MIRA INFORM REPORT

 

 

Report Date :

13.02.2008

 

IDENTIFICATION DETAILS

 

Name :

TUVAN-STANGSEL AB

 

 

Registered Office :

Hedvigsdalsvagen 115, 276 46 Loderu

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

01.09.1990

 

 

Com. Reg. No.:

5564068954

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Producer and Distributor of Fences and Gates

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

name & address

 

TUVAN-stängsel AB
Hedvigsdalsvägen 115
276 46 LÖDERUP

Tel. Number +46-411-558970

 

 

Business registered

01 September 1990 - Private limited company (no information regarding quotation)

Registration number,

5564068954,

Tax number :,

SE556406895401,

Legal form

Private limited company (no information regarding quotation)

Activities

No Match!

Credit opinion

Credit opinion

Employees (Business)

 27

Petition for injunction to pay.00 June 2007

 2768

Party that has summoned the company to pay a debt.

GL STENGSEL AB

Injunctions (total number),

 1

Injunctions (total amount),

 2768

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

 1

Total share capital

SEK 100000

Board members

GERARDUS JOHANNES COR VAN SCHIJNDEL   Boardmember

 

EGBERT HENDRIKUS HOFSTE SCHELHAAS   Deputy board member

Auditor

ERNST & YOUNG AB   Auditor

Management

MARTINUS JOHANNES MARLA MEULENDIJKS   Managing director

Ultimate parent company:

5566922885   HEDVIGSDAL HOLDING AB   

Parent company :

5566493945   HEDVIGSDALS MASKIN AB   100 %   

 

 

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 May 2006

All debentures and debenture mortgages taken out.  10000000 

 

Corporate balance sheet for the year: 01 January 2006 - 31 December 2006  in  SEK 

Plant, machinery and equipment

946.000,-

Total tangible fixed assets

946.000,-

Total financial fixed assets

85.000,-

Total fixed assets

1.031.000,-

Inventories and work in progress (incl. prepayments)

15.993.000,-

Accounts receivable (trade)

13.543.000,-

Cash in hand and at bank

4.868.000,-

Total Current assets

35.953.000,-

Total assets incl. prepaid expenses and accrued income

36.984.000,-

Issued (subscribed) capital

100.000,-

Statutory reserves

20.000,-

Profit or loss carried forward

4.304.000,-

Profit or loss for the financial year

6.902.000,-

Total equity (Shareholders' funds)

11.326.000,-

Current accounts payable (trade)

5.289.000,-

Total current liabilities

14.251.000,-

Total liabilities

14.251.000,-

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

36.984.000,-

Number of employees

27,-

Salaries board/Managing Director

1.176.000,-

Salaries to others

9.417.000,-

Total salaries

10.593.000,-

Total salaries and remunerations

10.593.000,-

Social security expenses

4.090.000,-

Dividend

6.500.000,-

Depreciation

541.000,-

Bank overdraft granted

10.000.000,-

Floating charges

10.000.000,-

Total pledged assets

10.000.000,-

Equity/assets ratio

52,-

Acid-test ratio

140,-

Return on assets

33,-

Cash flow as percentage of total liabilities

71,-

Debt/equity ratio

92,-

Current ratio

252,-

Return on equity

64,-

Interest coverage ratio

77,-

Inventory turnover rate (times/year)

4,-

Risk buffer

33,-

Labour costs as percentage of turnover

-13,-

Capital turnover rate (times/year)

2,-

Working capital as percentage of turnover

28,-

Accounts receivable as percentage of turnover

17,-

Inventory as percentage of turnover

20,-

Current liabilities as percentage of turnover

18,-

Credit period granted

47,-

Turnover per employee in SEK thousands

2.845.000,-

Cash flow as percentage of financial expenses

6.349,-

Solvency margin

61,-

Structure of financial fixed assets

8,-

Tangible fixed assets structure

91,-

Credit period received

19,-

Gross margin

16,-

Operating margin

16,-

Net margin

16,-

 

