MIRA INFORM REPORT

 

 

Report Date :

09.02.2008

 

IDENTIFICATION DETAILS

 

Name :

GS-HYDRO OY

 

 

Registered Office :

LAUTATARHANKATU 4 13110 H!EMEENLINNA

 

 

Country :

Finland

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

01.10.1998

 

 

Com. Reg. No.:

14940757

 

 

Legal Form :

Private Joint-Stock Company

 

 

Line of Business :

Manufacture of Metal Structures and Parts of Structures

 

 

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 900000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

GS-HYDRO OY

LAUTATARHANKATU 4

13110 H!EMEENLINNA FI

Tel. Number +358-3-65641

Fax number +358-3-6532768

Web-address WWW.GSHYDRO.COM

 

 

 

 

Business founded

01 October 1998

Business registered

30 October 1998 - Private joint-stock company

Tax number :,

14940757,

Registration number,

14940757,

Brand name,

ARCORUS,

Registration address,

LAUTATARHANKATU 4, H!EMEENLINNA, 13110, FI

Visiting address,

LAUTATARHANKATU 4, H!EMEENLINNA, 13110, FI

Delivery address,

LAUTATARHANKATU 4, H!EMEENLINNA, 13110, FI

Legal form

Private joint-stock company

Activities

Manufacture of metal structures and parts of structures

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 900000 EUR is advised

Employees (Business)

 31

Total share capital30 October 1998

EUR 4528304

Management

R!ONNHOLM THOMAS ULF RUNAR   Managing director

Board members

LINDBLAD LARS ANDERS   Chairman of the board

 

VASSENDEN ELI KARIN   Board member

 

JOHANSSON LEIF JOHNNY   Board member

 

AHLQVIST ROLF EINAR   Board member

 

R!ONNHOLM THOMAS ULF RUNAR   Board member

 

PAUES STAFFAN JOHAN TEODOR   Board member

 

ANIANSSON ANNA TORGERD MAGDALENA   Board member

(Part-) Owner

RATOS AB, RUOTSI   100,0 %   

Auditor

SOHLMAN MARKKU TAPIO   Auditor

 

KPMG OY AB   Auditor

Bank

NORDEA PANKKI SUOMI OYJ,    

Subsidiary company.

18810386   GS-HYDRO FINLAND OY,LAUTATARHANKATU 4,13110,H!EMEENLINNA,FI   100,0 %   

 

GS-HYDRO NORGE AS, NORJA   100,0 %   

 

GS-HYDRO AB, RUOTSI   100,0 %   

 

GS-HYDRO SYSTEM GMBH, SAKSA   100,0 %   

 

GS-HYDRO SP. ZO. O., PUOLA   100,0 %   

 

GS-HYDRO KOREA LTD., KOREA   100,0 %   

 

GS-HYDRO PIPING SYSTEMS (SHANGHAI) CHINA CO.LTD   100,0 %   

 

GS-HYDRO U.K. LTD., ISO-BRITANNIA   100,0 %   

 

RTG REICHELT GMBH, PASCHING, IT!EVALTA   100,0 %   

 

GS-HYDRO DANMARK AS, TANSKA   100,0 %   

 

GS-HYDRO U. S. INC, YHDYSVALLAT   100,0 %   

 

GS-HYDRO BENELUX B.V., ALANKOMAAT   100,0 %   

 

GS-HYDRO S. A., ESPANJA   98,0 %   

 

 

 

 

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 30 October 1998

all debentures and debenture mortgages taken out.  9082148 Total debentures / debenture mortgages

 

Corporate balance sheet/profit and loss account for the year: 01 January 2006 - 31 December 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

43.787.203,-

Total fixed assets

19.514.053,-

Total intangible fixed assets

73.000,-

Concessions and industrial rights, goodwill

10.178.000,-

Total tangible fixed assets

379.000,-

Plant, machinery and equipment

379.000,-

Total financial fixed assets

8.884.053,-

Investments (long-term)

