MIRA INFORM REPORT

 

 

Report Date :

21.04.2008

 

 

IDENTIFICATION DETAILS

 

Name :

EUROKANGAS OY

 

 

Registered Office :

Vaihdekatu 1  15520 Lahti 

 

 

Country :

Finland

 

 

Financials (as on) :

31.08.2006

 

 

Date of Incorporation :

01.08. 1980

 

 

Com. Reg. No.:

03644119

 

 

Legal Form :

Private Joint-Stock Company

 

 

Line of Business :

Retail Sale of Textiles

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

EUR 210000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

name & address

 

EUROKANGAS OY

 VAIHDEKATU 1

 15520 LAHTI FI

Tel. Number+358-3-8792000

Fax number +358-3-7826846

web-address WWW.EUROKANGAS.FI

E-mail addressEUROKANGAS@EUROKANGAS.FI

 

 

 

Business founded

01 August 1980

Business registered

13 June 1980 - Private joint-stock company

Tax number :,

03644119,

Registration number,

03644119,

Registration address,

VAIHDEKATU 1, LAHTI, 15520, FI

Visiting address,

VAIHDEKATU 1 , LAHTI, 15520, FI

Delivery address,

VAIHDEKATU 1, LAHTI, 15520, FI

Legal form

Private joint-stock company

Activities

Retail sale of textiles

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 210000 EUR is advised

Employees (Business)

 501

Total share capital13 June 1980

EUR 210000

Management

WARD CARL-JOHAN EDVARD   Managing director

Board members

WARD KAIJA TERTTU INKERI   Chairman of the board

 

WARD CARL-GUSTAV DANIEL   Board member

 

WARD CARL-JOHAN EDVARD   Board member

(Part-) Owner

KAIJA WARD PERHEINEEN   

Parent company :

01486372   SUPERKANGAS OY   100,0 %   

Authorized signature.

WARD CARL-GUSTAV DANIEL   Two members of the Board of Directors jointly, and the Chairman of the Board and the Managing Director alone

Auditor

HIRVINIEMI PAULI IISAKKI   Auditor

 

TILINTARKASTAJIEN OY - ERNST & YOUNG   Auditor

Bank

NORDEA PANKKI SUOMI OYJ, LAHTI   

Branch office(s)

ESPOO   

 

HELSINKI   

 

VANTAA   

 

H!EMEENLINNA   

 

JOENSUU   

 

JYV!ESKYL!E   

 

KAJAANI   

 

KOKKOLA   

 

KOTKA   

 

KOUVOLA   

 

KUOPIO   

 

LAPPEENRANTA   

 

LEMP!E!EL!E   

 

MIKKELI   

 

OULU   

 

PORI   

 

RIIHIM!EKI   

 

ROVANIEMI   

 

SALO   

 

SAVONLINNA   

 

SEIN!EJOKI   

 

TORNIO   

 

TURKU   

 

TUUSULA   

 

VAASA   

 

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 08 December 2005

all debentures and debenture mortgages taken out.  1859584 Total debentures / debenture mortgages

 

Corporate balance sheet/profit and loss account for the year: 01 September 2005 - 31 August 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

10.148.810,-

Total fixed assets

1.432.582,-

Total intangible fixed assets

25.000,-

Concessions and industrial rights, goodwill

53.878,-

Total tangible fixed assets

399.340,-

Plant, machinery and equipment

399.340,-

Total financial fixed assets

954.364,-

Investments (long-term)

954.364,-

Total Current assets

8.716.227,-

Inventories and work in progress (incl. prepayments)

7.963.593,-

Accounts receivable (trade)

579.125,-

Receivables from affiliates and companies in which participations are held

62.372,-

Cash in hand and at bank

111.137,-

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

10.148.810,-

Total equity (Shareholders' funds)

2.798.077,-

Issued (subscribed) capital

210.000,-

Profit or loss for the previous year

1.586.766,-

Profit or loss for the financial year

1.001.311,-

Total liabilities

7.350.733,-

Total long-term liabilities

999.547,-

Long-term liabilities to credit institutions

999.547,-

Total current liabilities

6.351.186,-

Current liabilities to credit institutions

2.229.041,-

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

2.419.808,-

Income and social tax liabilities

1.702.337,-

Total operating income/revenue

28.711.336,-

Main revenue (sales/turnover)

28.315.306,-

Total operating expenses

5.947.373,-

Cost of materials (type of expenditure format)

-11.276.456,-

Personnel costs

9.179.276,-

Depreciation

154.588,-

Operating profit or loss

2.153.642,-

Financial income

11.421,-

Financial expenses

99.419,-

Result of ordinary operations

2.065.645,-

Extraordinary expenses

700.000,-

Pre-tax and pre-appropriation profit or loss

1.365.645,-

Taxes

364.334,-

Net profit or loss

1.001.311,-

Borrowing ratio

270,33 %

Current ratio

137,24 %

Debt gearing

35,72 %

Profit margin.

7,65 %

Quick ratio

11,85 %

Return on assets

21,33 %

Return on equity.

