MIRA
INFORM REPORT
|
Report Date : |
25th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
PINTOS
OY |
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Registered Office : |
Pysäkintie
70, 27510 Eura |
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Country : |
Finland |
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Financials (as on) : |
31.01.2006 |
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Date of Incorporation : |
18.05.1973 |
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Legal Form : |
Joint-stock
company |
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Line of Business : |
Manufacture of fasteners, screw machine
products, chains and springs |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa |
|
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 |
|
Maximum Credit Limit : |
1.900.000 EUR |
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|
|
Status : |
Excellent
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company name & Address
Pintos Oy
Pysäkintie 70, 27510 Eura
Telephone : +358 2
8385200
Telefax : +358 2 8651755
Trade register number
218846
Registered
18.05.1973
Business ID
01321949
Business started
01.01.1974
Turnover
In
2006, the turnover amounted to 39.885 thousand EUR, the length of the
accounting period was 12 months, and the period ended on 31.01.2006.
Number of employees
In 2006, the number of employees amounted to 127.
Line of business
The company´s investigated line of business on 11.04.2005 is: manufacture of fasteners, screw machine products, chains and springs (28740)
Maximum credit recommendation
1.900.000
EUR
Basics
|
Company form |
Joint-stock company |
|
|
Type of ownership |
Private Finnish |
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|
Share capital |
Paid share capital: 10.200 EUR |
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|
Activity |
In 2006, the turnover amounted to 39.885
thousand EUR, the length of the accounting period was 12 months, and the period ended on 31.01.2006. In 2006, the number of employees amounted to 127. The company´s branch is Lappi. The company´s investigated line of business on 11.04.2005 is:
manufacture of fasteners, screw machine products, chains and springs (28740). According to the company, its essential products/services are
manufacture of nails, reinforcement and binding nets, and various reinforcement products. The company is engaged in export and import. The company´s main export countries
are Sweden, Norway, Denmark. The company has been in the Prepayment register since 01.03.1995.
Validity to be checked on 28.02.2007. The company has been VAT liable for business activity since
01.06.1994. The company has been in the Employer Register since 01.01.1968. According to an account of 11.04.2005, the company´s banker/financier
is Cooperative bank -Eura. |
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Other names |
Auxiliary business name: Jäki |
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Payments |
The company has no registered payment
defaults. There are positive remarks concerning the company´s
payments. |
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Persons in charge
Managing director
Pere Tuomas Olavi, from 11.05.2005 on
080570-175W, Eura
Participation in 2 companies on the basis of the identity number, the companies have no payment defaults.
Chairman
Pere Tuomo Jorma Sakari, from 24.02.1988 on
010440-161C, Eura
Participation in 12 companies on the basis of the identity number, the companies have no payment defaults.
Ordinary member
Kylävainio Maria Katariina, from 08.03.2002 on
190374-112C, Keitele
No participation in companies on the basis of the identity number.
Ordinary member
Laitervo Erkki Sakari, from 08.03.2002 on
040644-079A, Naantali
Participation in 4 companies on the basis of the identity number, the companies have no payment defaults.
Ordinary member
Pere Helmi Irmeli, from 24.02.1988 on
170843-056A, Eura
Participation in 3 companies on the basis of the identity number, the companies have no payment defaults.
Ordinary member
Pere Samu Sakari, from 25.08.1993 on
071168-1016, Eura
Participation in 3 companies on the basis of the identity number, the companies have no payment defaults.
Ordinary member
Pere Tuomas Olavi, from 25.08.1993 on
080570-175W, Eura
Participation in 2 companies on the basis of the identity number, the companies have no payment defaults.
Authorised signature
According to the statutes, the chairman of the Board and the managing director sign for the firm separately, and the members of the Board, two jointly.
Procuration rights have not
been granted.
Business mortgages
Business mortgages total altogether 1.901 thousand EUR.
Group structure
The company is parent company in the group Pintos -konserni.
Financial statement analysis
The financial statement analysis is based on the financial statement data of Pintos Oy in the accounting period as at 31.01.2006. The analysis also utilizes the data of the accounting periods 2001-2005.
The company is the parent company of the group Pintos -konserni. The group turnover is 42.0 mill EUR, result 2.9 mill EUR, balance sheet total 29.6 mill EUR, return on investment 16.3 %, and equity ratio 74.4.
The auditor has approved the financial statement without remarks.
Industry comparison
The comparison includes 8 companies in the industry class 28740 Manufacture of fasteners, screw machine products, chains and springs. The risk of bankruptcy in the line is 0.0 %, and the risk of payment defaults 7.3 %. The risk of payment defaults is lower than average.
