MIRA INFORM REPORT

 

 

Report Date :

20.12.2007

 

IDENTIFICATION DETAILS

 

Name :

SANDVIK MINING AND CONSTRUCTION OY

 

 

Registered Office :

Pihtisulunkatu 9, 33330 Tampere Fi

 

 

Country :

Finland

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

09 January 1897

 

 

Com. Reg. No.:

02116007

 

 

Legal Form :

Private joint-stock company

 

 

Line of Business :

Manufacture of machinery for mining, quarrying and construction

Manufacture of tools

Wholesale of miscellaneous machinery for use in industry, trade and navigation

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

15000000 EUR

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear


name & address

 

SANDVIK MINING AND CONSTRUCTION OY

PIHTISULUNKATU 9

33330 TAMPERE FI

Tel. Number       +358-20-544111

Fax number       +358-20-544120

web-address      WWW.SANDVIK.COM

 

 

Business founded

09 January 1897

Business registered

09 January 1897 - Private joint-stock company

Tax number :,

02116007,

Registration number,

02116007,

Brand name,

SUOMEN SANDVIK,

Registration address,

PIHTISULUNKATU 9, TAMPERE, 33330, FI

Visiting address,

PIHTISULUNKATU 9, TAMPERE, 33330, FI

Delivery address,

PL 100, TAMPERE, 33311, FI

Legal form

Private joint-stock company

Activities

Manufacture of machinery for mining, quarrying and construction

 

Manufacture of tools

 

Wholesale of miscellaneous machinery for use in industry, trade and navigation

 

Management holding companies

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 15000000 EUR is advised

Employees (Business)

 1255

Total share capital09 January 1897

EUR 114887335

Management

PARVENTO KARI JUHANI   Managing director

 

KARJALAINEN ARTO ILMARI   Deputy managing director

Boardmembers

NILSSON BERNT ERIK SEVE   Chairman of the board

 

KOIVULA JUHA TAPIO   Boardmember

 

PARVENTO KARI JUHANI   Boardmember

(Part-) Owner

SANDVIK INVEST AB   100,0 %   

Auditor

HOPEAHARJU MARI SINIKKA   Auditor

 

KPMG OY AB   Auditor

 

SOHLMAN MARKKU TAPIO   Auditor

 

PETTERSSON ROLAND LENNART   Deputy auditor

 

WESTERBACK OLE ESKIL   Deputy auditor

Bank

NORDEA PANKKI SUOMI OYJ, TAMPERE   

Branch office(s)

VANTAA   

 

KIRKKONUMMI   

 

LAHTI   

 

TAMPERE   

 

TURKU   

 

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 01 April 1997

all debentures and debenture mortgages taken out.  12866376 Total debentures / debenture mortgages

 

Corporate balance sheet/profit and loss account for the year: 01 January 2006 - 31 December 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

429.540.027,-

Total fixed assets

85.977.994,-

Total intangible fixed assets

8.172.102,-

Concessions and industrial rights, goodwill

2.493.742,-

Total tangible fixed assets

33.858.837,-

Land and buildings

11.465.427,-

Plant, machinery and equipment

22.393.410,-

Total financial fixed assets

41.453.313,-

Investments (long-term)

41.453.313,-

Total Current assets

343.562.020,-

Inventories and work in progress (incl. prepayments)

80.306.582,-

Accounts receivable (trade)

47.176.935,-

Receivables from affiliates and companies in which participations are held

215.077.381,-

Cash in hand and at bank

1.001.122,-

Total equity, provisions, liabilities, accrued expenses and deferred income

429.540.027,-

Total equity (Shareholders' funds)

297.600.386,-

Issued (subscribed) capital

114.887.335,-

Share premium account (capital reserve)

20.557.563,-

Share premium account

20.557.563,-

Statutory reserves

844.783,-

Legal reserves

13.837.836,-

Profit or loss for the previous year

67.552.922,-

Profit or loss for the financial year

79.919.947,-

Total liabilities

131.939.633,-

Total long-term liabilities

15.361.017,-

Long-term Loans, Mortgage debts

15.344.271,-

Long-term payables to affiliated companies and to companies in which participations are held

16.746,-

Total current liabilities

116.578.616,-

Current accounts payable (trade)

7.491.436,-

Current liabilities to credit institutions

51.881.454,-

Current payables to affiliated companies and to companies in which participations are held

34.338.483,-

Income and social tax liabilities

22.867.243,-

Total operating income/revenue

573.284.458,-

Main revenue (sales/turnover)

563.097.555,-

Total operating expenses

483.993.924,-

Operating profit or loss

89.290.534,-

Financial income

15.610.334,-

Financial expenses

3.039.658,-

Result of ordinary operations

101.861.210,-

Pre-tax and pre-appropriation profit or loss

101.861.210,-

Taxes

21.941.263,-

Net profit or loss

79.919.947,-

Borrowing ratio

48,31 %

Current ratio

294,29 %

Debt gearing

5,41 %

Profit margin.

18,63 %

Quick ratio

240,76 %

Return on assets

25,23 %

Return on equity.

