MIRA
INFORM REPORT
|
Report Date : |
29th
December, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
STORA ENSO OYJ |
|
|
|
|
Registered Office : |
Kanavaranta
100160 Helsinki, Pl 309, 00101 Helsinki |
|
|
|
|
Country : |
Finland |
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|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
01.05.1996 |
|
|
|
|
Legal Form : |
Public Limited Company |
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|
|
Line of Business : |
Manufacturer of paper and paperboard |
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 : |
15.000.000 EUR |
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|
|
|
Status : |
Good |
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|
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|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
Company Name & Address
Stora Enso Oyj
Kanavaranta 1
00160 Helsinki
Pl 309, 00101 Helsinki
Telephone: +358 02046131
Telefax: +358 0204621471
Trade register number
676550
Registered
01.05.1996
Business ID
10390508
Business started
01.05.1996
Turnover
In 2005, the turnover amounted to 2.757.000 thousand EUR, the length of the accounting period was 12 months, and the period ended on 31.12.2005.
Number of employees
In 2005, the number of employees amounted to 6.205.
Line of business
The company´s investigated line of business
on 26.09.2006 is: manufacture of paper and paperboard (21120).
Maximum credit recommendation
15.000.000
EUR
Basics
Company
form
Public
limited company
Type
of ownership
Private
Finnish
Share
capital
Paid
share capital: 1.342.215.448 EUR
Activity
In 2005, the turnover amounted to 2.757.000
thousand EUR, the length of the accounting period was 12 months, and the period ended on 31.12.2005.
In
2005, the number of employees amounted to 6.205.
The company´s branches are Eno, Enonkoski,
Hamina, Hankasalmi, Haukivuori, Heinävesi, Hirvensalmi, Hämeenlinna, Heinola,
Ii, Iisalmi, Ilomantsi, Imatra, Joensuu, Joroinen, Joutsa, Juankoski, Juuka,
Juva, Jyväskylän Mlk, Kaavi, Kajaani, Kangasniemi, Kannonkoski, Karjaa,
Karttula, Kemi, Keminmaa, Kerimäki, Kesälahti, Kitee, Kittilä, Kiuruvesi,
Kontiolahti, Kouvola, Kuhmo, Kuopio, Kuusamo, Outokumpu, Kemijärvi, Lapinlahti,
Lappeenranta, Laukaa, Leppävirta, Lieksa, Liperi, Loviisa, Luumäki, Maaninka,
Miehikkälä, Mikkeli, Mäntsälä, Mäntyharju, Nilsiä, Nivala, Nurmes, Orimattila,
Oulainen, Oulu, Padasjoki, Parikkala, Pieksämäki, Pielavesi, Pihtipudas,
Polvijärvi, Posio, Pudasjärvi, Pulkkila, Puolanka, Puumala, Pyhäselkä, Porvoo,
Rantasalmi, Ranua, Rautavaara, Rovaniemi, Ruokolahti, Rääkkylä, Ruukki, Salla,
Salo, Savitaipale, Savonlinna, Siilinjärvi, Anjalankoski, Sodankylä, Sulkava,
Suomussalmi, Suonenjoki, Vaala, Tervola, Tohmajärvi, Tuusniemi, Tuusula,
Utajärvi, Varkaus, Vesanto, Vieremä, Vihti, Ylitornio.
The company´s investigated line of business on 26.09.2006 is: manufacture of paper and paperboard.
The company´s secondary lines of business are timber harvesting, manufacture of pulp, combined heat and power production for industry, sale and intermediation of electricity, wholesale of roundwood.
The company is engaged in export and import.
The company works both in owned and rented premises.
The company has been VAT liable for business activity since 01.05.1996.
The company has been VAT liable for the transfer of rights to use immovable property since 01.05.1996.
The company has been in the Prepayment register since 01.05.1996. Validity to be checked on 28.02.2007.
The company has been in the Employer Register since 01.05.1996.
According to an account of 26.09.2006, the company´s banker/financier is Nordea Bank Finland Plc -Helsinki-suurasiakaskonttori.
Payments
The company has no registered payment
defaults. There are both positive
remarks and a negative remark concerning the company´s
payments.
Persons in charge
Managing director
Härmälä Jukka Sakari, from 01.05.1996 on
151046-471T, London
Participation in 4 companies on the basis of the identity number, the companies have no payment
defaults.
Substitute managing director
Ryöppönen Hannu
Ragnvald, from 14.09.2005 on
250352-015E, Rutland
Participation in 2 companies on the basis of the identity number, the companies have no payment
defaults.
Chairman
Dahlbäck Claes
Åke Gustav, Swedish citizen, from 23.12.1998 on
060647, Stockholm
Ordinary member
Brock Lars Gunnar Bertelson, Swedish citizen, from 31.03.2005 on
120450, Stockholm
Ordinary member
Chaden Lee Alan, American citizen, from 05.04.2004 on
070442, Chicago, IL
Ordinary member
Härmälä Jukka Sakari, from 23.12.1998 on
151046-471T, London
Participation in 4 companies on the basis of the identity number, the companies have no payment
defaults.
Ordinary member
Hériard Dubreuil Geneviéve Marie Dominique, French citizen, from 31.03.2006 on
060746, Neuilly-sur-Seine
Ordinary member
Kantola Katarina Birgitta, from 31.03.2005 on
270248-106U, Helsinki
Participation in 4 companies on the basis of the identity number, the companies have no payment
defaults.
Ordinary member
Niemi Ilkka Juhani, from 09.04.2001 on
140646-1098, Helsinki
Participation in 3 companies on the basis of the identity number, the companies have no payment
defaults.
Ordinary member
Sjöqvist Jan Gustav, Swedish citizen, from 23.12.1998 on
181148, Stockholm
Ordinary member
Vuoria Matti Pekka Ilmari, from 31.03.2005 on
140351-165X, Helsinki
Participation in 6 companies on the basis of the identity number, the companies have no payment
defaults.
Ordinary member
Wallenberg Marcus, Swedish citizen, from 23.12.1998 on
020956, Stockholm
Authorised signatures
According to the statutes, the chairman of
the Board and the managing director or the vice managing director sign for the firm separately, or
two (2) members of the Board,
jointly.
The procuration holders sign for the firm two jointly.