Volume
The turnover of Pintos Oy is large (39.9 mill EUR) in relation to all active companies. In its line, the company is clearly larger than average (338 tEUR). The change in turnover from the previous period is 2.2 %. In the latest accounting period, the company employed 127 persons on average. The turnover per person is 314 tEUR, which is very good compared with the line (median 111 tEUR). Thus, the productivity of labour is on a very high level.
Profitability
The operating margin of the company (13.6 %) is good, proportioned to the line (median 9.1 %). Also the operating income in % (9.9 %) is good, compared with the line (7.6 %). The central ratio for profitability, return on investment, is good (16.6 %). The average profitability in the line is 13.4 %. The profitability decreased substantially in the previous accounting period.
If, instead of the return on investment, the
return on assets is calculated,
taking also into account interest-free loans, the return ratio is 13.9 %. The return is good, in relation to
the line of business (7.5%).
Liquidity
The liquidity is very good, measured by quick ratio (2.4), which is considerably better than the average in the line (median 0.8). On the basis of this, the company´s financial buffer is bigger than normal. In the last year, the financial buffer has improved steeply. The sales receivable turnover of the company is long (45 days) compared with the line (26 days).
Solvency
The solvency of Pintos Oy is very good, measured by equity ratio (81.4 %). The median in the line is 54.5%, so the company is exceptionally solvent in its line. The company´s net gearing is 0.0, which can be considered very good. The relative indebtedness is 12.9%, which is good compared with the median in the line (23.7%). According to the capital structure ratios, the company´s debt burden is very low.
Summary
and remarks
The company belongs to the group Pintos -konserni. The return on investment of the group is good and the equity ratio very good. The company´s profitability, liquidity and solvency are all good or very good. This renders really good possibilities for a successful continuation of operation.
With respect to the line, the company´s preconditions for activities (profitability, liquidity and solvency) are good.
]
The verbal
interpretation of the financial statements analysis has been produced programmatically from unadjusted
financial statements.
Audit
of the accounts
Auditor in the accounting period as at 01.02.2005 - 31.01.2006:
KHT Pettersson Matti, Tilintarkastustoimisto Idman & Vilén Oy
The auditor has approved the financial statement without remarks.
Number of enquiries
37 enqsuiries have been made on the company during the past 6 months, of which 9 during the past 30 days.
Suomen Asiakastieto Oy does not guarantee that the information in the report is correct or complete, nor does it
assume responsibility for damages possibly caused by the use of this report.
Company´s payments
|
Period |
Code |
From due date |
Delayed, total |
|
Number of observations |
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10/2006 |
ML |
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1 |
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09/2006 |
ML |
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1 |
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08/2006 |
ML |
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1 |
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07/2006 |
ML |
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1 |
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06/2006 |
ML |
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1 |
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05/2006 |
ML |
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1 |
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04/2006 |
ML |
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1 |
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03/2006 |
ML |
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1 |
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|||||
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02/2006 |
ML |
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1 |
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01/2006 |
ML |
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1 |
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12/2005 |
ML |
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1 |
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Business mortgages
|
Numbers |
Amount |
Amount,
each |
Creditor or holder/ Receiver of secondary
mortgage |
Date of application |
|
|
||||
|
001 - 009 |
9 |
16,8 t EUR |
Osuuspankkien Keskuspankki Oy |
14.12.1987 |
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|
|
|
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|
010 - 019 |
10 |
16,8 t EUR |
Osuuspankkien Keskuspankki Oy |
14.12.1987 |
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|
|
|
|
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|
020 - 039 |
20 |
16,8 t EUR |
Kehitysaluerahasto Oy |
16.11.1988 |
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|
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|
040 - 051 |
12 |
42,0 t EUR |
Kehitysaluerahasto Oy |
17.04.1989 |
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|
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|
052 - 055 |
4 |
16,8 t EUR |
Kehitysaluerahasto Oy |
01.11.1991 |
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|
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|
056 - 063 |
8 |
84,1 t EUR |
Finnvera Oyj |
28.06.2001 |
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|
|
|
|
|
Business mortgages, total 1.900,5
t EUR
The
register is not equivalent to the official extract. The official extracts are
available at the trade register.
