|
|
|
MIRA
INFORM REPORT
|
Report No. : |
508968 |
|
Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GLAMOX AS |
|
|
|
|
Registered Office : |
Birger Hatlebakks
veg 15 6415 Molde |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2016 |
|
|
|
|
Date of Incorporation : |
19.02.1995 |
|
|
|
|
Com. Reg. No.: |
912007782 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Subject is
engaged in Manufacture of electric lighting equipment. |
|
|
|
|
No. of Employees : |
482 |
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 : |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
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. However, as a member of the European Economic Area, Norway partially participates in the EU’s single market and contributes sizably to the EU budget.
The country is richly endowed with natural resources such as oil and gas, 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, although oil production is close to 50% below its peak in 2000. Gas production, conversely, has more than doubled since 2000. Although oil production is historically low, it rose in 2016 for the third consecutive year due to the higher production of existing oil fields and to new fields coming on stream. Norway’s domestic electricity production relies almost entirely on hydropower.
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 over $1 trillion at the end of 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. The Norwegian economy has been adjusting to lower energy prices, as demonstrated by growth in labor force participation and employment in 2017. GDP growth was about 1.5% in 2017, driven largely by domestic demand, which has been boosted by the rebound in the labor market and supportive fiscal policies. Economic growth is expected to remain constant or improve slightly in the next few years.
|
Source
: CIA |
Company name and address
|
Company
Name |
GLAMOX
AS |
|
Company
Number |
912007782 |
|
Legal
Form |
Limited
company |
|
Status |
Active |
|
Address |
Birger
Hatlebakks veg 15 |
|
City |
6415
MOLDE |
|
Website
Address |
- |
|
Telephone |
71246000 |
|
Share
Capital |
65
988 668 |
|
Previous
Name |
GLAMOX
ASA |
|
Name
Change Date |
26/08/1999 |
|
Registration
Date |
19/02/1995 |
|
Register
Type |
Register
of Business Enterprises and VAT Register |
|
E-mail
Address |
|
|
Fax
Number |
71246001 |
|
Currency |
NOK |
|
Number
of Employees |
482 |
Postal Address
|
ADDRESS |
CITY |
|
- |
- |
Key
Financials
|
YEAR TO DATE |
SALES REVENUE |
PROFIT BEFORE TAX |
TOTAL EQUITY |
|
2016 |
1
272 707 |
417
767 |
428
906 |
|
2015 |
1
329 802 |
126
751 |
134
859 |
|
2014 |
1
277 879 |
209
136 |
93
242 |
|
2013 |
1
151 794 |
83
034 |
361
822 |
|
2012 |
1
054 096 |
122
352 |
396
194 |
Industry
|
Main
Industry Code & Description |
27.400
Manufacture of electric lighting equipment |
|
Secondary
Industry Code & Description |
46.473
Wholesale of lighting equipment |
|
Other
Industry Code & Description |
- |
|
Sector
Code |
710 |
Ultimate
Holding Company
|
COMPANY NAME |
COUNTRY FLAG |
COMPANY NUMBER |
|
ARENDALS
FOSSEKOMPANI ASA |
- |
|
|
15