Shareholders
According to information received from the
company on 31.08.2006, shareholders are:
Suomen Valtio, with 25,0% of the shares
Knut och Alice Wallenbergs Stiftelse, with 24,4% of the shares
Kansaneläkelaitos, with 10,1% of the shares
Keskinäinen työeläkevakuutusyhtiö Varma, VAT No. 05332979, with 5,0% of the shares
Marianna och Markus Wallenbergs Stiftelse, with 2,0% of the shares
Keskinäinen Eläkevakuutusyhtiö Ilmarinen, VAT No. 01076381, with 1,6% of the shares
MP-Bolagen i Vetlanda Ab, with 1,4% of the shares
Vakuutusyhtiö Henki-Sampo, with 1,4% of the shares
Erik Johan Ljungbergs Utbildningsfond, with 0,9% of the shares
Bergslagets Sjuk- och Hälsovårdskassa, with 0,3% of the shares
Keskinäinen Vakuutusyhtiö Kaleva, VAT No. 02006289, with 0,3% of the shares
Lamar Mary (ADR), with 0,2% of the shares
Valtion Eläkerahasto, with 0,2% of the shares
Business mortgages
The company has no registered business mortgages.
Group structure
The company is parent company in the group Stora Enso -konserni.
Financial statement analysis
The financial statement analysis is based on the financial statement data of Stora Enso Oyj in the accounting period as at 31.12.2005. The analysis also utilizes the data of the accounting periods 2001-2004.
The company is the parent company of the group Stora Enso -konserni. The group turnover is 13,188 mill EUR, result -130 mill EUR, balance sheet total 18,095 mill EUR, return on investment 1.3 %, and equity ratio 42.8.
The auditor has approved the financial statement without remarks.
Industry comparison
The comparison includes 38 companies in the industry class 21120 Manufacture of paper and paperboard. The risk of bankruptcy in the line is 1.4 %, and the risk of payment defaults 4.2 %. The risk of payment defaults is clearly lower than average.
Volume
The turnover of Stora Enso Oyj is very large (2,757 mill EUR) in relation to all active companies. However, the company´s turnover in relation to the balance sheet total is so small that part of the ratios and comparisons are left out of the examination. In the latest accounting period, the company employed 6,205 persons on average.
Profitability
Ratios proportioned to the turnover are not interpreted, because the company´s turnover is small, proportioned to the balance sheet. The central ratio for profitability, return on investment, is passable (0.8 %). This is lower than the average in the line (median 4.7 %). In the long term, the development of profitability has been dangerously poor.
If, instead of the return on investment, the return on assets is calculated, taking also into account interest-free loans, the return ratio is 0.7 %. The return is passable, in relation to the line of business (3. 0%).
Liquidity
The liquidity is satisfactory, measured by quick ratio (0.7), which is lower than the average in the line (median 0.9).
Solvency
The solvency of Stora Enso Oyj is very good, measured by equity ratio (58.8 %). The median in the line is 41.3%, so the company is more solvent than is usual in its line. The company´s net gearing is 0.7, which can be considered good.
Summary and remarks
The company belongs to the group Stora Enso -konserni. The return on investment of the group is passable and the equity ratio good.
Because of its solvency, the company has the qualifications to also bring the profitability to at least a satisfactory level in order to secure the preconditions for activities in the long term.
During the accounting period, the following has/have been merged with the company: Kemijärven Sellu Oy, 647223, 30.09.2005.
After the closing of the accounting period, the following companies have been merged with the company under analysis, the effects of which on the financial statement analysis have to be considered separately. Kiinteistö Oy Enson Metsuritalot, 247335, 30.11.2006. Lumi Shipping Oy, 496232, 30. 11.2006, .
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 01.01.2005 - 31.12.2005:
KHT Suomela Eero, PricewaterhouseCoopers Oy
The auditor has approved the financial statement without remarks.
Number of enquiries
113 enquiries have been made on the company during the past 6 months, of which 20 during the past 30 days.
Company´s
payments
|
Period |
Code |
From
due date |
Delayed,
total |
|
Number
of observations |
|
|
|||||
|
11/2006 |
ML |
|
|
|
1 |
|
|
|||||
|
10/2006 |
ML |
|
|
|
1 |
|
|
|||||
|
09/2006 |
ML |
|
|
|
1 |
|
|
|||||
|
08/2006 |
ML |
|
|
|
1 |
|
|
|||||
|
07/2006 |
ML |
|
|
|
1 |
|
|
|||||
|
06/2006 |
ML |
|
|
|
1 |
|
|
|||||
|
05/2006 |
ML |
|
|
|
1 |
|
|
|||||
|
|
M3 |
31-60 |
1,9-3,5 |
t EUR |
1 |
|
|
|||||
|
04/2006 |
ML |
|
|
|
1 |
|
|
|||||
|
03/2006 |
ML |
|
|
|
1 |
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|
|||||
|
02/2006 |
ML |
|
|
|
1 |
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|
|||||
|
01/2006 |
ML |
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|
|
1 |
|
|
|||||
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|
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Summary of the profit and loss
account (t EUR)
|
|
31.12.2005 12 months |
31.12.2004 12 months |
31.12.2003 12 months |
|
Turnover
|
2.757.000,0 |
3.151.100,0 |
3.021.800,0 |
|
Other
operating income |
178.700,0 |
153.800,0 |
123.100,0 |
|
Raw
materials and services |
-1.906.400,0 |
-2.060.600,0 |
-1.931.200,0 |
