MIRA
INFORM REPORT
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Report Date : |
19.03.2014 |
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Tel. No.: |
47 33 489999 |
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Fax No.: |
47 33 489998 |
IDENTIFICATION DETAILS
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Name : |
NEVION EUROPE AS |
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Registered Office : |
Nordre Kullerød
1, Sandefjord, 3241 |
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Country : |
Norway |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1996 |
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Com. Reg. No.: |
976584201 |
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Legal Form : |
Private
Subsidiary Company |
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Line of Business : |
engaged in planning and
designing computer systems that integrate computer hardware, software, and
communication technologies. |
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No. of Employees |
64 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Norway |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
& address
Nevion Europe AS
Nordre Kullerød 1
Sandefjord, 3241
Norway
Tel: +47 33 48 99 99
Fax: +47 33 48 99 98
Web: www.network-electronics.com
synthesis
Employees: 64
Company Type: Private
Subsidiary
Corporate Family: 3 Companies
Ultimate Parent: Video
Transportation Network AS
Incorporation
Date: 1996
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Norwegian Krone
Annual Sales: 36.4
Net Income: (2.0)
Total Assets: 80.4
Business
Description
Nevion Europe AS
is primarily engaged in planning and designing computer systems that integrate
computer hardware, software, and communication technologies. The hardware and
software components of the system may be provided by this establishment or
company as part of integrated services or may be provided by third parties or
vendors. These establishments often install the system and train and support
users of the system.
Industry
Industry
Computer System Design Services
ANZSIC 2006: 7000 - Computer System Design and Related
Services
ISIC Rev 4: 6202 - Computer consultancy and
computer facilities management activities
NACE Rev 2: 6202 - Computer consultancy activities
NAICS 2012: 541512 - Computer Systems Design Services
UK SIC 2007: 6202 - Computer consultancy activities
US SIC 1987: 7373 - Computer Integrated Systems Design
Key Executives
|
Name |
Title |
|
Geir Bryn Jensen |
Daglig leder |
|
Tore Steen |
Finance Manager |
|
Wiggo Evensen |
Sales Director |
|
Thomas Heinzer |
Purchasing Executive |
|
Lars Kr. Thomesen |
Export Executive |
1 - Profit &
Loss Item Exchange Rate: USD 1 = NOK 5.821343
2 - Balance Sheet
Item Exchange Rate: USD 1 = NOK 5.58875
Corporate
Overview
Location
Nordre Kullerød 1
Sandefjord, 3241
Norway
Tel: +47 33 48 99 99
Fax: +47 33 48 99 98
Web: www.network-electronics.com
Sales NOK(mil): 211.8
Assets NOK(mil): 449.2
Employees: 64
Fiscal Year End: 31-Dec-2012
Industry: Computer
Services
Incorporation
Date: 1996
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered
No.(NOR): 976584201
Styreleder: Bengt
Thuresson
Industry Codes
ANZSIC 2006
Codes:
7000 - Computer
System Design and Related Services
2422 - Communication
Equipment Manufacturing
2429 - Other
Electronic Equipment Manufacturing
214 - Basic
Non-Ferrous Metal Product Manufacturing
5420 - Software
Publishing
ISIC Rev 4 Codes:
6202 - Computer
consultancy and computer facilities management activities
2732 - Manufacture
of other electronic and electric wires and cables
620 - Computer
programming, consultancy and related activities
2630 - Manufacture
of communication equipment
5820 - Software
publishing
2640 - Manufacture
of consumer electronics
NACE Rev 2 Codes:
6202 - Computer
consultancy activities
2640 - Manufacture
of consumer electronics
2732 - Manufacture
of other electronic and electric wires and cables
2630 - Manufacture
of communication equipment
5829 - Other
software publishing
620 - Computer
programming, consultancy and related activities
NAICS 2012 Codes:
541512 - Computer
Systems Design Services
3343 - Audio
and Video Equipment Manufacturing
33422 - Radio
and Television Broadcasting and Wireless Communications Equipment Manufacturing
511210 - Software
Publishers
33421 - Telephone
Apparatus Manufacturing
5112 - Software
Publishers
334220 - Radio
and Television Broadcasting and Wireless Communications Equipment Manufacturing
54151 - Computer
Systems Design and Related Services
33431 - Audio
and Video Equipment Manufacturing
334210 - Telephone
Apparatus Manufacturing
51121 - Software Publishers
334310 - Audio and Video Equipment
Manufacturing
33592 - Communication and Energy Wire and
Cable Manufacturing
US SIC 1987:
7373 - Computer
Integrated Systems Design
335 - Rolling,
Drawing, and Extruding of Nonferrous Metals
737 - Computer
Programming and Data Processing
3663 - Radio
and Television Broadcasting and Communications Equipment
3651 - Household
Audio and Video Equipment
7372 - Prepackaged
Software
3661 - Telephone
and Telegraph Apparatus
UK SIC 2007:
6202 - Computer
consultancy activities
2640 - Manufacture
of consumer electronics
26301 - Manufacture of telegraph and telephone
apparatus and equipment
5829 - Other software publishing
26309 - Manufacture of communication equipment
(other than telegraph and telephone apparatus and equipment)
620 - Computer programming, consultancy and
related activities
2732 - Manufacture of other electronic and
electric wires and cables
Business Description
Nevion Europe AS
is primarily engaged in planning and designing computer systems that integrate
computer hardware, software, and communication technologies. The hardware and
software components of the system may be provided by this establishment or
company as part of integrated services or may be provided by third parties or
vendors. These establishments often install the system and train and support
users of the system.
