|
Report Date : |
07.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
COMEX AS
|
|
|
|
|
Registered Office : |
Olav Ingstads Vei 5 , Rud 1351 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2010 |
|
|
|
|
Date of Incorporation : |
13.03.2003 |
|
|
|
|
Com. Reg. No.: |
985463913 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Subject delivers industrial system solutions and processing equipment for sophisticated and demanding applications. The main core activities are related to the technologies for production and classification of fine powders and optical separation of larger particles |
|
|
|
|
No. of Employees : |
01 |
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 |
|
Company Name |
COMEX AS |
Company Number |
985463913 |
|
Company name |
COMEX AS |
Company number |
985463913 |
|
Address |
Olav Ingstads vei 5 |
|
|
|
City |
RUD 1351 |
Legal form |
Limited company |
|
Website address |
E-mail address |
||
|
Telephone Number |
- |
Fax Number |
92573665 |
|
Registration date |
13/03/2003 |
Status |
Active |
|
Previous Name |
- |
Share capital |
147,980 |
|
Name change date |
- |
Currency |
- |
|
|
|
Number of employees |
1 |
Postal Address
|
Address |
City |
Postal Code |
|
Postboks 53 |
RUD |
1309 |
|
Name |
Address |
Function |
|
Kolacz, Jacek |
SleiverudĂ¥sen 94 BÆRUMS VERK 1354 |
General manager/CEO |
|
Foss, Jan Erik |
Stokkanhaugen 71 TRONDHEIM 7048 |
Chairman of the board |
|
Solberg, Lars Steffen |
Hasselbakkvegen 15 B RANHEIM 7053 |
Board member(s) |
|
Sandvik, Knut Lyng |
Søbstadvegen 27 B HEIMDAL 7088 |
Board member(s) |
No negative information found
Shareholders
|
Shareholder Name
|
Number of Shares
|
Percentage Share
|
|
LEIV EIRIKSSON NYSKAPING AS |
47,980 |
32.4 |
|
SINTEF-GRUPPEN VENTURE AS |
38,000 |
25.7 |
|
SĂ…KORNINVEST MIDT-NORGE AS |
32,000 |
21.6 |
|
JACEK KOLACZ |
30,000 |
20.3 |
Na
Ultimate Holding
Company
|
Company Name |
|
Company Number |
|
|
COMEX AS |
|
985463913 |
|
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before
Tax |
Total Equity |
|
2010 |
11,789,000 |
787,000 |
6,520,000 |
|
2009 |
19,445,000 |
1,877,000 |
5,781,000 |
|
2008 |
15,066,000 |
333,000 |
4,228,000 |
|
2007 |
8,503,000 |
540,000 |
3,763,000 |
|
2006 |
7,768,000 |
547,000 |
3,230,000 |
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 |
11,789,000 |
-39.4 % |
19,445,000 |
29.1 % |
15,066,000 |
77.2 % |
8,503,000 |
9.5 % |
7,768,000 |
|
Other operating income |
0 |
- |
0 |
- |
0 |
- |
0 |
-100.0 % |
1,000 |
|
Total Operating Income |
11,789,000 |
-39.4 % |
19,445,000 |
29.1 % |
15,066,000 |
77.2 % |
8,503,000 |
9.4 % |
7,769,000 |
|
Total Operating Expenses |
10,855,000 |
-36.8 % |
17,172,000 |
14.7 % |
14,971,000 |
87.2 % |
7,998,000 |
10.5 % |
7,237,000 |
|
Operating Profit |
934,000 |
-58.9 % |
2,273,000 |
2,292.6 % |
95,000 |
-81.2 % |
505,000 |
-5.1 % |
532,000 |
|
Wages & Salaries |
1,665,000 |
13.4 % |
1,468,000 |
24.0 % |
1,184,000 |
10.2 % |
1,074,000 |
4.8 % |
1,025,000 |
|
Depreciation |
1,000 |
-99.3 % |
142,000 |
-7.2 % |
153,000 |
0.0 % |
153,000 |
0.0 % |
153,000 |
|
Financial Income |
331,000 |
44.5 % |
229,000 |
-27.5 % |
316,000 |
201.0 % |
105,000 |
29.6 % |
81,000 |
|
Financial Expenses |
478,000 |
-23.5 % |
625,000 |
701.3 % |
78,000 |
11.4 % |
70,000 |
4.5 % |
67,000 |
|
Profit Before Tax |
787,000 |
-58.1 % |
1,877,000 |
463.7 % |
333,000 |
-38.3 % |
540,000 |
-1.3 % |
547,000 |
|
Tax |
-47,000 |
85.5 % |
-324,000 |
-347.3 % |
131,000 |
2,283.3 % |
-6,000 |
-250.0 % |
4,000 |
|
Profit After Tax |
740,000 |
-52.4 % |
1,553,000 |
234.7 % |
464,000 |
-13.1 % |
534,000 |
-3.1 % |
551,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Result after Dividends |
740,000 |
-52.4 % |
1,553,000 |
234.7 % |
464,000 |
-13.1 % |
534,000 |
-3.1 % |
551,000 |
Balance Sheet
|
Financial Year |
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Land & Buildings |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Plant & Machinery |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Tangible Assets |
36,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Tangible Assets |
36,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Intangible Assets |
