|
Report No. : |
335180 |
|
Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
O MUSTAD & SØN AS |
|
|
|
|
Formerly Known As : |
MUSTAD O & SØN EIENDOM AS |
|
|
|
|
Registered Office : |
Raufossvegen 40 Gjøvik 2821 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2014 |
|
|
|
|
Date of Incorporation : |
19.08.2003 |
|
|
|
|
Com. Reg. No.: |
985933197 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Manufacture of sports goods. |
|
|
|
|
No. of Employee : |
12 |
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 $870 billion in December 2014 and annually uses up to 4% of the fund, it’s projected long term 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 2010-14. Nevertheless, the government budget remains in surplus. Lower oil prices in 2015 may cause the economy to contract as higher costs production costs in the North Sea deter investment.
|
Source
: CIA |
|
Company Name |
O MUSTAD & SØN AS |
Company Number |
985933197 |
|
Company name |
O MUSTAD & SØN AS |
Company number |
985933197 |
|
Address |
Raufossvegen 40 |
||
|
City |
GJØVIK 2821 |
Legal form |
Limited company |
|
Website address |
E-mail address |
- |
|
|
Telephone Number |
00 47 61137700 |
Fax Number |
00 47 61137950 |
|
Registration date |
19/08/2003 |
Status |
Active |
|
Previous Name |
MUSTAD O & SØN EIENDOM AS |
Share capital |
19,760,400 |
|
Name change date |
20/08/2003 |
Currency |
- |
|
Number of employees |
12 |
|
Address |
City |
Postal Code |
|
Postboks 41 |
GJØVIK |
2801 |
|
Company Name |
Company Number |
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2014 |
247,139,000 |
17,421,000 |
123,134,000 |
|
2013 |
223,995,000 |
-692,000 |
94,718,000 |
|
2012 |
232,522,000 |
-22,142,000 |
96,230,000 |
|
2011 |
267,523,000 |
-43,719,000 |
43,673,000 |
|
2010 |
103,637,000 |
-30,295,000 |
17,172,000 |
|
Main Industry Code & Description |
Manufacture of sports goods |
|
Secondary Industry Code & Description |
- |
|
Other Industry Code & Description |
- |
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
ARD GROUP AS |
197,604 |
100.0 |
|
Name |
Address |
Function |
|
Snarøyveien 132 SNARØYA 1367 |
General manager/CEO |
|
|
Valstadvegen 11 KAPP 2849 |
Deputy board member/substitute |
|
|
Finstadvegen 220 BIRI 2836 |
Deputy board member/substitute |
|
|
Hombvegen 7 HUNNDALEN 2827 |
Board member(s) |
|
|
Hovdevegen 9 GJØVIK 2821 |
Deputy board member/substitute |
|
|
Mølleveien 24 A RØYKEN 3440 |
Board member(s) |
|
|
Løvåsvegen 42 E RAUFOSS 2830 |
Deputy board member/substitute |
|
|
Einerbakken 16 HUNNDALEN 2827 |
Deputy board member/substitute |
|
|
Nedre Meierbakken 19 SKIEN 3744 |
Deputy chairman |
|
|
Bjørkestien 9 GJØVIK 2817 |
Board member(s) |
|
|
Kalkvegen 5 GJØVIK 2818 |
Deputy board member/substitute |
|
|
Kåvesand 2 RAULAND 3864 |
