MIRA INFORM REPORT

 

 

Report Date :

11.02.2008

 

IDENTIFICATION DETAILS

 

Name :

H & M HENNES & MAURITZ AB

 

 

Registered Office :

10638 Stockholm 

 

 

Country :

Sweden

 

 

Financials (as on) :

30.11.2006

 

 

Date of Incorporation :

07.08.1943

 

 

Com. Reg. No.:

5560427220

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Trade in Fashion Clothing.

 

 

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 :

SEK 10000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

name & address

 

H & M HENNES & MAURITZ AB

10638 STOCKHOLM SE

Tel. Number +46-8-7965500

 

 

 

Business registered

07 August 1943 - Public limited company (no information regarding quotation)

Registration number,

5560427220,

Tax number :,

SE556042722001,

Legal form

Public limited company (no information regarding quotation)

Activities

Trade in fashion clothing.

 

 

Credit opinion

High creditworthiness

 

Maximum credit limit 10000000 SEK is advised

Employees (Business)

  500 999

Injunction to pay. The court/authorities has passed a judgement on the00 August 2007

 4043

L4:C

CA MEDIA I STHLM AB

Petition for injunction to pay.00 November 2006

 15977

L4:E

DEN SPRINGS SWEDEN AB

Petition for injunction to pay.00 November 2006

 22061

L4:E

DEN SPRINGS SWEDEN AB

Petition for injunction to pay.00 November 2006

 15878

L4:E

DEN SPRINGS SWEDEN AB

Judgements (total number)

 1

Judgements (total amount)

 4043

Injunctions (total number),

 3

Injunctions (total amount),

 53916

Total number of judgements, injunctions, claims, etc. (”weak negative facts”)

 4

Total share capital

SEK 206884000

Board members

JOHN SAM STIG NORDFELT   Board member

 

BO LUNDQUIST   Board member

 

FRED ANDERSSON   Board member

 

MELKER SCH!ORLING   Board member

 

   Board member

 

SUSSI KVART   Board member

 

LOTTIE KNUTSON   Board member

 

KARL-JOHAN ERLING G!ORAN PERSSON   Board member

 

MARIANNE NORIN BROMAN   Employer representative

 

MARGARETA WELINDER   Employer representative

 

ELLA AGNETA RAMBERG   Deputy employer representative

 

TINA J!EDERBERG   Deputy employer representative

Auditor

JOHN ERIK !ASTR!OM   Auditor

 

!ASA LUNDVALL   Auditor

 

ANDERS WIGER   Deputy auditor

 

TORSTEN LYTH   Deputy auditor

Management

ROLF ERIKSEN   Managing director

Parent company :

5564235769   STEFAN PERSSON PLACERING AB   57 %   

 

 

The style as you provided (H and N Hennes & Naurtts AB) is incorrect; there is no company with this name.

 

 

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 01 January 2007

All property types of the business  70560000  rateable (taxable) value

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 01 January 2007

Warehouse facility  67600000  rateable (taxable) value

One or two-family dwelling  2960000  rateable (taxable) value

 

Corporate balance sheet for the year: 01 December 2005 - 30 November 2006  in  SEK 

Land and buildings

61.000.000,-

Plant, machinery and equipment

458.000.000,-

Total tangible fixed assets

519.000.000,-

Total financial fixed assets

73.000.000,-

Total fixed assets

592.000.000,-

Inventories and work in progress (incl. prepayments)

759.000.000,-

Accounts receivable (trade)

492.000.000,-

Receivables from affiliates and companies in which participations are held

4.991.000.000,-

Investments (short-term)

5.000.000.000,-

Cash in hand and at bank

2.154.000.000,-

Total Current assets

13.458.000.000,-

Total assets incl. prepaid expenses and accrued income

14.050.000.000,-

Issued (subscribed) capital

207.000.000,-

Statutory reserves

88.000.000,-

Profit or loss carried forward

2.898.000.000,-

Profit or loss for the financial year

8.667.000.000,-

Total equity (Shareholders' funds)

11.860.000.000,-

Total provisions

99.000.000,-

Current accounts payable (trade)

1.078.000.000,-

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

23.000.000,-

Total current liabilities

1.842.000.000,-

Total liabilities

1.842.000.000,-

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

14.050.000.000,-

Salaries board/Managing Director

16.000.000,-

Salaries to others

1.216.000.000,-

Total salaries

1.232.000.000,-

Total salaries and remunerations

1.232.000.000,-

Social security expenses

538.000.000,-

Dividend

9.516.664.000,-

Unspecified depreciations

120.000.000,-

Unspecified depreciations of which goods sold

15.000.000,-

Unspecified depreciations of which sell costs

99.000.000,-

Unspecified depreciations of which admin costs

6.000.000,-

Other contingent liabilities

10.966.000.000,-

Total contingent liabilities.