companies in 6 countries. |
||
Summary
|
Type |
Number |
Total
Amount |
|
Unsettled
ROP |
4 |
23
744 |
|
Partly
Settled ROP |
0 |
0 |
|
Voluntary
Pledge |
8 |
5
580 000 000 |
Voluntary Pledge (Not Negative)
|
Type |
Date |
Ref
Nr |
Amount |
Creditor |
Status |
|
ENCUMBERED
STOCK |
28/12/2017 |
628842 |
1
600 000 000 |
Danske
Bank A/S, Holmens Kanal 2-12, 1092 Københav |
- |
|
CONTRACT
OF FACTORING |
28/12/2017 |
628844 |
1
600 000 000 |
Danske
Bank A/S, Holmens Kanal 2-12, DK-1092 Copen |
- |
|
ENCUMBERED
MACHINERY AND PLANT |
28/12/2017 |
628843 |
1
600 000 000 |
Danske
Bank A/S, Holmens Kanal 2-12, 1092 Københav |
- |
|
ENCUMBERED
STOCK |
13/01/2017 |
019258 |
450
000 000 |
DANSKE
BANK |
- |
|
CONTRACT
OF FACTORING |
14/11/2016 |
520829 |
10
000 000 |
DNB
BANK ASA |
- |
|
ENCUMBERED
MACHINERY AND PLANT |
24/01/2002 |
027377 |
20
000 000 |
SND
Møre og Romsdal, Ålesund |
- |
|
CONTRACT
OF FACTORING |
12/02/2001 |
041496 |
300
000 000 |
Fokus
Bank ASA, Trondheim |
- |
|
LEASING
CONTRACT MOTOR VEHICLE |
12/07/1996 |
176223 |
0 |
Volvo
Finans Norge AS, Kolbotn |
- |
Remarks of Payment (Negative)
|
Type |
Date |
Ref
Nr |
Amount |
Creditor |
Status |
|
DEBT
COLLECTION |
04/05/2018 |
84620830 |
9
829 |
POSTEN
NORGE AS |
- |
|
DEBT
COLLECTION |
04/05/2018 |
84622521 |
272 |
POSTEN
NORGE AS |
- |
|
DEBT
COLLECTION |
04/05/2018 |
84617315 |
331 |
POSTEN
NORGE AS |
- |
|
DEBT
COLLECTION |
20/01/2018 |
4830106 |
13
313 |
Toyota
Material Handling Norway AS |
- |
Event History
|
DATE |
DESCRIPTION |
|
25/11/2016 |
New
rating algorithm introduced |
|
04/01/2017 |
Limit
change |
|
27/07/2017 |
Limit
change |
|
13/12/2017 |
Limit
change |
|
13/12/2017 |
Rating
change |
|
|
Company
Name |
Company
Number |
Last
Account Published |
Revenue |
|
1 |
ARENDALS
FOSSEKOMPANI ASA |
- |
31/12/2016 |
108
750 KNOK |
|
2 |
MARKEDSKRAFT
AS |
- |
31/12/2016 |
121
261 KNOK |
|
2 |
GLAMOX
AS |
- |
31/12/2016 |
1
272 707 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 |
|
Marthinussen,
Rune Edvin |
Skovveien
35 OSLO 0258 |
02/12/1959 |
General
manager/CEO |
|
Aro,
Esko Mikael |
Triton
Ludviginkatu 3-5 A 7, 3rd floor |
10/07/1965 |
Chairman
of the board |
|
Backemar,
Gustaf Erik David |
Triton
Kungsträdgårdsgatan 20, 7th floor |
02/05/1982 |
Board
member(s) |
|
Eidem,
Henny Oddrun Sandblåst |
Åsvegen
500 TORNES I ROMSDAL 6443 |
07/12/1960 |
Board
member(s) |
|
Hofvenstam,
Sten Thomas |
Triton
Kungstrãdgårdsgatan 20, 7th floor |
24/06/1969 |
Board
member(s) |
|
Kildal,
Torfinn |
Schlanbusch
Vei 16 B KONGSBERG 3612 |
01/07/1954 |
Board
member(s) |
|
Nysæther,
Arild |
Gråkamveien
14 B OSLO 0779 |
10/11/1971 |
Board
member(s) |
|
Røiri,
Lars Ivar |
Syrenveien
19 A OSLO 0870 |
06/06/1961 |
Board
member(s) |
|
Ytterstad,
Espen |
Ole
Tobias Olsens Vei 20 BODØ 8021 |
21/02/1965 |
Board
member(s) |
|
Ødegård,
Mette Smisetfoss |
Fannefjordsvegen
681 MOLDE 6421 |
07/10/1969 |
Board
member(s) |
|
Iversen,
Nils Erik |
Teppavegen
8 KIRKENÆR 2260 |
22/08/1967 |
Deputy
board member/substitute |
|
Johansen,
Sigmund Monrad |
Frænavegen
5 MOLDE 6415 |
22/06/1960 |
Deputy
board member/substitute |