Chairman of the board |
No data exist
|
2014 |
2013 |
2012 |
2011 |
2010 |
|||||
|
Currency |
NOK |
NOK |
NOK |
NOK |
NOK |
||||
|
Consolidated Accounts |
Yes |
Yes |
Yes |
Yes |
No |
||||
|
Complete Accounts |
Yes |
Yes |
Yes |
Yes |
Yes |
||||
|
Sales Revenue |
247,139,000 |
10.3 % |
223,995,000 |
-3.7 % |
232,522,000 |
-13.1 % |
267,523,000 |
158.1 % |
103,637,000 |
|
Other operating income |
7,660,000 |
34.7 % |
5,686,000 |
343.9 % |
1,281,000 |
-82.3 % |
7,220,000 |
-65.8 % |
21,113,000 |
|
Total Operating Income |
254,799,000 |
10.9 % |
229,681,000 |
-1.8 % |
233,803,000 |
-14.9 % |
274,743,000 |
120.2 % |
124,750,000 |
|
Total Operating Expenses |
245,375,000 |
3.0 % |
238,201,000 |
-5.6 % |
252,381,000 |
-20.2 % |
316,360,000 |
88.4 % |
167,879,000 |
|
Operating Profit |
9,424,000 |
210.6 % |
-8,520,000 |
54.1 % |
-18,578,000 |
55.4 % |
-41,617,000 |
3.5 % |
-43,129,000 |
|
Wages & Salaries |
91,054,000 |
16.5 % |
78,153,000 |
-16.8 % |
93,926,000 |
-10.2 % |
104,548,000 |
62.5 % |
64,352,000 |
|
Depreciation |
10,280,000 |
-27.3 % |
14,150,000 |
21.2 % |
11,677,000 |
-13.5 % |
13,502,000 |
9.7 % |
12,307,000 |
|
Financial Income |
33,659,000 |
102.2 % |
16,646,000 |
114.5 % |
7,762,000 |
3.2 % |
7,521,000 |
-63.0 % |
20,313,000 |
|
Financial Expenses |
25,662,000 |
191.0 % |
8,818,000 |
-22.1 % |
11,326,000 |
17.7 % |
9,623,000 |
28.7 % |
7,479,000 |
|
Profit Before Tax |
17,421,000 |
2,617.5 % |
-692,000 |
96.9 % |
-22,142,000 |
49.4 % |
-43,719,000 |
-44.3 % |
-30,295,000 |
|
Tax |
3,030,000 |
164.6 % |
-4,689,000 |
-302.7 % |
2,313,000 |
-92.3 % |
30,170,000 |
463.2 % |
-8,307,000 |
|
Profit After Tax |
20,451,000 |
480.1 % |
-5,381,000 |
72.9 % |
-19,829,000 |
-46.4 % |
-13,549,000 |
64.9 % |
-38,602,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Result after Dividends |
20,451,000 |
480.1 % |
-5,381,000 |
72.9 % |
-19,829,000 |
-46.4 % |
-13,549,000 |
64.9 % |
-38,602,000 |
|
2014 |
2013 |
2012 |
2011 |
2010 |
|||||
|
Currency |
NOK |
NOK |
NOK |
NOK |
NOK |
||||
|
Consolidated Accounts |
Yes |
Yes |
Yes |
Yes |
No |
||||
|
Complete Accounts |
Yes |
Yes |
Yes |
Yes |
Yes |
||||
|
Land & Buildings |
41,799,000 |
15.8 % |
36,084,000 |
-0.4 % |
36,247,000 |
-11.0 % |
40,730,000 |
634.8 % |
5,543,000 |
|
Plant & Machinery |
25,817,000 |
- |
0 |
-100.0 % |
31,489,000 |
-8.8 % |
34,517,000 |
102.3 % |
17,060,000 |
|
Other Tangible Assets |
0 |
-100.0 % |
26,538,000 |
- |
0 |
- |
0 |
- |
0 |
|
Total Tangible Assets |
67,616,000 |
8.0 % |
62,622,000 |
-7.5 % |
67,736,000 |
-10.0 % |
75,247,000 |
232.9 % |
22,603,000 |
|
Intangible Assets |
61,103,000 |
9.4 % |
55,862,000 |
-1.4 % |
56,670,000 |
24.4 % |
45,556,000 |
368.2 % |
9,730,000 |
|
Other Fixed Assets |
7,480,000 |
8.3 % |
6,904,000 |
5.7 % |
6,534,000 |
-35.6 % |
10,151,000 |