|
Gross
result |
1.029.300,0 |
1.244.300,0 |
1.213.700,0 |
|
Other
operating expenses |
-815.500,0 |
-869.800,0 |
-850.800,0 |
|
Depreciation
|
-263.000,0 |
-247.300,0 |
-227.000,0 |
|
Operating
result |
-49.200,0 |
127.200,0 |
135.900,0 |
|
Financing
income |
167.400,0 |
203.400,0 |
2.022.000,0 |
|
Financing
expenses |
-407.600,0 |
-204.000,0 |
-183.300,0 |
|
Result
before extraordinary items |
-289.400,0 |
126.600,0 |
1.974.600,0 |
|
Extraordinary
items |
24.600,0 |
53.000,0 |
91.300,0 |
|
Result
before appropriations and taxes |
-264.800,0 |
179.600,0 |
2.065.900,0 |
|
Appropriations
|
24.400,0 |
-14.400,0 |
-33.500,0 |
|
Direct
taxes |
700,0 |
-44.100,0 |
-50.700,0 |
|
|
|
|
|
|
Result
for the financial year |
-239.700,0 |
121.100,0 |
1.981.700,0 |
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
|
3.100.200,0 |
2.435.500,0 |
1.904.049,6 |
|
Other
operating income |
262.200,0 |
105.400,0 |
126.710,3 |
|
Raw
materials and services |
-1.919.600,0 |
-1.611.800,0 |
-1.383.481,4 |
|
Gross
result |
1.442.800,0 |
929.100,0 |
647.278,5 |
|
Other
operating expenses |
-875.000,0 |
-617.400,0 |
-454.090,6 |
|
Depreciation
|
-222.300,0 |
-153.100,0 |
-83.642,2 |
|
Operating
result |
345.500,0 |
158.600,0 |
109.545,7 |
|
Financing
income |
1.348.500,0 |
2.129.000,0 |
816.206,6 |
|
Financing
expenses |
-1.265.500,0 |
-351.700,0 |
-341.086,6 |
|
Result
before extraordinary items |
428.500,0 |
1.935.900,0 |
584.665,6 |
|
Extraordinary
items |
176.500,0 |
509.800,0 |
658.124,1 |
|
Result
before appropriations and taxes |
605.000,0 |
2.445.700,0 |
1.242.789,5 |
|
Appropriations
|
-53.000,0 |
-72.800,0 |
-36.872,0 |
|
Direct
taxes |
2.400,0 |
-164.600,0 |
-186.317,1 |
|
|
|
|
|
|
Result
for the financial year |
554.400,0 |
2.208.300,0 |
1.019.600,5 |
Profit and loss account (t EUR)
|
|
31.12.2005 12 months |
|
PROFIT
AND LOSS ACCOUNT
|
|
|
TURNOVER |
2.757.000,0 |
|
Change
in finished goods and work-in-progress inv |
38.900,0 |
|
Production
for own use |
1.600,0 |
|
Other
operating income |
138.200,0 |
|
Materials
and services
|
|
|
Materials,
supplies and goods |
|
|
Purchases
during the fiscal period |
-1.544.100,0 |
|
Change
in raw material inventories |
78.800,0 |
|
Outsourced
services |
-441.100,0 |
|
Personnel
expenses
|
|
|
Salaries
and wages |
-212.000,0 |
|
Social
security expenses |
|
|
Pension
expenses |
-49.100,0 |
|
Other
social security expenses |
-20.800,0 |
|
Depreciation
and reductions in value |
|
|
Depreciation
according to plan |
-263.000,0 |
|
Other
operating expenses |
-533.600,0 |
|
OPERATING
RESULT |
-49.200,0 |
|
Financial
income and expenses |
|
|
Income
on investments in group companies |
93.100,0 |
|
Income
on investments in associated companies |
7.600,0 |
|
Income
on investments in other fixed assets |
4.300,0 |
|
Other
interest and financial income |
62.400,0 |
|
Interest
and other financial expenses |
-407.600,0 |
|
RESULT
BEFORE EXTRAORDINARY ITEMS |
-289.400,0 |
|
Extraordinary
items |
|
|
Extraordinary
income |
24.600,0 |
|
RESULT
BEFORE CLOSING ENTRIES AND TAXES |
-264.800,0 |
|
Closing
entries
|
|
|
Change
in depreciation difference |
24.400,0 |
|
Income
taxes |
700,0 |
|
|
|
|
RESULT
FOR THE FISCAL PERIOD |
-239.700,0 |
Summary of the balance sheet (t
EUR)
|
|
31.12.2005 12 months |
31.12.2004 12 months |
31.12.2003 12 months |
|
Intangible
assets |
113.800,0 |
118.400,0 |
128.800,0 |
|
Tangible
assets |
1.848.300,0 |
1.959.700,0 |
2.058.800,0 |
|
Investments
|
13.420.600,0 |
13.420.000,0 |
12.474.700,0 |
|
Stocks
|
442.000,0 |
316.700,0 |
318.600,0 |
|
Current
financial assets |
2.472.500,0 |
1.939.500,0 |
3.805.500,0 |
|
Subscribed
capital |
1.382.100,0 |
1.423.300,0 |
1.469.300,0 |
|
Reserves
|
4.536.000,0 |
4.941.200,0 |
5.243.800,0 |
|
Retained
earnings |
4.115.700,0 |
4.439.100,0 |
2.756.200,0 |
|
Result
for the financial year |
-239.700,0 |
121.100,0 |
1.981.700,0 |
|
Subordinated
loans |
|
|
|
|
Accumulated
appropriations |
961.600,0 |
960.700,0 |
946.300,0 |
|
Provisions
|
19.000,0 |
8.100,0 |
9.200,0 |
|
Long-term
debts |
3.847.600,0 |
2.989.400,0 |
2.869.400,0 |
|
Current
liabilities |
3.674.900,0 |
2.871.400,0 |
3.510.500,0 |
|
|
|
|
|
|
Balance
sheet total |
18.297.200,0 |
17.754.300,0 |
18.786.400,0 |
Summary of the balance sheet (t
EUR)
|
|
31.12.2002 12 months |
31.12.2001 12 months |
31.12.2000 12 months |
|
Intangible
assets |
136.600,0 |
132.500,0 |
28.660,1 |
|
Tangible
assets |
1.974.800,0 |
2.668.200,0 |
1.452.184,0 |
|
Investments
|
10.085.600,0 |
9.736.400,0 |
11.179.923,2 |
|
Stocks
|
322.000,0 |
309.100,0 |
140.944,3 |
|
Current
financial assets |
3.410.100,0 |
5.274.200,0 |
2.676.871,1 |
|
Subscribed
capital |
1.529.600,0 |
1.541.500,0 |
1.576.279,6 |
|
Reserves
|
5.614.000,0 |
5.693.800,0 |
5.919.847,2 |
|
Retained
earnings |
2.532.700,0 |
947.400,0 |
287.050,0 |
|
Result
for the financial year |
554.400,0 |
2.208.300,0 |
1.019.600,5 |
|
Subordinated
loans |
|
|
|
|
Accumulated
appropriations |
912.200,0 |
859.200,0 |
202.685,1 |
|
Provisions
|
10.400,0 |
9.900,0 |
6.770,2 |
|
Long-term
debts |
3.167.900,0 |
3.705.100,0 |
3.666.470,9 |
|
Current
liabilities |
1.607.900,0 |
3.155.200,0 |
2.799.879,2 |
|
|
|
|
|
|
Balance
sheet total |
15.929.100,0 |
18.120.400,0 |
15.478.582,6 |
Balance sheet (t EUR)
|
|
31.12.2005 12 months |
|
BALANCE
SHEET |
|
|
ASSETS |
|
|
FIXED
