|
|
|
MIRA INFORM REPORT
|
Report No. : |
488176 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
WILHELMSEN SHIPS SERVICE AS |
|
|
|
|
Formerly Known As : |
WILHELMSEN MARITIME SERVICES AS |
|
|
|
|
Registered Office : |
Strandveien 20, 1366 Lysaker, Norway |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2016 |
|
|
|
|
Date of Incorporation : |
19.02.1995 |
|
|
|
|
Com. Reg. No.: |
917019215 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
· Wholesale of shipping equipment and fishing tackle · Freight forwarding services |
|
|
|
|
No. of Employees : |
151 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Norway |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
NORWAY - ECONOMIC OVERVIEW
Norway has a stable economy with a vibrant private sector, a large state
sector, and an extensive social safety net. Norway opted 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.
The country is richly endowed with natural resources in addition to oil
and gas, including hydropower, fish, forests, and minerals. Norway is a leading
producer and the world’s second largest exporter of seafood, after China. The
government manages the country’s petroleum resources through extensive
regulation. The petroleum sector provides about 9% of jobs, 12% of GDP, 13% of
the state’s revenue, and 37% of exports, according to official national
estimates. Norway is one of the world's leading petroleum exporters, though oil
production in 2016 was close to 50% below its peak in 2000; annual gas
production, conversely, more than doubled over the same time period. After a
continual decline from 2001 to 2013, oil production rose in 2016 for the third
year running, due to the higher production of existing oil fields and to new
fields coming on stream.
In anticipation of eventual declines in oil and gas production, Norway
saves state revenue from petroleum sector activities in the world's largest
sovereign wealth fund, valued at almost $900 billion as of early 2017. To help
balance the federal budget each year, the government follows a “fiscal rule,”
which states that spending of revenues from petroleum and fund investments
shall correspond to the expected real rate of return on the fund, an amount it
estimates is sustainable over time. In February 2017, the government revised
the expected rate of return for the fund downward from 4% to 3%.
After solid GDP growth in the 2004-07 period, the economy slowed in
2008, and contracted in 2009, before returning to modest, positive growth from
2010 to 2017. Lower oil prices in 2015 and 2016 caused growth to slow,
increased unemployment, and weakened the Norwegian krone. The latter trend has
mitigated the negative impact of lower oil and gas prices by making Norwegian
exports cheaper for foreign buyers. The government has expressed willingness to
increase public spending from the sovereign wealth fund to help prevent a
recession.
|
Source
: CIA |
Company
summary
|
Company Name |
WILHELMSEN SHIPS SERVICE AS |
||
|
Company Number |
917019215 |
||
|
Legal Form |
Limited company |
||
|
Status |
Active |
||
|
Address |
Strandveien 20 |
||
|
City |
1366 Lysaker |
||
|
Website Address |
|||
|
Telephone |
67584000 |
Register Type |
Register of Business Enterprises and VAT
Register |
|
Share Capital |
1 188 000 |
E-mail Address |
|
|
Previous Name |
WILHELMSEN MARITIME SERVICES AS |
