MIRA INFORM REPORT

 

 

Report Date :

23.01.2008

 

IDENTIFICATION DETAILS

 

Name :

BULT & FÄSTTEKNIK KUNGÄLV AB

 

 

Registered Office :

Rattgatan 15 44240 Kungälv

 

 

Country :

Sweden

 

 

Financials (as on) :

30.04.2007

 

 

Date of Incorporation :

28.04.2003

 

 

Com. Reg. No.:

5566409263

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of Hardware, Plumbing and Heating equipment and Supplies

 

 

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 :

2000000 SEK

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

name and address of the company

 

Bult & Fastteknik Kungalv AB

 RATTGATAN 15

 44240 Kungälv SE

Tel. Number+46-303-206700

 

Business registered

28 April 2003 - Private limited company (no information regarding quotation)

Registration number,

5566409263,

Tax number :,

SE556640926301,

Legal form

Private limited company (no information regarding quotation)

Activities

Wholesale of hardware, plumbing and heating equipment and supplies

Credit opinion

Normal creditworthiness

 

Maximum credit limit 2000000 SEK is advised

Employees (Business)

 18

Total share capital

SEK 200000

Boardmembers

ANNA SCHEUTZ   Deputy boardmember

Auditor

JOACHIM ANDRE   Auditor

Management

HEIKKI M!E!ETT!E   Managing director

Ultimate parent company:

5567063747   NORDIC FASTENING GROUP HOLDING AB   

Parent company :

5565949608   NORDIC FASTENING GROUP AB   100 %   

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 May 2003

all debentures and debenture mortgages taken out.  4500000 

 

Corporate balance sheet for the year: 01 May 2006 - 30 April 2007  in  SEK 

Plant, machinery and equipment

1.144.000,-

Total tangible fixed assets

1.144.000,-

Total fixed assets

1.144.000,-

Inventories and work in progress (incl. prepayments)

14.402.000,-

Accounts receivable (trade)

6.160.000,-

Cash in hand and at bank

378.000,-

Total Current assets

21.016.000,-

Total assets incl. prepaid expenses and accrued income

22.160.000,-

Issued (subscribed) capital

200.000,-

Statutory reserves

40.000,-

Profit or loss carried forward

1.735.000,-

Profit or loss for the financial year

4.317.000,-

Total equity (Shareholders' funds)

6.292.000,-

Bank overdraft granted of which bank overdraft utilized

868.000,-

Current liabilities to credit institutions

868.000,-

Current accounts payable (trade)

3.494.000,-

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

4.178.000,-

Total current liabilities

12.599.000,-

Total liabilities

12.599.000,-

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

22.160.000,-

Number of employees

18,-

Salaries to others

5.327.000,-

Total salaries

5.327.000,-

Total salaries and remunerations

5.327.000,-

Social security expenses

2.005.000,-

Dividend

2.300.000,-

Depreciation

408.000,-

Bank overdraft granted

3.500.000,-

Floating charges

4.500.000,-

Total pledged assets

4.500.000,-

Other contingent liabilities

40.000,-

Total contingent liabilities.

40.000,-

Equity/assets ratio

38,-

Acid-test ratio

52,-

Return on assets

36,-

Cash flow as percentage of total liabilities

53,-

Debt/equity ratio

158,-

Current ratio

166,-

Return on equity

93,-

Interest coverage ratio

80,-

Inventory turnover rate (times/year)

4,-

Risk buffer

35,-

Labour costs as percentage of turnover

-9,-

Capital turnover rate (times/year)

2,-

Working capital as percentage of turnover

14,-

Accounts receivable as percentage of turnover

10,-

Inventory as percentage of turnover

24,-

Current liabilities as percentage of turnover

21,-

Credit period granted

26,-

Turnover per employee in SEK thousands

3.241.000,-

Cash flow as percentage of financial expenses

6.658,-

Solvency margin

43,-

Tangible fixed assets structure

100,-

Credit period received

14,-

Gross margin

14,-

Operating margin

13,-

Net margin

13,-

 

Corporate balance sheet for the year: 01 May 2005 - 30 April 2006  in  SEK 

Plant, machinery and equipment

1.441.000,-

Total tangible fixed assets

1.441.000,-

Total fixed assets

1.441.000,-

Inventories and work in progress (incl. prepayments)

12.471.000,-

Accounts receivable (trade)

6.161.000,-

Cash in hand and at bank

36.000,-

Total Current assets

18.764.000,-

Total assets incl. prepaid expenses and accrued income

20.205.000,-

Issued (subscribed) capital

200.000,-

Statutory reserves

40.000,-

Profit or loss carried forward

1.006.000,-

Profit or loss for the financial year

728.000,-

Total equity (Shareholders' funds)

1.974.000,-

Long-term liabilities to credit institutions

316.000,-

Bank overdraft granted of which bank overdraft utilized

2.969.000,-

Total long-term liabilities

316.000,-

Current liabilities to credit institutions

2.969.000,-

Current accounts payable (trade)

3.368.000,-

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

7.927.000,-

Total current liabilities

16.646.000,-

Total liabilities

16.962.000,-

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

20.205.000,-

Number of employees

14,-

Salaries to others

4.230.000,-

Total salaries

4.230.000,-

Total salaries and remunerations

4.230.000,-

Social security expenses

1.698.000,-

Depreciation

323.000,-

Bank overdraft granted

3.500.000,-

Floating charges

4.500.000,-

Other pledges

536.000,-

Total pledged assets

5.036.000,-

Other contingent liabilities

40.000,-

Total contingent liabilities.