Summary of the profit and loss
account (t EUR)
|
|
31.01.2006 12
months |
31.01.2005 13
months |
31.12.2003 12
months |
|
Turnover |
39.885,0 |
42.290,7 |
29.176,1 |
|
Other operating income |
-208,7 |
693,4 |
616,0 |
|
Raw materials and services |
-25.183,1 |
-25.701,8 |
-17.898,9 |
|
Gross result |
14.493,2 |
17.282,2 |
11.893,2 |
|
Other operating expenses |
-9.083,1 |
-8.921,2 |
-7.952,3 |
|
Depreciation |
-1.456,6 |
-1.386,4 |
-1.252,0 |
|
Operating result |
3.953,5 |
6.974,7 |
2.688,8 |
|
Financing income |
76,7 |
53,2 |
47,3 |
|
Financing expenses |
-83,2 |
-67,0 |
-55,1 |
|
Result before extraordinary items |
3.947,0 |
6.960,8 |
2.681,0 |
|
Extraordinary items |
-130,0 |
|
|
|
Result before appropriations and taxes |
3.817,0 |
6.960,8 |
2.681,0 |
|
Appropriations |
-99,3 |
-126,1 |
-376,1 |
|
Direct taxes |
-953,5 |
-1.806,3 |
-677,3 |
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|
|
|
|
|
Result for the financial year |
2.764,2 |
5.028,4 |
1.627,6 |
Summary of the profit and loss account (t
EUR)
|
|
31.12.2002 12
months |
31.12.2001 12
months |
31.12.2000 12
months |
|
Turnover |
27.650,3 |
27.879,4 |
26.715,6 |
|
Other operating income |
166,9 |
-176,8 |
555,2 |
|
Raw materials and services |
-15.516,4 |
-15.962,1 |
-15.342,9 |
|
Gross result |
12.300,8 |
11.740,5 |
11.927,9 |
|
Other operating expenses |
-7.794,4 |
-7.423,3 |
-7.077,7 |
|
Depreciation |
-1.221,3 |
-1.168,0 |
-1.070,5 |
|
Operating result |
3.285,1 |
3.149,1 |
3.779,7 |
|
Financing income |
51,8 |
53,7 |
71,5 |
|
Financing expenses |
-107,1 |
-116,1 |
-87,1 |
|
Result before extraordinary items |
3.229,8 |
3.086,7 |
3.764,0 |
|
Extraordinary items |
|
-285,5 |
58,9 |
|
Result before appropriations and taxes |
3.229,8 |
2.801,2 |
3.822,9 |
|
Appropriations |
-390,5 |
-475,6 |
242,2 |
|
Direct taxes |
-818,8 |
-678,0 |
-1.182,7 |
|
|
|
|
|
|
Result for the financial year |
2.020,6 |
1.647,6 |
2.882,4 |
Profit and loss account (t EUR)
|
|
31.01.2006 12
months |
|
PROFIT
AND LOSS ACCOUNT
|
|
|
TURNOVER |
39.885,0 |
|
Change
in finished goods and work-in-progress inv |
-241,3 |
|
Production
for own use |
2,3 |
|
Other
operating income |
30,3 |
|
Materials
and services
|
|
|
Materials,
supplies and goods
|
|
|
Purchases
during the fiscal period |
-20.769,8 |
|
Change
in raw material inventories |
-4.310,5 |
|
Outsourced
services |
-102,9 |
|
Personnel
expenses
|
|
|
Salaries
and wages |
-3.951,6 |
|
Social
security expenses
|
|
|
Pension
expenses |
-697,2 |
|
Other
social security expenses |
-449,8 |
|
Depreciation
and reductions in value
|
|
|
Depreciation
according to plan |
-1.456,6 |
|
Other
operating expenses |
-3.984,6 |
|
OPERATING
RESULT
|
3.953,5 |
|
Financial
income and expenses
|
|
|
Income
on investments in other fixed assets |
29,1 |
|
Other
interest and financial income |
47,6 |
|
Interest
and other financial expenses |
-83,2 |
|
RESULT
BEFORE EXTRAORDINARY ITEMS
|
3.947,0 |
|
Extraordinary
items
|
|
|
Extraordinary
expenses |
-130,0 |
|
RESULT
BEFORE CLOSING ENTRIES AND TAXES |
3.817,0 |
|
Closing
entries
|
|
|
Change
in depreciation difference |
-99,3 |
|
Income
taxes |
-953,5 |
|
|
|
|
RESULT
FOR THE FISCAL PERIOD
|
2.764,2 |
|
|
|
Summary of the balance sheet (t
EUR)
|
|
31.01.2006 12
months |
31.01.2005 13
months |
31.12.2003 12
