MIRA INFORM REPORT

 

 

Report Date :

18.07.2012

 

IDENTIFICATION DETAILS

 

Name :

MARITIME INTERIOR SRL 

 

 

Registered Office :

Celulozei 1A, 810282 Braila, Braila

 

 

Country :

Romania

 

 

Financials (as on) :

2009

 

 

Date of Incorporation :

2006

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Supplies of marine accommodation systems

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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)

Romania

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

  COMPANY REPORTED

 

 

 

 

 

MARITIME INTERIOR SRL 

Principal Address:
Celulozei 1A
810282 Braila
Braila
Romania
Telephone: +40-239-607363, +40-721-534369
Fax: +40-239-607321
Email: romania@marinacc.com
Web: www.marinacc.com

 

 

ICON number: 78087410 
National ID: J9/389/2006 
VAT number: 18646226

 

 

Registration status: 08.05.2006 - registered company
Activity status: 08.05.2006 - active company

 

 

 

Date of Last Research:

16.07.2012

 

 

 

 

 

 

Payment Practices:

No payment experience of any importance is available.
There are no major payment incidents registered between 13-01-2005 - 13-01-2012.

According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 31.03.2012.

 

 

 

Further Rating Information:

Researched company is categorized as a small company.
Turnover volume of RON 18.759.228 in the year 2009 increased by 16,70% compared with 2008. In the previous period this change was 786,90%.

Working capital of RON 4.649.573 increased for 35,57% compared with the last period.

 

 

 

Debt Collection:

There is no record of any debt collection action by Coface Romania Credit Management Services SRL against this company exceeding a single case volume of EUR 500.

 

 

 

 

 

 

  COMPANY DETAILS

 

 

 

 

Established:

2006

 

 

 

Registration:

No. J9/389/2006 
08.05.2006 
Braila, Romania

 

 

Legal Form:

Limited Liability Company

 

 

Capital:

Nominal capital:

 

RON 70.000,00

Number of Ordinary shares:

700

 

Value per share of Ordinary shares:

RON 100,00

 

 

Paid-up capital:

 

RON 70.000,00

 

 

 

 

Shareholders:

Full Name

Function

Address

Equity capital

MARINACC AS
Registration: Norway

Shareholder

BYGSTAD
Norway

85,00%
595 Ordinary shares

STOFRING MAGNE HERBJORN

Shareholder

Norway

15,00%
105 Ordinary shares

 

 

Management:

Full Name

Function

Address

STOFRING MAGNE HERBJORN
12.04.2006 - Present

Managing director

Norway



STOFRING MAGNE HERBJORN is registered both as shareholder and administrator within MAST CONSULTING SRL, J9/548/2007.

 

 

 

Related Companies:

affiliate
MAST CONSULTING SRL , Romania , National ID: J9/548/2007

Maritime Interior is member of Maritime Montering AS Norway with 100% norvegian capital which offer complete solutions in accomodation for ships.

 

 

 

 

 

 

  KEY DATA ON OPERATIONS

 

 

 

 

Subject of Operation:

NACE
  4332 Joinery installation


The subject company supplies marine accommodation systems. Equipments, tools and accessories.
NACE codes given are based on the most recent NACE Revision 2.

The company is active in the sector 'Construction'.

 

 

 

Company Development:

0: Development cannot be determined by outside parties

 

 

 

Key Data: 

Amounts shown in Romanian Leu (New) (RON)

 

2009

2008

2007

2006

Turnover

18.759.228

16.075.064

1.812.509

749.636

Fixed assets

779.902

779.093

266.748

163.880

Equity capital

5.585.231

4.273.500

443.563

347.584

Profit after taxation

2.557.731

3.930.569

95.979

277.584

Operating result - profit

2.981.826

4.583.291

137.988

321.394

 

 

 

 

 

 

Industry average

 

2009

2008

2007

2006

 

2009

2008

2007

2006

Return on assets ( ROA )
Net profit / Total assets

0,28

0,45

0,04

0,23

 