Corporate balance sheet for the year: 01 January 2005 - 31 December 2005  in  SEK 

Land and buildings

1.494.000,-

Plant, machinery and equipment

935.000,-

Total tangible fixed assets

2.429.000,-

Total fixed assets

2.429.000,-

Inventories and work in progress (incl. prepayments)

559.000,-

Accounts receivable (trade)

15.953.000,-

Receivables from affiliates and companies in which participations are held

939.000,-

Cash in hand and at bank

2.683.000,-

Total Current assets

33.005.000,-

Total assets incl. prepaid expenses and accrued income

35.434.000,-

Issued (subscribed) capital

100.000,-

Statutory reserves

20.000,-

Profit or loss carried forward

4.314.000,-

Profit or loss for the financial year

6.989.000,-

Total equity (Shareholders' funds)

11.423.000,-

Long-term liabilities to credit institutions

960.000,-

Total long-term liabilities

960.000,-

Current liabilities to credit institutions

80.000,-

Current accounts payable (trade)

6.520.000,-

Total current liabilities

14.424.000,-

Total liabilities

15.384.000,-

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

35.434.000,-

Number of employees

21,-

Salaries board/Managing Director

1.167.000,-

Salaries to others

6.436.000,-

Total salaries

7.603.000,-

Total salaries and remunerations

7.603.000,-

Social security expenses

3.518.000,-

Dividend

7.000.000,-

Depreciation

559.000,-

Bank overdraft granted

8.000.000,-

Floating charges

8.000.000,-

Property mortgages

750.000,-

Total pledged assets

8.750.000,-

Other contingent liabilities

478.000,-

Total contingent liabilities.

478.000,-

Equity/assets ratio

49,-

Acid-test ratio

135,-

Return on assets

36,-

Cash flow as percentage of total liabilities

67,-

Debt/equity ratio

103,-

Current ratio

228,-

Return on equity

72,-

Interest coverage ratio

76,-

Inventory turnover rate (times/year)

5,-

Risk buffer

35,-

Labour costs as percentage of turnover

-10,-

Capital turnover rate (times/year)

2,-

Working capital as percentage of turnover

26,-

Accounts receivable as percentage of turnover

22,-

Inventory as percentage of turnover

18,-

Current liabilities as percentage of turnover

20,-

Credit period granted

44,-

Turnover per employee in SEK thousands

3.388.000,-

Cash flow as percentage of financial expenses

6.148,-

Solvency margin

56,-

Tangible fixed assets structure

100,-

Risk ratio

4,-

Credit period received

18,-

Gross margin

18,-

Operating margin

17,-

Net margin

17,-

 

Corporate balance sheet for the year: 01 January 2004 - 31 December 2004  in  SEK 

Land and buildings

1.548.000,-

Plant, machinery and equipment

867.000,-

Total tangible fixed assets

2.415.000,-

Loans, shares and participations

290.000,-

Total financial fixed assets

290.000,-

Total fixed assets

2.705.000,-

Inventories and work in progress (incl. prepayments)

108.000,-

Accounts receivable (trade)

9.251.000,-

Receivables from affiliates and companies in which participations are held

994.000,-

Cash in hand and at bank

5.126.000,-

Total Current assets

25.176.000,-

Total assets incl. prepaid expenses and accrued income

27.881.000,-

Issued (subscribed) capital

100.000,-

Statutory reserves

20.000,-

Profit or loss carried forward

4.146.000,-

Profit or loss for the financial year

7.390.000,-

Total equity (Shareholders' funds)

11.656.000,-

Long-term liabilities to credit institutions

1.280.000,-

Total long-term liabilities

1.280.000,-

Current liabilities to credit institutions

80.000,-

Current accounts payable (trade)

3.919.000,-

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

88.000,-

Total current liabilities

9.161.000,-

Total liabilities

10.441.000,-

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

27.881.000,-

Number of employees

16,-

Salaries board/Managing Director

852.000,-

Salaries to others

4.377.000,-

Total salaries

5.229.000,-

Total salaries and remunerations

5.229.000,-

Social security expenses

2.631.000,-

Dividend

7.000.000,-

Depreciation

599.000,-

Bank overdraft granted

5.000.000,-

Floating charges

6.100.000,-

Property mortgages

750.000,-

Total pledged assets

6.850.000,-

Other contingent liabilities

442.000,-

Total contingent liabilities.

