|
Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
IDUN INDUSTRI AS |
|
|
|
|
Registered Office : |
Hvamveien 1 Skjetten 2013 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
12.03.1995 |
|
|
|
|
Com. Reg. No.: |
959231591 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees |
138 |
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, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 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 |
IDUN INDUSTRI AS |
Company Number |
959231591 |
|
Company name |
IDUN INDUSTRI AS |
Company number |
959231591 |
|
Address |
Hvamveien 1 |
Safe number |
- |
|
City |
SKJETTEN 2013 |
Legal form |
Limited company |
|
Website address |
E-mail address |
- |
|
|
Telephone Number
|
00 47 22094800 |
Fax Number |
00 47 22094801 |
|
Registration
date |
12/03/1995 |
Status |
Active |
|
Previous Name |
- |
Share capital |
13,500,000 |
|
Name change date
|
- |
Currency |
- |
|
Number of
employees |
138 |
|
Address |
City |
Postal Code |
|
Postboks 144 |
SKJETTEN |
2026 |
Year to Date Sales Revenue Profit Before Tax Total Equity
2012 728,404,000 45,650,000 116,077,000
2011 721,338,000 34,018,000 98,826,000
2010 662,937,000 46,346,000 95,795,000
2009 592,419,000 29,662,000 83,239,000
2008 577,887,000 24,291,000 91,080,000
Main Industry Code & Description Manufacture of grain mill products
Secondary Industry
Code & Manufacture
of cocoa
Description
Other Industry
Code & Description Manufacture of margarine and similar edible fats
Shareholder Name Number of Shares Percentage Share
ORKLA BRANDS AS 13,500 100.0
Name Address
Function
Voll, Jone Mølleveien 13 OPPEGÅRD 1415 General manager/CEO
Liodden, Halvor Otto Ruges Vei 55 ØSTERÅS 1361 Board member(s)
Steiro, Marit Agna Hareveien 1 C TÅRNÅSEN 1413 Board member(s)
Solbakken, Terje Granholtet 4 SOFIEMYR 1412 Board member(s)
Albrigtsen, Rune Kokstadhagan 2 GJERDRUM 2022 Board member(s)
Eikeland, Pål Frydenbergveien 32 OPPEGÅRD 1415 Chairman of the board
Olsson, Mats Erik Babordvägen 9 25285 Helsingborg Board member(s)
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 |
Yes |
Yes |
Yes |
Yes |
Yes |
||||
|
Sales Revenue |
728,404,000 |
1.0 % |
721,338,000 |
8.8 % |
662,937,000 |
11.9 % |
592,419,000 |
2.5 % |
577,887,000 |
|
Other operating income |
7,646,000 |
-58.5 % |
18,433,000 |
346.5 % |
4,128,000 |
446.0 % |
756,000 |
35.5 % |
558,000 |
|
Total Operating Income |
736,050,000 |
-0.5 % |
739,771,000 |
10.9 % |
667,065,000 |
12.5 % |
593,175,000 |
2.5 % |
578,445,000 |
|
Total Operating Expenses |
704,538,000 |
0.9 % |
698,076,000 |
11.7 % |
624,678,000 |
11.7 % |
559,317,000 |
2.9 % |
543,372,000 |
|
Operating Profit |
31,512,000 |
-24.4 % |
41,695,000 |
-1.6 % |
42,387,000 |
25.2 % |
33,858,000 |
-3.5 % |
35,073,000 |
|
Wages & Salaries |
82,099,000 |
7.1 % |
76,631,000 |
2.4 % |
74,806,000 |
7.4 % |
69,676,000 |
4.4 % |
66,768,000 |
|
Depreciation |
10,543,000 |
2.6 % |
10,272,000 |
9.4 % |
9,388,000 |
-0.4 % |
9,421,000 |
-1.2 % |
9,538,000 |
|
Financial Income |
23,002,000 |
435.6 % |
4,295,000 |
