MIRA
INFORM REPORT
|
Report Date : |
3rd
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
MEDA
AB |
|
|
|
|
Registered Office : |
Box
906, 170 09 Solna |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2005 |
|
|
|
|
Date of Incorporation : |
June
1991 |
|
|
|
|
Legal Form : |
Public
Limited Company |
|
|
|
|
Line of Business : |
Wholesale
of pharmaceutical goods |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
10.000
TSEK |
|
|
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Meda
AB
Comp. no : 556427-2812
Box
906
170
09 Solna
Visiting
address: Pipers Väg 2
Tel : +46-8-630 19 00
Credit
rating. : 5
Risk
forecast .: 0,10%
Credit
limit : 10.000
TSEK
Pmt
complaints : Not reg
Claims : Not reg
Registered : 1991-06
Net
sales (05) : 977.600 TSEK
Res aft.
fin.net(05) : 302.700 TSEK
Equity
(05) : 3.534.300 TSEK
Employees : 56 pcs
Ultimate
parent company in Meda AB-group
Note:
Change of auditor occurred 060614.
MOST RECENT EVENTS
- New
Reg. Board member 06-06-14
- New
Reg. Board member 06-06-14
- Board
memb. resigned 06-06-14
- New
auditor 06-06-14
CREDIT OPINION
- Credit
rating.......: 5 (1 indicates the highest and 5 the lowest risk)
The
classification is based on ISN Risk forecast.
Risk
forecast......: 0,10%
The
forecast states the probability that the company will become insolvent within
12 months.
-
Explanation of company's Credit Rating and Risk Forecast
Area Influence
Owner
Decreases risk conside
The
company's ownership structure or group affiliation implies a very low risk of
insolvency generally.
Industry
Risk Forecast: 0,4%
Median
value for limited company regarding industry 51460, such as Wholesale of
pharmaceutical goods.
Other
info may of course affect your assessment of the risk.
- Credit
limit........: 10.000 TSEK (=maximum limit).
Applies
to short-term credit facilities. The limit has been set using a formula that
takes into consideration the annual accounts included in this credit report and
the current credit rating. Other information may of course influence the size
of the credit you may grant.
GENERAL INFORMATION AND HISTORY
- Legal
form :
Limited company, public
- Vat-no : SE
556427281201
-
Registered office :
Solna municipality in Stockholms county
- No of
locations : 1
Main establishment
------------------
-
Designation : Head office
-
Visiting address : Pipers Väg 2,
170 73 Solna
Description of business activities
----------------------------------
-
Wholesale of pharmaceutical goods
(Main
business acc to SCB, SNI2002:51460)
History
-------
- 91-06
Comp reg under the current reg no and name: Activera 10529 AB
- 91-09
Changed name to: Scanmeda Holding AB
- - - -
Company was registered to pay VAT
- 95-01
Company reg under the current name
- 96-01
Company registered to pay employer contributions
- 98-11
Taken over Meda Sverige AB through merger
- 99-11
Company registered to pay business tax
- 99-12
Anders Lönner new Managing Director
- 06-05
Articles of Association adopted
Matters pending with Reg. Office
--------------------------------
No notes
of imminent changes
Non categorized information
---------------------------
- The
company has the following SE domain(s) and possibly a home page:
www.meda.se,
www.medaab.se, www.medasverige.se,
www.mic-key.se
-
Customs have granted the company to bring home goods/credit permit
Note:
Note that the company took over Meda Sverige AB through merger in 98-11.
BOARD OF DIRECTORS ETC
Board
members according to Reg Office
-------------------------------------
Board
members etc reg prior to 91-04 unless otherwise stated.
