|
Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
TEAMTEC AS |
|
|
|
|
Registered Office : |
Nyvei 41 Tvedestrand 4900 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2010 |
|
|
|
|
Date of Incorporation : |
31.03.1995 |
|
|
|
|
Com. Reg. No.: |
974388472 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Manufacturer of marine incinerators and stripping ejectors |
|
|
|
|
No. of Employees : |
86 |
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 – 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 |
|
Company Name |
TEAMTEC AS |
Company Number |
974388472 |
|
Company name |
TEAMTEC AS |
Company number |
974388472 |
|
Address |
Nyvei 41 |
|
|
|
City |
TVEDESTRAND 4900 |
Legal form |
Limited company |
|
Website address |
E-mail address |
office@teamtec.no |
|
|
Telephone Number
|
00 47 37199800 |
Fax Number |
00 47 37199890 |
|
Registration
date |
31/03/1995 |
Status |
Active |
|
Previous Name |
- |
Share capital |
11,850,000 |
|
Name change date
|
- |
Currency |
- |
|
Activities |
Manufacturer of marine incinerators and stripping ejectors |
Number of
employees |
86 |
|
Address |
City |
Postal Code |
|
Postboks 203 |
TVEDESTRAND |
4902 |
|
Name |
Address |
Function |
|
Sletta VEGĂ…RSHEI 4985 |
General manager/CEO |
|
|
Nyvei 19 TVEDESTRAND 4900 |
Chairman of the board |
|
|
Brattholmneset 53 BRATTVĂ…G 6270 |
Board member(s) |
|
|
SandĂ¥ker GJERSTAD 4980 |
Board member(s) |
|
|
Løchenveien 11 OSLO 0286 |
Board member(s) |
|
|
Fiansvingen TVEDESTRAND 4900 |
Board member(s) |
|
|
GJERSTAD 4980 |
Board member(s) |
|
|
Ă˜sterkleiv 23 TVEDESTRAND 4900 |
Board member(s) |
|
|
SUNDEBRU 4993 |
Deputy board member/substitute |
|
|
Tjennabakken 7 TVEDESTRAND 4900 |
Deputy board member/substitute |
|
|
Lagveien 546 RISĂ˜R 4950 |
Deputy board member/substitute |
|
|
Kastanjeveien 13 BJORBEKK 4824 |
Deputy board member/substitute |
|
|
Sliperiveien 21 GJEVING 4912 |
Deputy board member/substitute |
|
|
Vestervei 90 TVEDESTRAND 4900 |
Deputy board member/substitute |
No negative information
found
|
Share capital |
11,850,000 |
|
Shareholder Name
|
Number of Shares
|
Percentage Share
|
|
TEAMTEC INVEST AS |
120,000 |
100.0 |
Na
|
Company Name |
Company Number |
|
Year to Date |
Sales Revenue |
Profit Before
Tax |
Total Equity |
|
2010 |
188,518,000 |
8,451,000 |
59,289,000 |
|
2009 |
239,087,000 |
15,556,000 |
54,291,000 |
|
2008 |
240,160,000 |
20,059,000 |
53,457,000 |
|
2007 |
215,392,000 |
25,732,000 |
42,964,000 |
|
2006 |
175,042,000 |
26,177,000 |
31,800,000 |
|
Financial Year |
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
Yes |
|
Sales Revenue |
188,518,000 |
-21.2 % |
239,087,000 |
-0.4 % |
240,160,000 |
11.5 % |
215,392,000 |
23.1 % |
175,042,000 |
|
Other operating income |
20,000 |
-98.4 % |
1,266,000 |
- |
0 |
-100.0 % |
9,000 |
-18.2 % |
11,000 |
|
Total Operating Income |
188,538,000 |
-21.6 % |
240,353,000 |
0.1 % |
240,160,000 |
11.5 % |
215,401,000 |
23.0 % |
175,053,000 |
|
Total Operating Expenses |
180,123,000 |
-17.6 % |
218,599,000 |
-1.0 % |
220,849,000 |
16.4 % |
189,769,000 |
27.7 % |