|
Pascal,
Christian Jean Yves |
Fuglsetvegen
12 A MOLDE 6415 |
28/06/1957 |
Deputy
board member/substitute |
|
Pedersen,
Hans Richard |
Rekkebovegen
7 MOLDE 6412 |
09/10/1977 |
Deputy
board member/substitute |
|
Stavik,
Elin Heidi |
Nybyggervegen
15 MOLDE 6409 |
11/01/1980 |
Deputy
board member/substitute |
|
More
Directors available, please refer to the company report |
|||
Signature
|
Signature |
Styrets
formann sammen med ett av de øvrige styremedlemmene. |
Procurement
|
Procurement |
Daglig
leder alene. |
Auditors
|
Name |
Company
Number |
Status |
Date |
|
KPMG
AS |
935174627 |
Active |
13/08/1997 |
Other
Company Officials
|
Name |
Address |
Date
of Birth |
Function |
|
- |
- |
- |
- |
Shareholders
|
SHAREHOLDER NAME |
NUMBER OF SHARES |
PERCENTAGE SHARE |
|
ARENDALS
FOSSEKOMPANI ASA |
49598116 |
75.16 |
|
FONDSAVANSE
AS |
15160083 |
22.97 |
|
ERIK
MUST |
639388 |
0.97 |
|
IBEN
MUST |
100000 |
0.15 |
|
JONATHAN
MUST |
100000 |
0.15 |
|
NORA
MUST |
100000 |
0.15 |
|
REBECKA
MUST |
100000 |
0.15 |
|
SELMA
MUST |
100000 |
0.15 |
|
LEGE
FR ARENTZ LEGAT |
59237 |
0.09 |
|
SUM
ØVRIGE (159 STK. AKSJONÆRER) |
20491 |
0.03 |
|
POLLENINVEST
AS NIL |
11353 |
0.02 |
Group Linkages
|
COMPANY NAME |
COMPANY NUMBER |
LAST ACCOUNT |
REVENUE |
|
NSSLGLOBAL
LIMITED |
03879526 |
31/12/2017 |
72
759 000 |
|
GLAMOX LICHT GmbH |
915348187 |
31/12/2009 |
10
725 827 |
|
EFD
Induction GmbH |
911068088 |
31/12/2015 |
32
022 918 |
|
GLAMOX
IRELAND LIMITED |
IE243959 |
31/12/2016 |
- |
|
EFD INDUCTION LIMITED |
01193252 |
31/12/2016 |
3
200 624 |
|
Glamox B.V. |
244771410000 |
31/12/2017 |
- |
|
Kommunikationskonsulten i Sverige AB |
5569377467 |
31/12/2016 |
0 |
|
GLAMOX LTD |
00670006 |
31/12/2017 |
8
731 754 |
|
MARINE ELECTRONIC SOLUTIONS LIMITED |
06335232 |
31/12/2017 |
1 289 848 |
|
AERO-SATCOM LIMITED |
09689895 |
31/12/2017 |
239
245 |
|
NSSL LIMITED |
03162148 |
31/12/2017 |
- |
|
NERA SATELLITE SERVICES LIMITED |
07423489 |
31/12/2017 |
- |
|
ARENDALS FOSSEKOMPANI ASA |
- |
- |
- |
|
EFD ELVA FRITZ DUSSELDORF ASA |
- |
- |
- |
|
Wattsight GmbH |
- |
- |
- |
Announcements
|
Date |
Announcement
Type |
|
04/01/2018 |
CHANGE
OF BOARD OF DIRECTORS |
|
24/10/2017 |
CHANGE
OF BOARD OF DIRECTORS |
|
25/07/2017 |
APPROVED
END OF YEAR REPORT AND ACCOUNTS |
|
20/06/2017 |
CHANGE
OF BOARD OF DIRECTORS |
|
22/08/2016 |
CHANGE
OF BOARD OF DIRECTORS |
|
12/07/2016 |
APPROVED
END OF YEAR REPORT AND ACCOUNTS |
|
30/06/2015 |
APPROVED
END OF YEAR REPORT AND ACCOUNTS |
|
26/06/2015 |
CHANGE
OF GENERAL MANAGER |
|
09/06/2015 |
CHANGE
OF BOARD OF DIRECTORS |
|
16/06/2014 |
CHANGE
OF BUSINESS ADDRESS |
|
03/06/2014 |
APPROVED
END OF YEAR REPORT AND ACCOUNTS |
|
31/12/2013 |
CHANGE
OF DATE IN ARTICLES OF ASSOCIATON |
|
31/12/2013 |
CHANGE
IN BUSINESS NAME |
|
25/06/2013 |
CHANGE
OF BOARD OF DIRECTORS |
|
29/05/2013 |
APPROVED
END OF YEAR REPORT AND ACCOUNTS |
|
11/06/2012 |
Authorization
of acquisition of own shares |
|
26/05/2012 |
APPROVED
END OF YEAR REPORT AND ACCOUNTS |
|
COMPANY NAME |
COMPANY NUMBER |
INDUSTRY CODE |
ADDRESS |
CITY |
TELEPHONE |
STATUS |
|
GLAMOX
