name & address
Vanpipe
Oy
Juvan
Teollisuuskatu 25 H, 02920 Espoo
Telephone: 09 852 4040
Telefax: 09 852 1336
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Registered
31.03.2005
Trade register number
--
Business ID
19561318
Business started
16.06.2005
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Turnover:
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In
2006, the turnover amounted to 2.616 thousand EUR, the length of the
accounting period was 6 months, and the period ended on 31.12.2006.
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Number of employees:
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In
2006, the number of employees amounted to 11.
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Line of business:
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The
company´s investigated line of business on 19.05.2006 is: wholesale of
metal and mineral products (51533).
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Payments
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Background
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Finances
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>
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very positive
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strong
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excellent
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positive
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>
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good
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good
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not negative
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satisfactory
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satisfactory
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slightly negative
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passable
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>
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passable
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negative
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poor
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poor
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no classification
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no classification
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Maximum
credit recommendation
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Basics
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Company
form
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Joint-stock
company
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Type
of
ownership
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Private
Finnish
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Share
capital
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Paid
share capital: 270.000 EUR
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Activity
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In
2006, the turnover amounted to 2.616 thousand EUR, the length of the accounting
period was 6 months, and the period ended on 31.12.2006.
In 2006, the number of
employees amounted to 11.
The company´s branch is Espoo.
The company´s investigated
line of business on 19.05.2006 is: wholesale of metal
and mineral products (51533).
According to an account,
the company is engaged in export and import.
The company works in
rented premises.
The company has been in
the Employer Register since 01.03.2006.
The company has been in
the Prepayment register since 16.06.2005. Validity to
be checked on 29.02.2008.
The company has been VAT
liable for business activity since 02.06.2005.
According to an account of
04.10.2006, the company´s bankers/financiers are Helsinki
OP Bank Plc, Financing company.
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Other
names
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Old
name: 27.02.2006 Scanfit Oy
Auxiliary business name:
Tonika Steel
Parallel business name:
Vanpipe Ab
Parallel business name:
Vanpipe Ltd
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Payments
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The
company has no registered payment defaults. There are positive remarks concerning
the company´s payments.
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Persons in charge
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Managing
director
Walander
Tom Rolf Tapio, from 27.06.2006 on
140565-0991,
Kirkkonummi
Participation
in one company on the basis of the identity number, the company
has no payment defaults.
Chairman
Walander Tor
Birger, from 21.06.2005 on
060139-1696, Espoo
Participation in 2
companies on the basis of the identity number, the companies
have no payment defaults.
Ordinary member
Hartikainen Mika Petri,
from 29.09.2006 on
280966-1794, Helsinki
No participation
in companies on the basis of the identity number.
Ordinary member
Walander Tom Rolf
Tapio, from 29.09.2006 on
140565-0991,
Kirkkonummi
Participation in
one company on the basis of the identity number, the company
has no payment defaults.
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Authorised signatures
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According
to the statutes, the chairman of the Board and the managing director
sign for the firm separately.
Procuration rights have not
been granted.
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Shareholders
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According
to information received from the company on 13.04.2007, shareholders
are:
Tonika Trading Oy,
VAT No. 10982191, with 551 shares
Walander Tom, born
14.05.1965, with 490 shares
Walander Svetlana,
born 02.08.1970, with 309 shares
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Business mortgages
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Business
mortgages total altogether 425 thousand EUR.
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Financial statement analysis
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The
financial statement analysis is based on the financial statement data of
Vanpipe Oy in the accounting period as at 31.12.2006. The analysis also utilizes
the data of the accounting periods 2005-2006. The length of the latest
accounting period of the company (6months) is exceptional; therefore,
the ratios have been changed to correspond to 12 months. The comparability
of the ratios in relation to previous months and the line of business
may still be poorer than usual.
The company has been
founded less than five years ago, so uncertain factors characteristic
of new companies may be related with its development.