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Corporate Family |
Corporate Structure News: |
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Nevion Europe AS |
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Nevion Europe AS |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Video Transportation Network AS |
Parent |
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|||||
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Nevion Europe AS |
Subsidiary |
Sandefjord, Vestfold |
Norway |
Computer System Design Services |
36.4 |
64 |
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Nevion Ltd. |
Subsidiary |
Ipswich |
United Kingdom |
Specialty Construction Trade Contractors |
6.6 |
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Executive report
Boad of Directors
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Styreleder |
Chairman |
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Executives |
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Daglig leder |
Managing Director |
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Finance Manager |
Finance Executive |
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Sales Director |
Sales Executive |
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Export Executive |
International Executive |
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Production Director |
Manufacturing Executive |
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Purchasing Executive |
Purchasing Executive |
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Annual Profit & Loss
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
NOK |
NOK |
NOK |
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Exchange Rate
(Period Average) |
5.821343 |
5.606842 |
6.047155 |
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Consolidated |
No |
No |
No |
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Total Revenue |
36.4 |
28.5 |
25.3 |
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Net Financial Items |
-2.1 |
1.2 |
2.0 |
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Operating Income |
-1.0 |
-2.2 |
-0.3 |
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Income Before Tax |
-3.1 |
-1.0 |
1.7 |
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Net Income |
-2.0 |
-0.8 |
1.5 |
Annual Balance Sheet
Financials in: USD (mil)
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed Currency |
NOK |
NOK |
NOK |
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Exchange Rate |
5.58875 |
5.96795 |
5.8125 |
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Consolidated |
No |
No |
No |
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Total Assets |
80.4 |
44.2 |
43.2 |
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Total Liabilities |
18.2 |
8.3 |
5.6 |
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Total Equity |
62.1 |
35.9 |
37.6 |
Annual Ratios
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
- |
- |
- |
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Exchange Rate |
- |
- |
- |
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Consolidated |
No |
No |
No |
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Operating Margin |
-2.80 |
-7.74 |
-1.10 |
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Current Ratio |
1.39 |
1.83 |
3.45 |
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Total debt/total equity |
77.30 |
81.13 |
86.93 |
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Return on average equity |
-3.42 |
-1.97 |
4.04 |
Annual Growth Rates
|
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
12 Months |
12 Months |
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Filed Currency |
- |
- |
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Exchange Rate |
- |
- |
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Consolidated |
No |
No |
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Turnover Percent Change |
32.33% |
4.72% |
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Net Financial Items Percent Change |
-282.20% |
-46.13% |
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Operating Results Percent Change |
52.06% |
-637.96% |
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Profit/Loss Before Tax Percent Change |
-207.04% |
-155.50% |
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Profit/Loss for the Year Percent Change |
-181.07% |
-147.92% |
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Assets Percent Change |
70.22% |
5.07% |
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Debts Percent Change |
104.80% |
51.67% |
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Equity Capital Percent Change |
62.17% |
-1.94% |
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Operating Margin Percent Change |
63.82% |
-603.64% |
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Current Ratio Percent Change |
-24.04% |
-46.96% |
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Debt/Equity Ratio Percent Change |
-4.72% |
-6.67% |
|
Return On Equity Percent Change |
-73.60% |
-148.76% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.95 |
|
UK Pound |
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.