|
Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
COOP NORGE HANDEL AS |
|
|
|
|
Formerly Known As : |
COOP NORGE AS |
|
|
|
|
Registered Office : |
Østre Aker vei 264, OSLO 0977 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
20.02.1995 |
|
|
|
|
Com. Reg. No.: |
961271460 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
·
Non-specialised wholesale of food ·
Wholesale of other household and personal goods |
|
|
|
|
No. of Employees : |
1,446 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Norway |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 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 |
COOP NORGE HANDEL AS |
Company number |
961271460 |
|
Address |
Østre Aker vei 264 |
|
|
|
City |
OSLO 0977 |
Legal form |
Limited company |
|
Website address |
E-mail address |
- |
|
|
Telephone Number |
00 47 22899595 |
Fax Number |
00 47 22899745 |
|
Registration date |
20/02/1995 |
Status |
Active |
|
Previous Name |
COOP NORGE AS |
Share capital |
750,000,000 |
|
Name change date |
14/12/2001 |
Currency |
- |
|
|
|
Number of employees |
1,446 |
Postal Address
|
Address |
City |
Postal Code |
|
Postboks 21 Haugenstua |
OSLO |
0915 |
Current Directors
|
Name |
Address |
Function |
|
Hognesaunvegen 70 STJØRDAL 7513 |
Deputy chairman |
|
|
Kortbølgen 11 B TROMSØ 9017 |
Board member(s) |
|
|
Nils Tollers Vei 4 OSLO 0851 |
Board member(s) |
|
|
Brinkvegen 47 TROMSØ 9012 |
Deputy board member/substitute |
|
|
Grenaderveien 15 SANDNES 4309 |
Board member(s) |
|
|
Grønlivegen 13 C PORSGRUNN 3922 |
Chairman of the board |
|
|
Langedalen 302 HAUKELAND 5268 |
Board member(s) |
|
|
Hyllavegen 93 INDERØY 7670 |
Deputy board member/substitute |
|
|
Havnegata 9 SANDNES 4306 |
General manager/CEO |
Other Company
Officials
No data exist
No Negative Information Found.
Shareholders
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
COOP NORGE SA |
100,000 |
100.0 |
N/a
Ultimate Holding
Company
|
Company Name |
Company Number |
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2012 |
27,376,000,000 |
279,000,000 |
1,690,000,000 |
|
2011 |
26,618,000,000 |
264,000,000 |
1,434,000,000 |
|
2010 |
25,963,000,000 |
249,000,000 |
1,224,000,000 |
|
2009 |
25,360,000,000 |
246,000,000 |
1,203,000,000 |
|
2008 |
24,071,000,000 |
275,000,000 |
|
Profit & Loss
Account
|
Financial Year |
2012 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Complete Accounts |
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Sales Revenue |
27,376,000,000 |
2.8 % |
26,618,000,000 |
2.5 % |
25,963,000,000 |
2.4 % |
25,360,000,000 |
5.4 % |
24,071,000,000 |
|
Other operating income |
2,689,000,000 |
8.8 % |
2,471,000,000 |
3.9 % |
2,379,000,000 |
1.5 % |
2,344,000,000 |
11.1 % |
2,110,000,000 |
|
Total Operating Income |
30,065,000,000 |
3.4 % |
29,089,000,000 |
2.6 % |
28,342,000,000 |
2.3 % |
27,704,000,000 |
5.8 % |
26,181,000,000 |
|
Total Operating Expenses |
29,753,000,000 |
3.3 % |
28,802,000,000 |
2.5 % |
28,088,000,000 |
2.4 % |
27,442,000,000 |
5.9 % |
25,924,000,000 |
|
Operating Profit |
312,000,000 |
8.7 % |
287,000,000 |
13.0 % |
254,000,000 |
-3.1 % |
262,000,000 |
1.9 % |
257,000,000 |
|
Wages & Salaries |
1,345,000,000 |
8.4 % |
1,241,000,000 |
3.4 % |
1,200,000,000 |
1.7 % |
1,180,000,000 |
9.3 % |
1,080,000,000 |
|
Depreciation |
116,000,000 |
-1.7 % |
118,000,000 |
-2.5 % |
121,000,000 |
2.5 % |
118,000,000 |
14.6 % |
103,000,000 |
|
Financial Income |
22,000,000 |
-50.0 % |
44,000,000 |
57.1 % |