10.966.000.000,-

Equity/assets ratio

85,-

Acid-test ratio

689,-

Return on assets

65,-

Cash flow as percentage of total liabilities

452,-

Debt/equity ratio

17,-

Current ratio

730,-

Return on equity

76,-

Self-financing rate

292.800,-

Inventory turnover rate (times/year)

8,-

Risk buffer

65,-

Labour costs as percentage of turnover

-19,-

Working capital as percentage of turnover

186,-

Accounts receivable as percentage of turnover

7,-

Inventory as percentage of turnover

12,-

Current liabilities as percentage of turnover

29,-

Credit period granted

19,-

Solvency margin

86,-

Structure of financial fixed assets

12,-

Tangible fixed assets structure

87,-

Risk ratio

92,-

Credit period received

33,-

Gross margin

30,-

Operating margin

28,-

Net margin

148,-

 

Corporate balance sheet for the year: 01 December 2004 - 30 November 2005  in  SEK 

Land and buildings

64.800.000,-

Plant, machinery and equipment

457.300.000,-

Total tangible fixed assets

522.100.000,-

Total financial fixed assets

66.900.000,-

Total fixed assets

589.000.000,-

Inventories and work in progress (incl. prepayments)

705.300.000,-

Accounts receivable (trade)

464.600.000,-

Receivables from affiliates and companies in which participations are held

2.080.300.000,-

Investments (short-term)

8.500.000.000,-

Cash in hand and at bank

534.500.000,-

Total Current assets

12.434.900.000,-

Total assets incl. prepaid expenses and accrued income

13.023.900.000,-

Issued (subscribed) capital

206.900.000,-

Statutory reserves

87.800.000,-

Profit or loss carried forward

1.724.500.000,-

Profit or loss for the financial year

9.034.700.000,-

Total equity (Shareholders' funds)

11.053.900.000,-

Total provisions

70.600.000,-

Current accounts payable (trade)

612.400.000,-

Total current liabilities

1.647.300.000,-

Total liabilities

1.647.300.000,-

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

13.023.900.000,-

Number of employees

3.872,-

Salaries board/Managing Director

14.600.000,-

Salaries to others

1.113.000.000,-

Total salaries

1.127.600.000,-

Total salaries and remunerations

1.127.600.000,-

Social security expenses

549.900.000,-

Unspecified depreciations

111.000.000,-

Unspecified depreciations of which goods sold

13.900.000,-

Unspecified depreciations of which sell costs

91.700.000,-

Unspecified depreciations of which admin costs

5.400.000,-

Other contingent liabilities

11.422.600.000,-

Total contingent liabilities.

11.422.600.000,-

Equity/assets ratio

86,-

Acid-test ratio

712,-

Return on assets

67,-

Cash flow as percentage of total liabilities

469,-

Debt/equity ratio

16,-

Current ratio

754,-

Return on equity

77,-

Self-financing rate

45.326,-

Interest coverage ratio

43.668,-

Inventory turnover rate (times/year)

8,-

Risk buffer

67,-

Labour costs as percentage of turnover

-19,-

Working capital as percentage of turnover

190,-

Accounts receivable as percentage of turnover

8,-

Inventory as percentage of turnover

12,-

Current liabilities as percentage of turnover

29,-

Credit period granted

19,-

Turnover per employee in SEK thousands

1.460.000,-

Cash flow as percentage of financial expenses

34.050,-

Solvency margin

86,-

Structure of financial fixed assets

11,-

Tangible fixed assets structure

88,-

Risk ratio

103,-

Credit period received

23,-

Gross margin

27,-

Operating margin

25,-

Net margin

154,-

 

Corporate balance sheet for the year: 01 December 2003 - 30 November 2004  in  SEK 

Land and buildings

67.900.000,-

Plant, machinery and equipment

450.200.000,-

Total tangible fixed assets

518.100.000,-

Loans, shares and participations

8.500.000,-

Total financial fixed assets

53.100.000,-

Total fixed assets

571.200.000,-

Inventories and work in progress (incl. prepayments)

604.600.000,-

Accounts receivable (trade)

411.100.000,-

Receivables from affiliates and companies in which participations are held

3.344.100.000,-

Investments (short-term)

5.670.100.000,-

Cash in hand and at bank

301.400.000,-

Total Current assets

10.435.800.000,-

Total assets incl. prepaid expenses and accrued income

11.007.000.000,-

Issued (subscribed) capital

206.900.000,-

Statutory reserves

87.800.000,-

Profit or loss carried forward

243.900.000,-

Profit or loss for the financial year

8.119.900.000,-

Total equity (Shareholders' funds)

8.658.500.000,-

Total provisions

29.600.000,-

Current accounts payable (trade)

432.100.000,-

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

15.600.000,-

Total current liabilities

989.200.000,-

Total liabilities

989.200.000,-

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

11.007.000.000,-

Number of employees

3.731,-

Salaries board/Managing Director

12.300.000,-

Salaries to others

1.039.100.000,-

Total salaries

1.051.400.000,-

Total salaries and remunerations

1.051.400.000,-

Social security expenses

469.100.000,-

Dividend

6.620.288.000,-

Unspecified depreciations

105.500.000,-

Unspecified depreciations of which goods sold

13.300.000,-

Unspecified depreciations of which sell costs

87.100.000,-

Unspecified depreciations of which admin costs

5.100.000,-

Other contingent liabilities

8.949.100.000,-

Total contingent liabilities.

