Medis ehf has been classified as number ONE on the list of Outstanding Companies of 2011. Creditinfo* has conducted an analysis, which shows which Icelandic companies scored highest in its evaluation of their strengths and stability, on the basis of certain key figures and criteria.
Of the more than 32,000 companies that are registered in the Register of Limited Companies, some 244 companies fulfil the conditions Creditinfo sets for companies to be eligible for an “Outstanding Company of 2011” certificate.
In the opinion of Creditinfo, in a small market it is more important to highlight the strengths of a company that manifest themselves in their operational stability, rather than the results of specific fiscal years. This criteria is more likely to exclude the volatile results of bigger holding and parent companies and to focus more on the strengths of companies that are operating efficiently.
The following criteria are applied in Creditinfo’s assessment of whether a company fulfils the conditions of its strength evaluation:
- The company must have submitted its annual accounts to the Icelandic Inland Revenue (RSK) for the 2008 to 2010 fiscal years
- Have a positive Creditinfo risk rating, i.e. a CIP rating of 1 – 3 (less than 1 % means a serious risk of default) in January 2012
- Have had a positive EBIT for three consecutive years from 2008 to 2010
- Have had positive annual results for three consecutive years from 2008 to 2010
- Have assets equivalent to or more than ISK 80 million in the fiscal years from 2008 to 2010
- Equity equivalent to or greater than 20% for the fiscal years 2008 to 2010
- Have a registered CEO and board members in the Register of Limited Companies
*Iceland‘s leading credit information provider. Operating in 11 countries with 400 employees.