0,03

0,07

 

 

Return on equity ( ROE )
Net profit / Shareholder equity

0,46

0,92

0,22

0,80

 

0,10

0,24

 

 


Industry average values are listed for the NACE branch: 43 - Specialised construction activities

 

 

Workforce:

 

2009

2008

2007

2006

Total workforce

30

26

16

9

 

 

 

 

 

 

  FINANCIAL INFORMATION

 

 

 

 

Financials: 

Amounts shown in Romanian Leu (New) (RON)  

2009

2008

2007

2006

 



BALANCE SHEET

 

FIXED ASSETS

779.902

779.093

266.748

163.880

 

Intangible assets

6.157

9.802

 

 

 

Tangible assets

721.245

716.791

 

 

 

Financial fixed assets

52.500

52.500

 

 

 

CURRENT ASSETS

8.160.585

7.821.631

2.188.204

1.039.508

 

Inventory

1.854.322

1.793.831

786.479

884

 

Claims (receivable)

1.573.692

3.249.775

1.062.121

973.326

 

Liquid assets

4.732.571

2.778.025

339.604

65.298

 

SHORT TERM FINANCIAL INVESTMENTS

0

0

0

 

 

PREPAID EXPENSES

155.756

64.693

83.392

11.582

 

TOTAL ASSETS

9.096.243

8.665.417

2.538.344

1.214.970

 

EQUITY CAPITAL

5.585.231

4.273.500

443.563

347.584

 

Share capital

0

70.000

70.000

70.000

 

Subscribed and paid capital

0

70.000

70.000

70.000

 

Reserves

2.768.569

14.000

14.000

0

 

Short-term liabilities

3.511.012

4.391.917

682.977

553.300

 

Long-term liabilities

0

0

0

0

 

TOTAL DEBTS

3.511.012

4.391.917

682.977

553.300

 

Provisions for risks and charges

0

0

0

0

 

Deferred income

0

0

1.411.804

314.086

 

TOTAL EQUITY AND LIABILITIES

9.096.243

8.665.417

2.538.344

1.214.970

 



PROFIT AND LOSS

 

Turnover

18.759.228

16.075.064

1.812.509

749.636

 

TOTAL INCOME

18.865.283

16.698.907

1.860.857

791.787

 

Operating income

18.759.228

16.590.315

 

 

 

Income from financial transactions (financial income)

106.055

108.592

 

 

 

Extraordinary income

0

0

 

 

 

TOTAL EXPENSES

15.820.365

12.019.658

1.740.951

463.760

 

Operating expenses

15.777.402

12.007.024

 

 

 

Depreciation of non-current assets

249.156

 

 

 

 

Depreciation (impairment) of current assets

0

 

 

 

 

Expenses on financial transactions (financial expenditures)

42.963

12.634

 

 

 

Extraordinary expenses

0

0

 

 

 

Operating result - profit

2.981.826

4.583.291

137.988

321.394

 

Operating result - loss

0

0

0

0

 

Profit on financial transactions (financial profit)

63.092

95.958

0

6.633

 

Loss on financial transactions (financial loss)

0

0

18.082

0

 

Current result - profit

3.044.918

4.679.249

119.906

328.027

 

Current result - loss

0

0

0

0

 

Extraordinary profit

0

0

0

0

 

Extraordinary loss

0

0

0

0

 

Profit before taxation

3.044.918

4.679.249

119.906

328.027

 

Loss before taxation

0

0

0

0

 

Profit after taxation

2.557.731

3.930.569

95.979

277.584

 

Loss after taxation

0

0

0

0

 

Profit tax

487.187

748.680

 

 

 

 

Approximate Exchange Rates:

2011: 4,2379 RON = 1 EUR
2010: 4,2099 RON = 1 EUR
2009: 4,2373 RON = 1 EUR
2008: 3,6827 RON = 1 EUR
2007: 3,332 RON = 1 EUR
2011: 3,0486 RON = 1 USD
2010: 3,1779 RON = 1 USD
2009: 3,0493 RON = 1 USD
2008: 2,5189 RON = 1 USD
2007: 2,4383 RON = 1 USD

 

 

 

Financial Comments:

The company didn't submit the financial statements for 2010 and 2011 to The National Trade Register Office and Ministry of Public Finance.