ASA AVD HØVIK LYS PRODUKSJON |
980804933 |
27.400 |
Sørliveien
84 |
1787
HALDEN |
- |
Deleted |
|
GLAMOX
AS GLAMOX PRODUCTION MOLDE |
974306115 |
27.400 |
Birger
Hatlebakks veg 15 |
- |
71252777 |
Active |
|
GLAMOX
AS AVD LARVIK |
974304260 |
46.473 |
Kanalgata
1 |
- |
22021100 |
Active |
|
GLAMOX
AS AVD PRODUKSJON KIRKENÆR |
973099175 |
27.400 |
Bruksvegen
7 |
- |
- |
Active |
|
GLAMOX
AS AVD HAMAR |
974304295 |
46.473 |
Valhallvegen
53 |
- |
22021100 |
Active |
|
GLAMOX
AS AVD NORSELIGHT |
874177172 |
27.400 |
Sørliveien
84 |
6415
MOLDE |
- |
Active |
|
GLAMOX
AS AVD HARSTAD |
974304244 |
46.473 |
Storgata
5 |
9483
HARSTAD |
22021100 |
Active |
|
GLAMOX
AS ALL HANDEL |
974153327 |
46.473 |
Birger
Hatlebakks vei 15 |
- |
071250400 |
Active |
|
GLAMOX
AS AVD TRONDHEIM |
974304228 |
46.473 |
Østre
Rosten 90 |
- |
22021100 |
Active |
|
GLAMOX
AS AVD OSLO |
874304212 |
46.473 |
Hoffsveien
1C |
0212
OSLO |
22021100 |
Active |
|
GLAMOX
AS AVD STAVANGER |
873140372 |
46.473 |
Gauseltunet
13 |
4093
STAVANGER |
22021100 |
Active |
|
GLAMOX
ASA AVD HØVIK MARINE LIGHTNING |
980811492 |
27.400 |
Sørliveien
84 |
1787
HALDEN |
69214201 |
Deleted |
|
GLAMOX
AS AVD BERGEN |
973140337 |
46.473 |
Kanalveien
66 |
- |
22021100 |
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
272 707 |
-4.29% |
1
329 802 |
4.06% |
1
277 879 |
10.95% |
1
151 794 |
9.27% |
1
054 096 |
|
Other
operating income |
105
837 |
2.64% |
103
117 |
10.57% |
93
260 |
5.14% |
88
699 |
5.54% |
84
043 |
|
Total
Operating Income |
1
378 544 |
-3.79% |
1
432 919 |
4.51% |
1
371 139 |
10.53% |
1
240 493 |
8.99% |
1
138 139 |
|
Cost
of stocks |
830
527 |
1.10% |
821
521 |
8.92% |
754
232 |
12.52% |
670
320 |
11.64% |
600
449 |
|
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 |
336
493 |
-9.53% |
371
927 |
2.25% |
363
728 |
6.90% |
340
255 |
6.39% |
319
811 |
|
Depreciation |
19
445 |
-9.87% |
21
574 |
-5.31% |
22
784 |
-7.47% |
24
624 |
-12.07% |
28
005 |
|
Write
down of tangible and intangible fixed assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other
operating expenses |
121
280 |
6.73% |
113
637 |
-2.54% |
116
593 |
0.55% |
115
958 |
4.71% |
110
742 |
|
Total
Operating Expenses |
1
307 745 |
-1.57% |
1
328 659 |
5.67% |
1
257 337 |
9.22% |
1
151 157 |
8.70% |
1
059 007 |
|
Operating
Profit |
70
799 |
-32.09% |
104
260 |
-8.38% |
113
802 |
27.39% |
89
336 |
12.89% |
79
132 |
|
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 |
2
728 |
19.18% |
2
289 |
7.82% |
2
123 |
-39.10% |
3
486 |
-49.61% |
6
918 |
|
Other
interest income |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other
financial income |
38
273 |
620.64% |
5
311 |
-44.92% |
9
642 |
-10.11% |
10
727 |
-61.73% |
28
030 |
|
Financial
Income |
359
768 |
389.32% |
73
524 |
-45.57% |
135
080 |
196.38% |
45
577 |
-12.92% |
52
338 |
|
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 |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other
financial expenses |
12
800 |
-74.92% |
51
033 |
28.40% |
39
746 |
-23.39% |
51
879 |
468.97% |
9
118 |
|
Other
financial costs |
12
800 |
-74.92% |
51
033 |
28.40% |
39
746 |
