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Report No. : |
329035 |
|
Report Date : |
30.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SEABORN AS |
|
|
|
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Registered Office : |
Sandviksbodene 66, 5035 Bergen |
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|
|
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Country : |
Norway |
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|
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Financials (as on) : |
2014 |
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Date of Incorporation : |
23.05.2001 |
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|
|
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Com. Reg. No.: |
983469248 |
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|
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Wholesale of Other Food, including Fish, Crustaceans and Molluscs |
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|
|
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No. of Employees : |
Not Available |
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 |
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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 |
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SEABORN AS |
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ICON number: 106351896 |
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Registration status: 28.06.2001 -
registered company |
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Management: |
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No negative information found.
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Capital: |
|
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Shareholders: |
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Payment Practices: |
Payments are made mostly according to terms |
|
Related Companies: |
Subsidiaries: |
Financials:
|
Amounts shown in Euro (EUR) |
2014 |
2013 |
|
|
|
BALANCE SHEET |
||
|
|
|
||
|
A. |
FIXED ASSETS |
1.270.917,43 |
335.669,35 |
|
I. |
Intangible assets |
989.183,43 |
299.027,58 |
|
II. |
Tangible fixed assets |
216.211,68 |
|
|
III. |
Long-term investments |
65.522,32 |
36.641,77 |
|
1. |
Long-term financial assets |
65.522,32 |
36.641,77 |
|
B. |
CURRENT ASSETS |
63.962.842,73 |
58.272.712,13 |
|
I. |
Inventory |
11.565.947,56 |
2.986.560,41 |
|
II. |
Short-term receivables |
52.259.501,93 |
55.147.015,49 |
|
III. |
Short-term investments |
137.393,24 |
139.136,23 |
|
1. |
Short-term financial assets |
137.393,24 |
139.136,23 |
|
a) |
Cash and other pacuniary assets |
137.393,24 |
139.136,23 |
|
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TOTAL ASSETS |
65.233.760,17 |
58.608.381,48 |
|
LIABILITIES |
|
||
|
A. |
EQUITY |
10.954.445,82 |
11.274.390,48 |
|
I. |
Share capital |
1.937.280,64 |
2.072.053,60 |
|
II. |
Other reserve capitals |
1.047.878,01 |
1.328.584,42 |
|
III. |
Previous years' profit (loss) |
5.061.988,67 |
5.566.474,06 |
|
IV. |
Net profit (loss) |
2.907.298,49 |
2.307.278,39 |
|
B. |
LIABILITIES AND PROVISIONS FOR LIABILITIES |
54.279.314,35 |
47.333.991,01 |
|
I. |
Provisions for liabilities |
0,00 |
0,00 |
|
II. |
Long-term liabilities |
0,00 |
0,00 |
|
III. |
Short-term liabilities |
54.279.314,35 |
47.333.991,01 |
|
1. |
To related parties |
697.147,92 |
414.461,97 |
|
2. |
To other entities |
53.582.166,43 |
46.919.529,04 |
|
a) |
Credits and loans |
13.940.802,32 |
9.060.125,81 |
|
b) |
Trade liabilities |
36.930.393,01 |
35.990.801,12 |
|
c) |
Tax, customs, insurance and other libilities |
2.120.910,84 |
1.346.008,48 |
|
d) |
Other liabilities |
590.060,25 |
522.593,62 |
|
IV. |
Accruals |
0,00 |
0,00 |
|
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TOTAL EQUITY AND LIABILITIES |
65.233.760,17 |
58.608.381,48 |
|
PROFIT &
LOSS (BY NATURE OF EXPENSE) |
|
||
|
A. |
NET REVENUE SALES AND EQUIVALENT |
332.051.435,62 |
