MIRA
INFORM REPORT
|
Report Date : |
21.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
NORDIAN AS |
|
|
|
|
Registered Office : |
NORDIAN MEDIA AS, Klinestadmoen 1, SANDEFJORD 3241 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
23.12.2006 |
|
|
|
|
Com. Reg. No.: |
990643296 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Service activities incidental to air transportation |
|
|
|
|
No. of Employees : |
4 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Norway |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
norway - ECONOMIC OVERVIEW
The Norwegian
economy is a prosperous mixed economy, with a vibrant private sector, a large state
sector, and an extensive social safety net. The government controls key areas,
such as the vital petroleum sector, through extensive regulation and
large-scale state-majority-owned enterprises. The country is richly endowed
with natural resources - petroleum, hydropower, fish, forests, and minerals -
and is highly dependent on the petroleum sector, which accounts for the largest
portion of export revenue and about 20% of government revenue. Norway is the
world's second-largest gas exporter; and seventh largest oil exporter, making
one of its largest offshore oil finds in 2011. Norway opted to stay out of the
EU during a referendum in November 1994; nonetheless, as a member of the
European Economic Area, it contributes sizably to the EU budget. In anticipation
of eventual declines in oil and gas production, Norway saves state revenue from
the petroleum sector in the world's second largest sovereign wealth fund,
valued at over $500 billion in 2011 and uses the fund's return to help finance
public expenses. After solid GDP growth in 2004-07, the economy slowed in 2008,
and contracted in 2009, before returning to positive growth in 2010-11,
however, the government budget is set to remain in surplus.
REGISTERED NAME & COMPANY SUMMARY
|
Company Name |
NORDIAN AS |
Company Number |
990643296 |
|
Company name |
NORDIAN AS |
Company number |
990643296 |
|
Address |
Klinestadmoen 1 |
|
|
|
City |
SANDEFJORD 3241 |
Legal form |
Limited company |
|
Website address |
E-mail address |
- |
|
|
Telephone Number |
00 47 33423660 |
Fax Number |
00 47 33423661 |
|
Registration date |
23/12/2006 |
Status |
Active |
|
Previous Name |
NORDIAN MEDIA AS |
Share capital |
100,000 |
|
Name change date |
25/12/2006 |
Currency |
- |
|
|
|
Number of employees |
4 |
DIRECTORS/MANAGEMENT
Current Directors
|
Name |
Address |
Function |
|
Fløyasletta 24 SANDEFJORD
3235 |
General manager/CEO |
|
|
Fløyasletta 24 SANDEFJORD
3235 |
Chairman of the board |
|
|
Telthusveien 11 SANDNES 4319 |
Board member(s) |
|
|
Sandslihovden 23 SANDSLI 5254
|
Deputy board
member/substitute |
Other Company Officials
No data exist
NEGATIVE INFORMATION
No negative information found.
SHARE & SHARE CAPITAL
INFORMATION
Shareholders
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
SELJESTAD AS |
1,000 |
100.0 |
PAYMENT INFORMATION
N/a
GROUP STRUCTURE & AFFILIATED
COMPANIES
Ultimate Holding Company
|
Safe Number |
Company Name |
|
Company Number |
|
|
|
|
FINANCIAL INFORMATION
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2011 |
4,913,000 |
631,000 |
1,125,000 |
|
2010 |
3,781,000 |