35,9 %

Solidity or equity ratio

67,23 %

Change in turnover %

13,-

Turnover per person:

448.683,-

Trading profit %

16,-

Return on investment %

39,-

Return on capital %

27,-

Quick ratio

2,-

Current ratio

3,-

Equity ratio

67,-

Working capital %

10,-

Inventories/turnover %

14,-

Accounts receivable turnover in days

21,-

 

Corporate balance sheet/profit and loss account for the year: 01 January 2005 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

345.150.004,-

Total fixed assets

84.938.157,-

Total intangible fixed assets

5.910.001,-

Concessions and industrial rights, goodwill

1.739.454,-

Total tangible fixed assets

32.891.042,-

Land and buildings

11.303.989,-

Plant, machinery and equipment

21.587.053,-

Total financial fixed assets

44.397.660,-

Investments (long-term)

44.397.660,-

Total Current assets

260.211.835,-

Inventories and work in progress (incl. prepayments)

67.692.136,-

Accounts receivable (trade)

53.203.703,-

Receivables from affiliates and companies in which participations are held

123.632.931,-

Cash in hand and at bank

15.683.065,-

Total equity, provisions, liabilities, accrued expenses and deferred income

345.150.004,-

Total equity (Shareholders' funds)

220.708.607,-

Issued (subscribed) capital

114.887.335,-

Share premium account (capital reserve)

20.557.563,-

Share premium account

20.557.563,-

Statutory reserves

844.783,-

Legal reserves

16.866.004,-

Profit or loss for the previous year

2.505.267,-

Profit or loss for the financial year

65.047.655,-

Total liabilities

124.441.391,-

Total long-term liabilities

14.079.780,-

Long-term Loans, Mortgage debts

13.894.847,-

Long-term liabilities to credit institutions

168.187,-

Long-term payables to affiliated companies and to companies in which participations are held

16.746,-

Total current liabilities

110.361.611,-

Current accounts payable (trade)

3.739.773,-

Current liabilities to credit institutions

57.922.097,-

Current payables to affiliated companies and to companies in which participations are held

25.189.358,-

Income and social tax liabilities

23.510.383,-

Total operating income/revenue

507.377.111,-

Main revenue (sales/turnover)

499.373.983,-

Total operating expenses

443.606.459,-

Operating profit or loss

63.770.650,-

Financial income

22.085.230,-

Financial expenses

1.963.733,-

Result of ordinary operations

83.892.149,-

Pre-tax and pre-appropriation profit or loss

83.892.149,-

Taxes

18.844.494,-

Net profit or loss

65.047.655,-

Borrowing ratio

63,43 %

Current ratio

234,36 %

Debt gearing

6,91 %

Profit margin.

17,19 %

Quick ratio

179,07 %

Return on assets

26,15 %

Return on equity.

41,16 %

Solidity or equity ratio

59,71 %

Change in turnover %

22,-

Turnover per person:

412.365,-

Trading profit %

13,-

Return on investment %

23,-

Return on capital %

18,-

Quick ratio

2,-

Current ratio

2,-

Equity ratio

60,-

Working capital %

14,-

Inventories/turnover %

14,-

Accounts receivable turnover in days

29,-

 

Corporate balance sheet/profit and loss account for the year: 01 January 2004 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

609.469.524,-

Total fixed assets

82.425.702,-

Total intangible fixed assets

4.488.115,-

Concessions and industrial rights, goodwill

110.355,-

Total tangible fixed assets

33.409.389,-

Land and buildings

11.703.837,-

Plant, machinery and equipment

21.705.552,-

Total financial fixed assets

44.417.843,-

Investments (long-term)

44.417.843,-

Total Current assets

527.043.813,-

Inventories and work in progress (incl. prepayments)

50.273.363,-

Accounts receivable (trade)

45.907.199,-

Receivables from affiliates and companies in which participations are held

425.022.481,-

Cash in hand and at bank

5.840.770,-

Total equity, provisions, liabilities, accrued expenses and deferred income

609.469.524,-

Total equity (Shareholders' funds)

514.978.082,-

Issued (subscribed) capital

114.887.335,-

Share premium account (capital reserve)

20.557.563,-

Share premium account

20.557.563,-

Statutory reserves

844.783,-

Legal reserves

16.183.134,-

Profit or loss for the previous year

327.342.856,-

Profit or loss for the financial year

35.162.411,-

Total liabilities

94.491.434,-

Total long-term liabilities

15.446.769,-

Long-term Loans, Mortgage debts

15.093.648,-

Long-term liabilities to credit institutions

336.375,-

Long-term payables to affiliated companies and to companies in which participations are held

16.746,-

Total current liabilities

79.044.665,-

Current accounts payable (trade)

6.455.849,-

Current liabilities to credit institutions

29.887.988,-

Current payables to affiliated companies and to companies in which participations are held

21.174.351,-

Income and social tax liabilities

21.526.477,-

Total operating income/revenue

417.441.880,-

Main revenue (sales/turnover)

409.721.342,-

Total operating expenses

380.108.201,-

Operating profit or loss

37.333.677,-

Financial income

12.887.293,-

Financial expenses

2.657.031,-

Result of ordinary operations

47.563.941,-

Pre-tax and pre-appropriation profit or loss

47.563.941,-

Appropriations

6.015,-

Taxes

12.407.545,-

Net profit or loss

35.162.411,-

Borrowing ratio

19,12 %

Current ratio

664,97 %

Debt gearing

3,1 %

Profit margin.

12,26 %

Quick ratio

654,86 %

Return on assets

8,46 %

Return on equity.

9,54 %

Solidity or equity ratio

82,72 %

Change in turnover %

40,-

Turnover per person:

351.994,-

Trading profit %

9,-

Return on investment %

10,-

Return on capital %

9,-

Quick ratio

7,-

Current ratio

7,-

Equity ratio

83,-

Working capital %

12,-

Inventories/turnover %

12,-

Accounts receivable turnover in days

29,-

 

Turnover for the period: 01 January 2006 - 31 December 2006  in  EUR 563.097.555,00

 Not consolidated profit and loss turnover of the business: 

 

Turnover for the period: 01 January 2005 - 31 December 2005  in  EUR 499.373.983,00

 Not consolidated profit and loss turnover of the business: 

 

Turnover for the period: 01 January 2004 - 31 December 2004  in  EUR 409.721.342,00

 Not consolidated profit and loss turnover of the business: 

 

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.

 

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

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions