|
Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HELLY HANSEN AS |
|
|
|
|
Formerly Known As : |
HELLY HANSEN ASA |
|
|
|
|
Registered Office : |
Munkedamsveien 35, OSLO 0250 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
12.03.1995 |
|
|
|
|
Com. Reg. No.: |
912359999 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Wholesale of clothing |
|
|
|
|
No. of Employees : |
155 |
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.
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 30% 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 largest sovereign wealth fund,
valued at over $830 billion in January 2014 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
2010-13. Nevertheless, the government budget remains in surplus.
|
Source
: CIA |
|
Company name |
HELLY HANSEN AS |
Company number |
912359999 |
|
Address |
Munkedamsveien 35 |
|
|
|
City |
OSLO 0250 |
Legal form |
Limited company |
|
Website address |
E-mail address |
ann-magritt.hansen@hellyhansen.com |
|
|
Telephone Number |
00 47 69249000 |
Fax Number |
00 47 22836042 |
|
Registration date |
12/03/1995 |
Status |
Active |
|
Previous Name |
HELLY HANSEN ASA |
Share capital |
1,537,164 |
|
Name change date |
29/05/1997 |
Currency |
- |
|
Number of employees |
155 |
Postal Address
|
Address |
City |
Postal Code |
|
Postboks 1653 Vika |
OSLO |
0120 |
Ultimate Holding
Company
|
Company Name |
|
Company Number |
|
ALTOR FUND II GP LIMITED |
|
- |
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2012 |
838,000,000 |
-32,000,000 |
82,000,000 |
|
2011 |
807,000,000 |
78,000,000 |
115,000,000 |
|
2010 |
543,000,000 |
-196,000,000 |
38,000,000 |
|
2009 |
255,000,000 |
-44,000,000 |
-22,000,000 |
|
2008 |
256,000,000 |
-66,000,000 |
70,000,000 |
Industry
|
Main Industry Code & Description |
Wholesale of clothing |
|
Secondary Industry Code & Description |
- |
|
Other Industry Code & Description |
- |
Shareholders
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
HELLY HANSEN HOLDING AS |
1,537,160 |
100.0 |
|
SIXTEENMORONT CORP |
4 |
0.0 |
Current Directors
|
Name |
Address |
Function |
|
Brendsrudtoppen 70 ASKER 1385 |
Board member(s) |
|
|
Kordahlveien 30 SPERREBOTN 1591 |
Deputy board member/substitute |
|
|
Solefallsveien 18 MOSS 1519 |
Board member(s) |
|
|
Ekholt Hageby 6 A MOSS 1526 |
Board member(s) |
|
|
10137 Ne, 62nd Street Kirkland 98033,wa |
Board member(s) |
|
|
Østeråsen 47 ØSTERÅS 1361 |
Board member(s) |
|
|
Balders Gate 13 A OSLO 0263 |
Chairman of the board |
|
|
Tamburveien 3 OSLO 0485 |
Deputy board member/substitute |
|
|
Balders Gate 13 A OSLO 0263 |
General manager/CEO |
Other Company
Officials
No data exist
|
2012 |
2011 |
2010 |
2009 |
2008 |
|||||
|
Currency |
NOK |
NOK |
NOK |
NOK |
NOK |
||||
|
Consolidated Accounts |
No |
No |
No |
No |
No |
||||
|
Complete Accounts |
No |
Yes |
Yes |
No |
No |
||||
|
Sales Revenue |
838,000,000 |
3.8 % |
807,000,000 |
48.6 % |
543,000,000 |
112.9 % |
255,000,000 |
-0.4 % |
256,000,000 |
|
Other operating income |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Operating Income |
838,000,000 |
3.8 % |
807,000,000 |
48.6 % |
543,000,000 |
112.9 % |
255,000,000 |
-0.4 % |
256,000,000 |
|
Total Operating Expenses |
782,000,000 |
7.1 % |
730,000,000 |
38.3 % |
528,000,000 |
83.3 % |
288,000,000 |
-1.7 % |
293,000,000 |
|
Operating Profit |
56,000,000 |
-27.3 % |
77,000,000 |
413.3 % |
15,000,000 |
145.5 % |
-33,000,000 |
10.8 % |
-37,000,000 |
|
Wages & Salaries |
105,000,000 |
1.0 % |
104,000,000 |
2.0 % |
102,000,000 |
37.8 % |
74,000,000 |
12.1 % |
66,000,000 |
|
Depreciation |
15,000,000 |
7.1 % |
14,000,000 |
-22.2 % |
18,000,000 |
63.6 % |
11,000,000 |
10.0 % |
10,000,000 |
|
Financial Income |
14,000,000 |
-64.1 % |
39,000,000 |
254.5 % |
11,000,000 |
-57.7 % |
26,000,000 |
13.0 % |
23,000,000 |
|
Financial Expenses |
102,000,000 |
168.4 % |
38,000,000 |
-82.9 % |
222,000,000 |
500.0 % |
37,000,000 |
-28.8 % |
52,000,000 |
|
Profit Before Tax |
-32,000,000 |
-141.0 % |
78,000,000 |
139.8 % |
-196,000,000 |
-345.5 % |
-44,000,000 |
33.3 % |
-66,000,000 |
|
Tax |
-3,000,000 |
-200.0 % |
-1,000,000 |
87.5 % |
-8,000,000 |
-166.7 % |
-3,000,000 |
0.0 % |
-3,000,000 |
|
Profit After Tax |
-35,000,000 |
-145.5 % |
77,000,000 |
137.7 % |
-204,000,000 |
-334.0 % |
-47,000,000 |
31.9 % |
-69,000,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Result after Dividends |
-35,000,000 |
-145.5 % |
77,000,000 |
137.7 % |
-204,000,000 |
-334.0 % |
-47,000,000 |
31.9 % |
-69,000,000 |
|
2012 |
2011 |
2010 |
2009 |
2008 |
|||||
|
Currency |
NOK |
NOK |
NOK |
NOK |
NOK |
||||
|
Consolidated Accounts |
No |
No |
No |
No |
No |
||||
|
Complete Accounts |
No |
Yes |
Yes |
No |
No |
||||
|
Land & Buildings |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Plant & Machinery |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Tangible Assets |
24,000,000 |
-14.3 % |
28,000,000 |
-24.3 % |
37,000,000 |
2.8 % |
36,000,000 |
20.0 % |
30,000,000 |
|
Total Tangible Assets |
24,000,000 |
-14.3 % |
28,000,000 |
-24.3 % |
37,000,000 |
2.8 % |
36,000,000 |
20.0 % |
30,000,000 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Fixed Assets |
365,000,000 |
-3.7 % |
379,000,000 |
20.3 % |
315,000,000 |
-24.5 % |
417,000,000 |
14.6 % |
364,000,000 |
|
TOTAL FIXED ASSETS |
389,000,000 |
-4.4 % |
407,000,000 |
15.6 % |
352,000,000 |
-22.3 % |
453,000,000 |
15.0 % |
394,000,000 |
|
Inventories |
8,000,000 |
-94.7 % |
150,000,000 |
66.7 % |
90,000,000 |
2,900.0 % |
3,000,000 |
- |
0 |
|
Trade Receivables |
81,000,000 |
-21.4 % |
103,000,000 |
194.3 % |
35,000,000 |
191.7 % |
12,000,000 |
50.0 % |
8,000,000 |
|
Other Receivables |
20,000,000 |
-87.2 % |
156,000,000 |
38.1 % |
113,000,000 |
927.3 % |
11,000,000 |
-77.1 % |
48,000,000 |
|
Cash & Bank Deposits |
0 |
- |
0 |
- |
0 |
-100.0 % |
6,000,000 |
-80.6 % |
31,000,000 |
|
Other Current Assets |
275,000,000 |
4.2 % |
264,000,000 |
-9.0 % |
290,000,000 |
84.7 % |
157,000,000 |
-29.6 % |
223,000,000 |
|
TOTAL CURRENT ASSETS |
384,000,000 |
-42.9 % |
673,000,000 |
27.5 % |
528,000,000 |
179.4 % |
189,000,000 |
-39.0 % |
310,000,000 |
|
TOTAL ASSETS |
773,000,000 |
-28.4 % |
1,080,000,000 |
22.7 % |
880,000,000 |
37.1 % |
642,000,000 |
-8.8 % |
704,000,000 |
|
Trade Creditors |
93,000,000 |
-4.1 % |
97,000,000 |
-43.9 % |
173,000,000 |
54.5 % |
112,000,000 |
-37.8 % |
180,000,000 |
|
Short Term Liabilities to Financial Institutions |
153,000,000 |
-44.0 % |
273,000,000 |
150.5 % |
109,000,000 |
73.0 % |
63,000,000 |
- |
0 |
|
Short Term Liabilities to Group |
62,000,000 |
-52.7 % |
131,000,000 |
-53.9 % |
284,000,000 |
250.6 % |
81,000,000 |
88.4 % |
43,000,000 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
19,000,000 |
-64.2 % |
53,000,000 |
47.2 % |
36,000,000 |
16.1 % |
31,000,000 |
-77.7 % |
139,000,000 |
|
TOTAL CURRENT LIABILITIES |
327,000,000 |
-41.0 % |
554,000,000 |
-8.0 % |
602,000,000 |
109.8 % |
287,000,000 |
-20.7 % |
362,000,000 |
|
Long Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
8,000,000 |
0.0 % |
8,000,000 |
0.0 % |
8,000,000 |
0.0 % |
8,000,000 |
-11.1 % |
9,000,000 |
|
Other Long Term Liabilities |
356,000,000 |
-11.7 % |
403,000,000 |
73.7 % |
232,000,000 |
-37.1 % |
369,000,000 |
39.8 % |
264,000,000 |
|
TOTAL LONG TERM LIABILITIES |
