|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TAMROTOR MARINE COMPRESSORS AS |
|
|
|
|
Registered Office : |
Professor Birkelands Vei 24 D Oslo 1081 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
13.06.1996 |
|
|
|
|
Com. Reg. No.: |
976516648 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of shipping equipment and fishing tackle |
|
|
|
|
No. of Employees : |
44 |
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, 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
|
Company name |
TAMROTOR MARINE COMPRESSORS AS |
Company number |
976516648 |
|
Address |
Professor Birkelands vei 24 D |
|
|
|
City |
OSLO 1081 |
Legal form |
Limited company |
|
Website address |
E-mail address |
mail@tamrotor-marine.com |
|
|
Telephone Number |
00 47 22918500 |
Fax Number |
00 47 22918493 |
|
Registration date |
13/06/1996 |
Status |
Active |
|
Previous Name |
- |
Share capital |
750,000 |
|
Name change date |
- |
Currency |
- |
|
|
|
Number of employees |
44 |
Postal Address
|
Address |
City |
Postal Code |
|
Postboks 3 Furuset |
OSLO |
1001 |
|
Company Name |
|
Company Number |
|
|
|
|
|
Year to Date |
Sales Revenue |
Profit Before
Tax |
Total Equity |
|
2011 |
215,863,000 |
34,745,000 |
30,193,000 |
|
2010 |
232,925,000 |
45,161,000 |
28,955,000 |
|
2009 |
258,098,000 |
38,096,000 |
20,190,000 |
|
2008 |
281,141,000 |
49,084,000 |
16,493,000 |
|
2007 |
230,709,000 |
20,163,000 |
8,164,000 |
|
Main Industry Code & Description |
Wholesale of shipping equipment and fishing tackle |
|
Secondary Industry Code & Description |
- |
|
Other Industry Code & Description |
- |
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
NESSCO HOLDING AS |
682,500 |
91.0 |
|
GARDNER DENVER OY |
67,500 |
9.0 |
|
Name |
Address |
Function |
|
Terrasseveien 26 SLEMMESTAD 3470 |
General manager/CEO |
|
|
Hospitsveien 10 A OSLO 0789 |
Chairman of the board |
|
|
Lindemans Gate 6 OSLO 0267 |
Board member(s) |
|
|
SlalĂ¥mveien 125 LOMMEDALEN 1350 |
Board member(s) |
|
|
Løchenveien 20 D OSLO 0286 |
Board member(s) |
|
|
Nico Hambros Vei 127 OSLO 0969 |
Board member(s) |
|
|
Steinveien 8 BĂ˜DALEN 3472 |
Board member(s) |
|
|
Thamelan Viertotie 19 A 33240 Tampere |
Board member(s) |
No data exist
Profit & Loss Account
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Sales Revenue |
215,863,000 |
-7.3 % |
232,925,000 |
-9.8 % |
258,098,000 |
-8.2 % |
281,141,000 |
21.9 % |
230,709,000 |
|
Other operating income |
0 |
- |
0 |
- |
0 |
-100.0 % |
17,000 |
-5.6 % |
18,000 |
|
Total Operating Income |
215,863,000 |
-7.3 % |
232,925,000 |
-9.8 % |
258,098,000 |
-8.2 % |
281,158,000 |
21.9 % |
230,727,000 |
|
Total Operating Expenses |
181,597,000 |
-4.5 % |
190,109,000 |
-11.3 % |
214,321,000 |
-10.4 % |
239,210,000 |
13.2 % |
211,310,000 |
|
Operating Profit |
34,265,000 |
-20.0 % |
42,816,000 |
-2.2 % |
43,777,000 |
4.4 % |
41,948,000 |
116.0 % |