Fax Number |
67584730 |
|
Name Change Date |
21/06/2006 |
Currency |
NOK |
|
Registration Date |
19/02/1995 |
Number of Employees |
151 |
Postal Address
|
ADDRESS |
CITY |
|
Postboks 33 |
1324 LYSAKER |
Key Financials
|
YEAR TO DATE |
SALES REVENUE |
PROFIT BEFORE TAX |
TOTAL EQUITY |
|
2016 |
1 897 000 |
285 000 |
2 097 000 |
|
2015 |
2 069 000 |
865 000 |
2 139 000 |
|
2014 |
1 785 000 |
656 000 |
1 725 000 |
|
2013 |
1 668 000 |
380 000 |
1 941 000 |
|
2012 |
1 590 000 |
658 000 |
1 186 000 |
Industry
|
Main Industry Code & Description |
46.692 Wholesale of shipping equipment and
fishing tackle |
|
Secondary Industry Code & Description |
52.291 Freight forwarding services |
|
Other Industry Code & Description |
74.909 Other professional |
|
Sector Code |
710 |
Ultimate Holding Company
|
COMPANY NAME |
COUNTRY FLAG |
COMPANY NUMBER |
|
WILH. WILHELMSEN ASA |
- |
|
|
57 companies in 16 countries. |
||
Summary
|
Type |
Number |
Total Amount |
|
Unsettled ROP |
0 |
0 |
|
Partly Settled ROP |
0 |
0 |
|
Voluntary Pledge |
0 |
0 |
Commentary
|
- |
Event History
|
DATE |
DESCRIPTION |
|
25/11/2016 |
New rating algorithm introduced |
|
12/07/2017 |
Limit change |
|
12/07/2017 |
Rating change |
|
|
Company Name |
Company Number |
Last Account Published |
Revenue |
|
|
1 |
WILH. WILHELMSEN ASA |
- |
31/12/2009 |
5 000 KNOK |
|
|
2 |
WILHELMSEN LINES AS |
- |
31/12/2016 |
0 KNOK |
|
|
3 |
WILHELMSEN LINES SHIPOWNING AS |
- |
31/12/2016 |
41 051 KNOK |
|
|
WILHELMSEN MARINE CONSULTANTS AS |
- |
31/12/2012 |
12 426 KNOK |
|
|
|
WILHELMSEN SHIPPING AS |
- |
31/12/2011 |
0 KNOK |
|
|
|
WILHELMSEN SHIPS HOLDING AS |
- |
31/12/2016 |
0 KNOK |
|
|
|
WILHELMSEN LINES CAR CARRIERS LTD |
- |
- |
- |
|
|
|
WILHELMSEN LINES MALTA LTD |
- |
- |
- |
|
|
|
WILHELMSEN SHIPS HOLDING MALTA LTD. |
- |
- |
- |
|
|
|
WILSERVICE AS |
- |
31/12/2016 |
76 978 KNOK |
|
|
|
NJORD INSURANCE COMPANY LTD |
- |
- |
- |
|
|
|
WILH. WILHELMSEN (ASIA) SND BHD |
- |
- |
- |
|
|
|
WILH WILHELMSEN NETHERLANDS B V |
- |
- |
- |
|
|
|
2 |
DEN NORSKE AMERIKALINJE AS |
- |
31/12/2016 |
0 KNOK |
|
|
3 |
ABEER AS |
- |
31/12/2010 |
0 KNOK |
|
|
2 |
WILHELMSEN MARITIME SERVICES AS |
- |
31/12/2016 |
0 KNOK |
|
|
3 |
WILHELMSEN SHIPS SERVICE AS |
- |
31/12/2016 |
1 897 000 KNOK |
|
|
+ Indicates where branch(es) have been hidden
in this version of the group structure, please refer to the online version of
the report for the full group structure |
|||||
Current Directors
|
Name |
Address |
Date of Birth |
Function |
|
Grimholt, Bjørge |
Måltrostveien 19 A OSLO 0786 |
07/11/1970 |
General manager/CEO |
|
Nyheim, Erik |
Tømtebakken 6 B BILLINGSTAD 1396 |
12/06/1972 |
Chairman of the board |
|
Flæsen, Geir Oppegård |
Skådalsveien 10 F OSLO 0781 |
08/12/1981 |
Board member(s) |
|
Krefting, Carl Christian |
Nobels Gate 11 OSLO 0273 |
19/10/1961 |
Board member(s) |
|
Øvreås, Magne |
Bønesberget 32 BØNES 5153 |
20/01/1972 |
Board member(s) |
Signature
|
Signature |
To styremedlemmer i fellesskap eller
styrets leder alene. |
Procurement
|
Joint Procurement |
Jon Terje
Bjørnvold |
Auditors
|
Name |
Company Number |
Status |
Date |
|
PRICEWATERHOUSECOOPERS AS |
987009713 |
Active |
16/08/2005 |
Other Company Officials
|
Name |
Address |
Date of Birth |
Function |
|
- |
- |
- |
- |
Shareholders
|
SHAREHOLDER NAME |
NUMBER OF SHARES |
PERCENTAGE SHARE |
