|
Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ROLLS-ROYCE MARINE AS |
|
|
|
|
Formerly Known As : |
VICKERS ULSTEIN MARINE SYSTEMS AS |
|
|
|
|
Registered Office : |
Sjogata 80 Ulsteinvik 6065 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
16.12.1998 |
|
|
|
|
Com. Reg. No.: |
980371379 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of marine lifting and handling equipment |
|
|
|
|
No. of Employees : |
2,452 |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 third-largest natural 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 $700 billion in January 2013 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 2010-12, however, the government budget is set to remain in surplus.
]Source : CIA
NOTE:
Rolls- Royce Marine as Steering Gears-Frydenbo is a branch and the financials are filed under Rolls-Royce Marine AS.
|
Company name |
ROLLS-ROYCE MARINE AS |
Company number |
980371379 |
|
Address |
Sjogata 80 |
|
|
|
City |
ULSTEINVIK 6065 |
Legal form |
Limited company |
|
Website address |
|
E-mail address |
- |
|
Telephone Number |
00 47 70014000 |
Fax Number |
00 47 70014001 |
|
Registration date |
16/12/1998 |
Status |
Active |
|
Previous Name |
VICKERS ULSTEIN MARINE SYSTEMS AS |
Share capital |
477,576,758 |
|
Name change date |
26/01/2000 |
Currency |
- |
|
|
|
Number of employees |
2,452 |
|
Address |
City |
Postal Code |
|
Postboks 1522 |
Ă…LESUND |
6025 |
|
Company Name |
|
|
|
|
Year to Date |
Sales Revenue |
Profit Before
Tax |
Total Equity |
|
2011 |
67,563,633,038 |
-1,085,630,659 |
26,408,570,383 |
|
2010 |
12,934,617,000 |
503,954,000 |
3,746,171,000 |
|
2009 |
11,976,056,000 |
518,339,000 |
3,425,484,000 |
|
2008 |
10,803,016,000 |
459,774,000 |
3,054,495,000 |
|
2007 |
8,169,050,000 |
34,802,000 |
2,729,030,000 |
|
Main Industry
Code & Description |
Manufacture of marine lifting and handling equipment |
|
Secondary
Industry Code & Description |
Manufacture of other fabricated metal products n.e.c. |
|
Other Industry
Code & Description |
Manufacture of other electrical equipment |
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
VINTERS INTERNATIONAL LTD |
4,776 |
100.0 |
|
Name |
Address |
Function |
|
Einarvikgata 5 Ă…LESUND 6002 |
General manager/CEO |
|
|
65 Buckingham Gate GB- SW1E6AT London |
Chairman of the board |
|
|
Dimnasund ULSTEINVIK 6065 |
Board member(s) |
|
|
Synesrema 105 VIGRA 6040 |
Board member(s) |
|
|
Kvievegen 12 HADDAL 6064 |
Board member(s) |
|
|
LONGVA 6293 |
Board member(s) |
|
|
SlalĂ¥mveien 9 OSLO 0380 |
Board member(s) |
|
|
Holmsildgata 16 FOSNAVĂ…G 6090 |
Board member(s) |
|
|
Einarvikgata 5 Ă…LESUND 6002 |
Board member(s) |
No data exist
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Sales Revenue |
67,563,633,038 |
422.3 % |
12,934,617,000 |
8.0 % |
11,976,056,000 |
10.9 % |
10,803,016,000 |
32.2 % |
8,169,050,000 |
|
Other operating income |
341,114,058 |
355.1 % |
-133,742,000 |
-1,465.1 % |
9,797,000 |
67.3 % |
5,857,000 |
-42.8 % |
10,234,000 |
|
Total Operating Income |
67,904,747,096 |
430.5 % |
12,800,875,000 |
6.8 % |
11,985,853,000 |
10.9 % |
10,808,873,000 |
32.1 % |
8,179,284,000 |
|
Total Operating Expenses |
68,922,427,513 |
464.1 % |
12,218,613,000 |
8.2 % |
11,295,327,000 |
9.5 % |
10,312,914,000 |
27.1 % |
8,111,521,000 |
|
Operating Profit |
-1,017,680,417 |
-274.8 % |
582,262,000 |
-15.7 % |
690,526,000 |
39.2 % |
495,959,000 |
631.9 % |
67,763,000 |
|
Wages & Salaries |
16,264,236,715 |
695.8 % |
2,043,759,000 |
12.6 % |
1,814,850,000 |
3.8 % |
1,747,681,000 |