AND OTHER NON-CURRENT ASSETS |
|
|
Intangible
assets |
|
|
Other
capitalised expenses |
113.800,0 |
|
Tangible
assets |
|
|
Land
and water areas |
35.200,0 |
|
Buildings
and constructions |
402.200,0 |
|
Machinery
and equipment |
1.301.800,0 |
|
Other
tangible assets |
109.100,0 |
|
Investments |
|
|
Shares/Similar
rights of ownership in group compa |
12.560.600,0 |
|
Receivables
from group companies |
597.000,0 |
|
Shares/Similar
rights of ownership in associated |
52.800,0 |
|
Shares/Similar
rights of ownership in other compa |
210.100,0 |
|
Other
receivables |
100,0 |
|
CURRENT
ASSETS |
|
|
Inventories
and work-in-progress |
|
|
Materials
and supplies |
204.400,0 |
|
Work-in-progress
|
11.100,0 |
|
Finished
goods |
215.600,0 |
|
Other
inventories |
10.900,0 |
|
Receivables |
|
|
Long
term receivables
|
|
|
Short
term receivables
|
|
|
Trade
receivables |
211.700,0 |
|
Receivables
from group companies |
1.839.400,0 |
|
Receivables
from associated companies |
5.500,0 |
|
Loan
receivables |
100,0 |
|
Other
receivables |
269.500,0 |
|
Prepaid
expenses and accrued income |
28.700,0 |
|
Financial
assets |
|
|
Cash
in hand and at banks |
117.600,0 |
|
|
|
|
BALANCE
SHEET TOTAL
|
18.297.200,0 |
|
|
|
|
SHAREHOLDERS´
EQUITY AND LIABILITIES |
|
|
SHAREHOLDERS´
EQUITY |
|
|
Share
capital, subscribed capital of a co-operati |
1.382.100,0 |
|
Share
premium |
4.182.100,0 |
|
Other
reserves
|
|
|
Contingency
reserve |
353.900,0 |
|
Retained
earnings (losses) |
4.115.700,0 |
|
Result
for the fiscal period |
-239.700,0 |
|
ACCUMULATED
CLOSING ENTRIES
|
|
|
Depreciation
difference |
961.600,0 |
|
COMPULSORY
PROVISIONS
|
|
|
Other
compulsory provisions |
19.000,0 |
|
LIABILITIES |
|
|
Long
term liabilities
|
|
|
Bonds
and notes |
2.952.400,0 |
|
Loans
from financial institutions |
764.900,0 |
|
Loans
from and other liabilities to group compani |
125.200,0 |
|
Other
loans and liabilities |
5.100,0 |
|
Short
term liabilities
|
|
|
Loans
from financial institutions |
368.600,0 |
|
Advances
received |
1.100,0 |
|
Trade
payables |
72.400,0 |
|
Loans
from and other liabilities to group compani |
1.936.600,0 |
|
Loans
from and other liabilities to associated co |
700,0 |
|
Other
loans and liabilities |
1.158.500,0 |
|
Deferred
income and accrued expenses |
137.000,0 |
|
|
|
|
BALANCE
SHEET TOTAL
|
18.297.200,0 |
Information about the audit
Accounting
period 31.12.2005
The
auditor has approved the financial statement without remarks.
Auditors
Name
Suomela Eero KHT PricewaterhouseCoopers Oy
Company´s ratios
|
Accounting
period |
31.12.2005 |
31.12.2004 |
31.12.2003 |
31.12.2002 |
31.12.2001 |
|
Volume |
|
|
|
|
|
|
Turnover
EUR 1000 |
2.757.000,0 |
3.151.100,0 |
3.021.800,0 |
3.100.200,0 |
2.435.500,0 |
|
Change
in turnover in % |
-12,5 |
4,3 |
-2,5 |
27,3 |
27,9 |
|
Turnover/person
EUR 1000 |
444,3 |
498,7 |
472,5 |
484,8 |
|
|
Profitability |
|
|
|
|
|
|
Operating
margin in % |
7,4 |
11,4 |
11,5 |
17,0 |
12,2 |
|
Operating
income in % |
-1,7 |
3,9 |
4,3 |
10,3 |
6,2 |
|
Return
on investment in % |
0,8 |
2,0 |
14,1 |
4,4 |
16,2 |
|
Return
on total assets in % |
0,7 |
1,7 |
12,6 |
3,9 |
13,6 |
|
Liquidity |
|
|
|
|
|
|
Quick
ratio |
0,7 |
0,7 |
1,1 |
2,1 |
1,2 |
|
Current
ratio |
0,8 |
0,8 |
1,2 |
2,3 |
1,3 |
|
Solvency |
|
|
|
|
|
|
Equity
ratio in % |
58,8 |
67,0 |
66,0 |
70,0 |
62,1 |
|
Net
gearing |
0,7 |
0,4 |
0,5 |
0,4 |
0,6 |
|
Relative
indebtedness in % |
273,5 |
186,2 |
210,9 |
154,3 |
282,0 |
|
Working
capital |
|
|
|
|
|
|
Working
capital ratio in % |
21,0 |
14,5 |
15,3 |
16,4 |
19,5 |
|
Inventories/turnover
in % |
16,0 |
10,1 |
10,5 |
10,4 |
12,7 |
|
Sales
receivable turnover in days |
28 |
32 |
32 |
37 |
47 |
|
Accounts
payable turnover in days |
13 |
24 |
20 |
24 |
33 |
Ratios of the line of business
Line of business 21120 Manufacture of paper and paperboard (71 kpl)
|
Year |
2005 |
2004 |
2003 |
2002 |
2001 |
|
Companies
in the line |
38 |
45 |
40 |
39 |
35 |
|
Volume |
|
|
|
|
|
|
Turnover
EUR 1000 |
39.830,0 |
32.400,0 |
54.342,8 |
55.117,9 |
60.174,2 |
|
Change
in turnover in % |
-9,2 |
2,5 |
-1,8 |
3,5 |
-0,7 |
|
Turnover/person
EUR 1000 |
221,6 |
224,0 |
206,3 |
228,0 |
234,4 |
|
Profitability |
|
|
|
|
|
|
Operating
margin in % |
8,6 |
9,6 |
11,5 |
13,3 |
12,2 |
|
Operating
income in % |
1,2 |
3,9 |
4,8 |
8,0 |
5,9 |
|
Return
on investment in % |
4,7 |
9,9 |
7,3 |
12,5 |
14,3 |
|
Return
on total assets in % |
3,0 |
5,8 |
6,1 |
9,4 |
9,9 |
|
Liquidity |
|
|
|
|
|
|
Quick
ratio |
0,9 |
1,0 |
0,8 |
0,7 |
0,8 |
|
Current
ratio |
1,3 |
1,2 |
1,2 |
1,2 |
1,2 |
|
Solvency |
|
|
|
|
|
|
Equity
ratio in % |
41,3 |
46,5 |
44,3 |
43,0 |
42,0 |
|
Relative
indebtedness in % |
56,2 |
45,7 |
43,3 |
47,4 |
45,4 |
|
Working
capital |
|
|
|
|
|
|
Working
capital ratio in % |
10,2 |
10,6 |
12,7 |
11,2 |
9,8 |
|
Inventories/turnover
in % |
8,8 |
8,1 |
8,5 |
8,6 |
8,7 |
|
Sales
receivable turnover in days |
34 |
33 |
28 |
37 |
32 |
|
Accounts
payable turnover in days |
45 |
38 |
31 |
33 |
33 |
|
|
|
|
|
||
|
|
Line of business |
All companies |
|||
|
Payment
default risk |
4,2% |
9,4% |
|||
|
Bankruptcy
risk |
1,4% |
1,0% |
|||
|
|
|||||
Text concerning the authorised
signatures
According to the statutes, the chairman of the Board and the managing director or the vice managing director sign for the firm separately, or two (2) members of the Board, jointly.