364,000,000 |
-11.4 % |
411,000,000 |
71.3 % |
240,000,000 |
-36.3 % |
377,000,000 |
38.1 % |
273,000,000 |
|
TOTAL LIABILITIES |
691,000,000 |
-28.4 % |
965,000,000 |
14.6 % |
842,000,000 |
26.8 % |
664,000,000 |
4.6 % |
635,000,000 |
|
Share Capital |
2,000,000 |
0.0 % |
2,000,000 |
0.0 % |
2,000,000 |
100.0 % |
1,000,000 |
0.0 % |
1,000,000 |
|
Share Premium Reserve |
182,000,000 |
0.0 % |
182,000,000 |
0.0 % |
182,000,000 |
- |
0 |
- |
0 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
-184,000,000 |
-21.9 % |
-151,000,000 |
33.8 % |
-228,000,000 |
-891.3 % |
-23,000,000 |
-133.3 % |
69,000,000 |
|
Other Reserves |
82,000,000 |
0.0 % |
82,000,000 |
0.0 % |
82,000,000 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
82,000,000 |
-28.7 % |
115,000,000 |
202.6 % |
38,000,000 |
272.7 % |
-22,000,000 |
-131.4 % |
70,000,000 |
|
2012 |
2011 |
2010 |
2009 |
2008 |
|||||
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working Capital |
57,000,000 |
-52.1 % |
119,000,000 |
260.8 % |
-74,000,000 |
24.5 % |
-98,000,000 |
-88.5 % |
-52,000,000 |
|
Net Worth |
82,000,000 |
-28.7 % |
115,000,000 |
202.6 % |
38,000,000 |
272.7 % |
-22,000,000 |
-131.4 % |
70,000,000 |
|
Capital Employed |
446,000,000 |
-15.2 % |
526,000,000 |
89.2 % |
278,000,000 |
-21.7 % |
355,000,000 |
3.5 % |
343,000,000 |
|
2012 |
2011 |
2010 |
2009 |
2008 |
|
|
Pre-Tax Profit Margin |
-3.82 |
9.67 |
-36.10 |
-17.25 |
-25.78 |
|
Return on Capital Employed |
-7.17 |
14.83 |
-70.50 |
-12.39 |
-19.24 |
|
Return on Total Assets Employed |
-4.14 |
7.22 |
-22.27 |
-6.85 |
-9.38 |
|
Return on Net Assets Employed |
-39.02 |
67.83 |
-515.79 |
200.00 |
-94.29 |
|
Sales/Net Working Capital |
14.70 |
6.78 |
-7.34 |
-2.60 |
-4.92 |
|
Stock Turnover Ratio |
0.95 |
18.59 |
16.57 |
1.18 |
0.00 |
|
Debtor Days |
35.28 |
46.59 |
23.53 |
17.18 |
11.41 |
|
Creditor Days |
40.51 |
43.87 |
116.29 |
160.31 |
256.64 |
|
Current Ratio |
1.17 |
1.21 |
0.88 |
0.66 |
0.86 |
|
Liquidity Ratio/Acid Test |
1.15 |
0.94 |
0.73 |
0.65 |
0.86 |
|
Current Debt Ratio |
3.99 |
4.82 |
15.84 |
-13.05 |
5.17 |
|
Solvency Ratio |
10.61 |
10.65 |
4.32 |
-3.43 |
9.94 |
|
Equity in Percentage |
20.10 |
16.41 |
6.73 |
-9.78 |
20.59 |
|
Total Debt Ratio |
8.43 |
8.39 |
22.16 |
-30.18 |
9.07 |
Comments - not complete accounts
|
2012 |
Profit auditor specifies in his report does not match the net income
in the income statement |
|
2009 |
Profit auditor specifies in his report does not match the net income
in the income statement |
|
2008 |
Profit auditor specifies in his report does not match the net income
in the income statement |
Event History
|
Date |
Description |
|
23/01/2014 |
CHANGE OF BOARD OF DIRECTORS |
|
20/01/2014 |
CHANGE OF BOARD OF DIRECTORS |
|
03/10/2013 |
CHANGE OF AUDITOR |
|
19/09/2013 |
CHANGE OF AUDITOR |
|
19/06/2013 |
CHANGE OF BOARD OF DIRECTORS |
|
15/06/2013 |
CHANGE OF BUSINESS ADDRESS |
|
05/06/2013 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
05/01/2013 |
Correction of aim/purpose |
|
31/12/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
31/12/2012 |
CHANGE OF MISSION/BUSINESS/INDUSTRY |
|
03/11/2012 |
CHANGE OF MISSION/BUSINESS/INDUSTRY |
|
03/11/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
03/11/2012 |
CHANGE OF SIGNATURE |
|
09/06/2012 |
CHANGE OF BUSINESS ADDRESS |
|
09/06/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
09/06/2012 |
CHANGE OF BOARD OF DIRECTORS |
|
24/05/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
16/05/2012 |
Mandatory notifiable agreement |
|
16/05/2012 |
CHANGE OF BUSINESS ADDRESS |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.