|
Report Date : |
28.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARVID NILSSON NORGE AS |
|
|
|
|
Registered Office : |
Vinjarmoen, Dokka 2870 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
20.02.1995 |
|
|
|
|
Com. Reg. No.: |
959514887 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
·
Wholesaler of hardware Supplier of stud bolts with markings,
wood, construction and self-tapping screws, blind rivets, nuts, washers,
plugs, anchoring and construction fittings. |
|
|
|
|
No. of Employees : |
43 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
ARVID NILSSON NORGE AS |
Company number |
959514887 |
|
Address |
Vinjarmoen |
|
|
|
City |
DOKKA 2870 |
Legal form |
Limited company |
|
Website address |
|
E-mail address |
|
|
Telephone Number |
00 47 61113000 |
Fax Number |
00 47 61113091 |
|
Registration date |
20/02/1995 |
Status |
Active |
|
Previous Name |
- |
Share capital |
2,750,000 |
|
Name change date |
- |
Currency |
- |
|
|
|
Number of employees |
43 |
Postal Address
No data exist
Current Directors
|
Name |
Address |
Function |
|
Hoel, Andreas |
Møllevegen 18 A FALL 2864 |
General manager/CEO |
|
Folkesson, Annika Ragnhild
Maria |
SlĂ¥ttervägen 7 SE44495
Ă–dsmĂ¥l |
Chairman of the board |
|
Björk, Jenny Maria Young-Joo |
Hjälmgatan 4 |
Board member(s) |
|
Hoel, Andreas |
Møllevegen 18 A FALL 2864 |
Deputy chairman |
Other Company
Officials
No data exist
No negative information
found
Shareholders
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
ARVID NILSSON A/S |
2,750 |
100.0 |
|
Share capital |
2,750,000 |
Ultimate Holding
Company
|
Company Name |
|
Company Number |
|
ARVID NILSSON A/S |
|
887457042 |
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2012 |
311,433,622 |
-61,440,503 |
146,590,873 |
|
2011 |
1,478,155,034 |
-56,530,644 |
1,233,251,930 |
|
2010 |
179,072,057 |
-1,258,641 |
171,247,102 |
|
2009 |
197,911,000 |
8,116,000 |
160,187,000 |
|
2008 |
227,618,110 |
49,310,341 |
159,023,786 |
Profit & Loss
Account
|
Financial Year |
2012 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
Yes |
|
No |
|
Yes |
|
Complete Accounts |
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Sales Revenue |
311,433,622 |
-78.9 % |
1,478,155,034 |
725.5 % |
179,072,057 |
-9.5 % |
197,911,000 |
-13.1 % |
227,618,110 |
|
Other operating income |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Operating Income |
311,433,622 |
-78.9 % |
1,478,155,034 |
725.5 % |
179,072,057 |
-9.5 % |
197,911,000 |
-13.1 % |
227,618,110 |
|
Total Operating Expenses |
271,544,561 |
-82.1 % |
1,518,236,962 |
700.7 % |
189,603,777 |
-5.1 % |
199,833,000 |
-7.5 % |
215,968,539 |
|
Operating Profit |
39,889,062 |
199.5 % |
-40,081,928 |
-280.6 % |
-10,531,720 |
-447.7 % |
-1,923,000 |
-116.5 % |
11,649,571 |
|
Wages & Salaries |
29,785,004 |
-84.3 % |
189,632,897 |
830.4 % |
20,382,779 |
-5.1 % |
21,475,000 |
-2.3 % |
21,983,338 |
|
Depreciation |
1,602,676 |
-83.2 % |
9,524,185 |
844.1 % |
1,008,818 |
198.5 % |
338,000 |
13.2 % |
298,517 |
|
Financial Income |
-100,154,551 |
-796.6 % |
-11,170,632 |
-216.2 % |
9,617,115 |
-33.4 % |
14,441,000 |
-64.7 % |
40,960,335 |
|
Financial Expenses |
1,173,955 |
-77.8 % |
5,285,962 |
1,436.5 % |
344,035 |
-92.2 % |
4,403,000 |
33.4 % |
3,299,565 |
|
Profit Before Tax |
-61,440,503 |
