MIRA INFORM REPORT

 

                                                                

 

Report Date :

03.07.2008

 

IDENTIFICATION DETAILS

 

Name :

SEGER EUROPE AB

 

 

Registered Office :

Gällstads Roshult 52010 Gallstad

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

29.05.1984

 

 

Com. Reg. No.:

5562448901

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of wearing apparel/ dressing and dyeing of fur

Manufacture of textiles

 

 

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 2000000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

name & address

 

SEGER EUROPE AB

 Gällstads Röshult

 52010 Gällstad SE

Tel. Number +46-321-26000

 

 

 

 

Business registered

29 May 1984 - Private limited company (no information regarding quotation)

Registration number,

5562448901,

Tax number :,

SE556244890101,

Legal form

Private limited company (no information regarding quotation)

Activities

No Match!

 

No Match!

Credit opinion

High creditworthiness

 

Maximum credit limit 2000000 SEK is advised

Employees (Business)

 58

Total share capital

SEK 1000000

Board members

TORSTEN JANSSON   Board member

 

G!ORAN H!ERSTEDT   Board member

Auditor

SVERRE R!OKAAS   Auditor

 

FREDRIK EKELUND   Deputy auditor

Management

PER SEGERQVIST   Managing director

Parent company :

5563500916   NEW WAVE GROUP AB   100 %   

 

 

 

 

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 October 1988

all debentures and debenture mortgages taken out.  8470000 

 

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  5236000  rateable (taxable) value

 

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

Textile and clothing industry  5236000  rateable (taxable) value

 

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

Land and buildings

4.234.000,-

Plant, machinery and equipment

9.745.000,-

Total tangible fixed assets

13.979.000,-

Total financial fixed assets

7.000,-

Total fixed assets

13.986.000,-

Inventories and work in progress (incl. prepayments)

19.636.000,-

Accounts receivable (trade)

11.074.000,-

Receivables from affiliates and companies in which participations are held

1.597.000,-

Cash in hand and at bank

22.000,-

Total Current assets

34.114.000,-

Total assets incl. prepaid expenses and accrued income

48.100.000,-

Issued (subscribed) capital

1.000.000,-

Statutory reserves

200.000,-

Profit or loss carried forward

5.470.000,-

Profit or loss for the financial year

618.000,-

Total equity (Shareholders' funds)

7.288.000,-

Total provisions

1.588.000,-

Bank overdraft granted of which bank overdraft utilized

7.095.000,-

Current liabilities to credit institutions

7.095.000,-

Current accounts payable (trade)

5.913.000,-

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

8.621.000,-

Total current liabilities

29.149.000,-

Total liabilities

29.149.000,-

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

48.100.000,-

Number of employees

58,-

Salaries board/Managing Director

572.000,-

Salaries to others

14.630.000,-

Total salaries

15.202.000,-

Total salaries and remunerations

15.202.000,-

Social security expenses

6.035.000,-

Depreciation

2.755.000,-

Bank overdraft granted

25.000.000,-

Floating charges

8.470.000,-

Property mortgages

6.750.000,-

Total pledged assets

15.220.000,-

Other contingent liabilities

634.000,-

Total contingent liabilities.

634.000,-

Equity/assets ratio

29,-

Acid-test ratio

49,-

Return on assets

19,-

Average interest on debt

-1,-

Cash flow as percentage of total liabilities

35,-

Debt/equity ratio

235,-

Current ratio

117,-

Return on equity

58,-

Interest coverage ratio

14,-

Inventory turnover rate (times/year)

3,-

Risk buffer

17,-

Labour costs as percentage of turnover

-21,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

6,-

Accounts receivable as percentage of turnover

15,-

Inventory as percentage of turnover

27,-

Current liabilities as percentage of turnover

40,-

Credit period granted

35,-

Turnover per employee in SEK thousands

1.238.000,-

Cash flow as percentage of financial expenses

1.764,-

Solvency margin

36,-

Tangible fixed assets structure

99,-

Risk ratio

8,-

Credit period received

23,-

Gross margin

16,-

Operating margin

12,-

Net margin

11,-

 

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

Land and buildings

4.640.000,-

Plant, machinery and equipment

11.838.000,-

Total tangible fixed assets

16.478.000,-

Total financial fixed assets

7.000,-

Total fixed assets

16.485.000,-

Inventories and work in progress (incl. prepayments)

19.681.000,-

Accounts receivable (trade)

9.220.000,-

Receivables from affiliates and companies in which participations are held

1.377.000,-

Cash in hand and at bank

2.000,-

Total Current assets

32.316.000,-

Total assets incl. prepaid expenses and accrued income

48.801.000,-

Issued (subscribed) capital

1.000.000,-

Statutory reserves

200.000,-

Profit or loss carried forward

5.447.000,-

Profit or loss for the financial year

23.000,-

Total equity (Shareholders' funds)

6.670.000,-

Total provisions

1.422.000,-

Bank overdraft granted of which bank overdraft utilized

14.249.000,-

Current liabilities to credit institutions

14.249.000,-

Current accounts payable (trade)

7.465.000,-

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

2.573.000,-

Total current liabilities

30.647.000,-

Total liabilities

30.647.000,-

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

48.801.000,-

Number of employees

61,-

Salaries board/Managing Director

552.000,-

Salaries to others

15.084.000,-

Total salaries

15.636.000,-

Total salaries and remunerations

15.636.000,-

Social security expenses

6.418.000,-

Depreciation

3.196.000,-

Bank overdraft granted

25.000.000,-

Floating charges

8.470.000,-

Property mortgages

6.750.000,-

Total pledged assets

15.220.000,-

Other contingent liabilities

1.714.000,-

Total contingent liabilities.