28,000,000 |
250.0 % |
8,000,000 |
-85.2 % |
54,000,000 |
|
Financial Expenses |
55,000,000 |
-17.9 % |
67,000,000 |
103.0 % |
33,000,000 |
37.5 % |
24,000,000 |
-33.3 % |
36,000,000 |
|
Profit Before Tax |
279,000,000 |
5.7 % |
264,000,000 |
6.0 % |
249,000,000 |
1.2 % |
246,000,000 |
-10.5 % |
275,000,000 |
|
Tax |
-81,000,000 |
-2.5 % |
-79,000,000 |
-6.8 % |
-74,000,000 |
-4.2 % |
-71,000,000 |
9.0 % |
-78,000,000 |
|
Profit After Tax |
198,000,000 |
7.0 % |
185,000,000 |
5.7 % |
175,000,000 |
0.0 % |
175,000,000 |
-11.2 % |
197,000,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Result after Dividends |
198,000,000 |
7.0 % |
185,000,000 |
5.7 % |
175,000,000 |
0.0 % |
175,000,000 |
-11.2 % |
197,000,000 |
Balance Sheet
|
Financial Year |
2012 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Complete Accounts |
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Land & Buildings |
1,933,000,000 |
- |
0 |
-100.0 % |
975,000,000 |
12.1 % |
870,000,000 |
4.4 % |
833,000,000 |
|
Plant & Machinery |
206,000,000 |
- |
0 |
- |
0 |
- |
0 |
-100.0 % |
251,000,000 |
|
Other Tangible Assets |
30,000,000 |
-98.0 % |
1,537,000,000 |
556.8 % |
234,000,000 |
-15.5 % |
277,000,000 |
- |
0 |
|
Total Tangible Assets |
2,169,000,000 |
41.1 % |
1,537,000,000 |
27.1 % |
1,209,000,000 |
5.4 % |
1,147,000,000 |
5.8 % |
1,084,000,000 |
|
Intangible Assets |
29,000,000 |
-23.7 % |
38,000,000 |
-25.5 % |
51,000,000 |
75.9 % |
29,000,000 |
- |
0 |
|
Other Fixed Assets |
86,000,000 |
1.2 % |
85,000,000 |
51.8 % |
56,000,000 |
-17.4 % |
67,800,000 |
-29.4 % |
96,000,000 |
|
TOTAL FIXED ASSETS |
2,284,000,000 |
37.6 % |
1,660,000,000 |
26.1 % |
1,316,000,000 |
5.8 % |
1,243,800,000 |
5.4 % |
1,180,000,000 |
|
Inventories |
966,000,000 |
4.7 % |
923,000,000 |
11.3 % |
829,000,000 |
10.4 % |
751,000,000 |
-7.4 % |
811,000,000 |
|
Trade Receivables |
2,084,000,000 |
-18.1 % |
2,546,000,000 |
7.9 % |
2,360,000,000 |
3.3 % |
2,285,000,000 |
4.3 % |
2,191,000,000 |
|
Other Receivables |
404,000,000 |
14.1 % |
354,000,000 |
10.6 % |
320,000,000 |
27.4 % |
251,200,000 |
-4.8 % |
264,000,000 |
|
Cash & Bank Deposits |
495,000,000 |
319.5 % |
118,000,000 |
257.6 % |
33,000,000 |
-63.7 % |
91,000,000 |
23.0 % |
74,000,000 |
|
Other Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL CURRENT ASSETS |
3,949,000,000 |
0.2 % |
3,941,000,000 |
11.3 % |
3,542,000,000 |
4.8 % |
3,378,200,000 |
1.1 % |
3,340,000,000 |
|
TOTAL ASSETS |
6,233,000,000 |
11.3 % |
5,601,000,000 |
15.3 % |
4,858,000,000 |
5.1 % |
4,622,000,000 |
2.3 % |
4,520,000,000 |
|
Trade Creditors |
2,673,000,000 |
7.3 % |
2,490,000,000 |
-0.7 % |
2,507,000,000 |
10.9 % |
2,261,000,000 |
0.4 % |
2,253,000,000 |
|
Short Term Liabilities to Financial Institutions |
0 |
- |
0 |
-100.0 % |
11,000,000 |
-93.2 % |
162,000,000 |
- |
0 |
|
Short Term Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
920,000,000 |
8.5 % |
848,000,000 |
8.2 % |
784,000,000 |
-21.0 % |
992,000,000 |
1.4 % |
978,000,000 |
|
TOTAL CURRENT LIABILITIES |
3,593,000,000 |
7.6 % |
3,338,000,000 |
1.1 % |
3,302,000,000 |
-3.3 % |
3,415,000,000 |
5.7 % |
3,231,000,000 |
|
Long Term Liabilities to Financial Institutions |
0 |
- |
0 |
-100.0 % |
321,000,000 |
- |
0 |
- |
0 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
0 |
- |
0 |
- |
0 |
-100.0 % |
4,000,000 |
-42.9 % |
7,000,000 |
|
Other Long Term Liabilities |
950,000,000 |
14.6 % |
829,000,000 |
7,436.4 % |
11,000,000 |
- |
0 |
-100.0 % |
4,000,000 |
|