-8.7 % |
-56,530,644 |
-4,391.4 % |
-1,258,641 |
-115.5 % |
8,116,000 |
-83.5 % |
49,310,341 |
|
Tax |
-11,039,834 |
-183.7 % |
13,195,210 |
349.2 % |
2,937,534 |
59.1 % |
1,846,000 |
159.7 % |
-3,093,144 |
|
Profit After Tax |
-72,480,337 |
-67.3 % |
-43,335,434 |
-2,681.2 % |
1,678,893 |
-83.1 % |
9,962,000 |
-78.4 % |
46,217,198 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
0 |
|
Net Result after Dividends |
-72,480,337 |
-67.3 % |
-43,335,434 |
-2,681.2 % |
1,678,893 |
-83.1 % |
9,962,000 |
-78.4 % |
46,217,198 |
Balance Sheet
|
Financial Year |
2012 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
Yes |
|
No |
|
Yes |
|
Complete Accounts |
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Land & Buildings |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Plant & Machinery |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Tangible Assets |
1,977,410 |
-88.8 % |
17,701,276 |
696.3 % |
2,222,999 |
13.4 % |
1,961,000 |
260.4 % |
544,105 |
|
Total Tangible Assets |
1,977,410 |
-88.8 % |
17,701,276 |
696.3 % |
2,222,999 |
13.4 % |
1,961,000 |
260.4 % |
544,105 |
|
Intangible Assets |
2,581,854 |
-94.2 % |
44,832,204 |
954.6 % |
4,251,220 |
104.9 % |
2,075,000 |
375.8 % |
436,131 |
|
Other Fixed Assets |
96,115,045 |
-91.0 % |
1,069,221,680 |
639.8 % |
144,523,484 |
13.0 % |
127,844,000 |
4.3 % |
122,569,786 |
|
TOTAL FIXED ASSETS |
100,674,310 |
-91.1 % |
1,131,755,160 |
649.5 % |
150,997,703 |
14.5 % |
131,880,000 |
6.7 % |
123,550,023 |
|
Inventories |
15,012,650 |
-90.5 % |
157,704,427 |
1,033.3 % |
13,915,971 |
18.3 % |
11,759,000 |
7.7 % |
10,921,274 |
|
Trade Receivables |
64,866,038 |
-77.9 % |
293,477,233 |
1,004.5 % |
26,572,242 |
-18.6 % |
32,654,000 |
-9.4 % |
36,039,040 |
|
Other Receivables |
2,536,335 |
-93.1 % |
36,985,978 |
509.0 % |
6,073,020 |
85.2 % |
3,280,000 |
-84.4 % |
21,067,674 |
|
Cash & Bank Deposits |
9,009,495 |
-6.4 % |
9,626,595 |
219.4 % |
3,013,751 |
-79.2 % |
14,458,000 |
22.8 % |
11,775,541 |
|
Other Current Assets |
0 |
- |
0 |
-100.0 % |
46,577 |
- |
0 |
- |
0 |
|
TOTAL CURRENT ASSETS |
91,424,519 |
-81.6 % |
497,794,233 |
903.2 % |
49,621,561 |
-20.2 % |
62,151,000 |
-22.1 % |
79,803,529 |
|
TOTAL ASSETS |
192,098,828 |
-88.2 % |
1,629,549,393 |
712.3 % |
200,619,264 |
3.4 % |
194,031,000 |
-4.6 % |
203,353,552 |
|
Trade Creditors |
19,616,374 |
-81.8 % |
107,594,139 |
1,325.7 % |
7,546,551 |
79.4 % |
4,206,000 |
-64.5 % |
11,849,641 |
|
Short Term Liabilities to Financial Institutions |
0 |
- |
0 |
-100.0 % |
7,272,381 |
- |
0 |
- |
0 |
|
Short Term Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
25,798,427 |
-91.0 % |
286,907,200 |
1,899.4 % |
14,349,985 |
-49.5 % |
28,429,000 |
14.2 % |
24,886,998 |
|
TOTAL CURRENT LIABILITIES |
45,414,801 |
-88.5 % |
394,501,339 |
1,252.5 % |
29,168,916 |
-10.6 % |
32,635,000 |
-11.2 % |
36,736,638 |
|
Long Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
-100.0 % |
6,457,281 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
93,154 |
-94.8 % |
1,796,124 |
783.7 % |
203,246 |
-83.2 % |
1,209,000 |
6.3 % |
1,136,905 |
|
Other Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL LONG TERM LIABILITIES |
93,154 |
-94.8 % |
1,796,124 |
783.7 % |
203,246 |
-83.2 % |
1,209,000 |
-84.1 % |
7,594,186 |
|
TOTAL LIABILITIES |
45,507,955 |
