MIRA INFORM REPORT
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Report Date : |
31.07.2012 |
IDENTIFICATION DETAILS
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Name : |
WARTSILA SHIP DESIGN NORWAY AS |
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Registered Office : |
Fitjar, 5419 |
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Country : |
Norway |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1989 |
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Com. Reg. No.: |
951698431 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Subject is engaged in applying physical laws and principles
of engineering in the design, development, and utilization of machines,
materials, instruments, structures, processes, and systems |
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No. of Employees : |
79 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Norway |
A2 |
A2 |
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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 & address
Wartsila Ship Design Norway AS
Fitjar, 5419
Norway
Tel: +47 53 45 70 00
Fax: +47 53 45 70 01
Web: www.wartsila.com
Synthesis
Employees: 79
Company Type: Private Independent
Incorporation Date: 1989
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency:
Norwegian Krone
Annual Sales: 19.9
Net Income: (15.2)
Total Assets: 54.3
Business Description
Wartsila Ship Design Norway AS is primarily engaged in applying physical laws and principles of engineering in the design, development, and utilization of machines, materials, instruments, structures, processes, and systems. The assignments undertaken by these establishments may involve any of the following activities: provision of advice, preparation of feasibility studies, preparation of preliminary and final plans and designs, provision of technical services during the construction or installation phase, inspection and evaluation of engineering projects, and related services.
Industry
Industry Engineering Consultants
ANZSIC 2006: 6923 - Engineering
Design and Engineering Consulting Services
NACE 2002: 7420 -
Architectural and engineering activities and related technical consultancy
NAICS 2002: 54133 -
Engineering Services
UK SIC 2003: 7420 -
Architectural and engineering activities and related technical consultancy
US SIC 1987: 8711 - Engineering
Services
Key Executives
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Name |
Title |
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Ove Herheim Wilhelmsen |
Daglig leder |
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Ranveig F. Ottestad |
Finance Manager |
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Knut Inge Østervold |
Production Director |
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Svein Sandvik |
Manager |
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Arne Birkeland |
Styreleder |
news
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Title |
Date |
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Company briefs |
29-Nov-2011 |
Registered No.(NOR): 951698431
1 - Profit & Loss Item Exchange Rate: USD 1 = NOK 6.047155
2 - Balance Sheet Item Exchange Rate: USD 1 = NOK 5.8125
Corporate Overview
Location
Fitjar, 5419
Norway
Tel: +47 53 45 70 00
Fax: +47 53 45 70 01
Web: www.wartsila.com
Sales NOK(mil): 120.6
Assets NOK(mil): 315.8
Employees: 79
Fiscal Year End: 31-Dec-2010
Industry: Engineering
Consultants
Incorporation Date: 1989
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(NOR): 951698431
Daglig leder: Ove
Herheim Wilhelmsen
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
6924 - Other Specialised Design Services
6923 - Engineering Design and Engineering Consulting Services
NACE 2002 Codes:
7487 - Other business activities not elsewhere classified
7420 - Architectural and engineering activities and related
technical consultancy
NAICS 2002 Codes:
54149 - Other Specialized Design Services
54133 - Engineering Services
US SIC 1987:
8711 - Engineering Services
7389 - Business Services, Not Elsewhere Classified
UK SIC 2003:
74872 - Speciality design activities
7420 - Architectural and engineering activities and related
technical consultancy
Business
Description
Wartsila Ship Design Norway AS is primarily engaged in applying physical laws and principles of engineering in the design, development, and utilization of machines, materials, instruments, structures, processes, and systems. The assignments undertaken by these establishments may involve any of the following activities: provision of advice, preparation of feasibility studies, preparation of preliminary and final plans and designs, provision of technical services during the construction or installation phase, inspection and evaluation of engineering projects, and related services.
More Business
Descriptions
Engineering Services
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Executive report
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Board of Directors |
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Styreleder |
Director/Board Member |
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Executives |
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Daglig leder |
Managing Director |
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Finance Manager |
Finance Executive |
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Production Director |
Product Management Executive |
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Manager |
Manufacturing Executive |
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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 |
19.9 |
37.2 |
111.4 |
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Net Financial Items |
-8.6 |
-0.6 |
2.1 |
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Operating Income |
-8.3 |
-3.3 |
65.6 |
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Income Before Tax |
-16.9 |
-3.9 |
67.7 |
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Net Income |
-15.2 |
-2.9 |
47.7 |
Annual Balance
Sheet
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 |
54.3 |
76.9 |
101.9 |
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Total Liabilities |
49.5 |
55.9 |
52.5 |
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Total Equity |
4.9 |
21.0 |
49.4 |
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 |
-41.42 |
-8.82 |
58.91 |
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Current Ratio |
0.88 |
1.06 |
2.09 |
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Total debt/total equity |
8.99 |
27.27 |
48.49 |
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Return on average equity |
-322.91 |
-15.21 |
77.91 |
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 |
-48.48% |
-62.83% |
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Net Financial Items Percent Change |
-1,252.54% |
-132.85% |
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Operating Results Percent Change |
-142.02% |
-105.56% |
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Profit/Loss Before Tax Percent Change |
-316.66% |
-106.40% |
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Profit/Loss for the Year Percent Change |
-397.68% |
-106.84% |
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Assets Percent Change |
-28.91% |
-37.70% |
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Debts Percent Change |
-11.04% |
-12.05% |
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Equity Capital Percent Change |
-76.56% |
-64.96% |
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Operating Margin Percent Change |
-369.61% |
-114.97% |
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Current Ratio Percent Change |
-16.98% |
-49.28% |
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Debt/Equity Ratio Percent Change |
-67.03% |
-43.76% |
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Retun On Equity Percent Change |
-2,023.01% |
-119.52% |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.44 |
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UK Pound |
1 |
Rs.87.12 |
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Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.