MIRA INFORM REPORT

 

 

Report Date :

29.12.2008

 

IDENTIFICATION DETAILS

 

Name :

A.T.KAUBANDUS LTD

 

 

Formerly Known as :

FRIENDS INTERNATIONAL AS

 

 

Registered Office :

Narva mnt 7 10117 TALLINN

 

 

Country :

Estonia

 

 

Financials (as on) :

2007

 

 

Year of Establishment :

1997

 

 

Com. Reg. No.:

10240705

 

 

Legal Form :

Public Joint-Stock Company

 

 

Line of Business :

Wholesale Trade, except of motor vehicles and motorcycles

 

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 :

EUR 75.000,00

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

name of the company

 

 

International Name: A.T.Kaubandus Ltd
A.T.KAUBANDUS AKTSIASELTS


Former company names
Friends International AS, valid since 27.05.2008 valid until 04.06.2008
A.T.Kaubandus AS, valid since 13.06.2007 valid until 27.05.2008

Principal Address

 

Narva mnt 7
10117 TALLINN
Estonia
Tel: +372-6109313, +372-5025399
Fax: +372-6302392
Email: info@atkaubandus.ee
Internet: www.atkaubandus.ee

Registered office:
Narva mnt 7
10117 TALLINN
Estonia
Tel: +372-6109313
Fax: +372-6302392
Email: info@atkaubandus.ee

 

                                
Former company addresses
Former Registered office:
Betooni 9
51014 TARTU
Estonia

 

registered data

 

ICON number: 81134790
National ID: 10240705
VAT number: EE100026719
Contact with company: contacted successfully

 

 

 

 

CREDIT INFORMATION SUMMARY

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding.

 

 

Maximum Credit:

EUR 75.000,00

 

 

 

 

Payment Practices:

Payments are made according to terms

 

 

Debt Collection:

There is no record of any debt collection against this company exceeding a single case volume of EUR 500.

 

 

 

COMPANY DETAILS

 

 

 

Established:

1997

 

 

Registration:

No. 10240705
13.06.2007
Harju Country Court, Estonia

 

 

Former Registration:

No. 24054644
14.07.1997
Tartu Country Court, Estonia

 

 

Legal Form:

13.06.2007
Public Joint-Stock Company

 

 

Capital:

Nominal capital:

 

EEK 650.000,00

since 01.10.1999

 

 

Shareholders:

Full Name

Function

Address

Equity capital

Friends International OU
Registration: No. 10270485, Estonia

Shareholder

 

93,00%

Minority shareholders
Registration: Estonia

Shareholder

 

7,00%

 

 

Management:

Full Name

Function

Address

BERGMANN Mai
Nationality: EE

Member of the executive board (signature right)

 

KIVISTIK Alo
Nationality: EE

Member of the supervisory board

 

KIVISTIK Ingrid
Nationality: EE

Member of the supervisory board

 

STEINBERG Epp
Nationality: EE

Member of the supervisory board

 

 

 

Related Companies:

subsidiary
Friends SIA , Latvia

 

 

 

KEY DATA ON OPERATIONS

 

 

 

Subject of Operation:

NACE
  4600 Wholesale trade, except of motor vehicles and motorcycles


* Wholesale of household consumer goods

NACE codes given are based on the most recent NACE Revision 2.

 

 

 

 

Key Data:

Amounts shown in Estonian krona (EEK)

 

2007

2006

2005

2004

Sales revenue

60.893.681

49.471.933

38.703.290

34.268.335

Total non-current assets

3.397.998

1.925.771

1.283.449

1.407.355

TOTAL EQUITY

10.735.015

6.442.745

4.844.143

4.603.812

Liabilities

14.704.653

19.935.162

12.929.796

7.707.090

Profit after taxation

4.292.270

2.490.008

1.640.332

2.406.318

Operating result - profit

4.630.836

2.844.374

2.153.557

2.836.496

 

 

 

Workforce:

 

2007

2006

2005

2004

Total workforce

19

18

17

16

 

 

 

Exports:

 

Latvia


15% of net sales in 2007.

 


 

 

FINANCIAL INFORMATION

 

 

 

Financials:

Amounts shown in Estonian krona (EEK) 

2007

2006

2005

2004

 



BALANCE SHEET

 

ASSETS

 

Current assets

 

Cash at bank and in hand

288.357,00

652.416,00

108.838,00

92.480,00

 

Short-term receivables

8.815.076,00

8.342.981,00

 

 

 

Inventories

12.938.237,00

15.456.738,00

9.734.400,00

6.109.783,00

 

TOTAL CURRENT ASSETS

22.041.670,00

24.452.135,00

16.490.490,00

10.903.547,00

 



Non-current assets

 

Long-term financial investments

108.594,00

108.594,00

 

 

 

Fixed assets

3.004.460,00

1.728.597,00

1.160.423,00

833.819,00

 

Intangible assets

284.944,00

88.580,00

 

 

 

TOTAL NON-CURRENT ASSETS

3.397.998,00

1.925.771,00

1.283.449,00

1.407.355,00

 