14.0 % |
1,533,363,000 |
|
Depreciation |
3,209,347,846 |
741.7 % |
381,307,000 |
97.1 % |
193,425,000 |
-11.0 % |
217,276,000 |
18.8 % |
182,947,000 |
|
Financial Income |
2,334,034,574 |
971.5 % |
217,836,000 |
-6.8 % |
233,738,000 |
53.1 % |
152,642,000 |
73.0 % |
88,212,000 |
|
Financial Expenses |
2,401,984,817 |
711.1 % |
296,144,000 |
-27.0 % |
405,925,000 |
115.0 % |
188,827,000 |
55.8 % |
121,173,000 |
|
Profit Before Tax |
-1,085,630,659 |
-315.4 % |
503,954,000 |
-2.8 % |
518,339,000 |
12.7 % |
459,774,000 |
1,221.1 % |
34,802,000 |
|
Tax |
-138,452,392 |
24.5 % |
-183,403,000 |
-24.5 % |
-147,350,000 |
-9.7 % |
-134,308,000 |
-977.6 % |
-12,464,000 |
|
Profit After Tax |
-1,224,083,051 |
-481.9 % |
320,551,000 |
-13.6 % |
370,989,000 |
14.0 % |
325,466,000 |
1,357.0 % |
22,338,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Result after Dividends |
-1,224,083,051 |
-481.9 % |
320,551,000 |
-13.6 % |
370,989,000 |
14.0 % |
325,466,000 |
1,357.0 % |
22,338,000 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Land & Buildings |
419,308,516 |
787.7 % |
47,238,000 |
27.0 % |
37,198,000 |
42.5 % |
26,111,000 |
9.9 % |
23,752,000 |
|
Plant & Machinery |
2,328,903,320 |
611.3 % |
327,417,000 |
19.1 % |
274,893,000 |
18.2 % |
232,489,000 |
67.2 % |
139,013,000 |
|
Other Tangible Assets |
761,529,315 |
271.6 % |
204,950,000 |
13.0 % |
181,405,000 |
-6.7 % |
194,387,000 |
-5.9 % |
206,629,000 |
|
Total Tangible Assets |
3,509,741,151 |
505.5 % |
579,605,000 |
17.4 % |
493,496,000 |
8.9 % |
452,987,000 |
22.6 % |
369,394,000 |
|
Intangible Assets |
19,348,056,343 |
649.4 % |
2,581,873,000 |
174.1 % |
942,068,000 |
-11.7 % |
1,067,484,000 |
-7.4 % |
1,152,677,000 |
|
Other Fixed Assets |
28,225,528,217 |
735.2 % |
3,379,469,000 |
7.2 % |
3,152,715,000 |
29.3 % |
2,438,397,000 |
22.0 % |
1,998,987,000 |
|
TOTAL FIXED ASSETS |
51,083,325,711 |
681.0 % |
6,540,947,000 |
42.6 % |
4,588,279,000 |
15.9 % |
3,958,868,000 |
12.4 % |
3,521,058,000 |
|
Inventories |
14,199,542,669 |
613.1 % |
1,991,249,000 |
-3.4 % |
2,060,630,000 |
-15.1 % |
2,428,540,000 |
39.5 % |
1,740,842,000 |
|
Trade Receivables |
21,793,496,753 |
711.6 % |
2,685,183,000 |
-8.9 % |
2,949,092,000 |
12.7 % |
2,616,548,000 |
38.7 % |
1,886,136,000 |
|
Other Receivables |
11,669,935,059 |
934.8 % |
1,127,768,000 |
-34.0 % |
1,709,396,000 |
-25.7 % |
2,301,290,000 |
86.9 % |
1,231,235,000 |
|
Cash & Bank Deposits |
4,166,861,795 |
168.7 % |
1,550,756,000 |
50.2 % |
1,032,140,000 |
10.4 % |
935,047,000 |
-15.7 % |
1,108,751,000 |
|
Other Current Assets |
0 |
-100.0 % |
611,433,000 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL CURRENT ASSETS |
51,829,836,275 |
550.6 % |
7,966,389,000 |
2.8 % |
7,751,258,000 |
-6.4 % |
8,281,425,000 |
38.8 % |
5,966,964,000 |
|
TOTAL ASSETS |
102,913,161,987 |
609.4 % |
14,507,336,000 |
17.6 % |
12,339,537,000 |
0.8 % |
12,240,293,000 |
29.0 % |
9,488,022,000 |
|
Trade Creditors |
8,535,708,406 |
564.7 % |
1,284,082,000 |
0.1 % |
1,282,182,000 |
-10.3 % |
1,429,669,000 |
-2.6 % |
1,468,415,000 |
|
Short Term Liabilities to Financial Institutions |
0 |
-100.0 % |
495,648,000 |
- |
0 |
- |
0 |
- |
0 |
|
Short Term Liabilities to Group |
9,569,331,382 |
1,381.5 % |
645,904,000 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
38,845,111,131 |
582.8 % |
5,688,793,000 |
-2.3 % |
5,825,173,000 |
-6.6 % |
6,235,988,000 |
61.1 % |
3,870,728,000 |
|
TOTAL CURRENT LIABILITIES |
56,950,150,919 |
601.8 % |
8,114,427,000 |
14.2 % |
7,107,355,000 |
-7.3 % |
7,665,657,000 |
