|
Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
NORDIAN AS
|
|
|
|
|
Formerly Known As : |
NORDIAN MEDIA AS |
|
|
|
|
Registered Office : |
Klinestadmoen 1, Sandefjord 3241 |
|
|
|
|
Country : |
Norway |
|
|
|
|
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 : |
04 |
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 |
|
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 |
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 |
No negative information found.
Shareholders
|
Shareholder
Name |
Number of
Shares |
Percentage
Share |
|
SELJESTAD
AS |
1,000 |
100.0 |
Ultimate Holding Company
|
Company
Name |
Company
Number |
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 |
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 |
Postal Address
No data
exist
Industry
|
Main
Industry Code & Description |
Service
activities incidental to air transportation |
|
Secondary
Industry Code & Description |
- |
|
Other
Industry Code & Description |
- |
Other Company
Officials
No data
exist
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
UK Pound |
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
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.