-88.5 % |
396,297,463 |
1,249.2 % |
29,372,162 |
-13.2 % |
33,845,000 |
-23.7 % |
44,329,766 |
|
Share Capital |
2,911,069 |
-86.6 % |
21,663,778 |
644.2 % |
2,911,069 |
5.9 % |
2,750,000 |
-5.5 % |
2,911,069 |
|
Share Premium Reserve |
43,340,002 |
-86.6 % |
322,530,329 |
644.2 % |
43,340,002 |
5.9 % |
40,942,000 |
-5.5 % |
43,340,002 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
100,339,801 |
-88.7 % |
889,065,700 |
611.3 % |
124,996,030 |
7.3 % |
116,495,000 |
3.3 % |
112,772,714 |
|
Other Reserves |
0 |
100.0 % |
-7,878 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
146,590,873 |
-88.1 % |
1,233,251,930 |
620.2 % |
171,247,102 |
6.9 % |
160,187,000 |
0.7 % |
159,023,786 |
Other Financials
|
Financial Year |
2012 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
Total Exports |
5,386,008 |
-75.3 % |
21,837,088 |
6,227.9 % |
345,094 |
-71.4 % |
1,208,000 |
- |
- |
|
Working Capital |
46,009,718 |
-55.5 % |
103,292,894 |
405.0 % |
20,452,645 |
-30.7 % |
29,516,000 |
-31.5 % |
43,066,891 |
|
Net Worth |
144,009,019 |
-87.9 % |
1,188,419,726 |
611.6 % |
166,995,882 |
5.6 % |
158,112,000 |
-0.3 % |
158,587,655 |
|
Capital Employed |
146,684,027 |
-88.1 % |
1,235,048,054 |
620.4 % |
171,450,348 |
6.2 % |
161,396,000 |
-3.1 % |
166,617,972 |
Ratios
|
Financial Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Pre-Tax Profit Margin |
-19.73 |
-3.82 |
-0.70 |
4.10 |
21.66 |
|
Return on Capital Employed |
-41.89 |
-4.58 |
-0.73 |
5.03 |
29.59 |
|
Return on Total Assets Employed |
-31.98 |
-3.47 |
-0.63 |
4.18 |
24.25 |
|
Return on Net Assets Employed |
-41.91 |
-4.58 |
-0.73 |
5.07 |
31.01 |
|
Sales/Net Working Capital |
6.77 |
14.31 |
8.76 |
6.71 |
5.29 |
|
Stock Turnover Ratio |
4.82 |
10.67 |
7.77 |
5.94 |
4.80 |
|
Debtor Days |
76.02 |
72.47 |
54.16 |
60.22 |
57.79 |
|
Creditor Days |
22.99 |
26.57 |
15.38 |
7.76 |
19.00 |
|
Current Ratio |
2.01 |
1.26 |
1.70 |
1.90 |
2.17 |
|
Liquidity Ratio/Acid Test |
1.68 |
0.86 |
1.22 |
1.54 |
1.88 |
|
Current Debt Ratio |
0.31 |
0.32 |
0.17 |
0.20 |
0.23 |
|
Solvency Ratio |
76.31 |
75.68 |
85.36 |
82.56 |
78.20 |
|
Equity in Percentage |
156.95 |
239.24 |
330.31 |
249.85 |
197.92 |
|
Total Debt Ratio |
0.31 |
0.32 |
0.17 |
0.21 |
0.28 |
Industry
|
Main Industry Code &
Description |
Wholesale of hardware |
|
|
Supplier of stud bolts with markings,
wood, construction and self-tapping screws, blind rivets, nuts, washers,
plugs, anchoring and construction fittings. |
|
Secondary Industry Code &
Description |
- |
|
Other Industry Code &
Description |
- |
Event History
|
Date |
Description |
|
10/07/2013 |
Limit Change |
|
10/07/2013 |
Rating Change |
|
01/07/2013 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
21/12/2012 |
CHANGE OF BOARD OF DIRECTORS |
|
22/09/2012 |
CHANGE OF BOARD OF DIRECTORS |
|
06/08/2012 |
Limit Change |
|
06/08/2012 |
Rating Change |
|
02/08/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
26/07/2012 |
Annulment of approved annual accounts and reports |
|
09/07/2012 |
Limit Change |
|
09/07/2012 |
Rating Change |
|
04/07/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
|
04/10/2011 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
UK Pound |
1 |
Rs.101.11 |
|
Euro |
1 |
Rs.84.68 |
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.