MIRA INFORM REPORT

 

 

Report Date :

15.06.2013

 

IDENTIFICATION DETAILS

 

Name :

STILLASGRUPPEN PRODUKSJON AS 

 

 

Registered Office :

Bleikmyrvegen 8, Vedavagen, 4276

 

 

Country :

Norway

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishments:

1998

 

 

Com. Reg. No.:

979691432

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

manufacturing fabricated metal products

 

 

No. of Employees :

14

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate  

Payment Behaviour :

Slow but Correct 

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 & address

 

Stillasgruppen Produksjon AS

Bleikmyrvegen 8

Vedavagen, 4276

Norway

Tel:       +47 52 84 64 00

Fax:      +47 52 84 64 01

 Web:   www.stillastjenester.no

           

 

Synthesis

 

Employees:                  14

Company Type:            Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:            Stillasgruppen AS

Incorporation Date:         1998   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       Norwegian Krone

Annual Sales:                7.5

Net Income:                   0.5

Total Assets:                3.4

 

 

Business Description     

 

Stillasgruppen Produksjon AS is primarily engaged in manufacturing fabricated metal products, not elsewhere classified, such as fire or burglary resistive steel safes and vaults and similar fire or burglary resistive products; and collapsible tubes of thin flexible metal. This also includes manufacturing metal boxes, metal ladders, and metal household articles, such as ice cream freezers and ironing boards.

 

Industry             

Industry            Miscellaneous Fabricated Products

ANZSIC 2006:    2299 - Other Fabricated Metal Product Manufacturing Not Elsewhere Classified

NACE 2002:      2875 - Manufacture of other fabricated metal products not elsewhere classified

NAICS 2002:     332999 - All Other Miscellaneous Fabricated Metal Product Manufacturing

UK SIC 2003:    2875 - Manufacture of other fabricated metal products not elsewhere classified

UK SIC 2007:    2599 - Manufacture of other fabricated metal products n.e.c.

US SIC 1987:    3499 - Fabricated Metal Products, Not Elsewhere Classified

 

           


Key Executives   

 

Name                           Title    

Brian Paul Sjoen            Daglig leder, Styreleder  Kompass

 

1 - Profit & Loss Item Exchange Rate: USD 1 = NOK 5.606842

2 - Balance Sheet Item Exchange Rate: USD 1 = NOK 5.96795

 

 

Corporate Overview

 

Location

Bleikmyrvegen 8

VedavAgen, 4276

Norway

Tel:       +47 52 84 64 00

Fax:      +47 52 84 64 01

Web:    www.stillastjenester.no

           

Sales NOK(mil)              42.1

Assets NOK(mil):           20.5

Employees:                   14

Fiscal Year End:            31-Dec-2011

Industry:                        Miscellaneous Fabricated Products

Incorporation Date:         1998

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(NOR):     979691432

Daglig leder, Styreleder: Brian Paul Sjoen

 

Industry Codes

ANZSIC 2006 Codes:

2299     -          Other Fabricated Metal Product Manufacturing Not Elsewhere Classified

2229     -          Other Structural Metal Product Manufacturing

 

NACE 2002 Codes:

2875     -          Manufacture of other fabricated metal products not elsewhere classified

2811     -          Manufacture of metal structures and parts of structures

 

NAICS 2002 Codes:

332999  -          All Other Miscellaneous Fabricated Metal Product Manufacturing

332323  -          Ornamental and Architectural Metal Work Manufacturing

 

US SIC 1987:

3499     -          Fabricated Metal Products, Not Elsewhere Classified

3446     -          Architectural and Ornamental Metal Work

 

UK SIC 2003:

2875     -          Manufacture of other fabricated metal products not elsewhere classified

2811     -          Manufacture of metal structures and parts of structures

 

UK SIC 2007:

2599     -          Manufacture of other fabricated metal products n.e.c.

2511     -          Manufacture of metal structures and parts of structures

 

Business Description

Stillasgruppen Produksjon AS is primarily engaged in manufacturing fabricated metal products, not elsewhere classified, such as fire or burglary resistive steel safes and vaults and similar fire or burglary resistive products; and collapsible tubes of thin flexible metal. This also includes manufacturing metal boxes, metal ladders, and metal household articles, such as ice cream freezers and ironing boards.

 

Financial Data

Financials in:

NOK(mil)

 

Revenue:

42.1

Net Income:

3.1

Assets:

20.5

Total Liabilities:

15.4

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

NA

NA

NA

 

 

 

 

Corporate Family

Corporate Structure News:

 

Stillasgruppen Produksjon AS

Stillasgruppen Produksjon AS 
Total Corporate Family Members: 2 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Stillasgruppen AS

Parent

 

 

 

 

 

 

Stillasgruppen Produksjon AS

Subsidiary

VedavAgen, Rogaland

Norway

Miscellaneous Fabricated Products

7.5

14

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Brian Paul Sjoen

 

Daglig leder, Styreleder

Director/Board Member

 

 

 

 

Executives

 

Name

Title

Function

 

Brian Paul Sjoen

 

Daglig leder, Styreleder

Managing Director

 

 



 

Annual Profit & Loss

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

NOK

NOK

NOK

Exchange Rate (Period Average)

5.606842

6.047155

6.287787

Consolidated

No

No

No

 

 

 

 

Total Revenue

7.5

2.9

3.4

Net Financial Items

0.0

-0.1

-0.1

Operating Income

0.8

0.1

0.1

Income Before Tax

0.8

0.0

0.0

Net Income

0.5

0.0

0.0

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Filed Currency

NOK

NOK

NOK

Exchange Rate

5.96795

5.8125

5.7768

Consolidated

No

No

No

 

 

 

 

Total Assets

3.4

3.6

2.7

Total Liabilities

2.6

3.2

2.4

Total Equity

0.9

0.4

0.3

 

 

Annual Ratios

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Operating Margin

10.79

3.30

2.20

Current Ratio

1.25

1.02

1.00

Total debt/total equity

25.02

9.90

11.97

Return on average equity

59.88

8.11

-8.72

 

 

Annual Growth Rates

 

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Turnover Percent Change

138.52%

-17.60%

Net Financial Items Percent Change

22.35%

50.14%

Operating Results Percent Change

680.07%

23.31%

Profit/Loss Before Tax Percent Change

1,732.19%

202.19%

Profit/Loss for the Year Percent Change

1,740.72%

201.21%

Assets Percent Change

-1.35%

31.57%

Debts Percent Change

-17.90%

34.66%

Equity Capital Percent Change

149.22%

8.82%

Operating Margin Percent Change

226.97%

50.00%

Current Ratio Percent Change

22.55%

2.00%

Debt/Equity Ratio Percent Change

152.73%

-17.29%

Return On Equity Percent Change

638.35%

193.00%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.57.74

UK Pound

1

Rs.90.64

Euro

1

Rs.77.02

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.