-23.39% |
51
879 |
468.97% |
9
118 |
|
Financial
Expenses |
12
800 |
-74.92% |
51
033 |
28.40% |
39
746 |
-23.39% |
51
879 |
468.97% |
9
118 |
|
Total\net
financial items |
346
968 |
+ |
22
491 |
-76.41% |
95
334 |
+ |
-6
302 |
-114.58% |
43
220 |
|
Profit
Before Tax |
417
767 |
229.60% |
126
751 |
-39.39% |
209
136 |
151.87% |
83
034 |
-32.14% |
122
352 |
|
Tax |
28
511 |
62.67% |
17
527 |
-30.61% |
25
257 |
51.19% |
16
706 |
-36.98% |
26
507 |
|
Profit
After Tax |
389
256 |
256.38% |
109
224 |
-40.60% |
183
879 |
177.23% |
66
328 |
-30.80% |
95
845 |
|
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 |
389
256 |
256.38% |
109
224 |
-40.60% |
183
879 |
177.23% |
66
328 |
-30.80% |
95
845 |
|
Dividends |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Group
contributions |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Allocation
other equity/covering of previous uncovered loss |
294
232 |
+ |
10
241 |
106.51% |
-157
304 |
-381.73% |
-32
654 |
-209.37% |
29
857 |
|
Total
transfers and allocations |
389
256 |
256.38% |
109
224 |
-40.60% |
183
879 |
177.22% |
66
329 |
-30.80% |
95
846 |
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 |
- |
N/A |
- |
N/A |
0 |
-100.00% |
154 |
|
Concessions,
patents, licences, trademarks and similar rights |
- |
N/A |
- |
N/A |
0 |
-100.00% |
64 |
-79.87% |
318 |
|
Deferred
tax asset |
15
072 |
-2.97% |
15
534 |
-1.34% |
15
745 |
26.26% |
12
470 |
31.11% |
9
511 |
|
Goodwill/intangible
assets |
- |
N/A |
- |
N/A |
- |
N/A |
0 |
0.00% |
0 |
|
Other
intangible fixed assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Intangible
Assets |
15
072 |
-2.97% |
15
534 |
-1.34% |
15
745 |
25.62% |
12
534 |
25.55% |
9
983 |
|
Land
& Buildings |
54
417 |
-10.49% |
60
791 |
-9.49% |
67
165 |
-8.67% |
73
539 |
-7.98% |
79
913 |
|
Plant
& Machinery |
48
165 |
39.86% |
34
439 |
6.91% |
32
212 |
-12.88% |
36
973 |
-13.87% |
42
929 |
|
Ships,
rigs, aircraft, etc |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Operating
equipment, fixtures, fittings, tools, office machines, etc. |
13
732 |
6.38% |
12
909 |
4.21% |
12
388 |
-0.42% |
12
440 |
-18.60% |
15
282 |
|
Other
operation factors |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Total
Tangible Assets |
116
314 |
7.56% |
108
139 |
-3.24% |
111
765 |
-9.10% |
122
952 |
-10.98% |
138
124 |
|
Shares/investment
in subsidiaries |
200
356 |
57.84% |
126
940 |
19.98% |
105
802 |
1.82% |
103
915 |
1.90% |
101
979 |
|
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 |
115 |
0.00% |
115 |
0.00% |
115 |
0.00% |
115 |
0.00% |
115 |
|
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 |
271
117 |
31.72% |
205
826 |
13.32% |
181
625 |
2.87% |
176
556 |
-35.17% |
272
344 |
|
Other
fixed assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
TOTAL
FIXED ASSETS |
402
503 |
22.16% |
329
499 |
6.59% |
309
135 |
-0.93% |
312
042 |
-25.78% |
420
451 |
|
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 |
129
822 |
-0.74% |
130
790 |
-2.05% |
133
534 |
9.65% |
121
777 |
5.74% |
115
163 |
|
Inventories |
129
822 |
-0.74% |
130
790 |
-2.05% |
133
534 |
9.65% |