-60.4 % |
10,834,000 |
147.5 % |
4,377,000 |
-51.0 % |
8,940,000 |
|
Financial Expenses |
8,864,000 |
-26.0 % |
11,972,000 |
74.1 % |
6,875,000 |
-19.8 % |
8,573,000 |
-56.5 % |
19,722,000 |
|
Profit Before Tax |
45,650,000 |
34.2 % |
34,018,000 |
-26.6 % |
46,346,000 |
56.2 % |
29,662,000 |
22.1 % |
24,291,000 |
|
Tax |
-7,601,000 |
23.1 % |
-9,882,000 |
8.4 % |
-10,792,000 |
-29.2 % |
-8,353,000 |
-11.0 % |
-7,522,000 |
|
Profit After Tax |
38,049,000 |
57.6 % |
24,136,000 |
-32.1 % |
35,554,000 |
66.8 % |
21,309,000 |
27.1 % |
16,769,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Result after Dividends |
38,049,000 |
57.6 % |
24,136,000 |
-32.1 % |
35,554,000 |
66.8 % |
21,309,000 |
27.1 % |
16,769,000 |
|
2012 |
2011 |
2010 |
2009 |
2008 |
|||||
|
Currency |
NOK |
NOK |
NOK |
NOK |
NOK |
||||
|
Consolidated Accounts |
No |
No |
No |
No |
No |
||||
|
Complete Accounts |
Yes |
Yes |
Yes |
Yes |
Yes |
||||
|
Land & Buildings |
16,164,000 |
0.2 % |
16,124,000 |
-16.2 % |
19,243,000 |
-0.1 % |
19,262,000 |
2.0 % |
18,885,000 |
|
Plant & Machinery |
26,198,000 |
25.0 % |
20,951,000 |
0.7 % |
20,798,000 |
-10.1 % |
23,130,000 |
-1.2 % |
23,409,000 |
|
Other Tangible Assets |
8,367,000 |
-45.8 % |
15,450,000 |
43.6 % |
10,760,000 |
-6.4 % |
11,494,000 |
-22.3 % |
14,787,000 |
|
Total Tangible Assets |
50,729,000 |
-3.4 % |
52,525,000 |
3.4 % |
50,801,000 |
-5.7 % |
53,886,000 |
-5.6 % |
57,081,000 |
|
Intangible Assets |
55,392,000 |
0.0 % |
55,392,000 |
14.9 % |
48,228,000 |
420.9 % |
9,258,000 |
13.2 % |
8,182,000 |
|
Other Fixed Assets |
138,699,000 |
3.6 % |
133,848,000 |
17.1 % |
114,303,000 |
-15.9 % |
135,850,000 |
45.0 % |
93,701,000 |
|
TOTAL FIXED ASSETS |
244,820,000 |
1.3 % |
241,765,000 |
13.3 % |
213,332,000 |
7.2 % |
198,994,000 |
25.2 % |
158,964,000 |
|
Inventories |
57,135,000 |
-16.0 % |
68,049,000 |
18.7 % |
57,346,000 |
25.2 % |
45,813,000 |
-15.7 % |
54,322,000 |
|
Trade Receivables |
82,684,000 |
-1.3 % |
83,791,000 |
26.1 % |
66,436,000 |
41.9 % |
46,835,000 |
9.4 % |
42,826,000 |
|
Other Receivables |
31,201,000 |
259.7 % |
8,674,000 |
-52.2 % |
18,156,000 |
189.2 % |
6,277,000 |
-32.9 % |
9,348,000 |
|
Cash & Bank Deposits |
44,927,000 |
1,238.7 % |
3,356,000 |
-82.0 % |
18,617,000 |
-7.3 % |
20,091,000 |
52.0 % |
13,216,000 |
|
Other Current Assets |
0 |
- |
0 |
-100.0 % |
4,590,000 |
243.3 % |
1,337,000 |
-88.9 % |
12,086,000 |
|
TOTAL CURRENT ASSETS |
215,947,000 |
31.8 % |
163,870,000 |
-0.8 % |
165,145,000 |
37.2 % |
120,353,000 |
-8.7 % |
131,798,000 |
|
TOTAL ASSETS |
460,767,000 |
13.6 % |
405,635,000 |
7.2 % |
378,477,000 |
18.5 % |
319,347,000 |
9.8 % |
290,762,000 |
|
Trade Creditors |
85,816,000 |
27.5 % |
67,318,000 |
36.5 % |
49,314,000 |
51.3 % |
32,599,000 |
-22.3 % |
41,966,000 |
|
Short Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Short Term Liabilities to Group |
28,634,000 |
22.0 % |
23,470,000 |
-35.3 % |
36,263,000 |
22.2 % |
29,681,000 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
21,226,000 |
12.5 % |
18,872,000 |
14.3 % |