8.884.053,-

Total Current assets

24.272.805,-

Inventories and work in progress (incl. prepayments)

3.918.000,-

Accounts receivable (trade)

2.175.011,-

Receivables from affiliates and companies in which participations are held

17.213.000,-

Cash in hand and at bank

966.794,-

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

43.787.203,-

Total equity (Shareholders' funds)

12.053.091,-

Issued (subscribed) capital

4.528.304,-

Share premium account (capital reserve)

6.325.068,-

Capital reserve

6.325.068,-

Statutory reserves

0,-

Profit or loss for the previous year

683.781,-

Profit or loss for the financial year

515.938,-

Total liabilities

31.733.715,-

Total long-term liabilities

961.715,-

Long-term liabilities to credit institutions

961.715,-

Total current liabilities

30.772.000,-

Current accounts payable (trade)

1.000,-

Current liabilities to credit institutions

24.976.000,-

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

5.330.000,-

Income and social tax liabilities

465.000,-

Total operating income/revenue

18.851.709,-

Main revenue (sales/turnover)

16.257.501,-

Total operating expenses

3.039.286,-

Cost of materials (type of expenditure format)

-8.543.118,-

Personnel costs

1.887.000,-

Depreciation

1.163.746,-

Operating profit or loss

4.218.660,-

Financial income

802.000,-

Financial expenses

1.434.000,-

Result of ordinary operations

3.586.428,-

Extraordinary expenses

3.051.000,-

Pre-tax and pre-appropriation profit or loss

535.428,-

Appropriations

2.156,-

Taxes

21.656,-

Net profit or loss

515.938,-

Borrowing ratio

1760,94 %

Current ratio

39,71 %

Debt gearing

7,98 %

Profit margin.

30,88 %

Quick ratio

26,98 %

Return on assets

11,47 %

Return on equity.

29,76 %

Solidity or equity ratio

27,53 %

Change in turnover %

44,-

Turnover per person:

524.436,-

Operating margin

30,-

Trading profit %

23,-

Return on investment %

15,-

Return on capital %

13,-

Quick ratio

0,-

Current ratio

0,-

Equity ratio

28,-

Working capital %

27,-

Inventories/turnover %

24,-

Accounts receivable turnover in days

40,-

Accounts payable turnover in days

58,-

 

Corporate balance sheet/profit and loss account for the year: 01 January 2005 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

35.067.420,-

Total fixed assets

16.641.274,-

Total intangible fixed assets

100.000,-

Concessions and industrial rights, goodwill

11.047.781,-

Total tangible fixed assets

496.493,-

Plant, machinery and equipment

496.493,-

Total financial fixed assets

4.997.000,-

Investments (long-term)

4.997.000,-

Total Current assets

18.426.125,-

Inventories and work in progress (incl. prepayments)

3.301.000,-

Accounts receivable (trade)

1.655.011,-

Receivables from affiliates and companies in which participations are held

13.465.620,-

Cash in hand and at bank

4.494,-

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

35.067.420,-

Total equity (Shareholders' funds)

11.539.310,-

Issued (subscribed) capital

4.528.304,-

Share premium account (capital reserve)

6.325.068,-

Capital reserve

6.325.068,-

Statutory reserves

2.156,-

Profit or loss for the previous year

1.080.030,-

Profit or loss for the financial year

-396.248,-

Total liabilities

23.528.089,-

Total long-term liabilities

3.589.089,-

Long-term liabilities to credit institutions

3.589.089,-

Total current liabilities

19.939.000,-

Current liabilities to credit institutions

17.193.000,-

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

2.211.000,-

Income and social tax liabilities

535.000,-

Total operating income/revenue

13.334.851,-

Main revenue (sales/turnover)

11.267.755,-

Total operating expenses

3.062.869,-

Cost of materials (type of expenditure format)

-5.776.855,-

Personnel costs

2.196.000,-

Depreciation

1.186.810,-

Operating profit or loss

1.111.892,-

Financial income

1.272.500,-

Financial expenses

872.000,-

Result of ordinary operations

1.512.774,-

Extraordinary expenses

1.943.775,-

Pre-tax and pre-appropriation profit or loss

-431.000,-

Appropriations

52.088,-

Taxes

-11.497,-

Net profit or loss

-396.248,-

Borrowing ratio

6009,28 %

Current ratio

42,24 %

Debt gearing

31,1 %

Profit margin.