121
777 |
5.74% |
115
163 |
|
Trade
Receivables |
201
090 |
-4.17% |
209
838 |
12.48% |
186
558 |
-1.10% |
188
642 |
6.73% |
176
746 |
|
Other
Receivables |
368
398 |
256.57% |
103
317 |
604.66% |
14
662 |
23.65% |
11
858 |
100.00% |
0 |
|
Receivables
to companies in the same group |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Total
receivable |
569
488 |
81.85% |
313
155 |
55.63% |
201
220 |
0.36% |
200
500 |
5.69% |
189
711 |
|
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 |
306
905 |
31.51% |
233
364 |
53.86% |
151
669 |
-70.40% |
512
310 |
24.34% |
412
038 |
|
Total
funds/bank/post |
306
905 |
31.51% |
233
364 |
53.86% |
151
669 |
-70.40% |
512
310 |
24.34% |
412
038 |
|
Other
current assets |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
TOTAL
CURRENT ASSETS |
1
006 215 |
48.56% |
677
309 |
39.24% |
486
423 |
-41.72% |
834
587 |
16.41% |
716
912 |
|
TOTAL
ASSETS |
1
408 718 |
39.92% |
1
006 808 |
26.55% |
795
558 |
-30.62% |
1
146 629 |
0.81% |
1
137 363 |
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 |
65
989 |
0.00% |
65
989 |
0.00% |
65
989 |
0.00% |
65
989 |
0.00% |
65
989 |
|
Own
shares (treasury stock) |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Share
Premium Reserve |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other
paid-in capital |
27
253 |
0.00% |
27
253 |
0.00% |
27
253 |
-79.88% |
135
454 |
0.00% |
135
454 |
|
Total
equity deposits |
93
242 |
0.00% |
93
242 |
0.00% |
93
242 |
-53.71% |
201
443 |
0.00% |
201
443 |
|
Valuation
reserve |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other
equity |
335
664 |
706.56% |
41
617 |
100.00% |
0 |
-100.00% |
160
379 |
-17.65% |
194
751 |
|
Minority
interests ( Groups ) |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Total
Retained Earnings |
335
664 |
706.56% |
41
617 |
100.00% |
0 |
-100.00% |
160
379 |
-17.65% |
194
751 |
|
Other
Reserves |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
TOTAL
EQUITY |
428
906 |
218.04% |
134
859 |
44.63% |
93
242 |
-74.23% |
361
822 |
-8.68% |
396
194 |
|
Long
Term Pension Commitments |
22
010 |
-2.40% |
22
551 |
-18.30% |
27
601 |
5.44% |
26
178 |
7.05% |
24
453 |
|
Deferred
tax liabilities |
- |
N/A |
- |
N/A |
- |
N/A |
0 |
0.00% |
0 |
|
Other
provisions |
16
512 |
-6.08% |
17
580 |
38.26% |
12
715 |
19.72% |
10
621 |
215.35% |
3
368 |
|
Total
provisions for liabilities and charges |
38
522 |
-4.01% |
40
131 |
-0.46% |
40
316 |
9.56% |
36
799 |
32.27% |
27
821 |
|
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 |
111
665 |
-18.40% |
136
838 |
-7.48% |
147
904 |
-5.46% |
156
439 |
-1.94% |
159
527 |
|
Long-term
group contribution liabilities |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Liable
loan capital |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other
long-term liabilities |
19
636 |
+ |
100 |
0.00% |
100 |
0.00% |
100 |
0.00% |
100 |
|
Total
other long-term liabilities |
131
301 |
-4.12% |
136
938 |
-7.48% |
148
004 |
-5.45% |
156
539 |
-1.93% |
159
627 |
|
TOTAL
LONG TERM LIABILITIES |
169
823 |
-4.09% |
177
069 |
-5.97% |
188
320 |
-2.60% |
193
338 |
3.14% |