43.6 % |
5,339,143,000 |
|
Long Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
233,760,176 |
532.5 % |
36,957,000 |
-27.6 % |
51,023,000 |
14.6 % |
44,536,000 |
27.6 % |
34,903,000 |
|
Other Long Term Liabilities |
19,320,680,509 |
640.3 % |
2,609,781,000 |
48.6 % |
1,755,675,000 |
19.0 % |
1,475,605,000 |
6.5 % |
1,384,946,000 |
|
TOTAL LONG TERM LIABILITIES |
19,554,440,684 |
638.8 % |
2,646,738,000 |
46.5 % |
1,806,698,000 |
18.9 % |
1,520,141,000 |
7.1 % |
1,419,849,000 |
|
TOTAL LIABILITIES |
76,504,591,603 |
610.9 % |
10,761,165,000 |
20.7 % |
8,914,053,000 |
-3.0 % |
9,185,798,000 |
35.9 % |
6,758,992,000 |
|
Share Capital |
4,368,206,348 |
561.0 % |
660,830,000 |
0.0 % |
660,830,000 |
0.0 % |
660,830,000 |
0.0 % |
660,830,000 |
|
Share Premium Reserve |
14,586,636,788 |
561.0 % |
2,206,688,000 |
10.9 % |
1,989,420,000 |
0.0 % |
1,989,420,000 |
0.0 % |
1,989,420,000 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
6,650,416,171 |
740.9 % |
790,827,000 |
2.0 % |
775,234,000 |
91.8 % |
404,245,000 |
- |
0 |
|
Other Reserves |
803,311,077 |
814.7 % |
87,826,000 |
- |
0 |
- |
0 |
-100.0 % |
78,780,000 |
|
TOTAL EQUITY |
26,408,570,383 |
604.9 % |
3,746,171,000 |
9.4 % |
3,425,484,000 |
12.1 % |
3,054,495,000 |
11.9 % |
2,729,030,000 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
|
Total Exports |
67,563,633,038 |
422.3 % |
12,934,617,000 |
8.0 % |
11,976,056,000 |
- |
- |
- |
- |
|
Working Capital |
-5,120,314,644 |
-3,358.8 % |
-148,038,000 |
-123.0 % |
643,903,000 |
4.6 % |
615,768,000 |
-1.9 % |
627,821,000 |
|
Net Worth |
7,060,514,040 |
506.4 % |
1,164,298,000 |
-53.1 % |
2,483,416,000 |
25.0 % |
1,987,011,000 |
26.1 % |
1,576,353,000 |
|
Capital Employed |
45,963,011,067 |
619.0 % |
6,392,909,000 |
22.2 % |
5,232,182,000 |
14.4 % |
4,574,636,000 |
10.3 % |
4,148,879,000 |
|
2011 |
2010 |
2009 |
2008 |
2007 |
|
|
Pre-Tax Profit Margin |
-1.61 |
3.90 |
4.33 |
4.26 |
0.43 |
|
Return on Capital Employed |
-2.36 |
7.88 |
9.91 |
10.05 |
0.84 |
|
Return on Total Assets Employed |
-1.05 |
3.47 |
4.20 |
3.76 |
0.37 |
|
Return on Net Assets Employed |
-4.11 |
13.45 |
15.13 |
15.05 |
1.28 |
|
Sales/Net Working Capital |
-13.20 |
-87.37 |
18.60 |
17.54 |
13.01 |
|
Stock Turnover Ratio |
21.02 |
15.39 |
17.21 |
22.48 |
21.31 |
|
Debtor Days |
117.74 |
75.77 |
89.88 |
88.40 |
84.27 |
|
Creditor Days |
46.11 |
36.24 |
39.08 |
48.30 |
65.61 |
|
Current Ratio |
0.91 |
0.98 |
1.09 |
1.08 |
1.12 |
|
Liquidity Ratio/Acid Test |
0.66 |
0.74 |
0.80 |
0.76 |
0.79 |
|
Current Debt Ratio |
2.16 |
2.17 |
2.07 |
2.51 |
1.96 |
|
Solvency Ratio |
25.66 |
25.82 |
27.76 |
24.95 |
28.76 |
|
Equity in Percentage |
47.72 |
43.84 |
41.55 |
34.97 |
43.07 |
|
Total Debt Ratio |
2.90 |
2.87 |
2.60 |
3.01 |
2.48 |
|
Date |
Description |
|
21/09/2012 |
Rating Change |
|
17/09/2012 |
Rating Change |
|
15/09/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
20/08/2012 |
Rating Change |
|
14/08/2012 |
CHANGE OF BOARD OF DIRECTORS |
|
14/08/2012 |
CHANGE OF SIGNATURE |
|
14/08/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
17/01/2012 |
Rating Change |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
|
03/11/2011 |
CHANGE OF CAPITAL |
|
03/11/2011 |
Execution of demerger |
|
03/11/2011 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
31/10/2011 |
CHANGE OF CAPITAL |
|
31/10/2011 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
19/09/2011 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
|
|
1 |
Rs.91.15 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.