19,417,000 |
|
Wages & Salaries |
30,196,000 |
2.7 % |
29,407,000 |
5.6 % |
27,858,000 |
-10.7 % |
31,179,000 |
-1.2 % |
31,551,000 |
|
Depreciation |
1,114,000 |
15.0 % |
969,000 |
-2.8 % |
997,000 |
102.6 % |
492,000 |
92.2 % |
256,000 |
|
Financial Income |
7,551,000 |
-43.8 % |
13,433,000 |
17.0 % |
11,485,000 |
18.6 % |
9,682,000 |
208.9 % |
3,134,000 |
|
Financial Expenses |
7,071,000 |
-36.2 % |
11,087,000 |
-35.4 % |
17,166,000 |
574.0 % |
2,547,000 |
6.7 % |
2,388,000 |
|
Profit Before Tax |
34,745,000 |
-23.1 % |
45,161,000 |
18.5 % |
38,096,000 |
-22.4 % |
49,084,000 |
143.4 % |
20,163,000 |
|
Tax |
-9,771,000 |
22.8 % |
-12,660,000 |
-18.7 % |
-10,663,000 |
23.0 % |
-13,853,000 |
-139.5 % |
-5,785,000 |
|
Profit After Tax |
24,974,000 |
-23.2 % |
32,501,000 |
18.5 % |
27,433,000 |
-22.1 % |
35,231,000 |
145.0 % |
14,378,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
23,736,000 |
0.0 % |
23,736,000 |
0.0 % |
23,736,000 |
- |
- |
- |
12,700,000 |
|
Net Result after Dividends |
1,238,000 |
-85.9 % |
8,765,000 |
137.1 % |
3,697,000 |
-89.5 % |
35,231,000 |
1,999.6 % |
1,678,000 |
Balance Sheet
|
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 |
2,931,000 |
-22.3 % |
3,771,000 |
15.9 % |
3,255,000 |
13.1 % |
2,879,000 |
457.9 % |
516,000 |
|
Total Tangible Assets |
2,931,000 |
-22.3 % |
3,771,000 |
15.9 % |
3,255,000 |
13.1 % |
2,879,000 |
457.9 % |
516,000 |
|
Intangible Assets |
749,000 |
48.0 % |
506,000 |
-22.0 % |
649,000 |
33.5 % |
486,000 |
-43.2 % |
856,000 |
|
Other Fixed Assets |
0 |
- |
0 |
100.0 % |
-1,000 |
-101.2 % |
82,000 |
173.3 % |
30,000 |
|
TOTAL FIXED ASSETS |
3,680,000 |
-14.0 % |
4,277,000 |
9.6 % |
3,903,000 |
13.2 % |
3,447,000 |
145.9 % |
1,402,000 |
|
Inventories |
14,219,000 |
2.2 % |
13,908,000 |
10.4 % |
12,594,000 |
0.5 % |
12,529,000 |
11.2 % |
11,268,000 |
|
Trade Receivables |
47,971,000 |
34.1 % |
35,782,000 |
-17.5 % |
43,363,000 |
-30.8 % |
62,641,000 |
51.1 % |
41,445,000 |
|
Other Receivables |
3,049,000 |
61.6 % |
1,887,000 |
410.0 % |
370,000 |
3.1 % |
359,000 |
-90.9 % |
3,930,000 |
|
Cash & Bank Deposits |
35,915,000 |
-38.4 % |
58,259,000 |
75.2 % |
33,261,000 |
-22.2 % |
42,758,000 |
84.4 % |
23,185,000 |
|
Other Current Assets |
1,000 |
200.0 % |
-1,000 |
-200.0 % |
1,000 |
-88.9 % |
9,000 |
1,000.0 % |
-1,000 |
|
TOTAL CURRENT ASSETS |
101,155,000 |
-7.9 % |
109,835,000 |
22.6 % |
89,589,000 |
-24.3 % |
118,296,000 |
48.2 % |
79,827,000 |
|
TOTAL ASSETS |
104,835,000 |
-8.1 % |
114,112,000 |
22.1 % |
93,492,000 |
-23.2 % |
121,744,000 |
49.9 % |
81,229,000 |
|
Trade Creditors |
28,243,000 |
-20.0 % |
35,316,000 |
39.7 % |
25,273,000 |
-55.0 % |
56,209,000 |
20.3 % |
46,742,000 |
|
Short Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Short Term Liabilities to Group |
33,640,000 |
2.3 % |
32,878,000 |
-0.8 % |
33,149,000 |
4,884.8 % |