148,641,000 |
|
Operating Profit |
8,414,000 |
-61.3 % |
21,755,000 |
12.7 % |
19,311,000 |
-24.7 % |
25,632,000 |
-3.0 % |
26,412,000 |
|
Wages & Salaries |
53,793,000 |
-10.7 % |
60,231,000 |
-3.1 % |
62,170,000 |
17.3 % |
52,986,000 |
29.5 % |
40,907,000 |
|
Depreciation |
2,896,000 |
70.1 % |
1,703,000 |
-3.6 % |
1,766,000 |
-7.8 % |
1,915,000 |
-18.7 % |
2,355,000 |
|
Financial Income |
1,716,000 |
687.2 % |
218,000 |
-90.2 % |
2,220,000 |
50.1 % |
1,479,000 |
27.3 % |
1,162,000 |
|
Financial Expenses |
1,680,000 |
-73.8 % |
6,416,000 |
335.9 % |
1,472,000 |
6.7 % |
1,379,000 |
-1.2 % |
1,396,000 |
|
Profit Before Tax |
8,451,000 |
-45.7 % |
15,556,000 |
-22.4 % |
20,059,000 |
-22.0 % |
25,732,000 |
-1.7 % |
26,177,000 |
|
Tax |
-2,274,000 |
46.9 % |
-4,282,000 |
24.1 % |
-5,642,000 |
21.2 % |
-7,163,000 |
2.3 % |
-7,329,000 |
|
Profit After Tax |
6,177,000 |
-45.2 % |
11,274,000 |
-21.8 % |
14,417,000 |
-22.4 % |
18,569,000 |
-1.5 % |
18,848,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
0 |
-100.0 % |
5,000,000 |
- |
- |
|
Net Result after Dividends |
6,177,000 |
-45.2 % |
11,274,000 |
-21.8 % |
14,417,000 |
6.2 % |
13,569,000 |
-28.0 % |
18,848,000 |
|
Financial Year |
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
Yes |
|
Land & Buildings |
22,086,000 |
2.8 % |
21,483,000 |
258.2 % |
5,997,000 |
0.7 % |
5,955,000 |
3.2 % |
5,771,000 |
|
Plant & Machinery |
1,268,000 |
-23.0 % |
1,646,000 |
-27.0 % |
2,255,000 |
-9.9 % |
2,502,000 |
- |
0 |
|
Other Tangible Assets |
1,931,000 |
-14.1 % |
2,249,000 |
31.5 % |
1,710,000 |
5.1 % |
1,627,000 |
-53.8 % |
3,518,000 |
|
Total Tangible Assets |
25,285,000 |
-0.4 % |
25,378,000 |
154.7 % |
9,962,000 |
-1.2 % |
10,084,000 |
8.6 % |
9,289,000 |
|
Intangible Assets |
91,000 |
-75.7 % |
375,000 |
21.8 % |
308,000 |
327.8 % |
72,000 |
-60.9 % |
184,000 |
|
Other Fixed Assets |
5,429,000 |
-6.1 % |
5,781,000 |
6.1 % |
5,450,000 |
9.4 % |
4,980,000 |
17.4 % |
4,243,000 |
|
TOTAL FIXED ASSETS |
30,805,000 |
-2.3 % |
31,534,000 |
100.6 % |
15,720,000 |
3.9 % |
15,136,000 |
10.4 % |
13,716,000 |
|
Inventories |
33,566,000 |
-10.7 % |
37,590,000 |
-20.8 % |
47,472,000 |
46.9 % |
32,305,000 |
25.5 % |
25,742,000 |
|
Trade Receivables |
26,171,000 |
-4.3 % |
27,344,000 |
-22.3 % |
35,173,000 |
19.0 % |
29,553,000 |
7.3 % |
27,536,000 |
|
Other Receivables |
6,527,000 |
-8.6 % |
7,142,000 |
37.0 % |
5,215,000 |
-7.6 % |
5,644,000 |
-22.0 % |
7,232,000 |
|
Cash & Bank Deposits |
18,906,000 |
-24.4 % |
25,004,000 |
226.3 % |
7,662,000 |
-69.5 % |
25,125,000 |
-11.2 % |
28,301,000 |
|
Other Current Assets |
-1,000 |
- |
0 |
-100.0 % |
1,000 |
- |
0 |
100.0 % |
-1,000 |
|
TOTAL CURRENT ASSETS |
85,169,000 |
-12.3 % |
97,080,000 |
1.6 % |
95,523,000 |
3.1 % |
92,627,000 |
4.3 % |
88,810,000 |
|
TOTAL ASSETS |
115,973,000 |
-9.8 % |
128,614,000 |
15.6 % |
111,243,000 |
3.2 % |
107,764,000 |
5.1 % |
102,526,000 |
|
Trade Creditors |
16,293,000 |
33.2 % |
12,235,000 |
-14.7 % |
14,348,000 |
-5.1 % |
15,123,000 |
25.3 % |
12,068,000 |
|
