CHANGE OF AUDITOR |
Rating History
No data exist
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
|
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.