months |
|
Intangible assets |
233,2 |
155,2 |
144,3 |
|
Tangible assets |
11.095,4 |
11.014,2 |
10.548,3 |
|
Investments |
434,0 |
434,0 |
433,9 |
|
Stocks |
6.906,3 |
11.458,1 |
7.426,2 |
|
Current financial assets |
9.042,6 |
7.290,5 |
2.621,7 |
|
Subscribed capital |
10,2 |
10,2 |
8,6 |
|
Reserves |
|
|
|
|
Retained earnings |
14.922,2 |
10.975,0 |
10.590,1 |
|
Result for the financial year |
2.764,2 |
5.028,4 |
1.627,6 |
|
Subordinated loans |
|
|
|
|
Accumulated appropriations |
4.861,7 |
4.762,4 |
4.636,3 |
|
Provisions |
|
|
|
|
Long-term debts |
1.346,0 |
1.519,0 |
798,5 |
|
Current liabilities |
3.807,2 |
8.057,0 |
3.513,4 |
|
|
|
|
|
|
Balance sheet total |
27.711,5 |
30.352,0 |
21.174,4 |
Summary of the balance sheet (t
EUR)
|
|
31.12.2002 12
months |
31.12.2001 12
months |
31.12.2000 12
months |
|
Intangible assets |
146,8 |
166,7 |
137,2 |
|
Tangible assets |
10.164,9 |
10.168,8 |
7.609,0 |
|
Investments |
433,9 |
433,9 |
433,9 |
|
Stocks |
5.577,9 |
6.021,1 |
5.757,9 |
|
Current financial assets |
3.823,7 |
3.258,7 |
4.038,5 |
|
Subscribed capital |
8,6 |
8,6 |
8,6 |
|
Reserves |
|
|
|
|
Retained earnings |
9.749,4 |
8.917,7 |
6.876,2 |
|
Result for the financial year |
2.020,6 |
1.647,6 |
2.882,4 |
|
Subordinated loans |
|
|
|
|
Accumulated appropriations |
4.260,2 |
3.869,7 |
3.394,2 |
|
Provisions |
|
|
|
|
Long-term debts |
1.211,5 |
1.554,1 |
918,1 |
|
Current liabilities |
2.897,1 |
4.051,6 |
3.897,3 |
|
|
|
|
|
|
Balance sheet total |
20.147,3 |
20.049,3 |
17.976,6 |
Balance
sheet (t EUR)
|
|
31.01.2006 12
months |
|
BALANCE
SHEET
|
|
|
ASSETS |
|
|
FIXED
AND OTHER NON-CURRENT ASSETS
|
|
|
Intangible
assets
|
|
|
Intangible
rights |
233,2 |
|
Tangible
assets
|
|
|
Land
and water areas |
125,0 |
|
Buildings
and constructions |
3.060,8 |
|
Machinery
and equipment |
7.623,9 |
|
Other
tangible assets |
104,9 |
|
Advances
paid and fixed assets under construction |
180,9 |
|
Investments |
|
|
Shares/Similar
rights of ownership in group compa |
324,3 |
|
Other
receivables |
109,8 |
|
CURRENT
ASSETS
|
|
|
Inventories
and work-in-progress
|
|
|
Materials
and supplies |
3.093,9 |
|
Work-in-progress
|
754,3 |
|
Finished
goods |
3.058,2 |
|
Receivables |
|
|
Long
term receivables
|
|
|
Short
term receivables
|
|
|
Trade
receivables |
4.927,5 |
|
Loan
receivables |
270,9 |
|
Prepaid
expenses and accrued income |
1.094,9 |
|
Financial
assets
|
|
|
Other
securities |
1.000,0 |
|
Cash
in hand and at banks
|
1.749,2 |
|
|
|
|
BALANCE
SHEET TOTAL
|
27.711,5 |
|
|
|
|
SHAREHOLDERS´
EQUITY AND LIABILITIES
|
|
|
SHAREHOLDERS´
EQUITY
|
|
|
Share
capital, subscribed capital of a co-operati |
10,2 |
|
Other
reserves
|
|
|
Retained
earnings (losses) |
14.922,2 |
|
Result
for the fiscal period |
2.764,2 |
|
ACCUMULATED
CLOSING ENTRIES
|
|
|
Depreciation
difference |
4.861,7 |
|
LIABILITIES |
|
|
Long
term liabilities
|
|
|
Loans
from financial institutions |
1.346,0 |
|
Short
term liabilities
|
|
|
Loans
from financial institutions |
173,0 |
|
Trade
payables |
1.980,7 |
|
Other
loans and liabilities |
643,8 |
|
Deferred
income and accrued expenses |
1.009,7 |
|
|
|
|
BALANCE
SHEET TOTAL
|
27.711,5 |
Information about the audit
Accounting period 31.01.2006
The
auditor has approved the financial statement without remarks.