Authorised signatures
|
Name |
|
Nationality |
Resigned |
|
Almryd
Hans Lars-Gunnar, Bromma |
Authorised
signatory |
SE |
|
|
170665 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Björling
Lennart, Falun |
Authorised
signatory |
SE |
|
|
170654 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Dingertz Per Johan Wilhelm, Lidingö |
Authorised
signatory |
SE |
|
|
150455 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Feldreich
Karl Johan, Falun |
Authorised
signatory |
SE |
|
|
170352 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Haberland Walter Hans Rudolf, Hagen |
Authorised
signatory |
DE |
|
|
240846 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Huttunen
Antti-Jussi, Sevenoaks |
Authorised
signatory |
FI |
|
|
290154 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Håkansson
Ulla Carina, Mora |
Authorised
signatory |
SE |
|
|
030861 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Kallio
Jouni Antero, Esher |
Authorised
signatory |
FI |
|
|
220762 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Kasurinen
Hannu Antero, Espoo |
Authorised
signatory |
FI |
|
|
140563 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Korhonen
Kai Antero, Helsinki |
Authorised
signatory |
FI |
|
|
281251 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Kurkinen
Jyrki Uolevi, Espoo |
Authorised
signatory |
FI |
|
|
200648 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Laaksonen Pekka Jaakko Tapani, Helsinki |
Authorised
signatory |
FI |
|
|
120456 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Laalo
Jarmo Uolevi, Janakkala |
Authorised
signatory |
FI |
|
|
241046 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Nizovsky
Riitta Liisa Helena, Helsinki |
Authorised
signatory |
FI |
|
|
270849 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Nordquist
Peter Olof Tomas, Chelsea, London |
Authorised
signatory |
SE |
|
|
130861 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Paajanen-Sainio
Ulla Annikki, Espoo |
Authorised
signatory |
FI |
|
|
060862 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Rauramo Markus Heikki Erdem, Helsinki |
Authorised
signatory |
FI |
|
|
230668 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Rettig
Bernd Franz Georg, Hagen |
Authorised
signatory |
DE |
|
|
051056 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Ryöppönen
Hannu Ragnvald, Rutland |
Authorised
signatory |
FI |
|
|
250352 |
The
authorised persons sign for the firm separately. |
||
|
Sallander
Björklund Anna Elisabe, Falun |
Authorised
signatory |
SE |
|
|
170858 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Siira
Kirsi Maria, Helsinki |
Authorised
signatory |
FI |
|
|
160465 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Strandberg
Erik Lars-Göran, Falun |
Authorised
signatory |
SE |
|
|
021253 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Suvanto
Jari Olavi, Espoo |
Authorised
signatory |
FI |
|
|
210173 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Tammivuori
Jyrki Ilari, Espoo |
Authorised
signatory |
FI |
|
|
020471 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Valkeinen
Matti-Ilari, Kemi |
Authorised
signatory |
FI |
|
|
240564 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Wehlmann
Wolf Ulrich, Essen |
Authorised
signatory |
DE |
|
|
101061 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Ågren
Kjell Christer, Tukholma |
Authorised
signatory |
SE |
|
|
161254 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Aho
Yrjö Antti, Joutseno |
Holder
of procuration |
FI |
|
|
030359 |
The
procuration holders sign for the firm two jointly. |
||
|
Ahokas
Pasi Pekka, Joutseno |
Holder
of procuration |
FI |
|
|
300862 |
The
procuration holders sign for the firm two jointly. |
||
|
Alalauri
Hannu Eerik, Helsinki |
Holder
of procuration |
FI |
|
|
120559 |
The
procuration holders sign for the firm two jointly. |
||
|
Ansaharju
Aulis Mikael, Janakkala |
Holder
of procuration |
FI |
|
|
090451 |
The
procuration holders sign for the firm two jointly. |
||
|
Antti
Sampo Edward, Oulu |
Holder
of procuration |
FI |
|
|
220861 |
The
procuration holders sign for the firm two jointly. |
||
|
Anttila Kari Pertti Juhani, Helsinki |
Holder
of procuration |
FI |
|
|
171161 |
The
procuration holders sign for the firm two jointly. |
||
|
Asmundi
Anne Maria, Lappeenranta |
Holder
of procuration |
FI |
|
|
130765 |
The
procuration holders sign for the firm two jointly. |
||
|
Auvinen
Pekka Ari, Kemijärvi |
Holder
of procuration |
FI |
|
|
270663 |
The
procuration holders sign for the firm two jointly. |
||
|
Bergqvist
Leena Anneli, Helsinki |
Holder
of procuration |
FI |
|
|
120758 |
The
procuration holders sign for the firm two jointly. |
||
|
Ekola
Sauli Antero, Joroinen |
Holder
of procuration |
FI |
|
|
261052 |
The
procuration holders sign for the firm two jointly. |
||
|
Eloranta
Sakari Samuel, Imatra |
Holder
of procuration |
FI |
|
|
011259 |
The
procuration holders sign for the firm two jointly. |
||
|
Eriksson
Bo Sören, Falun |
Holder
of procuration |
SE |
|
|
130550 |
The
procuration holders sign for the firm two jointly. |
||
|
Hatva
Timo Sakari, Kotka |
Holder
of procuration |
FI |
|
|
020267 |
The
procuration holders sign for the firm two jointly. |
||
|
Heiko
Jukka Jaakko, Oulu |
Holder
of procuration |
FI |
|
|
241146 |
The
procuration holders sign for the firm two jointly. |
||
|
Helkala
Juha-Pekka, Imatra |
Holder
of procuration |
FI |
|
|
020157 |
The
procuration holders sign for the firm two jointly. |
||
|
Hellstén
Kauko Olavi, Varkaus |
Holder
of procuration |
FI |
|
|
111252 |
The
procuration holders sign for the firm two jointly. |
||
|
Heusala