665,000 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
10,760,000 |
-28.1 % |
14,964,000 |
16.2 % |
12,880,000 |
-72.6 % |
46,971,000 |
96.4 % |
23,919,000 |
|
TOTAL CURRENT LIABILITIES |
72,643,000 |
-12.6 % |
83,158,000 |
16.6 % |
71,302,000 |
-31.3 % |
103,845,000 |
47.0 % |
70,661,000 |
|
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 |
-100.0 % |
1,000 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Liabilities |
2,000,000 |
0.0 % |
2,000,000 |
0.0 % |
2,000,000 |
42.3 % |
1,405,000 |
-41.6 % |
2,405,000 |
|
TOTAL LONG TERM LIABILITIES |
2,000,000 |
0.0 % |
2,001,000 |
0.1 % |
2,000,000 |
42.3 % |
1,405,000 |
-41.6 % |
2,405,000 |
|
TOTAL LIABILITIES |
74,643,000 |
-12.3 % |
85,158,000 |
16.2 % |
73,302,000 |
-30.4 % |
105,250,000 |
44.0 % |
73,066,000 |
|
Share Capital |
750,000 |
0.0 % |
750,000 |
0.0 % |
750,000 |
0.0 % |
750,000 |
0.0 % |
750,000 |
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
29,443,000 |
4.4 % |
28,205,000 |
45.1 % |
19,440,000 |
23.5 % |
15,743,000 |
112.3 % |
7,414,000 |
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
30,193,000 |
4.3 % |
28,955,000 |
43.4 % |
20,190,000 |
22.4 % |
16,493,000 |
102.0 % |
8,164,000 |
Other Financials
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working Capital |
28,512,000 |
6.9 % |
26,677,000 |
45.9 % |
18,287,000 |
26.5 % |
14,451,000 |
57.7 % |
9,166,000 |
|
Net Worth |
29,444,000 |
3.5 % |
28,449,000 |
45.6 % |
19,541,000 |
22.1 % |
16,007,000 |
119.0 % |
7,308,000 |
|
Capital Employed |
32,193,000 |
4.0 % |
30,956,000 |
39.5 % |
22,190,000 |
24.0 % |
17,898,000 |
69.3 % |
10,569,000 |
Ratios
|
2011 |
2010 |
2009 |
2008 |
2007 |
|
|
Pre-Tax Profit Margin |
16.10 |
19.39 |
14.76 |
17.46 |
8.74 |
|
Return on Capital Employed |
107.93 |
145.89 |
171.68 |
274.24 |
190.77 |
|
Return on Total Assets Employed |
33.14 |
39.58 |
40.75 |
40.32 |
24.82 |
|
Return on Net Assets Employed |
115.08 |
155.97 |
188.69 |
297.61 |
246.97 |
|
Sales/Net Working Capital |
7.57 |
8.73 |
14.11 |
19.45 |
25.17 |
|
Stock Turnover Ratio |
6.59 |
5.97 |
4.88 |
4.46 |
4.88 |
|
Debtor Days |
81.11 |
56.07 |
61.32 |
81.33 |
65.57 |
|
Creditor Days |
47.76 |
55.34 |
35.74 |
72.98 |
73.95 |
|
Current Ratio |
1.39 |
1.32 |
1.26 |
1.14 |
1.13 |
|
Liquidity Ratio/Acid Test |
1.20 |
1.15 |
1.08 |
1.02 |
0.97 |
|
Current Debt Ratio |
2.41 |
2.87 |
3.53 |
6.30 |
8.66 |
|
Solvency Ratio |
28.80 |
25.37 |
21.60 |
13.55 |
10.05 |
|
Equity in Percentage |
29.01 |
25.49 |
21.75 |
13.61 |
10.16 |
|
Total Debt Ratio |
2.47 |
2.94 |
3.63 |
6.38 |
8.95 |
|
Date |
Description |
|
03/08/2012 |
Limit Change |
|
03/08/2012 |
Rating Change |
|
25/07/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
Rating History
No data exist
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
|
|
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
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.