The auditor has approved
the financial statement without remarks.
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Industry
comparison
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The
comparison includes 159 companies in the industry class 51533 Wholesale of
metal and mineral products. The risk of bankruptcy in the line is 0.4 %, and
the risk of payment defaults 6.0 %. The risk of payment defaults is lower
than average.
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Volume
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The
turnover of Vanpipe Oy is medium-sized (2.6 mill EUR), on 12 month level
(5.2 mill EUR). In its line, the company is clearly larger than average
(927 tEUR). The turnover increased extensively in the latest accounting
period (55.8). The increase has been considerably faster than the
average in the line. Due to this, the subject may fast increase its market
share, provided that the trend continues in the future. In the latest
accounting period, the company employed 11 persons on average. The turnover
per person is 476 tEUR, which is good compared with the line (median
273 tEUR).
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Profitability
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The
operating margin of the company (3.5 %) is poor, proportioned to the line
(median 8.9 %). This indicates very poor internal financing. The internal
financing has steeply decreased, with respect to the previous year.
Also the operating result in % (2.8 %) is poor, compared with the line
(7.7 %), referring to a dangerously low contribution margin. The central
ratio for profitability, return on investment, is satisfactory (10. 0
%). This is clearly lower than the average in the line (median 25.9 %). 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
6.9 %. The return is passable, in relation to the line of business (18. 6%).
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Liquidity
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The
liquidity is passable, measured by quick ratio (0.5), which is considerably
lower than the average in the line (median 1.0). The company´s financial
buffer is very small. The sales receivable turnover of the company
is long (48 days) compared with the line (32 days).
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Solvency
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The
solvency of Vanpipe Oy is passable, measured by equity ratio (21.0 %). Median
in the line is 47.1 %, so the company´s solvency is clearly poorer than
that of the line. The company´s net gearing is 2.4, which can be considered
passable. The relative indebtedness is 33.8%, which is passable compared
with the median in the line (20.2%).
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Summary
and remarks
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The company has the
qualifications to improve its solvency in the future, provided
that the profitability remains on the present level.
After the closing of the
accounting period, the following company has been merged
with the company under analysis, the effect of which on the financial
statement analysis has to be considered separately. TONIKA STEEL OY,
R74579, 31.01.2007.
The verbal interpretation
of the financial statements analysis has been produced programmatically
from unadjusted financial statements.
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Audit of the accounts
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Auditor
in the accounting period as at 01.07.2006 - 31.12.2006:
HTM
Salo Seppo
The
auditor has approved the financial statement without remarks.
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Number of enquiries
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32
enquiries have been made on the company during the past 6 months, of which
6 during the past 30 days.
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Reference
line of business: wholesale of metal and mineral products (51533)
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Period
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Code
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From due date
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Delayed, total
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Number of observations
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04/2007
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ML
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1
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03/2007
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ML
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1
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02/2007
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ML
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1
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01/2007
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ML
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1
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11/2006
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ML
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1
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10/2006
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ML
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1
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Numbers
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Amount
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Amount, each
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Creditor or holder/ Receiver of secondary
mortgage
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Date of application
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001
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1
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25,2 t EUR
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Yritys itse
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21.04.1993
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001
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1
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100,0 t EUR
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Okopankki Oyj
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22.02.2006
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002
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1
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100,0 t EUR
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Okopankki Oyj
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22.02.2006
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003
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1
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100,0 t EUR
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Okopankki Oyj
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22.02.2006
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004
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1
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100,0 t EUR
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Okopankki Oyj
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22.02.2006
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Business mortgages, total
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425,2 t EUR
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The register is not equivalent to the official
extract. The official extracts are available at the trade register.