Short Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Short Term Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
17,639,000 |
-52.0 % |
36,713,000 |
17.3 % |
31,305,000 |
-15.2 % |
36,914,000 |
-15.2 % |
43,535,000 |
|
TOTAL CURRENT LIABILITIES |
33,932,000 |
-30.7 % |
48,948,000 |
7.2 % |
45,653,000 |
-12.3 % |
52,037,000 |
-6.4 % |
55,603,000 |
|
Long Term Liabilities to Financial Institutions |
21,509,000 |
-10.4 % |
23,998,000 |
115.6 % |
11,131,000 |
-6.1 % |
11,851,000 |
-16.5 % |
14,198,000 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
1,243,000 |
-9.8 % |
1,378,000 |
37.4 % |
1,003,000 |
10.0 % |
912,000 |
-1.5 % |
926,000 |
|
Other Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL LONG TERM LIABILITIES |
22,752,000 |
-10.3 % |
25,376,000 |
109.1 % |
12,134,000 |
-4.9 % |
12,763,000 |
-15.6 % |
15,124,000 |
|
TOTAL LIABILITIES |
56,684,000 |
-23.7 % |
74,324,000 |
28.6 % |
57,786,000 |
-10.8 % |
64,799,000 |
-8.4 % |
70,726,000 |
|
Share Capital |
12,000,000 |
0.0 % |
12,000,000 |
0.0 % |
12,000,000 |
0.0 % |
12,000,000 |
0.0 % |
12,000,000 |
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
47,289,000 |
11.8 % |
42,291,000 |
2.0 % |
41,457,000 |
33.9 % |
30,964,000 |
56.4 % |
19,800,000 |
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
59,289,000 |
9.2 % |
54,291,000 |
1.6 % |
53,457,000 |
24.4 % |
42,964,000 |
35.1 % |
31,800,000 |
|
Financial Year |
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
Total Exports |
188,519,000 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working Capital |
51,237,000 |
6.5 % |
48,132,000 |
-3.5 % |
49,870,000 |
22.9 % |
40,590,000 |
22.2 % |
33,207,000 |
|
Net Worth |
59,198,000 |
9.8 % |
53,916,000 |
1.4 % |
53,149,000 |
23.9 % |
42,892,000 |
35.7 % |
31,616,000 |
|
Capital Employed |
82,041,000 |
3.0 % |
79,667,000 |
21.5 % |
65,591,000 |
17.7 % |
55,727,000 |
18.8 % |
46,924,000 |
|
Financial Year |
2010 |
2009 |
2008 |
2007 |
2006 |
|
Pre-Tax Profit Margin |
4.48 |
6.51 |
8.35 |
11.95 |
14.95 |
|
Return on Capital Employed |
10.30 |
19.53 |
30.58 |
46.18 |
55.79 |
|
Return on Total Assets Employed |
7.29 |
12.10 |
18.03 |
23.88 |
25.53 |
|
Return on Net Assets Employed |
14.25 |
28.65 |
37.52 |
59.89 |
82.32 |
|
Sales/Net Working Capital |
3.68 |
4.97 |
4.82 |
5.31 |
5.27 |
|
Stock Turnover Ratio |
17.81 |
15.72 |
19.77 |
15.00 |
14.71 |
|
Debtor Days |
50.67 |
41.74 |
53.46 |
50.08 |
57.42 |
|
Creditor Days |
31.55 |
18.68 |
21.81 |
25.63 |
25.16 |
|
Current Ratio |
2.51 |
1.98 |
2.09 |
1.78 |
1.60 |
|
Liquidity Ratio/Acid Test |
1.52 |
1.22 |
1.05 |
1.16 |
1.13 |
|
Current Debt Ratio |
0.57 |
0.90 |
0.85 |
1.21 |
1.75 |
|
Solvency Ratio |
51.12 |
42.21 |
48.05 |
39.87 |
31.02 |
|
Equity in Percentage |
53.68 |
44.33 |
50.68 |
41.83 |
32.42 |
|
Total Debt Ratio |
0.96 |
1.37 |
1.08 |
1.51 |
2.22 |
Na
|
Number of
employees |
86 |
|
Date |
Description |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
|
19/11/2011 |
CHANGE OF BOARD OF DIRECTORS |
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.86 |
|
|
1 |
Rs.87.93 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.