Effectively from July 1st 2005, the Romanian currency was redenominated so that 10,000 old lei(ROL) will be exchanged for 1 new leu (RON). 
The financial statements of the companies will be published in new currency RON starting with 31.12.2005.
All financials for previous years displayed in the report were converted from ROL to RON.

 

 

Bankers:

RAIFFEISEN BANK SA - Account no. RO40 RZBR 0000 0000 1242 1981
011857 Sector 1, Piata Charles de Gaulle 15

 

 

Ratios: 

 

 

 

 

 

Industry average

 

2009

2008

2007

2006

 

2009

2008

2007

2006

Debt Ratio
(Short-term liabilities + Long-term liabilities) / Total Assets

0,39

0,51

0,27

0,46

 

0,68

0,67

 

 

Quick ratio
(Current assets - Inventory)/Current liabilities

1,80

1,37

2,05

1,88

 

0,91

0,88

 

 

Current ratio ( CR )
Current assets / Current liabilities

2,32

1,78

3,20

1,88

 

1,17

1,13

 

 

Leverage
Long Term Liabilities / Total Equity

0

0

0

0

 

0,59

0,55

 

 

Return on sales ( ROS )
Net profit / Turnover

0,14

0,24

0,05

0,37

 

0,03

0,06

 

 

Return on assets ( ROA )
Net profit / Total assets

0,28

0,45

0,04

0,23

 

0,03

0,07

 

 

Return on equity ( ROE )
Net profit / Shareholder equity

0,46

0,92

0,22

0,80

 

0,10

0,24

 

 

Operating margin, in %
Operating result / Sales

15,90

28,51

7,61

42,87

 

 

 

 

 

Days supply in inventory
(Inventory / Turnover) * No. of days in period

36,08

40,73

158,38

0,43

 

45,99

36,82

 

 

Days sales in receivables
(Receivables / Turnover) * No. of days in period

30,62

73,79

213,89

473,92

 

122,11

96,16

 

 

Days purchase in payables
(Current Liabilities / Turnover) * No. of days in period

68,31

99,72

137,54

269,40

 

177,67

148,34

 

 

Sales to Total Assets
Sales / Total assets

2,06

1,86

0,71

0,62

 

1,04

1,24

 

 

Operating result / Total assets
Operating result / Total assets

0,33

0,53

0,05

0,26

 

 

 

 

 

Cash ratio
Cash / Current liabilities

1,35

0,63

0,50

0,12

 

 

 

 

 

Equity as % of total assets
(Equity capital / Total Assets) * 100

61,40

49,32

17,47

28,61

 

 

 

 

 

Fixed assets as % of total assets
(Fixed assests / Total assets) * 100

8,57

8,99

10,51

13,49

 

 

 

 

 

Receivables as % of current assets
(Receivables / Current assets) * 100

19,28

41,55

48,54

93,63

 

 

 

 

 

Net working capital
Current assets - Short-term liabilities

RON 4.649.573,00

RON 3.429.714,00

RON 1.505.227,00

RON 486.208,00

 

 

 

 

 


Industry average values are listed for the NACE branch: 43 - Specialised construction activities

 

 

  ADDITIONAL INFORMATION

 

 

 

 

Central Register of Right of Liens:

For the subject company, there are 35 in ROMARHIVA - Electronic Archive for Secured Transactions.

 

 

 

Trials records:

According to the Ministry of Justice there are no opened files regarding summon for payment/payment ordinance for the subject company.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.14

UK Pound

1

Rs.86.29

Euro

1

Rs.67.72

 

 

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%)

 

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.