MIRA INFORM REPORT

 

                                                                                 

 

Report Date :

18.07.2008

 

IDENTIFICATION DETAILS

 

Name :

CELLBES POSTORDER AB

 

 

Registered Office :

Ryssn! Esgatan 2, 50494 Bor!As Se

 

 

Country :

Sweden

 

 

Financials (as on) :

31.08.2007

 

 

Date of Incorporation :

12.06.1967

 

 

Com. Reg. No.:

5561104109

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Catalogue Order Company.       

 

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

 

CELLBES POSTORDER AB

RYSSN!ESGATAN 2

50494 BOR!AS SE

Tel. Number +46-33-442700

 

 

Business registered

 

12 June 1967 - Private limited company (no information regarding quotation)

 

 

Registration number

 

5561104109,

 

 

Tax number

 

SE556110410901,

 

 

Legal form

 

Private limited company (no information regarding quotation)

 

 

Activities  

 

Catalogue order company.

 

 

Credit opinion

 

High creditworthiness

 

Maximum credit limit 10000000 SEK is advised

 

 

Total share capital

 

SEK 5000000

 

Boardmembers    

 

ULF ROBERT T!ORNBLOM   Boardmember

 

TONY OLOFSSON   Boardmember

 

 

Auditor 

 

PRICEWATERHOUSECOOPERS AB   Auditor

 

 

Management   

 

GUNNAR AXEL RYMAN   Managing director

 

 

Ultimate parent company

 

5567052997   CONSORTIO INVEST AB   

 

 

Parent company 

 

5565402152   HALENS HOLDING AB   100 %   

www.cellbes.se

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 July 1993

all debentures and debenture mortgages taken out.  30200000 

 

Corporate balance sheet for the year: 01 May 2007 - 31 August 2007  in  SEK 

Plant, machinery and equipment

2.291.000,-

Total tangible fixed assets

2.291.000,-

Loans, shares and participations

263.000,-

Total financial fixed assets

263.000,-

Total fixed assets

2.554.000,-

Inventories and work in progress (incl. prepayments)

40.553.000,-

Accounts receivable (trade)

93.989.000,-

Receivables from affiliates and companies in which participations are held

21.808.000,-

Cash in hand and at bank

5.785.000,-

Total Current assets

170.528.000,-

Total assets incl. prepaid expenses and accrued income

173.082.000,-

Issued (subscribed) capital

5.000.000,-

Statutory reserves

1.000.000,-

Profit or loss carried forward

61.795.000,-

Profit or loss for the financial year

12.868.000,-

Total equity (Shareholders' funds)

61.210.000,-

Current accounts payable (trade)

11.917.000,-

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

67.691.000,-

Total current liabilities

89.295.000,-

Total liabilities

89.295.000,-

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

173.082.000,-

Unspecified depreciations

875.000,-

Unspecified depreciations of which goods sold

102.000,-

Unspecified depreciations of which sell costs

172.000,-

Unspecified depreciations of which admin costs

601.000,-

Other contingent liabilities

3.602.000,-

Total contingent liabilities.

3.602.000,-

Equity/assets ratio

44,-

Acid-test ratio

145,-

Return on assets

33,-

Average interest on debt

-2,-

Cash flow as percentage of total liabilities

45,-

Debt/equity ratio

125,-

Current ratio

190,-

Return on equity

70,-

Interest coverage ratio

20,-

Inventory turnover rate (times/year)

7,-

Risk buffer

30,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

25,-

Accounts receivable as percentage of turnover

29,-

Inventory as percentage of turnover

12,-

Current liabilities as percentage of turnover

27,-

Credit period granted

74,-

Cash flow as percentage of financial expenses

1.450,-

Solvency margin

48,-

Structure of financial fixed assets

10,-

Tangible fixed assets structure

89,-

Risk ratio

5,-

Credit period received

10,-

Gross margin

18,-

Operating margin

17,-

Net margin

16,-

 

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

Land and buildings

17.373.000,-

Plant, machinery and equipment

2.926.000,-

Total tangible fixed assets

20.299.000,-

Loans, shares and participations

263.000,-

Total financial fixed assets

263.000,-

Total fixed assets

20.562.000,-

Inventories and work in progress (incl. prepayments)

29.056.000,-

Accounts receivable (trade)

98.518.000,-

Receivables from affiliates and companies in which participations are held

41.765.000,-

Cash in hand and at bank

18.119.000,-

Total Current assets

196.571.000,-

Total assets incl. prepaid expenses and accrued income

217.133.000,-

Issued (subscribed) capital

5.000.000,-

Statutory reserves

1.000.000,-

Profit or loss carried forward

14.287.000,-

Profit or loss for the financial year

42.061.000,-

Total equity (Shareholders' funds)

62.348.000,-

Current accounts payable (trade)

14.514.000,-

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

108.841.000,-

Total current liabilities

132.055.000,-

Total liabilities

132.055.000,-

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

217.133.000,-

Number of employees

64,-

Salaries to others

15.837.000,-

Total salaries

15.837.000,-

Total salaries and remunerations

15.837.000,-

Social security expenses

6.337.000,-

Unspecified depreciations

2.725.000,-

Unspecified depreciations of which goods sold

393.000,-

Unspecified depreciations of which sell costs

1.933.000,-

Unspecified depreciations of which admin costs

399.000,-

Property mortgages

28.500.000,-

Total pledged assets

28.500.000,-

Other contingent liabilities

3.292.000,-

Total contingent liabilities.