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Summary of
the profit and loss account
(t EUR)
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31.12.2006
06 months
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30.06.2006
06 months
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31.12.2005
10 months
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Turnover
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2.615,7
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1.679,3
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Other operating income
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0,0
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157,5
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Raw materials and services
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-2.130,1
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-1.348,2
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Gross result
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485,7
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488,6
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Other operating expenses
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-394,6
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-226,6
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-6,7
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Depreciation
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-18,8
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-5,0
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Operating result
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72,2
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257,0
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-6,7
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Financing income
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0,1
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0,0
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160,0
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Financing expenses
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-27,0
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-19,7
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-21,4
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Result before extraordinary items
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45,3
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237,3
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131,9
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Extraordinary items
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Result before appropriations and taxes
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45,3
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237,3
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131,9
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Appropriations
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Direct taxes
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-12,6
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-20,9
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Result for the financial year
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32,8
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216,4
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131,9
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31.12.2006 6 months
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PROFIT
AND LOSS ACCOUNT
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TURNOVER
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2.615,7
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Other
operating income
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0,0
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Materials
and services
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Materials,
supplies and goods
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Purchases
during the fiscal period
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-2.230,8
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Change
in raw material inventories
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101,4
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Outsourced
services
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-0,7
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Personnel
expenses
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Salaries
and wages
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-181,5
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Social
security expenses
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Pension
expenses
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-34,6
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Other
social security expenses
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-9,7
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Depreciation
and reductions in value
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Depreciation
according to plan
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-18,8
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Other
operating expenses
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-168,8
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OPERATING
RESULT
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72,2
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Financial
income and expenses
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Other
interest and financial income
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0,1
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Interest
and other financial expenses
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-27,0
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RESULT
BEFORE EXTRAORDINARY ITEMS
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45,3
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RESULT
BEFORE CLOSING ENTRIES AND TAXES
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45,3
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Closing
entries
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Income
taxes
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-12,6
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RESULT
FOR THE FISCAL PERIOD
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32,8
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Summary of
the balance sheet (t EUR)
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31.12.2006
06 months
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30.06.2006
06 months
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31.12.2005
10 months
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Intangible assets
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11,8
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13,6
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Tangible assets
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140,5
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56,4
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Investments
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1.016,0
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Stocks
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1.385,6
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1.162,7
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Current financial assets
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697,4
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707,2
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82,5
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Subscribed capital
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200,0
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200,0
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200,0
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Reserves
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70,0
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Retained earnings
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165,7
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20,9
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Result for the financial year
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32,8
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216,4
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131,9
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Subordinated loans
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Accumulated appropriations
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Provisions
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Long-term debts
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400,0
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480,0
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600,0
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Current liabilities
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1.366,9
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1.022,6
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166,6
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Balance sheet total
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2.235,3
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1.939,9
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1.098,5
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31.12.2006 6 months
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BALANCE
SHEET
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ASSETS
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FIXED
AND OTHER NON-CURRENT ASSETS
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Intangible
assets
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Intangible
rights
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6,8
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Other
capitalised expenses
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5,1
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Tangible
assets
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Machinery
and equipment
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139,3
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Other
tangible assets
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1,2
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CURRENT
ASSETS
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Inventories
and work-in-progress
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Materials
and supplies
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1.264,2
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Advances
paid
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121,4
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Receivables
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Long
term receivables
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Short
term receivables
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Trade
receivables
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693,4
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Other
receivables
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1,3
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Prepaid
expenses and accrued income
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0,8
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Financial
assets
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Cash
in hand and at banks
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1,9
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BALANCE
SHEET TOTAL
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2.235,3
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SHAREHOLDERS´
EQUITY AND LIABILITIES
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SHAREHOLDERS´
EQUITY
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Share
capital, subscribed capital of a co-operati
|
200,0
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Other
reserves
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Other
reserves
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70,0
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Retained
earnings (losses)
|
165,7
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Result
for the fiscal period
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32,8
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LIABILITIES
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Long
term liabilities
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Loans
from financial institutions
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400,0
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Short
term liabilities
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Loans
from financial institutions
|
581,1
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Trade
payables
|
360,0
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Loans
from and other liabilities to associated co
|
163,9
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Other
loans and liabilities
|
145,5
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Deferred
income and accrued expenses
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116,4
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BALANCE
SHEET TOTAL
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2.235,3
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Information
about the audit
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Accounting
period 31.12.2006
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The auditor has approved the financial statement
without remarks.