-------------------------------------------------------------
- Anders
Lönner (Birth: 1945) MD
and Regular member
Reg. in company 99-12-06
- Lars
Tuve Patrik Johannesson Regular
member
(Birth: 1943) Emigrated
Living abroad
Reg. in company 06-06-14
- Anders
Waldenström (Birth: 1943) Regular
member
Reg. in company 00-05-25
- Bert
Åke Eriksson (Birth: 1944) Regular
member
Reg. in company 98-09-07
- Peter
Sigurd Ivar Sjöstrand Regular
member
(Birth: 1946) Reg. in company 00-05-25
-
Marianne Elisabeth Hamilton Regular
member
(Birth: 1947) Reg. in company 06-06-14
-
Öhrlings Pricewaterhousecoopers AB Revisionsföretag
(556029-6740) Reg. in company 06-06-14
Board members etc that have left the company
during the last two years
----------------------------------------------------------------------
- Gert
Lennart Perlhagen Regular
member
(Birth: 1942) Living abroad
Reg. in company 99-10-08
Deregistered 06-06-14
Board of directors data
-----------------------
- No of
board members (ord members and MD)
6
- Any
board member with comm in other comp?
Yes
- Any
board member with comm in bankrupt comp?
Yes
- Any
board member with payment complaint?
Yes
- Any
board member with bankruptcy petition?
No
- Any
brd member with bal of dept with Enf Auth?
No
Authorized signatory (available in Swedish
on
------------------------------------------------
Firman
tecknas av styrelsen
firman
tecknas två i förening av
-Ledamöterna
Dessutom
har verkställande direktören rätt att teckna firman
beträffande
löpande förvaltningsåtgärder
Note:
Change of auditor occurred 060614.
GROUP RELATIONSHIP ETC
Own.-
As of Comments
Shareholder
in subject company share
------------------------------
- Volati
BV (The Netherlands). 5 % 06-07
-
Lannebo Fonder (Sweden)..... 4 % 06-07
- Nordea
Fonder (Sweden)...... 4 % 06-07
- Morgan
Stanley & Co Inc (USA 1 % 06-07
- Roburs
Fonder (Sweden)...... 3 % 06-07
- Afa
Sjukförsäkringsaktiebolag... 1
% 06-07
(502033-0642)
- Stena
Sessan Rederi AB...... 27
% 06-08
(556034-7188)
- Kaprik
Invest AB............ 4
% 06-07
(556605-2303)
- Andra
Ap-Fonden............. 7
% 06-07
(857209-0606)
For a
complete specification of subsidiaries etc, see enclosure 3.
ANNUAL ACCOUNTS AND RATIOS
Inc. Statem. TSEK
-----------------
0501-0512 0401-0412 0301-0312
0201-0212 0101-0112
Net sales +977.600
+425.500 +361.400 +206.800
+146.600
P/l after fin
itm...+302.700....+68.700....+73.500.....+9.500....-17.700
Balance TSEK
------------
0501-0512 0401-0412 0301-0312
0201-0212 0101-0112
Tot fixed ass
.....7.392.000....920.600....624.500....308.900....286.400
Tot curr assets
.....442.400....201.300....148.300....122.500.....51.200
Total equity
......3.534.300....363.700....340.900....158.600...........
Tot long-t liab
...3.687.500.....94.600....139.700.....52.700.....60.200
Tot current liab
....181.700....450.100....123.900....128.200.....60.700
Tot equity &
liab..7.834.400..1.121.900....772.800....431.400....337.600
Notes and
audit rpt
--------- 0501-0512 0401-0412 0301-0312 0201-0212
0101-0112
No of employees 56
57 56 57 58
Audit report Unqualif
Unqualif Unqualif Unqualif
Unqualif
Ratios 0501 0401 0301 0201
01011)industry-
------
-0512 -0412 -0312
-0212 -0112 value 05
Equity/assets % 48,6 43,3
56,0 45,8 7,9
34,1
Quick ratio % 178,9 29,7
72,2 75,0 59,1
110,5
Return on ass. % 6,2 7,5 10,5
4,2 -2,6 10,2
Cash fl/t.liab % 11,1 18,6 35,8
13,2 12,6 14,0
Risk margin % 1,7 5,1
8,2 0,5 -8,0
9,6
Consol. ratio % 50,1 48,0 61,0 49,7
11,3 35,4
1) Median of companies with at
least 20 employees in an industry 51460 such as Wholesale of pharmaceutical
goods
Analysis
of the annual accounts (three years)
---------------------------------------------
Special
comments relating the future
Yields
will not be able to cover financial costs, if the difference between yield and
average interest on debt continues to develop in the current manner.