|
WILHELMSEN MARITIME SERVICES AS |
1 |
100.00 |
Group Linkages
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More companies available, please refer to
the company report |
Announcements
|
Date |
Announcement Type |
|
11/07/2017 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
10/07/2017 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
06/06/2017 |
CHANGE OF BOARD OF DIRECTORS |
|
15/05/2017 |
CHANGE OF BOARD OF DIRECTORS |
|
02/12/2016 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
28/10/2016 |
CHANGE OF CAPITAL |
|
28/10/2016 |
CHANGE OF DATE IN ARTICLES OF ASSOCIATON |
|
28/10/2016 |
Execution of demerger |
|
17/08/2016 |
Decision to demerger |
|
27/06/2016 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
06/05/2016 |
CHANGE OF BOARD OF DIRECTORS |
|
07/04/2016 |
Completion of merger |
|
22/02/2016 |
Merger decision |
|
02/07/2015 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
29/08/2014 |
CHANGE OF SIGNATURE |
|
28/06/2014 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
07/09/2013 |
CHANGE OF BOARD OF DIRECTORS |
|
11/07/2013 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
18/06/2013 |
Correction of signature |
|
10/06/2013 |
CHANGE OF SIGNATURE |
|
COMPANY NAME |
COMPANY NUMBER |
INDUSTRY CODE |
ADDRESS |
CITY |
TELEPHONE |
STATUS |
|
WILHELMSEN SHIPS SERVICE AS AVD SALG BERGEN |
974291193 |
46.692 |
C. Sundts gate 57 |
5817 BERGEN |
55306272 |
Active |
|
WILHELMSEN SHIPS SERVICE AS AVD STAVANGER |
995531585 |
46.692 |
Byfjordparken 15 |
- |
- |
Active |
|
WILHELMSEN SHIPS SERVICE AS AVD GLOMFJORD |
988362433 |
52.291 |
Tor Føyns vei 7 |
- |
- |
Active |
|
WILHELMSEN SHIPS SERVICE AS AVD ÅLSEUND |
989735896 |
74.909 |
Aarsæterveien 3 |
6028 ÅLESUND |
70101850 |
Active |
|
WILHELMSEN SHIPS SERVICE AS AVD SALG
LYSAKER BÆRUM |
974291185 |
46.692 |
Strandveien 20 |
1324 LYSAKER |
22131415 |
Active |
|
WILHELMSEN SHIPS SERVICE AS AVD BERGEN |
988362409 |
52.291 |
Skuteviksbodene 1-2 |
- |
55308930 |
Active |
|
WILHELMSEN SHIPS SERVICE AS AVD LYSAKER
BÆRUM |
972035645 |
52.291 |
Strandveien 20 |
1324 LYSAKER |
67584000 |
Active |
|
WILHELMSEN SHIPS SERVICE AS AVD SKIEN |
985451796 |
52.291 |
Strandvegen 2A |
- |
- |
Active |
Results
|
NOTE: All values displayed in 1000 |
|||||||||
|
Financial Year |
2016 |
2015 |
2014 |
2013 |
2012 |
||||
|
Currency |
NOK |
NOK |
NOK |
NOK |
NOK |
||||
|
Consolidated Accounts |
No |
No |
No |
No |
No |
||||
|
Complete Accounts |
Yes |
Yes |
Yes |
Yes |
Yes |
||||
|
Sales Revenue |
1 897 000 |
-8.31% |
2 069 000 |
15.91% |
1 785 000 |
7.01% |
1 668 000 |
4.91% |
1 590 000 |
|
Other operating income |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
|
Total Operating Income |
1 897 000 |
-8.31% |
2 069 000 |
15.91% |
1 785 000 |
7.01% |
1 668 000 |
4.91% |
1 590 000 |
|
Cost of stocks |
1 105 000 |
4.25% |
1 060 000 |
6.21% |
998 000 |
6.74% |
935 000 |
5.65% |
885 000 |
|
Change in stock of work in progress and
finished goods |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
|
Change in work in progress |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
|
Wages & Salaries |
267 000 |
12.66% |
237 000 |
178.82% |
85 000 |
-57.07% |
198 000 |
-1.00% |
200 000 |
|
Depreciation |
40 000 |
150.00% |
16 000 |
14.29% |
14 000 |
0.00% |
14 000 |
0.00% |
14 000 |
|
Write down of tangible and intangible fixed
assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other operating expenses |
535 000 |
9.86% |
487 000 |
12.73% |
432 000 |
-1.14% |
437 000 |
13.80% |
384 000 |
|
Total Operating Expenses |
1 947 000 |
7.45% |
1 812 000 |
18.05% |
1 535 000 |
-2.91% |
1 581 000 |
6.11% |
1 490 000 |
|
Operating Profit |
-50 000 |
-119.46% |
257 000 |
2.80% |
250 000 |
187.36% |
87 000 |
-13.00% |
100 000 |
|
Allocated dividend |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Revenue from subsidiaries |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
|
Revenue from group companies |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
|
Revenue from associated companies |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
|
Interest income from group companies |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other interest income |
- |
N/A |
15 000 |
25.00% |
12 000 |
-20.00% |
15 000 |
-25.00% |
20 000 |
|
Other financial income |
335 000 |
-44.99% |
609 000 |
13.62% |
536 000 |
57.18% |
341 000 |
-45.61% |
627 000 |
|
Financial Income |
335 000 |
-46.31% |
624 000 |
13.87% |
548 000 |
53.93% |
356 000 |
-44.98% |
647 000 |
|
Changes in value of quoted financial
current asssets |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
|
Write-downs on other financial current
assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Write-downs on financial fixed assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other interest expenses from group
companies |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other interest expenses |
- |
N/A |
16 000 |
-40.74% |
27 000 |
-57.14% |
63 000 |
-29.21% |
89 000 |
|
Other financial expenses |
- |
N/A |
0 |
-100.00% |
115 000 |
N/A |
- |
N/A |
- |
|
Other financial costs |
0 |
0.00% |
0 |
-100.00% |
115 000 |
100.00% |
0 |
0.00% |
0 |
|
Financial Expenses |
0 |
-100.00% |
16 000 |
-88.73% |
142 000 |
125.40% |
63 000 |
-29.21% |
89 000 |
|
Total\net financial items |
335 000 |
-44.90% |
608 000 |
49.75% |
406 000 |
38.57% |
293 000 |
-47.49% |
558 000 |
|
Profit Before Tax |
285 000 |
-67.05% |
865 000 |
31.86% |
656 000 |
72.63% |
380 000 |
-42.25% |
658 000 |
|
Tax |
30 000 |
-81.25% |
160 000 |
1.27% |
158 000 |
163.33% |
60 000 |
215.79% |
19 000 |
|
Profit After Tax |
255 000 |
-63.83% |
705 000 |
41.57% |
498 000 |
55.63% |
320 000 |
-49.92% |
639 000 |
|
Extraordinary Result |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
|
Net profit\loss for the year before
miniority interests |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Tax on extraordinary result |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
|
Minority share before year result |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Net Result after Dividends |
255 000 |
-63.83% |
705 000 |
41.57% |
498 000 |
55.63% |
320 000 |
-49.92% |
639 000 |
|
Dividends |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Group contributions |
-267 000 |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Allocation other equity/covering of
previous uncovered loss |
- |
N/A |
- |
N/A |
- |
N/A |
320 000 |
-49.92% |
639 000 |
|
Total transfers and allocations |
255 000 |
100.00% |
0 |
0.00% |
0 |
-100.00% |
320 000 |
-49.92% |
639 000 |
Assets
|
NOTE: All values displayed in 1000 |
|||||||||
|
Financial Year |
2016 |
2015 |
2014 |
2013 |
2012 |
||||
|
Currency |