1.714.000,-

Equity/assets ratio

28,-

Acid-test ratio

41,-

Return on assets

4,-

Average interest on debt

-1,-

Cash flow as percentage of total liabilities

14,-

Debt/equity ratio

256,-

Current ratio

105,-

Return on equity

10,-

Self-financing rate

2.235,-

Interest coverage ratio

4,-

Inventory turnover rate (times/year)

3,-

Risk buffer

3,-

Labour costs as percentage of turnover

-25,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

2,-

Accounts receivable as percentage of turnover

15,-

Inventory as percentage of turnover

32,-

Current liabilities as percentage of turnover

50,-

Credit period granted

36,-

Turnover per employee in SEK thousands

999.311,-

Cash flow as percentage of financial expenses

835,-

Solvency margin

34,-

Tangible fixed assets structure

99,-

Risk ratio

25,-

Credit period received

25,-

Gross margin

8,-

Operating margin

3,-

Net margin

2,-

 

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

Land and buildings

5.026.000,-

Plant, machinery and equipment

11.243.000,-

Total tangible fixed assets

16.269.000,-

Total financial fixed assets

7.000,-

Total fixed assets

16.276.000,-

Inventories and work in progress (incl. prepayments)

16.498.000,-

Accounts receivable (trade)

8.787.000,-

Receivables from affiliates and companies in which participations are held

1.719.000,-

Cash in hand and at bank

40.000,-

Total Current assets

28.994.000,-

Total assets incl. prepaid expenses and accrued income

45.270.000,-

Issued (subscribed) capital

1.000.000,-

Statutory reserves

200.000,-

Profit or loss carried forward

5.447.000,-

Total equity (Shareholders' funds)

6.647.000,-

Total provisions

1.250.000,-

Long-term liabilities to credit institutions

5.000.000,-

Bank overdraft granted of which bank overdraft utilized

9.755.000,-

Total long-term liabilities

5.000.000,-

Current liabilities to credit institutions

9.755.000,-

Current accounts payable (trade)

4.769.000,-

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

976.000,-

Total current liabilities

21.965.000,-

Total liabilities

26.965.000,-

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

45.270.000,-

Number of employees

58,-

Salaries board/Managing Director

542.000,-

Salaries to others

13.482.000,-

Total salaries

14.024.000,-

Total salaries and remunerations

14.024.000,-

Social security expenses

5.834.000,-

Depreciation

3.060.000,-

Bank overdraft granted

20.000.000,-

Floating charges

8.470.000,-

Property mortgages

6.750.000,-

Total pledged assets

15.220.000,-

Other contingent liabilities

23.000,-

Total contingent liabilities.

23.000,-

Equity/assets ratio

30,-

Acid-test ratio

56,-

Average interest on debt

-1,-

Cash flow as percentage of total liabilities

9,-

Debt/equity ratio

225,-

Current ratio

132,-

Return on equity

-3,-

Self-financing rate

241,-

Inventory turnover rate (times/year)

3,-

Risk buffer

-1,-

Labour costs as percentage of turnover

-25,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

12,-

Accounts receivable as percentage of turnover

16,-

Inventory as percentage of turnover

30,-

Current liabilities as percentage of turnover

40,-

Credit period granted

42,-

Turnover per employee in SEK thousands

945.206,-

Cash flow as percentage of financial expenses

491,-

Solvency margin

37,-

Tangible fixed assets structure

99,-

Credit period received

29,-

Gross margin

5,-

 

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

Main revenue (sales/turnover)

71.161.000,-

Total operating income/revenue

71.828.000,-

Cost of materials (type of expenditure format)

-28.569.000,-

Personnel costs

-21.448.000,-

Depreciation

-2.755.000,-

Total operating expenses

-62.862.000,-

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

42.592.000,-

Operating profit or loss

8.966.000,-

Financial income

100.000,-

Financial expenses

-617.000,-

Result of ordinary operations

8.449.000,-

Pre-tax and pre-appropriation profit or loss

8.449.000,-

Appropriations

-13.000,-

Taxes

-318.000,-

Net profit or loss

618.000,-

 

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

Main revenue (sales/turnover)

60.785.000,-

Total operating income/revenue

60.958.000,-

Cost of materials (type of expenditure format)

-23.886.000,-

Personnel costs

-22.261.000,-

Depreciation

-3.196.000,-

Total operating expenses

-58.996.000,-

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

36.899.000,-

Operating profit or loss

1.962.000,-

Financial income

101.000,-

Financial expenses

-559.000,-

Result of ordinary operations

1.504.000,-

Pre-tax and pre-appropriation profit or loss

1.504.000,-

Appropriations

346.000,-

Taxes

-27.000,-

Net profit or loss

23.000,-

 

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

Main revenue (sales/turnover)

54.623.000,-

Total operating income/revenue

54.822.000,-

Cost of materials (type of expenditure format)

-20.089.000,-

Personnel costs

-20.916.000,-

Depreciation

-3.060.000,-

Total operating expenses

-54.891.000,-

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

34.534.000,-

Operating profit or loss

-69.000,-

Financial income

150.000,-

Financial expenses

-526.000,-

Result of ordinary operations

-445.000,-

Pre-tax and pre-appropriation profit or loss

-445.000,-

Appropriations

182.000,-

Taxes

-32.000,-

 

Turnover for the period: 01 January 2006 - 31 December 2006  in  SEK 71.828.000,00

 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 60.958.000,00

 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 54.822.000,00

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.20

UK Pound

1

Rs.86.13

Euro

1

Rs.68.72

 

 

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