Juhani Aukusti, Keminmaa |
Holder
of procuration |
FI |
|
|
150647 |
The
procuration holders sign for the firm two jointly. |
||
|
Hietalahti
Ville Viktor, Porvoo |
Holder
of procuration |
FI |
|
|
070771 |
The
procuration holders sign for the firm two jointly. |
||
|
Hiltunen
Tommi Tapani, Imatra |
Holder
of procuration |
FI |
|
|
020471 |
The
procuration holders sign for the firm two jointly. |
||
|
Honkonen
Eeva Anneli, Porvoo |
Holder
of procuration |
FI |
|
|
160449 |
The
procuration holders sign for the firm two jointly. |
||
|
Huhta
Pentti Tapani, Kotka |
Holder
of procuration |
FI |
|
|
110447 |
The
procuration holders sign for the firm two jointly. |
||
|
Huostila
Sanna-Mari, Kotka |
Holder
of procuration |
FI |
|
|
140267 |
The
procuration holders sign for the firm two jointly. |
||
|
Hämäläinen
Esa Pekka, Joensuu |
Holder
of procuration |
FI |
|
|
110663 |
The
procuration holders sign for the firm two jointly. |
||
|
Hölttä
Kari Heikki, Kotka |
Holder
of procuration |
FI |
|
|
020656 |
The
procuration holders sign for the firm two jointly. |
||
|
Ignatius
Jorma Kaarlo Olavi, Imatra |
Holder
of procuration |
FI |
|
|
121145 |
The
procuration holders sign for the firm two jointly. |
||
|
Ilmasti
Pentti Kalevi, Oulu |
Holder
of procuration |
FI |
|
|
170262 |
The
procuration holders sign for the firm two jointly. |
||
|
Jalonen
Pekka Tapio, Espoo |
Holder
of procuration |
FI |
|
|
130460 |
The
procuration holders sign for the firm two jointly. |
||
|
Johansson
Ari Kalevi, Imatra |
Holder
of procuration |
FI |
|
|
050760 |
The
procuration holders sign for the firm two jointly. |
||
|
Juvonen
Niina Marita, Ruokolahti |
Holder
of procuration |
FI |
|
|
260272 |
The
procuration holders sign for the firm two jointly. |
||
|
Jäppinen
Liisa Kaarina, Imatra |
Holder
of procuration |
FI |
|
|
310746 |
The
procuration holders sign for the firm two jointly. |
||
|
Jäppinen
Paavo Tapio, Imatra |
Holder
of procuration |
FI |
|
|
211246 |
The
procuration holders sign for the firm two jointly. |
||
|
Järvelä
Rainer Iikka Matias, Kemi |
Holder
of procuration |
FI |
|
|
231245 |
The
procuration holders sign for the firm two jointly. |
||
|
Järveläinen
Hannu Kalevi, Joroinen |
Holder
of procuration |
FI |
|
|
300353 |
The
procuration holders sign for the firm two jointly. |
||
|
Jääskeläinen
Antti Erkki, Espoo |
Holder
of procuration |
FI |
|
|
100872 |
The
procuration holders sign for the firm two jointly. |
||
|
Kangas
Kimmo Johannes, Kemijärvi |
Holder
of procuration |
FI |
|
|
271166 |
The
procuration holders sign for the firm two jointly. |
||
|
Kankkunen
Jukka Tapio, Imatra |
Holder
of procuration |
FI |
|
|
260561 |
The
procuration holders sign for the firm two jointly. |
||
|
Karhapää
Mauri Toivo Tapio, Ilomantsi |
Holder
of procuration |
FI |
|
|
190546 |
The
procuration holders sign for the firm two jointly. |
||
|
Karhunen
Markku Kalevi, Imatra |
Holder
of procuration |
FI |
|
|
290861 |
The
procuration holders sign for the firm two jointly. |
||
|
Karjalainen
Anna-Maija, Lappeenranta |
Holder
of procuration |
FI |
|
|
011162 |
The
procuration holders sign for the firm two jointly. |
||
|
Karjula
Matti Heikki, Porvoo |
Holder
of procuration |
FI |
|
|
011057 |
The
procuration holders sign for the firm two jointly. |
||
|
Kartovaara
Ilkka Kalervo, Kauniainen |
Holder
of procuration |
FI |
|
|
100844 |
The
procuration holders sign for the firm two jointly. |
||
|
Kasurinen
Ilkka Juhani, Taipalsaari |
Holder
of procuration |
FI |
|
|
030864 |
The
procuration holders sign for the firm two jointly. |
||
|
Keltti
Heikki Antero, Oulu |
Holder
of procuration |
FI |
|
|
160849 |
The
procuration holders sign for the firm two jointly. |
||
|
Kiiski
Seppo Antero, Kotka |
Holder
of procuration |
FI |
|
|
060453 |
The
procuration holders sign for the firm two jointly. |
||
|
Kinnunen Karri Jyri-Pekka, Imatra |
Holder
of procuration |
FI |
|
|
150856 |
The
procuration holders sign for the firm two jointly. |
||
|
Kippo
Saara Marjukka, Joutseno |
Holder
of procuration |
FI |
|
|
231260 |
The
procuration holders sign for the firm two jointly. |
||
|
Kiviranta
Juha Erkki, Imatra |
Holder
of procuration |
FI |
|
|
130970 |
The
procuration holders sign for the firm two jointly. |
||
|
Koivuniemi
Timo Antero, Imatra |
Holder
of procuration |
FI |
|
|
060348 |
The
procuration holders sign for the firm two jointly. |
||
|
Koponen
Hilkka-Liisa, Varkaus |
Holder
of procuration |
FI |
|
|
120149 |
The
procuration holders sign for the firm two jointly. |
||
|
Korhonen Kati Anne-Maarit, Helsinki |
Holder
of procuration |
FI |
|
|
181078 |
The
procuration holders sign for the firm two jointly. |
||
|
Kortelainen Veli-Antti Kalevi, Varkaus |
Holder
of procuration |
FI |
|
|
231244 |
The
procuration holders sign for the firm two jointly. |
||
|
Kostet Matti Esa Yrjänä, Helsinki |
Holder
of procuration |
FI |
|
|
190348 |
The
procuration holders sign for the firm two jointly. |
||
|
Kurppa
Harri Olavi, Kotka |
Holder
of procuration |
FI |
|
|
170457 |
The
procuration holders sign for the firm two jointly. |
||
|
Kuuppo
Tuomo Pentti, Osoite tuntematon |
Holder
of procuration |
FI |
|
|
311261 |
The
procuration holders sign for the firm two jointly. |
||
|
Kärkkäinen
Jari Antero, Joroinen |
Holder
of procuration |
FI |
|
|
301158 |
The procuration
holders sign for the firm two jointly. |
||
|
Laakso Heli Piia Marjaana, Heinola |
Holder
of procuration |
FI |
|
|
261273 |
The
procuration holders sign for the firm two jointly. |
||
|
Laitinen
Leena Kyllikki, Joroinen |
Holder
of procuration |
FI |
|
|
061048 |
The
procuration holders sign for the firm two jointly. |
||
|
Lampinen