NOK |
NOK |
NOK |
NOK |
NOK |
||||
|
Consolidated Accounts |
No |
No |
No |
No |
No |
||||
|
Complete Accounts |
Yes |
Yes |
Yes |
Yes |
Yes |
||||
|
Research and development |
- |
N/A |
80 000 |
-9.09% |
88 000 |
N/A |
- |
N/A |
- |
|
Concessions, patents, licences, trademarks and
similar rights |
- |
N/A |
- |
N/A |
- |
N/A |
95 000 |
-6.86% |
102 000 |
|
Deferred tax asset |
5 000 |
66.67% |
3 000 |
-25.00% |
4 000 |
-80.95% |
21 000 |
-25.00% |
28 000 |
|
Goodwill/intangible assets |
352 000 |
282.61% |
92 000 |
0.00% |
92 000 |
0.00% |
92 000 |
0.00% |
92 000 |
|
Other intangible fixed assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Intangible Assets |
357 000 |
104.00% |
175 000 |
-4.89% |
184 000 |
-11.54% |
208 000 |
-6.31% |
222 000 |
|
Land & Buildings |
7 000 |
-85.42% |
48 000 |
108.70% |
23 000 |
N/A |
- |
N/A |
- |
|
Plant & Machinery |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Ships, rigs, aircraft, etc |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Operating equipment, fixtures, fittings, tools,
office machines, etc. |
- |
N/A |
- |
N/A |
- |
N/A |
16 000 |
-23.81% |
21 000 |
|
Other operation factors |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Total Tangible Assets |
7 000 |
-85.42% |
48 000 |
108.70% |
23 000 |
43.75% |
16 000 |
-23.81% |
21 000 |
|
Shares/investment in subsidiaries |
1 050 000 |
11.11% |
945 000 |
18.42% |
798 000 |
-9.11% |
878 000 |
20.60% |
728 000 |
|
Investments in group companies |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Investments in associated companies |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Investments in shares and interests |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Bonds and other accounts receivables |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Pension funds |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other financial fixed assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Bonds |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Total financial fixed assets |
1 471 000 |
6.44% |
1 382 000 |
18.93% |
1 162 000 |
-6.82% |
1 247 000 |
14.19% |
1 092 000 |
|
Other fixed assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
TOTAL FIXED ASSETS |
1 835 000 |
14.33% |
1 605 000 |
17.24% |
1 369 000 |
-6.93% |
1 471 000 |
10.19% |
1 335 000 |
|
Raw materials and purchased
semi-manufactured goods |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Finished goods |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other inventories |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Total inventories |
169 000 |
-19.52% |
210 000 |
6.06% |
198 000 |
0.00% |
198 000 |
7.61% |
184 000 |
|
Inventories |
169 000 |
-19.52% |
210 000 |
6.06% |
198 000 |
0.00% |
198 000 |
7.61% |
184 000 |
|
Trade Receivables |
476 000 |
-25.04% |
635 000 |
14.83% |
553 000 |
24.27% |
445 000 |
9.07% |
408 000 |
|
Other Receivables |
47 000 |
193.75% |
16 000 |
45.45% |
11 000 |
-8.33% |
12 000 |
20.00% |
10 000 |
|
Receivables to companies in the same group |
859 000 |
-15.45% |
1 016 000 |
25.43% |
810 000 |
-23.00% |
1 052 000 |
23.76% |
850 000 |
|
Total receivable |
1 382 000 |
-17.10% |
1 667 000 |
21.32% |
1 374 000 |
-8.95% |
1 509 000 |
19.01% |
1 268 000 |
|
Shares and interests in group companies |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Quoted investment shares |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Quoted bonds |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other marked based financial instr. |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other financial instr. |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other investments |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Total Investments |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
0.00% |
0 |
|
Cash & Bank Deposits |
54 000 |
-26.03% |
73 000 |
5.80% |
69 000 |
15.00% |
60 000 |
-10.45% |
67 000 |
|
Total funds/bank/post |
54 000 |
-26.03% |
73 000 |
5.80% |
69 000 |
15.00% |
60 000 |
-10.45% |
67 000 |
|
Other current assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
TOTAL CURRENT ASSETS |
1 605 000 |
-17.69% |
1 950 000 |
18.83% |
1 641 000 |
-7.13% |
1 767 000 |
16.33% |
1 519 000 |
|
TOTAL ASSETS |
3 440 000 |
-3.23% |
3 555 000 |
18.11% |
3 010 000 |
-7.04% |
3 238 000 |
13.45% |
2 854 000 |
Equity And Liabilities
|
NOTE: All values displayed in 1000 |
|||||||||
|
Financial Year |
2016 |
2015 |
2014 |
2013 |
2012 |
||||
|
Currency |
NOK |
NOK |
NOK |
NOK |
NOK |
||||
|
Consolidated Accounts |
No |
No |
No |
No |
No |
||||
|
Complete Accounts |
Yes |
Yes |
Yes |
Yes |
Yes |
||||
|
Share Capital |
1 000 |
-50.00% |
2 000 |
0.00% |
2 000 |
0.00% |
2 000 |
0.00% |
2 000 |
|
Own shares (treasury stock) |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Share Premium Reserve |
- |
N/A |
180 000 |
0.00% |
180 000 |
0.00% |
180 000 |
0.00% |
180 000 |
|
Other paid-in capital |
219 000 |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
1 004 000 |
|
Total equity deposits |
220 000 |
20.88% |
182 000 |
0.00% |
182 000 |
0.00% |
182 000 |
-84.65% |
1 186 000 |
|
Valuation reserve |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other equity |
1 877 000 |
-4.09% |
1 957 000 |
26.83% |
1 543 000 |
-12.28% |
1 759 000 |
N/A |
- |
|
Minority interests ( Groups ) |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Total Retained Earnings |
1 877 000 |
-4.09% |
1 957 000 |
26.83% |
1 543 000 |
-12.28% |
1 759 000 |
100.00% |
0 |
|
Other Reserves |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
TOTAL EQUITY |
2 097 000 |
-1.96% |
2 139 000 |
24.00% |
1 725 000 |
-11.13% |
1 941 000 |
63.66% |
1 186 000 |
|
Long Term Pension Commitments |
51 000 |
18.60% |
43 000 |
-6.52% |
46 000 |
-38.67% |
75 000 |
-13.79% |
87 000 |
|
Deferred tax liabilities |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other provisions |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Total provisions for liabilities and
charges |
51 000 |
18.60% |
43 000 |
-6.52% |
46 000 |
-38.67% |
75 000 |
-13.79% |
87 000 |
|
Convertible loans |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other Long Term Loans |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Long Term Liabilities to Financial
Institutions |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Long-term group contribution liabilities |
530 000 |
-4.50% |
555 000 |
24.44% |
446 000 |
N/A |
- |
N/A |
- |
|
Liable loan capital |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other long-term liabilities |
8 000 |
0.00% |
8 000 |
100.00% |
0 |
-100.00% |
1 069 000 |
-25.92% |
1 443 000 |
|
Total other long-term liabilities |
538 000 |
-4.44% |
563 000 |
26.23% |
446 000 |
N/A |
- |
N/A |
- |
|
TOTAL LONG TERM LIABILITIES |
589 000 |
-2.81% |
606 000 |
23.17% |
492 000 |
-56.99% |
1 144 000 |
-25.23% |
1 530 000 |
|
Convertible loan |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Certificate loan |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Short Term Liabilities to Financial
Institutions |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Trade Creditors |
84 000 |
-4.55% |
88 000 |
18.92% |
74 000 |
10.45% |
67 000 |
52.27% |
44 000 |
|
Payable tax |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Special government taxes |
18 000 |
28.57% |
14 000 |
7.69% |
13 000 |
8.33% |
12 000 |
0.00% |
12 000 |
|
Suggested dividend |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Short Term Liabilities to Group |
569 000 |
-7.03% |
612 000 |
0.33% |
610 000 |
N/A |
- |
N/A |
- |
|
Other creditors |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
TOTAL CURRENT LIABILITIES |
754 000 |
-6.91% |
810 000 |
2.14% |
793 000 |
411.61% |
155 000 |
11.51% |
139 000 |
|
TOTAL LIABILITIES |
1 343 000 |
-5.16% |
1 416 000 |
10.19% |
1 285 000 |
-1.08% |
1 299 000 |
-22.17% |
1 669 000 |
|
Total liabilities and equity |
3 440 000 |
-3.23% |
3 555 000 |
18.11% |
3 010 000 |
-7.10% |
3 240 000 |
13.49% |
2 855 000 |
Miscellaneous
|
NOTE: All values displayed in 1000 |
|||||||||
|
Financial Year |
2016 |
2015 |
2014 |
2013 |
2012 |
||||
|
Total Exports |
- |
N/A |
2 069 |
N/A |
- |
N/A |
- |
N/A |
- |
|
Working Capital |
851 000 |
-25.35% |
1 140 000 |
34.43% |
848 000 |
-47.39% |
1 612 000 |
16.81% |
1 380 000 |
|
Net Worth |
1 740 000 |
-11.41% |
1 964 000 |
27.45% |
1 541 000 |
-11.08% |
1 733 000 |
79.77% |
964 000 |
|
Capital Employed |
2 686 000 |
-2.15% |
2 745 000 |
23.82% |
2 217 000 |
-28.14% |
3 085 000 |
13.59% |
2 716 000 |
|
Man-labour year |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Employees |
223 |
12.06% |
199 |
2.58% |
194 |
3.74% |
187 |
-3.11% |
193 |
|
General manager salary |
2 862 |
3.77% |
2 758 |
3.06% |
2 676 |
6.02% |
2 524 |
37.70% |
1 833 |
|
Auditor's remuneration |
1 236 |
0.98% |
1 224 |
4.53% |
1 171 |
-2.25% |
1 198 |
2.39% |
1 170 |
Ratios
|
Financial Year |
2016 |
2015 |
2014 |
2013 |
2012 |
|
Pre-Tax Profit Margin |
15.02 |
41.81 |
36.75 |
22.78 |
41.38 |
|
Return on Capital Employed |
10.61 |
31.51 |
29.59 |
12.32 |
24.23 |
|
Return on Total Assets Employed |
8.28 |
24.33 |
21.79 |
11.74 |
23.06 |
|
Return on Net Assets Employed |
13.59 |
40.44 |
38.03 |
19.58 |
55.48 |
|
Sales/Net Working Capital |
2.23 |
1.81 |
2.10 |
1.03 |
1.15 |
|
Stock Turnover Ratio |
8.91 |
10.15 |
11.09 |
11.87 |
11.57 |
|
Debtor Days |
91.59 |
112.02 |
113.08 |
97.38 |
93.66 |
|
Creditor Days |
16.16 |
15.52 |
15.13 |
14.66 |
10.10 |
|
Current Ratio |
2.13 |
2.41 |
2.07 |
11.40 |
10.93 |
|
Liquidity Ratio/Acid Test |
1.90 |
2.15 |
1.82 |
10.12 |
9.60 |
|
Current Debt Ratio |
0.36 |
0.38 |
0.46 |
0.08 |
0.12 |
|
Solvency Ratio |
60.96 |
60.17 |
57.31 |
59.94 |
41.56 |
|
Equity in Percentage |
130.09 |
107.06 |
103.67 |
108.86 |
77.01 |
|
Total Debt Ratio |
0.64 |
0.66 |
0.74 |
0.67 |
1.41 |
No Auditor Remarks information available for
the company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.55 |
|
|
1 |
INR 89.82 |
|
Euro |
1 |
INR 78.87 |
|
NOK |
1 |
INR 8.27 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.