MIRA INFORM REPORT
|
Report No. : |
332968 |
|
Report Date : |
17.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
LUNDHS AS |
|
|
|
|
Registered Office : |
Nedre Fritzøegate 1 Larvik 3264 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2013 |
|
|
|
|
Com. Reg. no.: |
993071641 |
|
|
|
|
Date of Incorporation : |
03.10.2008 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
142 |
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, 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 $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
|
LUNDHS
AS |
|
Company name |
LUNDHS AS |
Company number |
993071641 |
|
Address |
Nedre Fritzøegate 1 |
Safe number |
- |
|
City |
LARVIK 3264 |
Legal form |
Limited company |
|
Website address |
E-mail address |
post@lundhs.no |
|
|
Telephone Number |
00 47 33121164 |
Fax Number |
00 47 33185535 |
|
Registration date |
03/10/2008 |
Status |
Active |
|
Previous Name |
- |
Share capital |
50,000,000 |
|
Name change date |
- |
Currency |
- |
|
Number of employees |
142 |
Postal Address
|
Address |
City |
Postal Code |
|
Postboks 2051 |
LARVIK |
3255 |
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2013 |
396,768,000 |
70,629,000 |
362,862,000 |
|
2012 |
373,351,000 |
32,904,000 |
329,740,000 |
|
2011 |
386,551,000 |
42,703,000 |
385,778,000 |
|
2010 |
429,281,000 |
48,472,000 |
420,829,000 |
|
2009 |
348,985,000 |
35,369,000 |
436,686,000 |
Industry
|
Main Industry Code & Description |
Quarrying of ornamental and building stone |
|
Secondary Industry Code & Description |
Wholesale of construction materials n.e.c. |
|
Other Industry Code & Description |
- |
Shareholders
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
TRESCHOW-FRITZØE AS |
250,000 |
50.0 |
|
MELA STEIN AS |
250,000 |
50.0 |
Current Directors
|
Name |
Address |
Function |
|
Brunlanesveien 201 LARVIK 3267 |
Chairman of the board |
|
|
Husebygrenda 11 SANDEFJORD 3219 |
Board member(s) |
|
|
Sundveien 23 R NØTTERØY 3128 |
Board member(s) |
|
|
Løveåsen 87 TJODALYNG 3280 |
Deputy board member/substitute |
|
|
Runden 38 HVITTINGFOSS 3647 |
Board member(s) |
|
|
Torpesvingen 11 HELGEROA 3295 |
Board member(s) |
|
|
Holtet 3 NEVLUNGHAMN 3296 |
Board member(s) |
|
|
Buktaveien 8 STAVERN 3290 |
Board member(s) |
|
|
Lønneveien 9 SANDEFJORD 3229 |
Deputy board member/substitute |
|
|
Bergeskaret 1 LARVIK 3260 |
Board member(s) |
|
|
Håkestadveien 285 TJODALYNG 3280 |
Board member(s) |
|
|
Lyngveien 11 LARVIK 3260 |
General manager/CEO |
Other Company Officials
No data exist
Profit & Loss Account
![[ghyper]](LUNDHS%20AS%20-%20332968%2017-Jul-2015_files/image001.gif){kind=small}
Balance Sheet
|
Financial Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|||||
|
Currency |
NOK |
NOK |
NOK |
NOK |
NOK |
|||||
|
Consolidated
Accounts |
Yes |
Yes |
Yes |
Yes |
Yes |
|||||
|
Complete Accounts |
No |
No |
Yes |
Yes |
Yes |
|||||
|
|
Land &
Buildings |
22,719,000 |
-9.9 % |
25,206,000 |
-8.6 % |
27,563,000 |
-5.1 % |
29,033,000 |
1,362.6 % |
1,985,000 |
|
|
Plant & Machinery |
56,039,000 |
- |
0 |
- |
0 |
- |
0 |
-100.0 % |
18,121,000 |
|
|
Other Tangible
Assets |
0 |
-100.0 % |
39,525,000 |
13.9 % |
34,704,000 |
-10.0 % |
38,546,000 |
-19.1 % |
47,662,000 |
|
|
Total Tangible
Assets |
78,758,000 |
21.7 % |
64,731,000 |
4.0 % |
62,267,000 |
-7.9 % |
67,579,000 |
-0.3 % |
67,768,000 |
|
|
Intangible Assets |
92,781,000 |
-19.8 % |
115,708,000 |
-4.9 % |
121,724,000 |
-8.8 % |
133,523,000 |
25.3 % |
106,588,000 |
|
|
Other Fixed
Assets |
57,388,000 |
425.6 % |
10,919,000 |
4.3 % |
10,465,000 |
13.0 % |
9,264,000 |
-74.9 % |
36,912,000 |
|
|
TOTAL FIXED
ASSETS |
228,927,000 |
19.6 % |
191,358,000 |
-1.6 % |
194,456,000 |
-7.6 % |
210,366,000 |
-0.4 % |
211,268,000 |
|
|
Inventories |
77,315,000 |
-10.9 % |
86,787,000 |
-19.4 % |
107,697,000 |
-26.6 % |
146,672,000 |
-17.9 % |
178,659,000 |
|
|
Trade Receivables |
93,481,000 |
16.8 % |
80,069,000 |
-1.1 % |
80,928,000 |
34.6 % |
60,115,000 |
-31.8 % |
88,144,000 |
|
|
Other Receivables |
9,771,000 |
38.8 % |
7,038,000 |
-7.5 % |
7,609,000 |
-34.1 % |
11,541,000 |
-29.0 % |
16,253,000 |