-955,000 |
493,000 |
|
2009 |
5,341,000 |
359,000 |
1,448,000 |
|
2008 |
5,457,000 |
968,000 |
1,089,000 |
|
2007 |
58,000 |
24,000 |
121,000 |
Profit & Loss Account
|
|
Financial Year |
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
|
Sales Revenue |
4,913,000 |
29.9 % |
3,781,000 |
-29.2 % |
5,341,000 |
-2.1 % |
5,457,000 |
9,308.6 % |
58,000 |
|
|
Other operating income |
0 |
- |
0 |
- |
0 |
-100.0 % |
42,000 |
- |
0 |
|
|
Total Operating Income |
4,913,000 |
29.9 % |
3,781,000 |
-29.2 % |
5,341,000 |
-2.9 % |
5,499,000 |
9,381.0 % |
58,000 |
|
|
Total Operating Expenses |
4,143,000 |
-10.6 % |
4,632,000 |
-7.6 % |
5,012,000 |
4.5 % |
4,798,000 |
14,011.8 % |
34,000 |
|
|
Operating Profit |
770,000 |
190.5 % |
-851,000 |
-357.9 % |
330,000 |
-52.9 % |
701,000 |
2,820.8 % |
24,000 |
|
|
Wages & Salaries |
1,493,000 |
-24.1 % |
1,966,000 |
-3.2 % |
2,030,000 |
25.3 % |
1,620,000 |
5,125.8 % |
31,000 |
|
|
Depreciation |
4,000 |
-81.0 % |
21,000 |
0.0 % |
21,000 |
23.5 % |
17,000 |
- |
0 |
|
|
Financial Income |
11,000 |
-69.4 % |
36,000 |
-92.8 % |
503,000 |
22.4 % |
411,000 |
- |
0 |
|
|
Financial Expenses |
150,000 |
7.1 % |
140,000 |
-70.4 % |
473,000 |
228.5 % |
144,000 |
- |
0 |
|
|
Profit Before Tax |
631,000 |
166.1 % |
-955,000 |
-366.0 % |
359,000 |
-62.9 % |
968,000 |
3,933.3 % |
24,000 |
|
|
Tax |
0 |
- |
0 |
- |
0 |
- |
0 |
100.0 % |
-3,000 |
|
|
Profit After Tax |
631,000 |
166.1 % |
-955,000 |
-366.0 % |
359,000 |
-62.9 % |
968,000 |
4,509.5 % |
21,000 |
|
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Net Result after Dividends |
631,000 |
166.1 % |
-955,000 |
-366.0 % |
359,000 |
-62.9 % |
968,000 |
4,509.5 % |
21,000 |
![[ghyper]](NORDIAN%20AS%20-%20200353%2021-Nov-2012_files/image002.gif){kind=small}
Balance Sheet
|
|
Financial Year |
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
|
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 |
0 |
-100.0 % |
4,000 |
-84.0 % |
25,000 |
-45.7 % |
46,000 |
- |
0 |
|
|
Total Tangible Assets |
0 |
-100.0 % |
4,000 |
-84.0 % |
25,000 |
-45.7 % |
46,000 |
- |
0 |
|
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Fixed Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
TOTAL FIXED ASSETS |
0 |
-100.0 % |
4,000 |
-84.0 % |
25,000 |
-45.7 % |
46,000 |
- |
0 |
|
|
Inventories |
680,000 |
-37.0 % |
1,080,000 |
62.2 % |
666,000 |
15.2 % |
578,000 |
- |
0 |
|
|
Trade Receivables |
779,000 |
-20.0 % |
974,000 |
29.7 % |
751,000 |
-49.8 % |
1,495,000 |
- |
0 |
|
|
Other Receivables |
107,000 |
-55.4 % |
240,000 |
224.3 % |
74,000 |
-28.8 % |
104,000 |
- |
0 |
|
|
Cash & Bank Deposits |
2,187,000 |
14.6 % |
1,908,000 |
-37.3 % |
3,045,000 |
5.1 % |
2,897,000 |
2,061.9 % |
134,000 |
|
|
Other Current Assets |
1,000 |
0.0 % |
1,000 |
- |
0 |
- |
0 |
- |
0 |
|
|
TOTAL CURRENT ASSETS |
3,754,000 |
-10.7 % |
4,203,000 |
-7.3 % |
4,536,000 |
-10.6 % |
5,074,000 |
3,686.6 % |
134,000 |
|
|
TOTAL ASSETS |
3,754,000 |
-10.8 % |
4,207,000 |
-7.8 % |
4,561,000 |
-10.9 % |
5,120,000 |
3,720.9 % |
134,000 |
|
|
Trade Creditors |
93,000 |
-39.2 % |
153,000 |
4.8 % |
146,000 |
-21.9 % |
187,000 |
- |
0 |
|
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 |
436,000 |
-58.4 % |
1,048,000 |
2.8 % |
1,019,000 |
-34.7 % |
1,560,000 |