73,82 %

Solidity or equity ratio

27,57 %

Change in turnover %

0,-

Turnover per person:

56.518,-

Operating margin

8,-

Trading profit %

8,-

Return on investment %

56,-

Return on capital %

21,-

Quick ratio

0,-

Current ratio

1,-

Equity ratio

28,-

Working capital %

25,-

Inventories/turnover %

28,-

Accounts receivable turnover in days

5,-

Accounts payable turnover in days

44,-

 

Corporate balance sheet/profit and loss account for the year: 01 September 2004 - 31 August 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

10.408.695,-

Total fixed assets

1.362.418,-

Concessions and industrial rights, goodwill

10.738,-

Total tangible fixed assets

396.176,-

Plant, machinery and equipment

396.176,-

Total financial fixed assets

955.504,-

Investments (long-term)

955.504,-

Total Current assets

9.046.279,-

Inventories and work in progress (incl. prepayments)

8.167.967,-

Accounts receivable (trade)

611.551,-

Receivables from affiliates and companies in which participations are held

111.767,-

Investments (short-term)

17.567,-

Cash in hand and at bank

137.427,-

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

10.408.695,-

Total equity (Shareholders' funds)

1.796.766,-

Issued (subscribed) capital

210.000,-

Profit or loss for the previous year

966.335,-

Profit or loss for the financial year

620.431,-

Total liabilities

8.611.929,-

Total long-term liabilities

382.945,-

Long-term Loans, Mortgage debts

210.020,-

Long-term liabilities to credit institutions

172.925,-

Total current liabilities

8.228.984,-

Current liabilities to credit institutions

3.025.340,-

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

3.445.595,-

Income and social tax liabilities

1.758.049,-

Total operating income/revenue

28.503.140,-

Main revenue (sales/turnover)

28.397.990,-

Total operating expenses

6.087.825,-

Cost of materials (type of expenditure format)

-11.776.808,-

Personnel costs

8.700.861,-

Depreciation

132.706,-

Operating profit or loss

1.804.940,-

Financial income

15.588,-

Financial expenses

310.415,-

Result of ordinary operations

1.510.113,-

Extraordinary expenses

600.000,-

Pre-tax and pre-appropriation profit or loss

910.113,-

Taxes

289.681,-

Net profit or loss

620.431,-

Borrowing ratio

482,18 %

Current ratio

109,93 %

Debt gearing

21,31 %

Profit margin.

6,41 %

Quick ratio

10,67 %

Return on assets

17,49 %

Return on equity.

84,05 %

Solidity or equity ratio

17,26 %

Change in turnover %

1,-

Turnover per person:

58.795,-

Operating margin

7,-

Trading profit %

6,-

Return on investment %

53,-

Return on capital %

15,-

Quick ratio

0,-

Current ratio

1,-

Equity ratio

17,-

Working capital %

23,-

Inventories/turnover %

29,-

Accounts receivable turnover in days

5,-

Accounts payable turnover in days

61,-

 

Corporate balance sheet/profit and loss account for the year: 01 September 2003 - 31 August 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

10.631.000,-

Total fixed assets

1.604.000,-

Concessions and industrial rights, goodwill

11.000,-

Total tangible fixed assets

435.000,-

Plant, machinery and equipment

435.000,-

Total financial fixed assets

1.158.000,-

Investments (long-term)

1.158.000,-

Total Current assets

9.030.000,-

Inventories and work in progress (incl. prepayments)

7.552.000,-

Accounts receivable (trade)

501.000,-

Receivables from affiliates and companies in which participations are held

765.000,-

Investments (short-term)

16.000,-

Cash in hand and at bank

196.000,-

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

10.631.000,-

Total equity (Shareholders' funds)

1.176.000,-

Issued (subscribed) capital

210.000,-

Profit or loss for the previous year

511.000,-

Profit or loss for the financial year

455.000,-

Total liabilities

9.454.000,-

Total long-term liabilities

442.000,-

Long-term Loans, Mortgage debts

226.000,-

Long-term liabilities to credit institutions

216.000,-

Total current liabilities

9.012.000,-

Current liabilities to credit institutions

3.990.000,-

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

3.322.000,-

Income and social tax liabilities

1.700.000,-

Total operating income/revenue

28.152.000,-

Main revenue (sales/turnover)

28.012.000,-

Total operating expenses

5.784.000,-

Cost of materials (type of expenditure format)

-12.213.000,-

Personnel costs

8.447.000,-

Depreciation

154.000,-

Operating profit or loss

1.554.000,-

Financial income

21.000,-

Financial expenses

130.000,-

Result of ordinary operations

1.445.000,-

Extraordinary income

0,-

Extraordinary expenses

800.000,-

Pre-tax and pre-appropriation profit or loss

645.000,-

Taxes

190.000,-

Net profit or loss

455.000,-

Borrowing ratio

811,5 %

Current ratio

100,2 %

Debt gearing

37,59 %

Profit margin.

5,62 %

Quick ratio

16,4 %

Return on assets

14,82 %

Return on equity.

122,87 %

Solidity or equity ratio

11,06 %

Change in turnover %

2,-

Turnover per person:

55.250,-

Operating margin

6,-

Trading profit %

6,-

Return on investment %

58,-

Return on capital %

15,-

Quick ratio

0,-

Current ratio

1,-

Equity ratio

11,-

Working capital %

19,-

Inventories/turnover %

27,-

Accounts receivable turnover in days

4,-

Accounts payable turnover in days

75,-

 

Turnover for the period: 01 September 2005 - 31 August 2006  in  EUR 28.315.306,00

 Not consolidated profit and loss turnover of the business: 

 

Turnover for the period: 01 September 2004 - 31 August 2005  in  EUR 28.397.990,00

 Not consolidated profit and loss turnover of the business: 

 

Turnover for the period: 01 September 2003 - 31 August 2004  in  EUR 28.012.000,00

 Not consolidated profit and loss turnover of the business: 

 

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

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