|
|
Cash & Bank
Deposits |
61,196,000 |
-50.4 % |
123,350,000 |
-23.3 % |
160,733,000 |
24.9 % |
128,663,000 |
6.8 % |
120,458,000 |
|
|
Other Current
Assets |
1,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
TOTAL CURRENT
ASSETS |
241,764,000 |
-18.7 % |
297,244,000 |
-16.7 % |
356,967,000 |
2.9 % |
346,991,000 |
-14.0 % |
403,514,000 |
|
|
TOTAL ASSETS |
470,690,000 |
-3.7 % |
488,602,000 |
-11.4 % |
551,423,000 |
-1.1 % |
557,357,000 |
-9.3 % |
614,782,000 |
|
|
Trade Creditors |
38,242,000 |
9.0 % |
35,073,000 |
-5.4 % |
37,081,000 |
8.9 % |
34,050,000 |
2.0 % |
33,379,000 |
|
|
Short Term Liabilities
to Financial Institutions |
0 |
-100.0 % |
2,260,000 |
- |
0 |
- |
0 |
- |
0 |
|
|
Short Term
Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other Short Term
Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Miscellaneous
Current Liabilities |
58,928,000 |
-45.3 % |
107,815,000 |
-2.9 % |
111,010,000 |
21.8 % |
91,133,000 |
7.7 % |
84,633,000 |
|
|
TOTAL CURRENT
LIABILITIES |
97,170,000 |
-33.1 % |
145,148,000 |
-2.0 % |
148,091,000 |
18.3 % |
125,183,000 |
6.1 % |
118,012,000 |
|
|
Long Term
Liabilities to Financial Institutions |
0 |
-100.0 % |
8,000,000 |
-20.0 % |
10,000,000 |
279.8 % |
2,633,000 |
-13.4 % |
3,041,000 |
|
|
Other Long Term
Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Long Term Pension
Commitments |
458,000 |
-65.1 % |
1,313,000 |
-44.2 % |
2,354,000 |
-36.6 % |
3,712,000 |
-37.2 % |
5,907,000 |
|
|
Other Long Term
Liabilities |
10,200,000 |
131.8 % |
4,400,000 |
-15.4 % |
5,200,000 |
4.0 % |
5,000,000 |
-90.2 % |
51,136,000 |
|
|
TOTAL LONG TERM
LIABILITIES |
10,658,000 |
-22.3 % |
13,713,000 |
-21.9 % |
17,554,000 |
54.7 % |
11,345,000 |
-81.1 % |
60,084,000 |
|
|
TOTAL LIABILITIES |
107,828,000 |
-32.1 % |
158,861,000 |
-4.1 % |
165,645,000 |
21.3 % |
136,528,000 |
-23.3 % |
178,096,000 |
|
|
Share Capital |
50,000,000 |
0.0 % |
50,000,000 |
0.0 % |
50,000,000 |
0.0 % |
50,000,000 |
0.0 % |
50,000,000 |
|
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Retained
Earnings |
312,862,000 |
13.6 % |
275,382,000 |
-16.9 % |
331,415,000 |
-9.5 % |
366,283,000 |
-5.3 % |
386,581,000 |
|
|
Other Reserves |
0 |
-100.0 % |
4,358,000 |
-0.1 % |
4,363,000 |
-4.0 % |
4,546,000 |
4,229.5 % |
105,000 |
|
|
TOTAL EQUITY |
362,862,000 |
10.0 % |
329,740,000 |
-14.5 % |
385,778,000 |
-8.3 % |
420,829,000 |
-3.6 % |
436,686,000 |
Other Financials
|
Financial Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|||||
|
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Working Capital |
144,594,000 |
-4.9 % |
152,096,000 |
-27.2 % |
208,876,000 |
-5.8 % |
221,808,000 |
-22.3 % |
285,502,000 |
|
|
Net Worth |
270,081,000 |
26.2 % |
214,032,000 |
-18.9 % |
264,054,000 |
-8.1 % |
287,306,000 |
-13.0 % |
330,098,000 |
|
|
Capital Employed |
373,520,000 |
8.8 % |
343,453,000 |
-14.8 % |
403,332,000 |
-6.7 % |
432,174,000 |
-13.0 % |
496,770,000 |
Ratios
Comments - not complete accounts
|
2013 |
Profit auditor specifies in his report does
not match the net income in the income statement |
|
2012 |
Profit auditor specifies in his report does
not match the net income in the income statement |
Event History
|
Date |
Description |
|
25/10/2014 |
CHANGE OF BOARD OF DIRECTORS |
|
25/10/2014 |
CHANGE OF SIGNATURE |
|
24/04/2014 |
Limit Change |
|
24/04/2014 |
Rating Change |
|
22/04/2014 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
30/10/2013 |
CHANGE OF BOARD OF DIRECTORS |
|
15/06/2013 |
CHANGE OF BOARD OF DIRECTORS |
|
06/05/2013 |
Limit Change |
|
30/04/2013 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
06/09/2012 |
CHANGE OF SIGNATURE |
|
06/09/2012 |
CHANGE OF BOARD OF DIRECTORS |
|
11/06/2012 |
Limit Change |
|
11/06/2012 |
Rating Change |
|
26/05/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
25/02/2012 |
CHANGE OF BOARD OF DIRECTORS |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
|
03/10/2011 |
CHANGE OF GENERAL MANAGER |
|
03/10/2011 |
CHANGE OF BOARD OF DIRECTORS |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.69.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.