21,16 %

Quick ratio

25,68 %

Return on assets

6,8 %

Return on equity.

13,11 %

Solidity or equity ratio

32,91 %

Change in turnover %

599,-

Turnover per person:

256.085,-

Operating margin

17,-

Trading profit %

8,-

Return on investment %

8,-

Return on capital %

7,-

Quick ratio

0,-

Current ratio

0,-

Equity ratio

33,-

Working capital %

35,-

Inventories/turnover %

29,-

Accounts receivable turnover in days

37,-

Accounts payable turnover in days

32,-

 

Corporate balance sheet/profit and loss account for the year: 01 January 2004 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

30.653.383,-

Total fixed assets

15.453.154,-

Total intangible fixed assets

129.000,-

Concessions and industrial rights, goodwill

11.862.154,-

Total tangible fixed assets

641.000,-

Plant, machinery and equipment

641.000,-

Total financial fixed assets

2.821.000,-

Investments (long-term)

2.821.000,-

Total Current assets

15.200.051,-

Inventories and work in progress (incl. prepayments)

3.140.000,-

Accounts receivable (trade)

1.608.735,-

Receivables from affiliates and companies in which participations are held

10.447.000,-

Cash in hand and at bank

4.316,-

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

30.653.383,-

Total equity (Shareholders' funds)

11.987.646,-

Issued (subscribed) capital

4.528.304,-

Share premium account (capital reserve)

6.325.068,-

Capital reserve

6.325.068,-

Statutory reserves

54.244,-

Profit or loss for the previous year

1.626.291,-

Profit or loss for the financial year

-546.261,-

Total liabilities

18.665.814,-

Total long-term liabilities

3.300.814,-

Long-term liabilities to credit institutions

3.300.814,-

Total current liabilities

15.365.000,-

Current liabilities to credit institutions

13.793.000,-

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

1.227.000,-

Income and social tax liabilities

345.000,-

Total operating income/revenue

1.652.467,-

Main revenue (sales/turnover)

1.612.625,-

Total operating expenses

1.649.403,-

Personnel costs

626.000,-

Depreciation

869.792,-

Operating profit or loss

-1.492.783,-

Financial income

1.056.000,-

Financial expenses

535.000,-

Result of ordinary operations

-972.277,-

Extraordinary income

420.451,-

Pre-tax and pre-appropriation profit or loss

-551.826,-

Appropriations

7.380,-

Taxes

1.815,-

Net profit or loss

-546.261,-

Borrowing ratio

-532092,76 %

Current ratio

40,07 %

Debt gearing

27,54 %

Profit margin.

-27,08 %

Quick ratio

19,64 %

Return on assets

-1,42 %

Return on equity.

-8,11 %

Solidity or equity ratio

39,11 %

Change in turnover %

90,-

Turnover per person:

161.263,-

Operating margin

-38,-

Trading profit %

-90,-

Return on investment %

-1,-

Return on capital %

-1,-

Quick ratio

0,-

Current ratio

0,-

Equity ratio

39,-

Working capital %

220,-

Inventories/turnover %

195,-

Accounts receivable turnover in days

217,-

 

Turnover for the period: 01 January 2006 - 31 December 2006  in  EUR 16.257.501,00

 Not consolidated profit and loss turnover of the business: 

 

Turnover for the period: 01 January 2005 - 31 December 2005  in  EUR 11.267.755,00

 Not consolidated profit and loss turnover of the business: 

 

Turnover for the period: 01 January 2004 - 31 December 2004  in  EUR 1.612.625,00

 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