-92.9 % |
143,508,000 |
|
TOTAL FIXED ASSETS |
136,199,000 |
8.6 % |
125,388,000 |
-4.2 % |
130,940,000 |
0.0 % |
130,954,000 |
-25.5 % |
175,841,000 |
|
Inventories |
127,035,000 |
30.1 % |
97,672,000 |
-2.2 % |
99,860,000 |
0.0 % |
99,855,000 |
280.7 % |
26,231,000 |
|
Trade Receivables |
60,775,000 |
44.0 % |
42,201,000 |
31.7 % |
32,034,000 |
-38.5 % |
52,083,000 |
-40.0 % |
86,863,000 |
|
Other Receivables |
6,788,000 |
-29.7 % |
9,655,000 |
157.1 % |
3,756,000 |
-53.4 % |
8,067,000 |
372.3 % |
1,708,000 |
|
Cash & Bank Deposits |
30,361,000 |
27.0 % |
23,910,000 |
-4.1 % |
24,940,000 |
15.1 % |
21,669,000 |
977.0 % |
2,012,000 |
|
Other Current Assets |
0 |
- |
0 |
-100.0 % |
1,205,000 |
-94.6 % |
22,523,000 |
323.8 % |
5,314,000 |
|
TOTAL CURRENT ASSETS |
224,959,000 |
29.7 % |
173,438,000 |
7.2 % |
161,795,000 |
-20.8 % |
204,197,000 |
67.2 % |
122,128,000 |
|
TOTAL ASSETS |
361,158,000 |
20.9 % |
298,826,000 |
2.1 % |
292,735,000 |
-12.7 % |
335,151,000 |
12.5 % |
297,969,000 |
|
Trade Creditors |
37,078,000 |
54.1 % |
24,061,000 |
28.1 % |
18,779,000 |
-27.7 % |
25,970,000 |
46.3 % |
17,749,000 |
|
Short Term Liabilities to Financial
Institutions |
57,594,000 |
23.7 % |
46,543,000 |
-8.2 % |
50,711,000 |
-31.0 % |
73,443,000 |
76.6 % |
41,577,000 |
|
Short Term Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
37,743,000 |
0.9 % |
37,400,000 |
9.2 % |
34,245,000 |
-17.9 % |
41,708,000 |
206.3 % |
13,617,000 |
|
TOTAL CURRENT LIABILITIES |
132,415,000 |
22.6 % |
108,004,000 |
4.1 % |
103,735,000 |
-26.5 % |
141,121,000 |
93.5 % |
72,943,000 |
|
Long Term Liabilities to Financial
Institutions |
86,148,000 |
11.3 % |
77,391,000 |
8.4 % |
71,363,000 |
-43.1 % |
125,388,000 |
1.9 % |
123,020,000 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
19,461,000 |
4.2 % |
18,685,000 |
-12.3 % |
21,312,000 |
-13.9 % |
24,748,000 |
6.9 % |
23,153,000 |
|
Other Long Term Liabilities |
0 |
-100.0 % |
29,000 |
-69.5 % |
95,000 |
-57.2 % |
222,000 |
-99.6 % |
61,681,000 |
|
TOTAL LONG TERM LIABILITIES |
105,609,000 |
9.9 % |
96,105,000 |
3.6 % |
92,770,000 |
-38.3 % |
150,358,000 |
-27.7 % |
207,854,000 |
|
TOTAL LIABILITIES |
238,024,000 |
16.6 % |
204,109,000 |
3.9 % |
196,505,000 |
-32.6 % |
291,479,000 |
3.8 % |
280,797,000 |
|
Share Capital |
19,760,000 |
0.0 % |
19,760,000 |
0.0 % |
19,760,000 |
-84.3 % |
125,904,000 |
96.0 % |
64,234,000 |
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
-100.0 % |
79,494,000 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
103,374,000 |
37.9 % |
74,958,000 |
141.4 % |
-180,868,000 |
-120.0 % |
-82,231,000 |
35.0 % |
-126,556,000 |
|
Other Reserves |
0 |
- |
0 |
-100.0 % |
257,338,000 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
123,134,000 |
30.0 % |
94,718,000 |
-1.6 % |
96,230,000 |