16,514,000 |
-72.6 % |
60,238,000 |
58.2 % |
38,085,000 |
|
TOTAL CURRENT LIABILITIES |
135,676,000 |
23.7 % |
109,660,000 |
7.4 % |
102,091,000 |
-16.7 % |
122,518,000 |
53.0 % |
80,051,000 |
|
Long Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
6,563,000 |
-26.4 % |
8,917,000 |
-22.0 % |
11,433,000 |
-11.2 % |
12,879,000 |
-8.5 % |
14,068,000 |
|
Other Long Term Liabilities |
202,451,000 |
7.6 % |
188,232,000 |
11.3 % |
169,158,000 |
68.0 % |
100,711,000 |
-4.6 % |
105,563,000 |
|
TOTAL LONG TERM LIABILITIES |
209,014,000 |
6.0 % |
197,149,000 |
9.2 % |
180,591,000 |
59.0 % |
113,590,000 |
-5.0 % |
119,631,000 |
|
TOTAL LIABILITIES |
344,690,000 |
12.3 % |
306,809,000 |
8.5 % |
282,682,000 |
19.7 % |
236,108,000 |
18.2 % |
199,682,000 |
|
Share Capital |
13,500,000 |
0.0 % |
13,500,000 |
0.0 % |
13,500,000 |
0.0 % |
13,500,000 |
0.0 % |
13,500,000 |
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
102,577,000 |
20.2 % |
85,326,000 |
3.7 % |
82,295,000 |
18.0 % |
69,739,000 |
-10.1 % |
77,580,000 |
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
116,077,000 |
17.5 % |
98,826,000 |
3.2 % |
95,795,000 |
15.1 % |
83,239,000 |
-8.6 % |
91,080,000 |
|
2012 |
2011 |
2010 |
2009 |
2008 |
|||||
|
Total Exports |
28,426,000 |
7.0 % |
26,571,000 |
-14.5 % |
31,095,000 |
-15.4 % |
36,777,000 |
- |
- |
|
Working Capital |
80,271,000 |
48.1 % |
54,210,000 |
-14.0 % |
63,054,000 |
3,012.4 % |
-2,165,000 |
-104.2 % |
51,747,000 |
|
Net Worth |
60,685,000 |
39.7 % |
43,434,000 |
-8.7 % |
47,567,000 |
-35.7 % |
73,981,000 |
-10.8 % |
82,898,000 |
|
Capital Employed |
325,091,000 |
9.8 % |
295,975,000 |
7.1 % |
276,386,000 |
40.4 % |
196,829,000 |
-6.6 % |
210,711,000 |
|
2012 |
2011 |
2010 |
2009 |
2008 |
|
|
Pre-Tax Profit Margin |
6.27 |
4.72 |
6.99 |
5.01 |
4.20 |
|
Return on Capital Employed |
14.04 |
11.49 |
16.77 |
15.07 |
11.53 |
|
Return on Total Assets Employed |
9.91 |
8.39 |
12.25 |
9.29 |
8.35 |
|
Return on Net Assets Employed |
39.33 |
34.42 |
48.38 |
35.63 |
26.67 |
|
Sales/Net Working Capital |
9.07 |
13.31 |
10.51 |
-273.63 |
11.17 |
|
Stock Turnover Ratio |
7.84 |
9.43 |
8.65 |
7.73 |
9.40 |
|
Debtor Days |
41.43 |
42.40 |
36.58 |
28.86 |
27.05 |
|
Creditor Days |
43.00 |
34.06 |
27.15 |
20.08 |
26.51 |
|
Current Ratio |
1.59 |
1.49 |
1.62 |
0.98 |
1.65 |
|
Liquidity Ratio/Acid Test |
1.17 |
0.87 |
1.06 |
0.61 |
0.97 |
|
Current Debt Ratio |
1.17 |
1.11 |
1.07 |
1.47 |
0.88 |
|
Solvency Ratio |
25.19 |
24.36 |
25.31 |
26.07 |
31.32 |
|
Equity in Percentage |
43.53 |
45.67 |
44.36 |
47.77 |
48.22 |
|
Total Debt Ratio |
2.97 |
3.10 |
2.95 |
2.84 |
2.19 |
|
Date |
Description |
|
01/07/2013 |
Limit Change |
|
29/06/2013 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
25/07/2012 |
Limit Change |
|
25/07/2012 |
Rating Change |
|
23/07/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
28/06/2012 |
CHANGE OF BOARD OF DIRECTORS |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
|
19/11/2011 |
CHANGE OF BOARD OF DIRECTORS |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.