8.949.100.000,-

Equity/assets ratio

87,-

Acid-test ratio

993,-

Return on assets

78,-

Cash flow as percentage of total liabilities

835,-

Debt/equity ratio

15,-

Current ratio

1.054,-

Return on equity

90,-

Interest coverage ratio

17.386,-

Inventory turnover rate (times/year)

8,-

Risk buffer

78,-

Labour costs as percentage of turnover

-19,-

Working capital as percentage of turnover

176,-

Accounts receivable as percentage of turnover

7,-

Inventory as percentage of turnover

11,-

Current liabilities as percentage of turnover

18,-

Credit period granted

17,-

Turnover per employee in SEK thousands

1.437.000,-

Cash flow as percentage of financial expenses

703.300,-

Solvency margin

90,-

Structure of financial fixed assets

9,-

Tangible fixed assets structure

90,-

Risk ratio

103,-

Credit period received

21,-

Gross margin

22,-

Operating margin

20,-

Net margin

162,-

 

Corporate profit and loss account for the year: 01 December 2005 - 30 November 2006  in  SEK 

Main revenue (sales/turnover)

6.221.000.000,-

Total operating income/revenue

6.221.000.000,-

Cost of materials (type of expenditure format)

-1.432.000.000,-

Total operating expenses

-4.451.000.000,-

Gross profit or loss after cost of materials or after cost of goods sold

4.789.000.000,-

Depreciations

-120.000.000,-

Operating profit or loss

1.770.000.000,-

Receivables from affiliates and companies in which participations are held

7.219.000.000,-

Financial income

7.466.000.000,-

Result of ordinary operations

9.236.000.000,-

Pre-tax and pre-appropriation profit or loss

9.236.000.000,-

Appropriations

3.000.000,-

Taxes

-572.000.000,-

Net profit or loss

8.667.000.000,-

 

Corporate profit and loss account for the year: 01 December 2004 - 30 November 2005  in  SEK 

Main revenue (sales/turnover)

5.653.700.000,-

Total operating income/revenue

5.653.700.000,-

Cost of materials (type of expenditure format)

-1.333.900.000,-

Total operating expenses

-4.204.800.000,-

Gross profit or loss after cost of materials or after cost of goods sold

4.319.800.000,-

Depreciations

-111.000.000,-

Operating profit or loss

1.448.900.000,-

Receivables from affiliates and companies in which participations are held

7.034.600.000,-

Financial income

7.284.800.000,-

Financial expenses

-200.000,-

Result of ordinary operations

8.733.500.000,-

Pre-tax and pre-appropriation profit or loss

8.733.500.000,-

Appropriations

1.077.600.000,-

Taxes

-776.400.000,-

Net profit or loss

9.034.700.000,-

 

Corporate profit and loss account for the year: 01 December 2003 - 30 November 2004  in  SEK 

Main revenue (sales/turnover)

5.362.900.000,-

Total operating income/revenue

5.362.900.000,-

Cost of materials (type of expenditure format)

-1.617.800.000,-

Total operating expenses

-4.267.600.000,-

Gross profit or loss after cost of materials or after cost of goods sold

3.745.100.000,-

Depreciations

-105.500.000,-

Operating profit or loss

1.095.300.000,-

Receivables from affiliates and companies in which participations are held

7.405.800.000,-

Financial income

7.598.000.000,-

Financial expenses

-500.000,-

Result of ordinary operations

8.692.800.000,-

Pre-tax and pre-appropriation profit or loss

8.692.800.000,-

Appropriations

-291.100.000,-

Taxes

-281.800.000,-

Net profit or loss

8.119.900.000,-

 

Turnover for the period: 01 December 2005 - 30 November 2006  in  SEK 6.221.000.000,00

 Not consolidated profit and loss turnover of the business: Figure given by an official source: 

 

Turnover for the period: 01 December 2004 - 30 November 2005  in  SEK 5.653.700.000,00

 Not consolidated profit and loss turnover of the business: Figure given by an official source: 

 

Turnover for the period: 01 December 2003 - 30 November 2004  in  SEK 5.362.900.000,00

 Not consolidated profit and loss turnover of the business: Figure given by an official source: 

 

 

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