Note:
the forecast for the company's insolvency is very low.
For the
complete annual accounts and all ratios, see enclosure 1.
CONSOLIDATED ANNUAL ACCOUNTS AND
RATIOS
Inc. Statem. MSEK
-----------------
0501-0512 0401-0412 0301-0312
0201-0212
Net sales +2.870
+1.042 +871 +853
P/l after fin
itm.......+142.......+118........+86........+51
Balance
MSEK
------------
0501-0512 0401-0412 0301-0312
0201-0212
Tot fixed ass
.........9.826........892........589........220
Tot curr assets .......1.674........375........325........310
Total equity
..........3.760........537........458........235
Tot long-t liab
.......6.575........105........148.........77
Tot current liab
......1.165........498........206........163
Tot equity & liab.....11.500......1.267........914........530
Notes
and
audit rpt
---------
0501-0512 0401-0412 0301-0312
0201-0212
No of employees 857
152 145 123
Audit report Unqualif
Unqualif Unqualif Unqualif
Ratios 0501
0401 0301 0201
------
-0512 -0412 -0312
-0212
Equity/assets % 32,7 42,4
50,1 44,3
Quick ratio % 93,4 39,0
70,1 111,1
Return on ass. % 3,1 10,6 10,4
11,7
Cash fl/t.liab % 4,4 19,6 20,8
18,8
Risk margin % 0,3 8,4
8,3 8,1
Consol. ratio % 32,7 42,4
50,1 44,3
For compl. annual accounts and all ratios for the group, see enclosure 2.
OTHER FINANCIAL INFORMATION
Share capital
-------------
- Total: 208.989 TSEK
- The most recently registered changes in the share capital
Amount
05-09 New issue 83.583 TSEK
05-01 New issue 35.549 TSEK
03-06 New issue 4.827 TSEK
02-11 New issue 16.444 TSEK
01-09 New issue 16.444 TSEK
Chattel mortgages
-----------------
- Total: 110.000,0 TSEK
- The most recently issued mortgages
Amount
01-09 75.000,0 TSEK
00-11 5.000,0 TSEK
99-05 10.000,0 TSEK
99-05 20.000,0 TSEK
Unprivileged claims in clients' bankruptcies
--------------------------------------------
- We has not been notified about any claims in bankruptcies in the last 2 years.
Properties
----------
- The company is not reg as property owner according to ISN's.
PAYMENT COMPLAINTS, COMPLAINTS
AND OTHER PAYMENT INFORMATION
- No complaints have been registered.
- Debt with the Enforcement Serv, no debt was recorded on 2006-12-29.
- The company has not had any debt registered with the Swedish Enforceme Authority either in the last 24 months.
MOST RECENT INQUIRIES AT ISN
- During the last 12 months there have been 6 inquiries reg. at ISN.
Date
- Up to 10 most recently registered inquiries
Date
06-08-11
06-08-01
06-07-18
06-03-17
06-03-01
06-01-19
ENCLOSURES
No. Type of enclosure, name etc
1 Annual accounts/ratios
2 Consolid. annual accounts/ratios
3 Group relationship
ANNUAL ACCOUNTS AND RATIOS
Inc.