40.000,-

Equity/assets ratio

14,-

Acid-test ratio

37,-

Return on assets

8,-

Cash flow as percentage of total liabilities

9,-

Debt/equity ratio

606,-

Current ratio

112,-

Return on equity

54,-

Self-financing rate

221,-

Interest coverage ratio

12,-

Inventory turnover rate (times/year)

3,-

Risk buffer

7,-

Labour costs as percentage of turnover

-9,-

Capital turnover rate (times/year)

2,-

Working capital as percentage of turnover

4,-

Accounts receivable as percentage of turnover

13,-

Inventory as percentage of turnover

27,-

Current liabilities as percentage of turnover

36,-

Credit period granted

32,-

Turnover per employee in SEK thousands

3.279.000,-

Cash flow as percentage of financial expenses

1.066,-

Solvency margin

16,-

Tangible fixed assets structure

100,-

Risk ratio

2,-

Credit period received

17,-

Gross margin

4,-

Operating margin

3,-

Net margin

3,-

 

Corporate balance sheet for the year: 01 May 2004 - 30 April 2005  in  SEK 

Plant, machinery and equipment

732.000,-

Total tangible fixed assets

732.000,-

Total fixed assets

732.000,-

Inventories and work in progress (incl. prepayments)

11.311.000,-

Accounts receivable (trade)

5.873.000,-

Cash in hand and at bank

8.000,-

Total Current assets

17.310.000,-

Total assets incl. prepaid expenses and accrued income

18.042.000,-

Issued (subscribed) capital

200.000,-

Statutory reserves

40.000,-

Profit or loss carried forward

148.000,-

Profit or loss for the financial year

858.000,-

Total equity (Shareholders' funds)

1.246.000,-

Bank overdraft granted of which bank overdraft utilized

2.749.000,-

Current liabilities to credit institutions

2.749.000,-

Current accounts payable (trade)

2.968.000,-

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

8.292.000,-

Total current liabilities

16.044.000,-

Total liabilities

16.044.000,-

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

18.042.000,-

Number of employees

12,-

Salaries to others

3.070.000,-

Total salaries

3.070.000,-

Total salaries and remunerations

3.070.000,-

Social security expenses

1.291.000,-

Depreciation

201.000,-

Bank overdraft granted

3.500.000,-

Floating charges

4.500.000,-

Total pledged assets

4.500.000,-

Other contingent liabilities

40.000,-

Total contingent liabilities.

40.000,-

Equity/assets ratio

9,-

Acid-test ratio

37,-

Return on assets

11,-

Average interest on debt

-2,-

Cash flow as percentage of total liabilities

9,-

Debt/equity ratio

918,-

Current ratio

107,-

Return on equity

94,-

Interest coverage ratio

5,-

Inventory turnover rate (times/year)

3,-

Risk buffer

9,-

Labour costs as percentage of turnover

-8,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

3,-

Accounts receivable as percentage of turnover

16,-

Inventory as percentage of turnover

31,-

Current liabilities as percentage of turnover

45,-

Credit period granted

35,-

Turnover per employee in SEK thousands

2.946.000,-

Cash flow as percentage of financial expenses

437,-

Solvency margin

11,-

Tangible fixed assets structure

100,-

Risk ratio

3,-

Credit period received

11,-

Gross margin

6,-

Operating margin

5,-

Net margin

4,-

 

Corporate profit and loss account for the year: 01 May 2006 - 30 April 2007  in  SEK 

Main revenue (sales/turnover)

58.346.000,-

Total operating income/revenue

58.346.000,-

Cost of materials (type of expenditure format)

-36.791.000,-

Inventories and work in progress (incl. prepayments)

-36.791.000,-

Personnel costs

-7.861.000,-

Depreciation

-408.000,-

Total operating expenses

-50.217.000,-

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

21.555.000,-

Operating profit or loss

8.128.000,-

Financial income

3.000,-

Financial expenses

-101.000,-

Result of ordinary operations

8.030.000,-

Pre-tax and pre-appropriation profit or loss

8.030.000,-

Appropriations

-2.000.000,-

Taxes

-1.713.000,-

Net profit or loss

4.317.000,-

 

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

Main revenue (sales/turnover)

45.917.000,-

Total operating income/revenue

45.917.000,-

Cost of materials (type of expenditure format)

-31.545.000,-

Inventories and work in progress (incl. prepayments)

-31.545.000,-

Personnel costs

-6.117.000,-

Depreciation

-323.000,-

Total operating expenses

-44.224.000,-

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

14.372.000,-

Operating profit or loss

1.692.000,-

Financial income

1.000,-

Financial expenses

-147.000,-

Result of ordinary operations

1.547.000,-

Pre-tax and pre-appropriation profit or loss

1.547.000,-

Appropriations

-517.000,-

Taxes

-302.000,-

Net profit or loss

728.000,-

 

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

Main revenue (sales/turnover)

35.344.000,-

Total operating income/revenue

35.352.000,-

Cost of materials (type of expenditure format)

-23.904.000,-

Inventories and work in progress (incl. prepayments)

-23.904.000,-

Personnel costs

-4.582.000,-

Depreciation

-201.000,-

Total operating expenses

-33.345.000,-

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

11.440.000,-

Operating profit or loss

2.007.000,-

Financial income

15.000,-

Financial expenses

-348.000,-

Result of ordinary operations

1.674.000,-

Pre-tax and pre-appropriation profit or loss

1.674.000,-

Appropriations

-463.000,-

Taxes

-353.000,-

Net profit or loss

858.000,-

 

Turnover for the period: 01 May 2006 - 30 April 2007  in  SEK 58.346.000,00

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

 

Turnover for the period: 01 May 2005 - 30 April 2006  in  SEK 45.917.000,00

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

 

Turnover for the period: 01 May 2004 - 30 April 2005  in  SEK 35.352.000,00

 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