11,042.9 % |
14,000 |
|
|
TOTAL CURRENT LIABILITIES |
529,000 |
-56.0 % |
1,201,000 |
3.1 % |
1,165,000 |
-33.3 % |
1,747,000 |
12,378.6 % |
14,000 |
|
|
Long Term Liabilities to
Financial Institutions |
281,000 |
-53.2 % |
600,000 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Long Term Loans |
400,000 |
-20.0 % |
500,000 |
0.0 % |
500,000 |
- |
0 |
- |
0 |
|
|
Long Term Pension Commitments
|
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Long Term Liabilities |
1,418,000 |
0.4 % |
1,413,000 |
-2.4 % |
1,448,000 |
-36.6 % |
2,283,000 |
- |
0 |
|
|
TOTAL LONG TERM LIABILITIES |
2,099,000 |
-16.5 % |
2,513,000 |
29.0 % |
1,948,000 |
-14.7 % |
2,283,000 |
- |
0 |
|
|
TOTAL LIABILITIES |
2,629,000 |
-29.2 % |
3,714,000 |
19.3 % |
3,113,000 |
-22.8 % |
4,031,000 |
28,692.9 % |
14,000 |
|
|
Share Capital |
100,000 |
0.0 % |
100,000 |
0.0 % |
100,000 |
0.0 % |
100,000 |
0.0 % |
100,000 |
|
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Retained Earnings |
1,025,000 |
160.8 % |
393,000 |
-70.8 % |
1,348,000 |
36.3 % |
989,000 |
4,609.5 % |
21,000 |
|
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
TOTAL EQUITY |
1,125,000 |
128.2 % |
493,000 |
-66.0 % |
1,448,000 |
33.0 % |
1,089,000 |
800.0 % |
121,000 |
Other Financials
|
|
Financial Year |
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Working Capital |
3,225,000 |
7.4 % |
3,002,000 |
-10.9 % |
3,371,000 |
1.3 % |
3,327,000 |
2,672.5 % |
120,000 |
|
|
Net Worth |
1,125,000 |
128.2 % |
493,000 |
-66.0 % |
1,448,000 |
33.0 % |
1,089,000 |
800.0 % |
121,000 |
|
|
Capital Employed |
3,224,000 |
7.3 % |
3,006,000 |
-11.5 % |
3,396,000 |
0.7 % |
3,372,000 |
2,686.8 % |
121,000 |
Ratios
|
|
Financial Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
|
Pre-Tax Profit Margin |
12.84 |
-25.26 |
6.72 |
17.74 |
41.38 |
|
|
Return on Capital Employed |
19.57 |
-31.77 |
10.57 |
28.71 |
19.83 |
|
Return on Total Assets
Employed |
16.81 |
-22.70 |
7.87 |
18.91 |
17.91 |
|
|
Return on Net Assets Employed
|
56.09 |
-193.71 |
24.79 |
88.89 |
19.83 |
|
|
|
Sales/Net Working Capital |
1.52 |
1.26 |
1.58 |
1.64 |
0.48 |
|
|
Stock Turnover Ratio |
13.84 |
28.56 |
12.47 |
10.59 |
0.00 |
|
|
Debtor Days |
57.87 |
94.03 |
51.32 |
100.00 |
- |
|
|
Creditor Days |
6.91 |
14.77 |
9.98 |
12.51 |
- |
|
|
Current Ratio |
7.10 |
3.50 |
3.89 |
2.90 |
9.57 |
|
|
Liquidity Ratio/Acid Test |
5.81 |
2.60 |
3.32 |
2.57 |
9.57 |
|
|
Current Debt Ratio |
0.47 |
2.44 |
0.80 |
1.60 |
0.12 |
|
|
Solvency Ratio |
29.97 |
11.72 |
31.75 |
21.27 |
90.30 |
|
|
Equity in Percentage |
29.97 |
11.72 |
31.75 |
21.27 |
90.30 |
|
|
Total Debt Ratio |
2.34 |
7.53 |
2.15 |
3.70 |
0.12 |
FOREIGN EXCHANGE RATES
N/a
ADDITIONAL INFORMATION
Industry
|
Main Industry Code &
Description |
Service activities incidental
to air transportation |
|
Secondary Industry Code &
Description |
- |
|
Other Industry Code &
Description |
- |
Event History
|
Date |
Description |
|
03/09/2012 |
Limit Change |
|
03/09/2012 |
Rating Change |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
Rating History
No data exist
NOTES & COMMENTS
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.91 |
|
|
1 |
Rs.87.38 |
|
Euro |
1 |
Rs.70.23 |
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.