Statem. TSEK
-----------------
0501-0512 0401-0412 0301-0312
0201-0212 0101-0112
Net sales +977.600
+425.500 +361.400 +206.800
+146.600
Cost gds sold -336.600
-241.900 -196.700 -106.500
-77.300
Gross p/l ..........+641.000...+183.600...+164.700...+100.300....+69.300
Selling exp -106.500
-47.100 -41.600 -41.300
-35.100
Admin exp -48.200
-42.000 -36.400 -32.400
-41.100
R&D costs -131.800
-50.300 -38.700 -21.800 -7.800
Itm aff compar 0
0 +11.000 0 0
Other op inc +17.600
+16.700 0 +6.800 +4.300
Other op expenses 0 0 0 -1.400 0
Operating P/l
......+372.100....+60.900....+59.000....+10.200....-10.400
Res f part grp co +100.300 +22.500 +20.400 +7.700 0
Ext interest inc +2.300 +300 +1.000 +100 0
Other fin income +8.300 +100 +1.000 0 +1.700
Total fin income +110.900 +22.900 +22.400 +7.800 +1.700
Ext interest exp -141.200 -15.100 -7.900 -7.800 -9.000
Other fin exp -39.100
0 0 -700 0
Tot fin exp -180.300
-15.100 -7.900 -8.500 -9.000
P/l after fin
itm...+302.700....+68.700....+73.500.....+9.500....-17.700
P/l bef approp
.....+302.700....+68.700....+73.500.....+9.500...........
Appropriations -216.400
-43.800 -75.100 -17.400
-21.500
P/l bef tax
.........+86.300....+24.900.....-1.600.....-7.900...........
Tax +14.200
-400 +5.100 +5.700
+11.200
Net p/l for year ...+100.500....+24.500.....+3.500.....-2.200....-28.000
Balance
TSEK
------------
0501-0512 0401-0412 0301-0312
0201-0212 0101-0112
Patents, licences 1.524.300 576.900 405.900 0 0
Other int ass 0
0 0 177.900 131.300
Tot int ass 1.524.300
576.900 405.900 177.900
131.300
Equipment 1.000
800 1.000 1.900 2.600
Tot mach & equip 1.000 800 1.000 1.900 2.600
Tot tan ass 1.000
800 1.000 1.900 2.600
Par in grp/asso 5.801.000
339.900 199.700 55.700 55.200
Rec f grp/asso 54.100
200 16.200 71.400 94.700
Other fin ass 11.600
2.800 1.700 2.000 2.600
Tot fin ass 5.866.700
342.900 217.600 129.100
152.500
Tot fixed ass
.....7.392.000....920.600....624.500....308.900....286.400
Other invent 117.300
67.500 58.800 26.400 15.300
Tot inventories 117.300
67.500 58.800 26.400 15.300
Accs receivable 129.200
26.900 35.400 21.100 19.700
Rec f grp/ass cos 77.400 70.900 47.400 19.900 3.100
Other curr rec 49.100
9.900 4.800 3.700 7.000
Tot curr rec 255.700
107.700 87.600 44.700 29.800
Tot cash & bank 69.400 26.100 1.900 51.400 6.100
Tot curr assets .....442.400....201.300....148.300....122.500.....51.200
Total assets
......7.834.400..1.121.900....772.800....431.400....337.600
Balance
TSEK
------------
0501-0512 0401-0412 0301-0312
0201-0212 0101-0112
Share capital 209.000
88.300 87.100
65.800
Other restr cap 3.161.900
215.500 205.100 61.000
P/l brought forw 62.900 35.400 45.200 34.000
Net p/l for year 100.500 24.500 3.500 -2.200
Total equity ......3.534.300....363.700....340.900....158.600...........