Ismo Unto Ilari, Anjalankoski |
Holder
of procuration |
FI |
|
|
110955 |
The
procuration holders sign for the firm two jointly. |
||
|
Langenskiöld
Tom Fabian, Sevenoaks |
Holder
of procuration |
FI |
|
|
181066 |
The
procuration holders sign for the firm two jointly. |
||
|
Lappalainen Ismo Veikko Kalevi, Varkaus |
Holder
of procuration |
FI |
|
|
040964 |
The
procuration holders sign for the firm two jointly. |
||
|
Laukkanen
Kimmo Petri Juho, Kemi |
Holder
of procuration |
FI |
|
|
041262 |
The
procuration holders sign for the firm two jointly. |
||
|
Laukkanen
Lauri Jaakko, Joensuu |
Holder
of procuration |
FI |
|
|
310846 |
The
procuration holders sign for the firm two jointly. |
||
|
Lehtola
Jouko Antero, Imatra |
Holder
of procuration |
FI |
|
|
010246 |
The
procuration holders sign for the firm two jointly. |
||
|
Lehtola
Juha Kalervo, Raisio |
Holder
of procuration |
FI |
|
|
280566 |
The
procuration holders sign for the firm two jointly. |
||
|
Leskinen Petteri Erik Johannes, Lappeenranta |
Holder
of procuration |
FI |
|
|
040572 |
The
procuration holders sign for the firm two jointly. |
||
|
Lindell
Nils Henry Johannes, Imatra |
Holder
of procuration |
FI |
|
|
210452 |
The
procuration holders sign for the firm two jointly. |
||
|
Lindholm
Reijo Juhani, Kemi |
Holder
of procuration |
FI |
|
|
200145 |
The
procuration holders sign for the firm two jointly. |
||
|
Luttinen
Aila Marjaana, Oulunsalo |
Holder
of procuration |
FI |
|
|
290557 |
The
procuration holders sign for the firm two jointly. |
||
|
Manskinen
Jukka Pekka, Heinola |
Holder
of procuration |
FI |
|
|
080469 |
The
procuration holders sign for the firm two jointly. |
||
|
Mantere
Mikko Kaarlo, Kemi |
Holder
of procuration |
FI |
|
|
020358 |
The
procuration holders sign for the firm two jointly. |
||
|
Marttila
Arvi Antero, Kotka |
Holder
of procuration |
FI |
|
|
040946 |
The
procuration holders sign for the firm two jointly. |
||
|
Marttila
Jukka Arvo Elias, Helsinki |
Holder
of procuration |
FI |
|
|
060945 |
The
procuration holders sign for the firm two jointly. |
||
|
Mikkilä
Ari Juhani, Imatra |
Holder
of procuration |
FI |
|
|
040658 |
The
procuration holders sign for the firm two jointly. |
||
|
Myllykoski
Hannu Sakari, Kemi |
Holder
of procuration |
FI |
|
|
180749 |
The
procuration holders sign for the firm two jointly. |
||
|
Mäkimattila
Kalle Juha, Hamina |
Holder
of procuration |
FI |
|
|
180164 |
The
procuration holders sign for the firm two jointly. |
||
|
Mänttäri
Jakke Veli, Joutseno |
Holder
of procuration |
FI |
|
|
200756 |
The
procuration holders sign for the firm two jointly. |
||
|
Mänttäri
Liisa Irmeli, Joutseno |
Holder
of procuration |
FI |
|
|
241065 |
The
procuration holders sign for the firm two jointly. |
||
|
Määttänen
Ari-Pekka, Lappeenranta |
Holder
of procuration |
FI |
|
|
250568 |
The
procuration holders sign for the firm two jointly. |
||
|
Nevalainen
Anne Maritta, Kotka |
Holder
of procuration |
FI |
|
|
171055 |
The
procuration holders sign for the firm two jointly. |
||
|
Niemelä
Lassi Olavi, Kotka |
Holder
of procuration |
FI |
|
|
261050 |
The
procuration holders sign for the firm two jointly. |
||
|
Nieminen
Mikko Pekka, Varkaus |
Holder
of procuration |
FI |
|
|
270473 |
The
procuration holders sign for the firm two jointly. |
||
|
Niiniaho
Seppo Tuomo, Helsinki |
Holder
of procuration |
FI |
|
|
130660 |
The
procuration holders sign for the firm two jointly. |
||
|
Nikupeteri
Jaana Maria Hannele, Oulu |
Holder
of procuration |
FI |
|
|
070864 |
The
procuration holders sign for the firm two jointly. |
||
|
Nopanen
Markku Antero, Hamina |
Holder
of procuration |
FI |
|
|
261048 |
The
procuration holders sign for the firm two jointly. |
||
|
Nuottamo
Ohto Mikael, Lappeenranta |
Holder
of procuration |
FI |
|
|
250852 |
The
procuration holders sign for the firm two jointly. |
||
|
Oksanen
Armi Anneli, Helsinki |
Holder
of procuration |
FI |
|
|
040753 |
The
procuration holders sign for the firm two jointly. |
||
|
Paananen
Esko Johannes, Imatra |
Holder
of procuration |
FI |
|
|
151156 |
The
procuration holders sign for the firm two jointly. |
||
|
Pajari
Alpo Sakari, Imatra |
Holder
of procuration |
FI |
|
|
030154 |
The
procuration holders sign for the firm two jointly. |
||
|
Panula
Reino Artturi, Varkaus |
Holder
of procuration |
FI |
|
|
041148 |
The
procuration holders sign for the firm two jointly. |
||
|
Parviainen
Kauko Ensio, Imatra |
Holder
of procuration |
FI |
|
|
260449 |
The
procuration holders sign for the firm two jointly. |
||
|
Pentikäinen
Markku Juha, Helsinki |
Holder
of procuration |
FI |
|
|
081253 |
The
procuration holders sign for the firm two jointly. |
||
|
Penttinen
Kyösti Tapani, Pyhtää |
Holder
of procuration |
FI |
|
|
091247 |
The
procuration holders sign for the firm two jointly. |
||
|
Piiparinen
Pasi Juhani, Imatra |
Holder
of procuration |
FI |
|
|
011161 |
The
procuration holders sign for the firm two jointly. |
||
|
Pitkänen
Sami Sulo Ensio, Espoo |
Holder
of procuration |
FI |
|
|
040248 |
The
procuration holders sign for the firm two jointly. |
||
|
Pokkinen Jorma Timo Uolevi, Tampere |
Holder
of procuration |
FI |
|
|
270148 |
The
procuration holders sign for the firm two jointly. |
||
|
Potka Veli-Jussi Olavi, Helsinki |
Holder
of procuration |
FI |
|
|
190859 |
The
procuration holders sign for the firm two jointly. |
||
|
Pöllänen
Pekka Johannes, Lahti |
Holder
of procuration |
FI |
|
|
031147 |
The
procuration holders sign for the firm two jointly. |
||
|
Pöyhönen Niilo Petter Laurinpoik, Helsinki |
Holder
of procuration |
FI |
|
|
120653 |
The
procuration holders sign for the firm two jointly. |