Auditors
Name
Pettersson
Matti KHT Tilintarkastustoimisto
Idman & Vilén Oy
Company´s ratios
|
31.01.2006 |
31.01.2005 |
|
31.12.2003 |
31.12.2002 |
|
|
Volume |
|
|
|
|
|
|
Turnover
EUR 1000 |
39.885,0 |
42.290,7 |
|
29.176,1 |
27.650,3 |
|
Change
in turnover in % |
2,2 |
33,8 |
|
5,5 |
-0,8 |
|
Turnover/person
EUR 1000 |
314,1 |
312,3 |
|
239,1 |
223,0 |
|
Profitability |
|
|
|
|
|
|
Operating
margin in % |
13,6 |
19,7 |
|
13,5 |
16,3 |
|
Operating
income in % |
9,9 |
16,5 |
|
9,2 |
11,9 |
|
Return
on investment in % |
16,6 |
30,9 |
|
15,2 |
19,4 |
|
Return
on total assets in % |
13,9 |
25,2 |
|
13,2 |
16,6 |
|
Liquidity |
|
|
|
|
|
|
Quick
ratio |
2,4 |
0,9 |
|
0,7 |
1,3 |
|
Current
ratio |
4,2 |
2,3 |
|
2,9 |
3,2 |
|
Solvency |
|
|
|
|
|
|
Equity
ratio in % |
81,4 |
68,5 |
|
79,6 |
79,6 |
|
Net
gearing |
0,0 |
0,0 |
|
0,0 |
0,0 |
|
Relative
indebtedness in % |
12,9 |
24,5 |
|
14,8 |
14,9 |
|
Working capital |
|
|
|
|
|
|
Working
capital ratio in % |
24,7 |
30,1 |
|
24,7 |
21,2 |
|
Inventories/turnover
in % |
17,3 |
29,4 |
|
25,5 |
20,2 |
|
Sales
receivable turnover in days |
45 |
48 |
|
21 |
20 |
|
Accounts
payable turnover in days |
35 |
66 |
|
36 |
30 |
Ratios of the line of business
Line of business 28740 Manufacture of
fasteners, screw machine products, chains and springs (55 kpl)
|
|
|
|
|
|
|
|
Year |
2006 |
2005 |
2004 |
2003 |
2002 |
|
Companies
in the line |
8 |
30 |
39 |
40 |
33 |
|
Volume |
|
|
|
|
|
|
Turnover
EUR 1000 |
338,0 |
563,0 |
428,7 |
374,7 |
545,1 |
|
Change
in turnover in % |
8,9 |
16,9 |
5,4 |
1,6 |
-3,9 |
|
Turnover/person
EUR 1000 |
111,3 |
112,6 |
83,0 |
79,5 |
98,1 |
|
Profitability |
|
|
|
|
|
|
Operating
margin in % |
9,1 |
15,7 |
14,2 |
15,2 |
20,4 |
|
Operating
income in % |
7,6 |
9,3 |
9,6 |
8,4 |
14,2 |
|
Return
on investment in % |
13,4 |
22,2 |
14,3 |
15,0 |
20,9 |
|
Return
on total assets in % |
7,5 |
16,9 |
12,4 |
10,5 |
16,1 |
|
Liquidity |
|
|
|
|
|
|
Quick
ratio |
0,8 |
1,2 |
1,1 |
1,3 |
1,3 |
|
Current
ratio |
1,3 |
1,5 |
1,7 |
2,4 |
2,4 |
|
Solvency |
|
|
|
|
|
|
Equity
ratio in % |
54,5 |
45,6 |
39,3 |
52,3 |
61,6 |
|
Relative
indebtedness in % |
23,7 |
26,8 |
31,4 |
28,2 |
28,0 |
|
Working capital |
|
|
|
|
|
|
Working
capital ratio in % |
12,3 |
12,5 |
15,1 |
14,7 |
17,7 |
|
Inventories/turnover
in % |
9,4 |
11,6 |
12,4 |
11,4 |
13,8 |
|
Sales
receivable turnover in days |
26 |
33 |
28 |
31 |
32 |
|
Accounts
payable turnover in days |
49 |
36 |
38 |
42 |
36 |
|
|
|
|
|
||
|
|
Line of business |
All companies |
|||
|
Payment default
risk |
7,3% |
9,4% |
|||
|
Bankruptcy risk |
0,0% |
1,0% |
|||
|
|
|||||
Text concerning the authorised
signatures
According
to the statutes, the chairman of the Board and the managing director sign for
the firm separately, and the members of the Board, two jointly.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|