307.609.316,75 |
|
B. |
Operating expenses |
298.142.735,65 |
278.350.351,68 |
|
I. |
Depreciation |
92.354,13 |
36.513,65 |
|
II. |
Consumption of materials and energy |
294.828.168,61 |
275.393.130,31 |
|
III. |
Payroll |
3.222.212,91 |
2.920.707,72 |
|
C. |
PROFIT/(LOSS) ON SALES |
33.908.699,97 |
29.258.965,06 |
|
D. |
Other operating expenses |
29.544.937,29 |
25.096.536,97 |
|
E. |
OPERATING PROFIT/(LOSS) |
4.363.762,68 |
4.162.428,09 |
|
F. |
Financial income |
128.529,16 |
34.720,00 |
|
G. |
Financial expenses |
476.863,55 |
954.864,00 |
|
H. |
Profit/(loss) on business activities |
4.015.428,29 |
3.242.284,09 |
|
I. |
Profit before tax |
4.015.428,29 |
3.242.284,09 |
|
J. |
Income tax |
1.108.129,80 |
935.005,70 |
|
K. |
NET PROFIT/(LOSS) |
2.907.298,49 |
2.307.278,39 |
|
Financial data source: |
2014: Financials in accordance with
official publications |
Ratios:
|
|
2014 |
2013 |
|
Quick ratio ( QR ) |
0,97 |
1,17 |
|
Current ratio ( CR ) |
1,18 |
1,23 |
|
Return on sales ( ROS ) |
0,01 |
0,01 |
|
Return on assets ( ROA ) |
0,04 |
0,04 |
|
Return on equity ( ROE ) |
0,27 |
0,20 |
|
Cash ratio |
0,00 |
0,00 |
|
Day's supply in inventory |
12,71 |
3,54 |
|
Day's sales in receivables |
57,45 |
65,44 |
|
Day's purchase in payables |
59,67 |
56,17 |
|
Debt ratio |
4,96 |
4,20 |
|
General debt ratio (%) |
83,21 |
80,76 |
|
Long term debt ratio I (%) |
0 |
0 |
|
Long term debt ratio II (%) |
0 |
0 |
|
Long term liabilities in outside capital (%) |
0 |
0 |
|
Net working capital |
EUR 9.683.528,38 |
EUR 10.938.721,13 |
|
Net Working Capital Ratio (%) |
2,92 |
3,56 |
|
Quick ratio ( QR ) |
( Current investments + Current receivables ) / Current liabilities |
|
Current ratio ( CR ) |
Current assets / Current liabilities |
|
Return on sales ( ROS ) |
Net profit / Turnover |
|
Return on assets ( ROA ) |
Net profit / Total assets |
|
Return on equity ( ROE ) |
Net profit / Shareholder equity |
|
Cash ratio |
Cash / Current liabilities |
|
Day's supply in inventory |
(Inventory / Turnover ) * 365 days |
|
Day's sales in receivables |
(Current receivables / Turnover ) * 365 days |
|
Day's purchase in payables |
(Current Liabilities / Turnover ) * 365 days |
|
Debt ratio |
Outside capital / Equity capital |
|
General debt ratio (%) |
((Long-term liabilities + Current liabilities ) / Total assets ) * 100 |
|
Long term debt ratio I (%) |
( Long-term liabilities / Equity capital ) * 100 |
|
Long term debt ratio II (%) |
((Long-term liabilities / (Equity capital + Long-term liabilities )) *
100 |
|
Long term liabilities in outside capital (%) |
(Long-term liabilities / Outside capital ) * 100 |
|
Net working capital |
(Current assets - Short-term liabilities)/1000 (in Thousands) |
|
Net Working Capital Ratio (%) |
((Inventory + Short-term receivables + Liquid assets + Other
assets)-(Short-term liabities + Short-term loans + Other liabilities)) /
Total assets *100 |
More information describing the indicators presented in the report by Coface
Poland can be found here.
|
Currency Conversion Information: |
Financial values have been converted to
EUR. |
|
Approximate Exchange Rates: |
2014: 8,3483 NOK = 1 EUR |
|
Insolvency Information: |
According to available information sources the company is not in a
insolvency/preliminary/debt regulation proceeding |
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Established: |
23.05.2001 |
|
Registration: |
No. 983469248 |
|
Legal Form: |
Limited Liability Company |
|
Subject of Operation: |
NACE |
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Workforce: |
|
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Bankers: |
DNB Bank ASA |
N/A
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.92 |
|
|
1 |
Rs.100.40 |
|
Euro |
1 |
Rs.70.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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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 |
|
|
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.