TOTAL ASSETS

25.439.668,00

26.377.907,00

17.773.939,00

12.310.902,00

 



LIABILITIES AND EQUITY

 

Current liabilities

 

Short-term loans and notes

5.603.043,00

9.899.865,00

 

 

 

Debts and prepayments

8.110.566,00

8.945.595,00

 

 

 

TOTAL CURRENT LIABILITIES

13.713.609,00

18.845.461,00

12.509.671,00

7.425.019,00

 



Non-current liabilities

 

TOTAL NON-CURRENT LIABILITIES

991.044,00

1.089.701,00

420.125,00

282.071,00

 

TOTAL LIABILITIES

14.704.653,00

19.935.162,00

12.929.796,00

7.707.090,00

 



EQUITY

 

Share capital

650.000,00

650.000,00

650.000,00

650.000,00

 

Statutory reserve

135.551,00

135.551,00

 

 

 

Retained earnings (loss) of past years

5.657.194,00

3.167.186,00

 

 

 

Net profit (loss) for the current year

10.735.015,00

2.490.008,00

 

 

 

TOTAL EQUITY

10.735.015,00

6.442.745,00

4.844.143,00

4.603.812,00

 

TOTAL LIABILITIES AND OWNERS' EQUITY

25.439.668,00

26.377.904,00

17.773.939,00

12.310.902,00

 



Income statement /scheme 2/

 

Sales revenue

60.893.681,00

49.471.933,00

38.703.290,00

34.268.335,00

 

Cost of sales (goods, services)

-43.831.020,00

-36.767.234,00

28.662.999,00

24.300.625,00

 

Gross profit

17.062.661,00

12.704.234,00

 

 

 

Sales expenses

9.201.527,00

7.130.180,00

 

 

 

Administrative expenses

2.809.890,00

2.349.898,00

 

 

 

Other income

279.835,00

206.720,00

 

 

 

Other expenses

800.243,00

568.967,00

 

 

 

Operating profit (-loss)

4.630.836,00

2.844.374,00

2.153.557,00

2.836.496,00

 

Total financial income and expenses

-338.565,00

-77.811,00

 

 

 

Profit (loss) from ordinary activities

4.292.270,00

2.766.563,00

 

 

 

Profit (loss) before income tax

4.292.270,00

2.766.563,00

1.671.633,00

2.669.832,00

 

Income tax expense

 

-276.555,00

 

 

 

Net profit (loss) for financial year

4.292.270,00

2.490.008,00

1.640.332,00

2.406.318,00

 

 

 

Approximate Exchange Rates:

2007: 15,6466 EEK = 1 EUR
2006: 15,6466 EEK = 1 EUR
2005: 15,6466 EEK = 1 EUR
2004: 15,6466 EEK = 1 EUR
2003: 15,6466 EEK = 1 EUR
2007: 10,6382 EEK = 1 USD
2006: 11,8818 EEK = 1 USD
2005: 13,2206 EEK = 1 USD
2004: 11,4711 EEK = 1 USD
2003: 12,4096 EEK = 1 USD

 

 

 

 

Financial data source:


Date: 2007
Financials have been audited
Auditor: Tiina Maalinn

 

 

Bankers:

HANSABANK

 

 

 

Ratios:

 

2007

2006

2005

2004

Current ratio
(Short term assets / Short term liabilities)

1,61

1,30

1,32

1,47

Quick ratio
[(Short term assets - Inventory) / Short term liabilities]

0,66

0,48

0,54

0,65

Return on equity (ROE), in %
(Profit after taxation / Equity capital)*100

39,98

38,65

33,86

52,27

Return on sales ( ROS ), in%
(Profit after taxation / Sales)*100

7,05

5,03

4,24

7,02

Return on assets ( ROA ), in%
(Profit after taxation / Total assets)*100

16,87

9,44

9,23

19,55

Net working capital
Current assets - Short term liabilities

8.328.061

5.606.674

3.980.819

3.478.528

Debt-to-equity ratio
Amounts payable and liabilities / Equity

1,37

3,09

2,67

1,67

Debt Ratio
(Short term liabilities + Long term liabilities) / Total Assets

0,58

0,76

0,73

0,63

Leverage
Equity / Total assets

0,42

0,24

0,27

0,37

Sales to Total assets
Turnover / Total Assets

2,39

1,88

2,18

2,78

Current assets turnover, %
Turnover / Current assets * 100

2,76

2,02

2,35

3,14

 

 

ADDITIONAL INFORMATION

 

 

 

Commercial Pledges:

1 holder of pledge: AS Hansapank
hypothecary value: 8 100 000 EEK
since: 13.06.2007.

2 holder of pledge: AS Hansapank
hypothecary value: 3 000 000 EEK
since: 13.06.2007.

3 holder of pledge: AS Hansapank
hypothecary value: 1 000 000 EEK
since: 13.06.2007.

4 holder of pledge: AS Hansapank
hypothecary value: 2 500 000 EEK
since: 22.10.2008.

 

 

 

 

 

 

 

 

 

 

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.47.89

UK Pound

1

Rs.70.84

Euro

1

Rs.67.37

 

 

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