Tot untax res
.......391.000....174.600....130.800.....55.700.....38.300
Tot provisions
.......39.900.....38.900.....37.500.....36.200.....34.100
Liab to cred inst 3.682.900 94.500 133.500 52.600 60.100
Bnk overdr util 0
200 0 0
Liabl to group co 4.600 100 6.100 100 100
Oth long-t liab 0
0 100 0 0
Tot long-t liab ...3.687.500.....94.600....139.700.....52.700.....60.200
Liab to cred inst 0 323.000 39.200 11.200 15.000
Accs payable 76.800
35.600 32.300 18.300 14.500
Liab t grp/ass co 34.000 26.600 14.200 73.900 18.700
Other current lia 70.900 64.900 38.200 24.800 12.500
Tot current liab
....181.700....450.100....123.900....128.200.....60.700
Tot equity &
liab..7.834.400..1.121.900....772.800....431.400....337.600
Notes
etc TSEK
--------------
0501-0512 0401-0412 0301-0312
0201-0212 0101-0112
No of employees 56
57 56 57 58
Salaries board/MD 4.400 17.600 3.800 3.600 3.300
Wgs/sal to others 26.500 23.900 24.800 21.800 20.200
Total wages/sal 30.900
41.500 28.600 25.400 23.500
Bonus board/MD 7.900
1.900 1.200 400 500
Perf pay emply 0 600
0 200 600
Tot wages/remun 38.800
44.000 29.800 26.000 24.600
Soc sec exp 18.400
11.700 22.500 18.700 16.600
Dividend 52.240
24.834 17.416 0
0
Contr sev pay Yes
Yes Yes Yes Yes
Unspec deprec 116.200
40.000 29.100 13.400 8.300
of wh admin costs 300 600 1.100 1.400 1.500
of wh R&D costs 115.900 39.400 28.000 12.000 6.800
Bnk overd granted 55.000
55.000 75.000 25.000
Bnk overdr util 0
200 0 0
Floating charges 10.000 110.000 110.000
110.000 110.000
Other pledges 5.465.200
6.600 7.500 2.000 2.800
Total pl assets 5.475.200
116.600 117.500 112.000
112.800
Other contin liab 7.700 700 3.700 4.800 1.600
Tot conting liab 7.700 700 3.700 4.800 1.600
119.132 4.827 16.444 16.444
Audit
report
------------
0501-0512 0401-0412 0301-0312
0201-0212 0101-0112
Audit report Unqualif
Unqualif Unqualif Unqualif
Unqualif
Original annual accounts
------------------------
Order by select. Add servYes Yes Yes Yes Yes
Ratios 0501 0401 0301 0201
01011)industry-
------
-0512 -0412 -0312
-0212 -0112 value 05
Profitability............................................................
Return on equ. % 7,9 14,1 17,0
4,8 -66,0 32,1
Return on ass. % 6,2 7,5 10,5
4,2 -2,6 10,2
Interest rate % -4,5 -2,4
-2,3 -3,6 -5,4
-0,7
Risk margin % 1,7 5,1
8,2 0,5 -8,0
9,6
Gross margin % 49,1 22,8 24,4 11,0 -1,4
5,3
Oper margin % 37,4 13,8
16,3 4,8 -6,9
4,2
Net margin % 30,4 15,5
20,3 4,4 -11,7
4,5
Interest cover 2,7 5,6 10,3
2,1 -1,0 21,8
Capital
circulatn........................................................
Cap.turn.rate 0,1 0,4 0,5
0,5 0,5 2,2
Cash fl/t.liab % 11,1 18,6 35,8
13,2 12,6 14,0
Cash fl/finexp % 240,2 717,2 >999,9 336,5 216,7 1.669,7
Self-fin.ratio % 6,7 36,6 34,1
127,1 - 885,9
Stock turn./yr 8,5 6,6 6,2
8,1 9,9 10,3
Turn./empl. MSEK 17,8 7,8 6,5
3,7 2,6 4.723,0
Lab.costs/turn % -3,9 -10,0 -8,2
-12,2 -16,3 -9,9
Work.cap/turn. % 26,2 -56,3 6,8
-2,7 -6,3 13,3
Acc. rec./turn % 13,0 6,1 9,8
9,9 13,1 12,1
Stock/turn. % 11,8
15,3 16,3 12,4
10,1 8,7
Sh.liab./turn. % 18,3 101,8 34,3
60,0 40,2 22,1
Cust.cred.time 19,6 17,6 19,5
23,9 - 43,2
Cr period grntd 14,1 19,2 17,5
19,2 - 10,1
Liquidity................................................................