442.000,-

Equity/assets ratio

56,-

Acid-test ratio

173,-

Return on assets

46,-

Average interest on debt

-1,-

Cash flow as percentage of total liabilities

103,-

Debt/equity ratio

78,-

Current ratio

274,-

Return on equity

81,-

Interest coverage ratio

77,-

Inventory turnover rate (times/year)

6,-

Risk buffer

45,-

Labour costs as percentage of turnover

-8,-

Capital turnover rate (times/year)

2,-

Working capital as percentage of turnover

26,-

Accounts receivable as percentage of turnover

15,-

Inventory as percentage of turnover

15,-

Current liabilities as percentage of turnover

15,-

Credit period granted

32,-

Turnover per employee in SEK thousands

3.763.000,-

Cash flow as percentage of financial expenses

6.390,-

Solvency margin

62,-

Structure of financial fixed assets

10,-

Tangible fixed assets structure

89,-

Risk ratio

3,-

Credit period received

16,-

Gross margin

22,-

Operating margin

21,-

Net margin

21,-

 

Corporate profit and loss account for the year: 01 January 2006 - 31 December 2006  in  SEK 

Main revenue (sales/turnover)

76.822.000,-

Total operating income/revenue

76.822.000,-

Cost of materials (type of expenditure format)

-39.681.000,-

Personnel costs

-14.793.000,-

Depreciation

-541.000,-

Total operating expenses

-64.365.000,-

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

37.141.000,-

Operating profit or loss

12.457.000,-

Financial income

90.000,-

Financial expenses

-161.000,-

Result of ordinary operations

12.386.000,-

Pre-tax and pre-appropriation profit or loss

12.386.000,-

Appropriations

-2.779.000,-

Taxes

-2.705.000,-

Net profit or loss

6.902.000,-

 

Corporate profit and loss account for the year: 01 January 2005 - 31 December 2005  in  SEK 

Main revenue (sales/turnover)

71.148.000,-

Total operating income/revenue

71.156.000,-

Cost of materials (type of expenditure format)

-39.094.000,-

Personnel costs

-11.286.000,-

Depreciation

-559.000,-

Total operating expenses

-58.362.000,-

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

32.054.000,-

Operating profit or loss

12.794.000,-

Financial income

50.000,-

Financial expenses

-169.000,-

Result of ordinary operations

12.675.000,-

Pre-tax and pre-appropriation profit or loss

12.675.000,-

Appropriations

-2.843.000,-

Taxes

-2.843.000,-

Net profit or loss

6.989.000,-

 

Corporate profit and loss account for the year: 01 January 2004 - 31 December 2004  in  SEK 

Main revenue (sales/turnover)

60.161.000,-

Total operating income/revenue

60.208.000,-

Cost of materials (type of expenditure format)

-32.839.000,-

Personnel costs

-7.313.000,-

Depreciation

-599.000,-

Total operating expenses

-47.225.000,-

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

27.322.000,-

Operating profit or loss

12.983.000,-

Financial income

56.000,-

Financial expenses

-169.000,-

Result of ordinary operations

12.870.000,-

Pre-tax and pre-appropriation profit or loss

12.870.000,-

Appropriations

-2.811.000,-

Taxes

-2.669.000,-

Net profit or loss

7.390.000,-

 

Turnover for the period: 01 January 2006 - 31 December 2006  in  SEK 76.822.000,00

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

 

Turnover for the period: 01 January 2005 - 31 December 2005  in  SEK 71.156.000,00

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

 

Turnover for the period: 01 January 2004 - 31 December 2004  in  SEK 60.208.000,00

 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