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Accounting period
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31.12.2006
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30.06.2006
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31.12.2005
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Volume
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Turnover EUR 1000
|
2.615,7
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1.679,3
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Change in turnover in %
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55,8
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Turnover/person EUR 1000
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475,6
|
373,2
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Profitability
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Operating margin (EBITDA) in %
|
3,5
|
14,3
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Operating result (EBIT) in %
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2,8
|
14,0
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Return on investment in %
|
10,0
|
43,0
|
16,8
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Return on total assets in %
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6,9
|
33,8
|
16,7
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Liquidity
|
|
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Quick ratio
|
0,5
|
0,7
|
0,5
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Current ratio
|
1,5
|
1,8
|
0,5
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Solvency
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|
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Equity ratio in %
|
21,0
|
22,5
|
30,2
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Net gearing
|
2,4
|
1,7
|
2,1
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Relative indebtedness in %
|
33,8
|
44,7
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Working capital
|
|
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Working capital ratio in %
|
32,9
|
36,7
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Inventories/turnover in %
|
24,2
|
34,6
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Sales receivable turnover in days
|
48
|
60
|
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Accounts payable turnover in days
|
29
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64
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Ratios of the line of business
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Line of
business 51533 Wholesale of metal and mineral products (552 kpl)
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Year
|
2006
|
2006
|
2005
|
2004
|
2003
|
|
Companies
in the line
|
159
|
159
|
275
|
294
|
296
|
|
Volume
|
|
|
|
|
|
|
Turnover
EUR 1000
|
927,0
|
927,0
|
707,8
|
601,0
|
652,3
|
|
Change
in turnover in %
|
10,1
|
10,1
|
9,6
|
7,3
|
-0,8
|
|
Turnover/person
EUR 1000
|
273,3
|
273,3
|
254,0
|
216,0
|
222,9
|
|
Profitability
|
|
|
|
|
|
|
Operating
margin (EBITDA) in %
|
8,9
|
8,9
|
7,7
|
7,5
|
7,1
|
|
Operating
result (EBIT) in %
|
7,7
|
7,7
|
5,4
|
5,7
|
5,0
|
|
Return
on investment in %
|
25,9
|
25,9
|
14,5
|
15,3
|
12,2
|
|
Return
on total assets in %
|
18,6
|
18,6
|
10,8
|
12,5
|
8,9
|
|
Liquidity
|
|
|
|
|
|
|
Quick
ratio
|
1,0
|
1,0
|
1,1
|
1,1
|
1,2
|
|
Current
ratio
|
1,9
|
1,9
|
1,8
|
1,7
|
1,8
|
|
Solvency
|
|
|
|
|
|
|
Equity
ratio in %
|
47,1
|
47,1
|
41,7
|
41,6
|
45,8
|
|
Relative
indebtedness in %
|
20,2
|
20,2
|
23,7
|
23,6
|
24,9
|
|
Working
capital
|
|
|
|
|
|
|
Working
capital ratio in %
|
13,2
|
13,2
|
10,0
|
10,4
|
11,0
|
|
Inventories/turnover
in %
|
12,2
|
12,2
|
11,6
|
12,4
|
14,3
|
|
Sales
receivable turnover in days
|
32
|
32
|
31
|
28
|
30
|
|
Accounts
payable turnover in days
|
37
|
37
|
40
|
40
|
38
|
|
|
|
|
|
|
|
Line of business
|
All companies
|
|
Payment default risk
|
6,0%
|
9,4%
|
|
Bankruptcy risk
|
0,4%
|
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.
|
|
|
|