120.3 % |
43,673,000 |
154.3 % |
17,172,000 |
|
2014 |
2013 |
2012 |
2011 |
2010 |
|||||
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working Capital |
92,544,000 |
41.4 % |
65,434,000 |
12.7 % |
58,060,000 |
-8.0 % |
63,076,000 |
28.2 % |
49,185,000 |
|
Net Worth |
62,031,000 |
59.6 % |
38,856,000 |
-1.8 % |
39,560,000 |
2,200.9 % |
-1,883,000 |
-125.3 % |
7,442,000 |
|
Capital Employed |
228,743,000 |
19.9 % |
190,823,000 |
1.0 % |
189,000,000 |
-2.6 % |
194,031,000 |
-13.8 % |
225,026,000 |
|
2014 |
2013 |
2012 |
2011 |
2010 |
|
|
Pre-Tax Profit Margin |
7.05 |
-0.31 |
-9.52 |
-16.34 |
-29.23 |
|
Return on Capital Employed |
7.62 |
-0.36 |
-11.72 |
-22.53 |
-13.46 |
|
Return on Total Assets Employed |
4.82 |
-0.23 |
-7.56 |
-13.04 |
-10.17 |
|
Return on Net Assets Employed |
14.15 |
-0.73 |
-23.01 |
-100.11 |
-176.42 |
|
Sales/Net Working Capital |
2.67 |
3.42 |
4.00 |
4.24 |
2.11 |
|
Stock Turnover Ratio |
51.40 |
43.60 |
42.95 |
37.33 |
25.31 |
|
Debtor Days |
89.76 |
68.77 |
50.29 |
71.06 |
305.92 |
|
Creditor Days |
54.76 |
39.21 |
29.48 |
35.43 |
62.51 |
|
Current Ratio |
1.70 |
1.61 |
1.56 |
1.45 |
1.67 |
|
Liquidity Ratio/Acid Test |
0.74 |
0.70 |
0.60 |
0.74 |
1.31 |
|
Current Debt Ratio |
1.08 |
1.14 |
1.08 |
3.23 |
4.25 |
|
Solvency Ratio |
34.09 |
31.70 |
32.87 |
13.03 |
5.76 |
|
Equity in Percentage |
42.09 |
40.12 |
41.92 |
15.63 |
11.86 |
|
Total Debt Ratio |
1.93 |
2.15 |
2.04 |
6.67 |
16.35 |
|
Date |
Description |
|
23/05/2015 |
|
|
23/05/2015 |
|
|
10/11/2014 |
CHANGE OF BOARD OF DIRECTORS |
|
02/08/2014 |
|
|
02/08/2014 |
|
|
15/07/2014 |
CHANGE OF BOARD OF DIRECTORS |
|
19/06/2014 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
20/12/2013 |
|
|
20/12/2013 |
|
|
10/06/2013 |
|
|
10/06/2013 |
|
|
28/05/2013 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
19/02/2013 |
CHANGE OF BOARD OF DIRECTORS |
|
19/02/2013 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
10/12/2012 |
CHANGE OF CAPITAL |
|
10/12/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
20/08/2012 |
Decrease in capital |
|
06/07/2012 |
|
|
06/07/2012 |
|
|
04/07/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
03/05/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
03/05/2012 |
CHANGE OF CAPITAL |
|
23/04/2012 |
CHANGE OF GENERAL MANAGER |
|
07/04/2012 |
CHANGE OF CAPITAL |
|
07/04/2012 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
24/12/2011 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
24/12/2011 |
CHANGE OF CAPITAL |
|
21/12/2011 |
CHANGE OF BOARD OF DIRECTORS |
|
19/12/2011 |
CHANGE OF BOARD OF DIRECTORS |
|
23/11/2011 |
|
|
23/11/2011 |
|
|
05/09/2011 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.93 |
|
|
1 |
Rs.99.82 |
|
Euro |
1 |
Rs.70.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.