||
|
Rauhala
Tiina Johanna, Kemi |
Holder
of procuration |
FI |
|
|
210368 |
The
procuration holders sign for the firm two jointly. |
||
|
Rautaoja
Jarkko Tapio, Heinola |
Holder
of procuration |
FI |
|
|
110264 |
The
procuration holders sign for the firm two jointly. |
||
|
Rouhunkoski
Yrjö Heikki, Helsinki |
Holder
of procuration |
FI |
|
|
190543 |
The
procuration holders sign for the firm two jointly. |
||
|
Ruokolainen
Hannu Tapani, Oulu |
Holder
of procuration |
FI |
|
|
070146 |
The
procuration holders sign for the firm two jointly. |
||
|
Rämö
Arto Heikki Juhani, Hämeenlinna |
Holder
of procuration |
FI |
|
|
040967 |
The
procuration holders sign for the firm two jointly. |
||
|
Räty
Asko Ilmari, Helsinki |
Holder
of procuration |
FI |
|
|
150845 |
The
procuration holders sign for the firm two jointly. |
||
|
Saarinen
Ismo Ilari, Lappeenranta |
Holder
of procuration |
FI |
|
|
091060 |
The
procuration holders sign for the firm two jointly. |
||
|
Salste
Matti Kullervo, Imatra |
Holder
of procuration |
FI |
|
|
050743 |
The
procuration holders sign for the firm two jointly. |
||
|
Schildt Seppo Kalevi, Meerbusch-Strümp |
Holder
of procuration |
FI |
|
|
290446 |
The
procuration holders sign for the firm two jointly. |
||
|
Siitonen Jussi Pekka Kaarlo, Kirkkonummi |
Holder
of procuration |
FI |
|
|
041069 |
The
procuration holders sign for the firm two jointly. |
||
|
Song
Wangqiu, Shanghai |
Holder
of procuration |
FI |
|
|
300868 |
The
procuration holders sign for the firm two jointly. |
||
|
Suominen
Raimo Sakari, Kempele |
Holder
of procuration |
FI |
|
|
130460 |
The
procuration holders sign for the firm two jointly. |
||
|
Suur-Hamari Tuija Anneli, Kotka |
Holder
of procuration |
FI |
|
|
070169 |
The
procuration holders sign for the firm two jointly. |
||
|
Suursalmi
Pekka Juhani, Heinola |
Holder
of procuration |
SE |
|
|
120548 |
The
procuration holders sign for the firm two jointly. |
||
|
Swartling
Hans Christian, Shanghai |
Holder
of procuration |
SE |
|
|
130458 |
The
procuration holders sign for the firm two jointly. |
||
|
Tahvanainen
Veli-Matti Antero, Helsinki |
Holder
of procuration |
FI |
|
|
060448 |
The
procuration holders sign for the firm two jointly. |
||
|
Tanner
Riitta Katariina, Helsinki |
Holder
of procuration |
FI |
|
|
290662 |
The
procuration holders sign for the firm two jointly. |
||
|
Taukojärvi
Minna Helena, Helsinki |
Holder
of procuration |
FI |
|
|
070467 |
The
procuration holders sign for the firm two jointly. |
||
|
Tehomaa
Jarkko Vilhelm, Kemi |
Holder
of procuration |
FI |
|
|
030265 |
The
procuration holders sign for the firm two jointly. |
||
|
Tuomivaara
Heikki Tuomo Sakari, Loviisa |
Holder
of procuration |
FI |
|
|
250474 |
The
procuration holders sign for the firm two jointly. |
||
|
Varis
Ville Aleksi, Varkaus |
Holder
of procuration |
FI |
|
|
160673 |
The procuration
holders sign for the firm two jointly. |
||
|
Vehviläinen
Antti Juhani, Espoo |
Holder
of procuration |
FI |
|
|
210455 |
The
procuration holders sign for the firm two jointly. |
||
|
Vesanto
Risto Pekka, Imatra |
Holder
of procuration |
FI |
|
|
051043 |
The
procuration holders sign for the firm two jointly. |
||
|
Vesmanen
Anu Marjut, Kirkkonummi |
Holder
of procuration |
FI |
|
|
170964 |
The
procuration holders sign for the firm two jointly. |
||
|
Virtanen
Voitto Aarre Olavi, Imatra |
Holder
of procuration |
FI |
|
|
140247 |
The
procuration holders sign for the firm two jointly. |
||
|
Ylikangas
Veli Tapio, Kemijärvi |
Holder
of procuration |
FI |
|
|
050348 |
The
procuration holders sign for the firm two jointly. |
||
|
Åkerlund
Kirsi Marjaana, Imatra |
Holder
of procuration |
FI |
|
|
190870 |
The
procuration holders sign for the firm two jointly. |
||
|
Lahtela
Erkki Veli, Kemijärvi |
Holder
of procuration |
FI |
Right
expired on 14.11.2006 |
|
070245 |
The procuration
holders sign for the firm two jointly. |
||
|
Martikainen
Seppo Matti Juhani, Kemijärvi |
Holder
of procuration |
FI |
Right
expired on 14.11.2006 |
|
231242 |
The
procuration holders sign for the firm two jointly. |
||
|
Diesen
Magnus Christopher, Kauniainen |
Holder
of procuration |
FI |
Right
expired on 11.09.2006 |
|
210144 |
The
procuration holders sign for the firm two jointly. |
||
|
Kyttälä Osmo Markku Kalevi, Helsinki |
Holder
of procuration |
FI |
Right expired
on 11.09.2006 |
|
150543 |
The
procuration holders sign for the firm two jointly. |
||
|
Lahtinen
Marjaliisa Anneli, Heinola |
Holder
of procuration |
FI |
Right
expired on 11.09.2006 |
|
290844 |
The procuration
holders sign for the firm two jointly. |
||
|
Saarela
Kauko Tapio, Kotka |
Holder
of procuration |
FI |
Right
expired on 14.06.2006 |
|
210952 |
The
procuration holders sign for the firm two jointly. |
||
|
Stade
Yngve Arneson, Danderyd |
Authorised
signatory |
SE |
Right
expired on 30.03.2006 |
|
131147 |
The
authorised persons sign for the firm two jointly, or separately with a
Board member. |
||
|
Suuraho
Risto, Kerava |
Holder
of procuration |
FI |
Right
expired on 30.03.2006 |
|
190546 |
The
procuration holders sign for the firm two jointly. |
||
|
Kangas
Jorma Pellervo, Helsinki |
Holder
of procuration |
FI |
Right
expired on 13.03.2006 |
|
051139 |
The
procuration holders sign for the firm two jointly. |
||
|
Pelkonen
Arno Lauri Johannes, Helsinki |
Holder
of procuration |
FI |
Right
expired on 13.03.2006 |
|
110554 |
The
procuration holders sign for the firm two jointly. |
||
|
Tevä
Erkki Olavi, Imatra |
Holder
of procuration |
FI |
Right
expired on 13.03.2006 |
|
040544 |
The
procuration holders sign for the firm 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 |
|