TOTAL LONG TERM LIABILITIES |
950,000,000 |
14.6 % |
829,000,000 |
149.7 % |
332,000,000 |
8,200.0 % |
4,000,000 |
-63.6 % |
11,000,000 |
|
TOTAL LIABILITIES |
4,543,000,000 |
9.0 % |
4,167,000,000 |
14.7 % |
3,634,000,000 |
6.3 % |
3,419,000,000 |
5.5 % |
3,242,000,000 |
|
Share Capital |
550,000,000 |
83.3 % |
300,000,000 |
200.0 % |
100,000,000 |
0.0 % |
100,000,000 |
0.0 % |
100,000,000 |
|
Share Premium Reserve |
325,000,000 |
0.0 % |
325,000,000 |
0.0 % |
325,000,000 |
0.0 % |
325,000,000 |
0.0 % |
325,000,000 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
718,000,000 |
1.4 % |
708,000,000 |
1.1 % |
700,000,000 |
-5.3 % |
739,000,000 |
-9.4 % |
816,000,000 |
|
Other Reserves |
97,000,000 |
-4.0 % |
101,000,000 |
2.0 % |
99,000,000 |
153.8 % |
39,000,000 |
5.4 % |
37,000,000 |
|
TOTAL EQUITY |
1,690,000,000 |
17.9 % |
1,434,000,000 |
17.2 % |
1,224,000,000 |
1.7 % |
1,203,000,000 |
-5.9 % |
1,278,000,000 |
Other Financials
|
Financial Year |
2012 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working Capital |
356,000,000 |
-41.0 % |
603,000,000 |
151.3 % |
240,000,000 |
752.2 % |
-36,800,000 |
-133.8 % |
109,000,000 |
|
Net Worth |
1,661,000,000 |
19.0 % |
1,396,000,000 |
19.0 % |
1,173,000,000 |
-0.1 % |
1,174,000,000 |
-8.1 % |
1,278,000,000 |
|
Capital Employed |
2,640,000,000 |
16.7 % |
2,263,000,000 |
45.4 % |
1,556,000,000 |
28.9 % |
1,207,000,000 |
-6.4 % |
1,289,000,000 |
Ratios
|
Financial Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Pre-Tax Profit Margin |
1.02 |
0.99 |
0.96 |
0.97 |
1.14 |
|
Return on Capital Employed |
10.57 |
11.67 |
16.00 |
20.38 |
21.33 |
|
Return on Total Assets Employed |
4.48 |
4.71 |
5.13 |
5.32 |
6.08 |
|
Return on Net Assets Employed |
16.51 |
18.41 |
20.34 |
20.45 |
21.52 |
|
Sales/Net Working Capital |
76.90 |
44.14 |
108.18 |
-689.13 |
220.83 |
|
Stock Turnover Ratio |
3.53 |
3.47 |
3.19 |
2.96 |
3.37 |
|
Debtor Days |
27.79 |
34.91 |
33.18 |
32.89 |
33.22 |
|
Creditor Days |
35.64 |
34.14 |
35.24 |
32.54 |
34.16 |
|
Current Ratio |
1.10 |
1.18 |
1.07 |
0.99 |
1.03 |
|
Liquidity Ratio/Acid Test |
0.83 |
0.90 |
0.82 |
0.77 |
0.78 |
|
Current Debt Ratio |
2.13 |
2.33 |
2.70 |
2.84 |
2.53 |
|
Solvency Ratio |
27.11 |
25.60 |
25.20 |
26.03 |
28.27 |
|
Equity in Percentage |
27.62 |
26.18 |
25.76 |
26.58 |
28.89 |
|
Total Debt Ratio |
2.69 |
2.91 |
2.97 |
2.84 |
2.54 |
N/a
Industry
|
Main Industry Code & Description |
Non-specialised wholesale of food |
|
Secondary Industry Code & Description |
Wholesale of other household and personal goods n.e.c. |
|
Other Industry Code & Description |
- |
Event History
|
Date |
Description |
|
17/02/2014 |
CHANGE OF BOARD OF DIRECTORS |
|
26/10/2013 |
CHANGE OF BOARD OF DIRECTORS |
|
29/08/2013 |
CHANGE OF BOARD OF DIRECTORS |
|
05/08/2013 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
05/08/2013 |
CHANGE OF CAPITAL |
|
02/07/2013 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
19/06/2013 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
08/08/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
07/07/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
07/07/2012 |
CHANGE OF CAPITAL |
|
26/01/2012 |
CHANGE OF CAPITAL |
|
26/01/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
07/01/2012 |
CHANGE OF CAPITAL |
|
07/01/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
07/01/2012 |
Execution of demerger |
|
03/11/2011 |
Decision to demerger |
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.