|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
BAUMARINE AS |
|
|
|
|
Registered Office : |
Drammensveien 260, OSLO 0283 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
13.08.1998 |
|
|
|
|
Com. Reg. No.: |
979964684 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Subject is engaged in Freight ocean transport |
|
|
|
|
No of Employees : |
0 |
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 – 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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
BAUMARINE
AS |
Company Number
|
979964684
|
|
Company
name |
BAUMARINE
AS |
Company
number |
979964684
|
|
Address |
Drammensveien
260 |
Safe
number |
- |
|
City |
OSLO 0283
|
Legal
form |
Limited
company |
|
Website
address |
E-mail
address |
accounting@klaveness.com
|
|
|
Telephone
Number |
00 47
22526000 |
Fax
Number |
00 47
22526740 |
|
Registration
date |
13/08/1998
|
Status |
Active |
|
Previous
Name |
- |
Share
capital |
100,000 |
|
Name
change date |
- |
Currency |
- |
|
|
|
Number of
employees |
0 |
Current Directors
|
Name |
Address |
Function |
|
Mikjelsbakken 7 C OSLO 0378 |
Board
member(s) |
|
|
Bekkeliveien 7 OSLO 0375 |
Chairman
of the board |
|
|
Astrids
Vei 10 A OSLO 0276 |
Board
member(s) |
|
|
Hosletoppen 17 HOSLE 1362 |
General
manager/CEO |
Other Company Officials
No data exist.
No negative information found.
Shareholders
|
Shareholder
Name |
Number of
Shares |
Percentage
Share |
|
REDERIAKSJESELSKAPET
TORVALD KLAVENESS |
1,000 |
100.0 |
N/a
Ultimate Holding Company
|
Company
Name |
Company
Number |
View
linked companies outside this company’s group structure |
|
1 companies in 1 countries. Click here to visit
linked companies |
Key Financials
|
Year to
Date |
Sales
Revenue |
Profit
Before Tax |
Total
Equity |
|
2012 |
183,644,000
|
0 |
68,000 |
|
2011 |
184,522,000
|
0 |
17,000 |
|
2010 |
273,095,000
|
0 |
17,000 |
|
2009 |
0 |
0 |
17,000 |
|
2008 |
0 |
0 |
100,000 |
Profit & Loss Account
|
Financial
Year |
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 |
183,644,000
|
-0.5 % |
184,522,000
|
-32.4 % |
273,095,000
|
- |
0 |
- |
0 |
|
Other
operating income |
0 |
- |
0 |
- |
0 |
-100.0 % |
157,219,000
|
-95.9 % |
3,822,445,000
|
|
Total
Operating Income |
183,644,000
|
-0.5 % |
184,522,000
|
-32.4 % |
273,095,000
|
73.7 % |
157,219,000
|
-95.9 % |
3,822,445,000
|
|
Total
Operating Expenses |
183,401,000
|
-0.5 % |
184,376,000
|
-32.5 % |
273,063,000
|
73.9 % |
157,041,000
|
-95.9 % |
3,822,587,000
|
|
Operating
Profit |
244,000 |
67.1 % |
146,000 |
356.3 % |
32,000 |
-81.9 % |
177,000 |
224.6 % |
-142,000 |
|
Wages
& Salaries |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Depreciation
|
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial
Income |
0 |
-100.0 % |
30,000 |
-61.5 % |
78,000 |
2,500.0 %
|
3,000 |
-99.8 % |
1,399,000
|
|
Financial
Expenses |
244,000 |
39.4 % |
175,000 |
59.1 % |
110,000 |
-39.2 % |
181,000 |
-85.6 % |
1,257,000
|
|
Profit
Before Tax |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tax |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Profit
After Tax |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Extraordinary
Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net
Result after Dividends |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
Balance Sheet
|
Financial
Year |
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 |
0 |
- |
0 |
- |
0 |
- |
0 |
-100.0 % |
15,680,000
|
|
Plant
& Machinery |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other
Tangible Assets |
37,417,000
|
886.2 % |
3,794,000
|
-32.5 % |
5,620,000
|
- |
0 |
- |
0 |
|
Total
Tangible Assets |
37,417,000
|
886.2 % |
3,794,000
|
-32.5 % |
5,620,000
|
- |
0 |
-100.0 % |
15,680,000
|
|
Intangible
Assets |
52,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other
Fixed Assets |
-1,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL
FIXED ASSETS |
37,468,000
|
887.6 % |
3,794,000
|
-32.5 % |
5,620,000
|
- |
0 |
-100.0 % |
15,680,000
|
|
Inventories
|
0 |
- |
0 |
- |
0 |
-100.0 % |
1,892,000
|
- |
0 |
|
Trade
Receivables |
5,100,000
|
-83.8 % |
31,448,000
|
123.6 % |
14,067,000
|
-34.3 % |
21,398,000
|
-79.4 % |
103,658,000
|
|
Other
Receivables |
3,207,000
|
-18.3 % |
3,927,000
|
-18.0 % |
4,790,000
|
294.2 % |
1,215,000
|
-92.2 % |
15,633,000
|
|
Cash
& Bank Deposits |
0 |
- |
0 |
- |
0 |
- |
0 |
-100.0 % |
9,540,000
|
|
Other
Current Assets |
2,006,000
|
- |