Current ratio % 243,5 44,7
119,7 95,6 84,3
155,5
Quick ratio % 178,9 29,7
72,2 75,0 59,1
110,5
Consolidation............................................................
Equity/assets % 48,6 43,3
56,0 45,8 7,9
34,1
Consol. ratio % 50,1 48,0
61,0 49,7 11,3
35,4
Debt/equ ratio 1,1 1,3 0,8
1,2 6,2 1,9
Risk ratio 0,2 0,2 1,1
3,0 - 7,6
Fixd assts
struct........................................................
Fin ass struct % 79,4 37,2 34,8
41,8 53,2 27,6
Int
ass struct % 20,6 62,7
65,0 57,6 45,8
14,1
Tan ass struct % 0,0 0,1 0,2
0,6 0,9 83,2
1)
Median of companies with at least 20 employees in an industry 51460 such as
Wholesale of pharmaceutical goods
Analysis
of the annual accounts (three years)
---------------------------------------------
Turnover/Capital
employed
Turnover
rose very steeply in 2005. This may indicate that the companies have completely
changed their operations. If this is the case then events etc. which have
occurred previously may be irrelevant.
The
balance sheet total rose very steeply in 2005. This may indicate that the
company has completely changed its operations. If this is the case then events
etc. which have occurred previously may be irrelevant.
Profitability
Return
on assets is low and profitability decreasing.
Financing
Recent
investments in fixed assets have been financed exclusively by means of
increased indebtedness.
Special
comments relating the future
Yields
will not be able to cover financial costs, if the difference between yield and
average interest on debt continues to develop in the current manner.
Note:
the forecast for the company's insolvency is very low.
CONSOLIDATED ANNUAL ACCOUNTS AND
RATIOS
Inc.
Statem. MSEK
----------------- 0501-0512 0401-0412
0301-0312 0201-0212
Net sales +2.870
+1.042 +871 +853
Cost gds sold -1.194
-636 -560 -620
Gross p/l ............+1.676.......+406.......+311.......+233
Selling exp -669
-145 -123 -107
Admin exp -290
-59 -51 -49
R&D costs -367
-70 -44 -23
Other op inc 0 0
0 +8
Other op expenses 0 0 0 -1
Operating P/l
..........+349.......+133........+93........+61
Ext interest inc +4 +1 +1 +1
Other fin income +8 0
+1 0
Total fin income +13 +1 +3 +1
Ext interest exp -168 -16 -10 -10
Other fin exp -52
0 0 -1
Tot fin exp -220 -16 -10 -11
P/l after fin
itm.......+142.......+118........+86........+51
P/l bef approp
.........+142.......+118........+86........+51
P/l bef tax
............+142.......+118........+86........+51
Tax -40
-33 -25 -13
Net p/l for year
.......+102........+85........+60........+39
Balance
MSEK
------------ 0501-0512 0401-0412
0301-0312 0201-0212
Patents, licences 3.502 697 460 0
Goodwill 5.298
169 100 15
Other int ass 9
0 0 178
Tot int ass 8.808
866 559 193
Land & bldgs 394
7 7 9
Machinery
214 0 0 0
Equipment 144
8 11 12
Tot mach & equip 358 8 11 12
Other tan ass 12
0 0 0
Tot tan ass 764
15 18 21
Par in grp/asso 0
0 0 0
Other fin ass 253
11 12 6
Tot fin ass 254
11 12 6
Tot fixed ass
.........9.826........892........589........220
Other invent 585
180 180 129
Tot inventories 585
180 180 129
Accs receivable 624
118 108 89
Other curr rec 131
15 11 11
Tot curr rec 755