187
448 |
|
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 |
179
321 |
2.44% |
175
045 |
14.22% |
153
253 |
3.06% |
148
699 |
28.49% |
115
728 |
|
Payable
tax |
26
268 |
65.00% |
15
920 |
-40.54% |
26
776 |
47.13% |
18
199 |
-37.58% |
29
158 |
|
Special
government taxes |
17
115 |
31.40% |
13
025 |
-34.17% |
19
786 |
13.35% |
17
456 |
41.60% |
12
328 |
|
Suggested
dividend |
95
024 |
-4.00% |
98
983 |
100.00% |
49
492 |
-50.00% |
98
983 |
50.00% |
65
989 |
|
Short
Term Liabilities to Group |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
Other
creditors |
- |
N/A |
- |
N/A |
- |
N/A |
- |
N/A |
- |
|
TOTAL
CURRENT LIABILITIES |
809
989 |
16.57% |
694
880 |
35.19% |
513
996 |
-13.10% |
591
469 |
6.82% |
553
719 |
|
TOTAL
LIABILITIES |
979
812 |
12.37% |
871
949 |
24.15% |
702
316 |
-10.51% |
784
807 |
5.89% |
741
167 |
|
Total
liabilities and equity |
1
408 718 |
39.92% |
1
006 808 |
26.55% |
795
558 |
-30.62% |
1
146 629 |
0.81% |
1
137 361 |
Miscellaneous
|
NOTE:
All values displayed in 1000 |
|||||||||
|
Financial
Year |
2016 |
2015 |
2014 |
2013 |
2012 |
||||
|
Total
Exports |
1
378 |
-99.82% |
748
000 |
5.20% |
711
000 |
N/A |
- |
N/A |
579
000 |
|
Working
Capital |
196
226 |
+ |
-17
571 |
36.27% |
-27
573 |
-111.34% |
243
118 |
48.98% |
163
193 |
|
Net
Worth |
413
834 |
246.81% |
119
325 |
53.97% |
77
497 |
-77.81% |
349
288 |
-9.56% |
386
211 |
|
Capital
Employed |
598
729 |
91.94% |
311
928 |
10.78% |
281
562 |
-49.28% |
555
160 |
-4.88% |
583
642 |
|
Man-labour
year |
460 |
-8.91% |
505 |
-3.81% |
525 |
1.35% |
518 |
1.97% |
508 |
|
Employees |
- |
N/A |
- |
N/A |
567 |
1.98% |
556 |
1.46% |
548 |
|
General
manager salary |
- |
N/A |
- |
N/A |
2
978 |
N/A |
- |
N/A |
2
765 |
|
Auditor's
remuneration |
875 |
0.69% |
869 |
0.46% |
865 |
-4.31% |
904 |
-1.85% |
921 |
Ratios
|
Financial
Year |
2016 |
2015 |
2014 |
2013 |
2012 |
|
Pre-Tax
Profit Margin |
32.83 |
9.53 |
16.37 |
7.21 |
11.61 |
|
Return
on Capital Employed |
69.78 |
40.63 |
74.28 |
14.96 |
20.96 |
|
Return
on Total Assets Employed |
29.66 |
12.59 |
26.29 |
7.24 |
10.76 |
|
Return
on Net Assets Employed |
97.40 |
93.99 |
224.29 |
22.95 |
30.88 |
|
Sales/Net
Working Capital |
6.49 |
-75.68 |
-46.35 |
4.74 |
6.46 |
|
Stock
Turnover Ratio |
10.20 |
9.84 |
10.45 |
10.57 |
10.93 |
|
Debtor
Days |
57.67 |
57.60 |
53.29 |
59.78 |
61.20 |
|
Creditor
Days |
51.43 |
48.05 |
43.77 |
47.12 |
40.07 |
|
Current
Ratio |
1.24 |
0.97 |
0.95 |
1.41 |
1.29 |
|
Liquidity
Ratio/Acid Test |
1.08 |
0.79 |
0.69 |
1.21 |
1.09 |
|
Current
Debt Ratio |
1.89 |
5.15 |
5.51 |
1.63 |
1.40 |
|
Solvency
Ratio |
30.45 |
13.39 |
11.72 |
31.56 |
34.83 |
|
Equity
in Percentage |
38.21 |
17.17 |
15.59 |
37.79 |
46.34 |
|
Total
Debt Ratio |
2.28 |
6.47 |
7.53 |
2.17 |
1.87 |
|
DATE |
REMARK |
|
31/12/2016 |
New
audit report after the previous report has been recalled. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.22 |
|
|
1 |
INR 90.87 |
|
Euro |
1 |
INR 80.87 |
|
NOK |
1 |
INR 8.43 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
DNS |
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.