0 |
- |
0 |
-100.0 % |
3,741,000
|
601.9 % |
533,000 |
|
TOTAL
CURRENT ASSETS |
10,313,000
|
-70.8 % |
35,375,000
|
87.6 % |
18,857,000
|
-33.2 % |
28,246,000
|
-78.2 % |
129,364,000
|
|
TOTAL
ASSETS |
47,781,000
|
22.0 % |
39,169,000
|
60.0 % |
24,477,000
|
-13.3 % |
28,246,000
|
-80.5 % |
145,044,000
|
|
Trade
Creditors |
6,616,000
|
-35.6 % |
10,273,000
|
105.0 % |
5,010,000
|
-18.1 % |
6,120,000
|
-88.2 % |
52,060,000
|
|
Short
Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
-100.0 % |
3,384,000
|
-94.3 % |
59,551,000
|
|
Short
Term Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other
Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous
Current Liabilities |
41,097,000
|
42.3 % |
28,879,000
|
48.5 % |
19,450,000
|
3.9 % |
18,725,000
|
-43.8 % |
33,333,000
|
|
TOTAL
CURRENT LIABILITIES |
47,713,000
|
21.9 % |
39,152,000
|
60.1 % |
24,460,000
|
-13.4 % |
28,229,000
|
-80.5 % |
144,944,000
|
|
Long Term
Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other
Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term
Pension Commitments |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other
Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL
LONG TERM LIABILITIES |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL LIABILITIES
|
47,713,000
|
21.9 % |
39,152,000
|
60.1 % |
24,460,000
|
-13.4 % |
28,229,000
|
-80.5 % |
144,944,000
|
|
Share
Capital |
14,000 |
0.0 % |
14,000 |
0.0 % |
14,000 |
0.0 % |
14,000 |
-86.0 % |
100,000 |
|
Share Premium
Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation
Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
Retained Earnings |
54,000 |
2,600.0 %
|
2,000 |
-33.3 % |
3,000 |
0.0 % |
3,000 |
- |
0 |
|
Other
Reserves |
0 |
-100.0 % |
1,000 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL
EQUITY |
68,000 |
300.0 % |
17,000 |
0.0 % |
17,000 |
0.0 % |
17,000 |
-83.0 % |
100,000 |
Other Financials
|
Financial
Year |
2012 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
|
Total
Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working
Capital |
-37,400,000
|
-890.2 % |
-3,777,000
|
32.6 % |
-5,603,000
|
-33,058.8
% |
17,000 |
100.1 % |
-15,580,000
|
|
Net Worth
|
16,000 |
-5.9 % |
17,000 |
0.0 % |
17,000 |
0.0 % |
17,000 |
-83.0 % |
100,000 |
|
Capital
Employed |
68,000 |
300.0 % |
17,000 |
0.0 % |
17,000 |
0.0 % |
17,000 |
-83.0 % |
100,000 |
Ratios
|
Financial
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Pre-Tax
Profit Margin |
0.00 |
0.00 |
0.00 |
- |
- |
|
Return on
Capital Employed |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Return on
Total Assets Employed |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Return on
Net Assets Employed |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Sales/Net
Working Capital |
-4.91 |
-48.85 |
-48.74 |
0.00 |
0.00 |
|
Stock
Turnover Ratio |
0.00 |
0.00 |
0.00 |
- |
- |
|
Debtor
Days |
10.14 |
62.21 |
18.80 |
- |
- |
|
Creditor
Days |
13.15 |
20.32 |
6.70 |
- |
- |
|
Current
Ratio |
0.22 |
0.90 |
0.77 |
1.00 |
0.89 |
|
Liquidity
Ratio/Acid Test |
0.22 |
0.90 |
0.77 |
0.93 |
0.89 |
|
Current
Debt Ratio |
701.66 |
2,303.06 |
1,438.82 |
1,660.53 |
1,449.44 |
|
Solvency
Ratio |
0.14 |
0.04 |
0.07 |
0.06 |
0.07 |
|
Equity in
Percentage |
0.14 |
0.04 |
0.07 |
0.06 |
0.07 |
|
Total
Debt Ratio |
701.66 |
2,303.06 |
1,438.82 |
1,660.53 |
1,449.44 |
N/a
Postal Address
|
Address |
City |
Postal
Code |
|
Postboks 182 Skøyen |
OSLO |
0212 |
Industry
|
Main
Industry Code & Description |
Freight
ocean transport |
|
Secondary
Industry Code & Description |
- |
|
Other
Industry Code & Description |
- |
Event History
|
Date |
Description
|
|
01/08/2013
|
Rating
Change |
|
23/07/2013
|
APPROVED
END OF YEAR REPORT AND ACCOUNTS |
|
24/11/2012
|
CHANGE OF
GENERAL MANAGER |
|
13/10/2012
|
CHANGE OF
BOARD OF DIRECTORS |
|
12/07/2012
|
Rating
Change |
|
09/07/2012
|
APPROVED END
OF YEAR REPORT AND ACCOUNTS |
|
24/01/2012
|
CHANGE OF
GENERAL MANAGER |
|
24/01/2012
|
CHANGE OF
BOARD OF DIRECTORS |
|
16/12/2011
|
CHANGE OF
BUSINESS ADDRESS |
|
06/12/2011
|
CHANGE OF
BOARD OF DIRECTORS |
|
23/11/2011
|
Limit
Change |
|
23/11/2011
|
Rating
Change |
|
07/09/2011
|
CHANGE OF
BOARD OF DIRECTORS |
Rating History
No data exist.
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.27 |
|
|
1 |
Rs. 102.76 |
|
Euro |
1 |
Rs. 82.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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.