134 119 100
Tot sh t investm 2 0 0 0
Tot cash & bank 331 61 26 81
Tot curr assets
.......1.674........375........325........310
Total assets
.........11.500......1.267........914........530
Balance
MSEK
------------ 0501-0512 0401-0412
0301-0312 0201-0212
Share capital 209
88 87 66
Other restr cap 3.183
354 304 102
P/l brought forw 266 9 7 28
Net p/l for year 102 85 60 39
Total equity ..........3.760........537........458........235
Tot provisions
............0........127........102.........56
Liab to cred inst 0 105 148 77
Bnk overdr util 0
29 2
Oth long-t liab 6.575 0 0 0
Tot long-t liab
.......6.575........105........148.........77
Liab to cred inst 0 328 76 20
Accs payable 416
70 66 58
Liab t grp/ass co 0 0 0 40
Other current lia 749 101 64 45
Tot current liab
......1.165........498........206........163
Tot equity &
liab.....11.500......1.267........914........530
Notes
etc MSEK
-------------- 0501-0512 0401-0412
0301-0312 0201-0212
No of employees 857
152 145 123
Salaries board/MD 24 22 8 8
Wgs/sal to others 436 59 54 46
Total wages/sal 460
81 62 53
Bonus board/MD 12
2 1 1
Perf pay emply 0
1 0 1
Tot wages/remun 471
84 64
55
Soc sec exp 115
19 29 24
Dividend
Contr sev pay No
No No Yes
Unspec deprec 241
58 34 17
of wh goods sold 26 0 0 0
of wh sell costs 7 1 1 1
of wh admin costs 25 4 4 4
of wh R&D costs 183 53 29 12
Bnk overd granted 117 110 160
Bnk overdr util 0
29 2
Floating charges 21 166 158 159
Other pledges 5.399
13 13 16
Total pl assets 5.420
180 171 174
Other contin liab 2 1 2 2
Tot conting liab 2 1 2 2
119 5 16
Audit report
------------ 0501-0512
0401-0412 0301-0312 0201-0212
Audit report Unqualif
Unqualif Unqualif Unqualif
Original
annual accounts
------------------------
Order by select. Add servYes No No No
Ratios 0501 0401 0301 0201
------ -0512 -0412
-0312 -0212
Profitability............................................................
Return on equ. % 3,8 22,0 18,7
21,9
Return on ass. % 3,1 10,6 10,4
11,7
Interest rate % -2,8 -2,2
-2,1 -3,6
Risk margin % 0,3 8,4
8,3 8,1
Gross margin % 20,6 18,4
14,6 9,0
Oper margin % 12,2 12,8
10,7 7,1
Net margin % 4,9 11,3
9,8 6,0
Interest cover 1,6 8,5 9,8
5,9
Capital
circulatn........................................................
Cap.turn.rate 0,3 0,8 1,0
1,6
Cash fl/t.liab %
4,4 19,6 20,8
18,8
Cash fl/finexp % 155,8 911,5 976,3
529,5
Self-fin.ratio % 3,8 47,2 25,7 -
Stock turn./yr 4,9 5,8 4,8
6,7
Turn./empl. TSEK 3.348,0 6.854,0
6.004,0 7.002,0
Lab.costs/turn % -16,4 -8,1 -7,3
-6,3
Work.cap/turn. % 17,7 -11,9 13,6
17,1
Acc. rec./turn % 21,7 11,4 12,4
10,3
Stock/turn. % 20,4 17,3
20,7 15,0
Sh.liab./turn. % 40,6 47,8 23,7
18,9
Cust.cred.time 32,3 27,1 28,2 -
Cr period grntd 21,2 16,3 17,8 -
Liquidity................................................................
Current ratio % 143,6
75,2 157,4 190,5
Quick ratio % 93,4 39,0
70,1 111,1
Consolidation............................................................
Equity/assets % 32,7 42,4
50,1 44,3
Consol. ratio % 32,7 42,4
50,1 44,3
Debt/equ ratio 2,1 1,4 1,0
1,3
Risk ratio 0,1 0,1 0,4
0,
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 |
|