0 |
- |
0 |
-100.0 % |
260,000 |
-11.6 % |
294,000 |
-34.2 % |
447,000 |
|
Other Fixed Assets |
107,000 |
0.0 % |
107,000 |
-0.9 % |
108,000 |
0.0 % |
108,000 |
- |
0 |
|
TOTAL FIXED ASSETS |
143,000 |
33.6 % |
107,000 |
-70.9 % |
368,000 |
-8.5 % |
402,000 |
-10.1 % |
447,000 |
|
Inventories |
10,000 |
-99.7 % |
3,046,000 |
5,992.0 % |
50,000 |
-88.3 % |
429,000 |
- |
0 |
|
Trade Receivables |
1,123,000 |
-65.7 % |
3,274,000 |
177.7 % |
1,179,000 |
101.2 % |
586,000 |
-10.4 % |
654,000 |
|
Other Receivables |
1,670,000 |
68.7 % |
990,000 |
19.9 % |
826,000 |
23.8 % |
667,000 |
-23.0 % |
866,000 |
|
Cash & Bank Deposits |
5,551,000 |
32.9 % |
4,176,000 |
-1.6 % |
4,244,000 |
53.4 % |
2,767,000 |
61.5 % |
1,713,000 |
|
Other Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL CURRENT ASSETS |
8,354,000 |
-27.3 % |
11,486,000 |
82.3 % |
6,299,000 |
41.6 % |
4,449,000 |
37.6 % |
3,233,000 |
|
TOTAL ASSETS |
8,497,000 |
-26.7 % |
11,593,000 |
73.9 % |
6,666,000 |
37.4 % |
4,851,000 |
31.8 % |
3,680,000 |
|
Trade Creditors |
344,000 |
-62.0 % |
906,000 |
337.7 % |
207,000 |
-70.1 % |
692,000 |
540.7 % |
108,000 |
|
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 |
1,630,000 |
-66.8 % |
4,906,000 |
119.9 % |
2,231,000 |
482.5 % |
383,000 |
14.3 % |
335,000 |
|
TOTAL CURRENT LIABILITIES |
1,974,000 |
-66.0 % |
5,812,000 |
138.4 % |
2,438,000 |
126.8 % |
1,075,000 |
142.7 % |
443,000 |
|
Long Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Liabilities |
3,000 |
- |
0 |
- |
0 |
-100.0 % |
12,000 |
100.0 % |
6,000 |
|
TOTAL LONG TERM LIABILITIES |
3,000 |
- |
0 |
- |
0 |
-100.0 % |
12,000 |
100.0 % |
6,000 |
|
TOTAL LIABILITIES |
1,977,000 |
-66.0 % |
5,812,000 |
138.4 % |
2,438,000 |
124.3 % |
1,087,000 |
141.6 % |
450,000 |
|
Share Capital |
148,000 |
0.0 % |
148,000 |
0.0 % |
148,000 |
0.0 % |
148,000 |
0.0 % |
148,000 |
|
Share Premium Reserve |
1,020,000 |
0.0 % |
1,020,000 |
0.0 % |
1,020,000 |
0.0 % |
1,020,000 |
0.0 % |
1,020,000 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
5,353,000 |
16.0 % |
4,613,000 |
50.8 % |
3,060,000 |
17.9 % |
2,596,000 |
25.9 % |
2,062,000 |
|
Other Reserves |
-1,000 |
- |
0 |
- |
0 |
100.0 % |
-1,000 |
- |
0 |
|
TOTAL EQUITY |
6,520,000 |
12.8 % |
5,781,000 |
36.7 % |
4,228,000 |
12.4 % |
3,763,000 |
16.5 % |
3,230,000 |
Other Financials
|
Financial Year |
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working Capital |
6,380,000 |
12.4 % |
5,674,000 |
47.0 % |
3,861,000 |
14.4 % |
3,374,000 |
20.9 % |
2,790,000 |
|
Net Worth |
6,520,000 |
12.8 % |
5,781,000 |
45.7 % |
3,968,000 |
14.4 % |
3,469,000 |
24.6 % |
2,783,000 |
|
Capital Employed |
6,523,000 |
12.8 % |
5,781,000 |
36.7 % |
4,228,000 |
12.0 % |
3,775,000 |
16.7 % |
3,236,000 |
Ratios
|
Financial Year |
2010 |
2009 |
2008 |
2007 |
2006 |
|
Pre-Tax Profit Margin |
6.68 |
9.65 |
2.21 |
6.35 |
7.04 |
|
Return on Capital Employed |
12.07 |
32.47 |
7.88 |
14.30 |
16.90 |
|
Return on Total Assets Employed |
9.26 |
16.19 |
5.00 |
11.13 |
14.86 |
|
Return on Net Assets Employed |
12.07 |
32.47 |
7.88 |
14.35 |
16.93 |
|
Sales/Net Working Capital |
1.85 |
3.43 |
3.90 |
2.52 |
2.78 |
|
Stock Turnover Ratio |
0.08 |
15.66 |
0.33 |
5.05 |
0.00 |
|
Debtor Days |
34.77 |
61.46 |
28.56 |
25.15 |
30.73 |
|
Creditor Days |
10.65 |
17.01 |
5.01 |
29.70 |
5.07 |
|
Current Ratio |
4.23 |
1.98 |
2.58 |
4.14 |
7.30 |
|
Liquidity Ratio/Acid Test |
4.23 |
1.45 |
2.56 |
3.74 |
7.30 |
|
Current Debt Ratio |
0.30 |
1.01 |
0.58 |
0.29 |
0.14 |
|
Solvency Ratio |
76.73 |
49.87 |
63.43 |
77.57 |
87.77 |
|
Equity in Percentage |
77.71 |
50.33 |
67.12 |
84.58 |
99.91 |
|
Total Debt Ratio |
0.30 |
1.01 |
0.58 |
0.29 |
0.14 |
Na
Other Company
Officials
|
Name |
Address |
Function |
|
IHS REVISJON & REGNSKAP INGE STIKHOLMEN |
Munins vei 1 RYKKINN 1348 |
Accountant |
Event History
|
Date |
Description |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
|
12/09/2011 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.72 |
|
UK Pound |
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.65 |
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.