3.292.000,-

Equity/assets ratio

36,-

Acid-test ratio

126,-

Return on assets

23,-

Cash flow as percentage of total liabilities

26,-

Debt/equity ratio

177,-

Current ratio

148,-

Return on equity

63,-

Interest coverage ratio

68,-

Inventory turnover rate (times/year)

11,-

Risk buffer

22,-

Labour costs as percentage of turnover

-4,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

18,-

Accounts receivable as percentage of turnover

28,-

Inventory as percentage of turnover

8,-

Current liabilities as percentage of turnover

37,-

Credit period granted

65,-

Turnover per employee in SEK thousands

5.436.000,-

Cash flow as percentage of financial expenses

4.779,-

Solvency margin

39,-

Structure of financial fixed assets

1,-

Tangible fixed assets structure

98,-

Risk ratio

5,-

Credit period received

14,-

Gross margin

15,-

Operating margin

14,-

Net margin

14,-

 

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

Land and buildings

18.753.000,-

Plant, machinery and equipment

4.450.000,-

Total tangible fixed assets

23.203.000,-

Loans, shares and participations

290.000,-

Total financial fixed assets

290.000,-

Total fixed assets

23.493.000,-

Inventories and work in progress (incl. prepayments)

29.084.000,-

Accounts receivable (trade)

83.231.000,-

Receivables from affiliates and companies in which participations are held

123.558.000,-

Cash in hand and at bank

21.531.000,-

Total Current assets

265.363.000,-

Total assets incl. prepaid expenses and accrued income

288.856.000,-

Issued (subscribed) capital

5.000.000,-

Statutory reserves

1.000.000,-

Profit or loss carried forward

206.507.000,-

Profit or loss for the financial year

3.340.000,-

Total equity (Shareholders' funds)

213.662.000,-

Current accounts payable (trade)

25.123.000,-

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

3.179.000,-

Total current liabilities

42.852.000,-

Total liabilities

42.852.000,-

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

288.856.000,-

Number of employees

118,-

Salaries to others

29.123.000,-

Total salaries

29.123.000,-

Total salaries and remunerations

29.123.000,-

Social security expenses

11.378.000,-

Dividend

150.000.000,-

Unspecified depreciations

4.661.000,-

Unspecified depreciations of which goods sold

479.000,-

Unspecified depreciations of which sell costs

1.704.000,-

Unspecified depreciations of which admin costs

2.478.000,-

Floating charges

30.000.000,-

Property mortgages

28.500.000,-

Total pledged assets

58.500.000,-

Other contingent liabilities

2.127.000,-

Total contingent liabilities.

2.127.000,-

Equity/assets ratio

81,-

Acid-test ratio

551,-

Cash flow as percentage of total liabilities

5,-

Debt/equity ratio

22,-

Current ratio

619,-

Interest coverage ratio

-10,-

Inventory turnover rate (times/year)

10,-

Labour costs as percentage of turnover

-9,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

72,-

Accounts receivable as percentage of turnover

26,-

Inventory as percentage of turnover

9,-

Current liabilities as percentage of turnover

13,-

Credit period granted

59,-

Turnover per employee in SEK thousands

2.618.000,-

Cash flow as percentage of financial expenses

2.125,-

Solvency margin

85,-

Structure of financial fixed assets

1,-

Tangible fixed assets structure

98,-

Credit period received

15,-

Gross margin

1,-

 

Corporate profit and loss account for the year: 01 May 2007 - 31 August 2007  in  SEK 

Main revenue (sales/turnover)

107.029.000,-

Total operating income/revenue

107.690.000,-

Cost of materials (type of expenditure format)

-39.808.000,-

Total operating expenses

-88.599.000,-

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

67.221.000,-

Depreciations

-875.000,-

Operating profit or loss

19.091.000,-

Financial income

8.000,-

Financial expenses

-937.000,-

Result of ordinary operations

18.162.000,-

Pre-tax and pre-appropriation profit or loss

18.162.000,-

Appropriations

153.000,-

Taxes

-5.447.000,-

Net profit or loss

12.868.000,-

 

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

Main revenue (sales/turnover)

347.109.000,-

Total operating income/revenue

347.931.000,-

Cost of materials (type of expenditure format)

-138.757.000,-

Total operating expenses

-297.531.000,-

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

208.352.000,-

Depreciations

-2.725.000,-

Operating profit or loss

50.400.000,-

Financial income

108.000,-

Financial expenses

-736.000,-

Result of ordinary operations

49.772.000,-

Pre-tax and pre-appropriation profit or loss

49.772.000,-

Appropriations

9.611.000,-

Taxes

-17.322.000,-

Net profit or loss

42.061.000,-

 

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

Main revenue (sales/turnover)

308.568.000,-

Total operating income/revenue

308.960.000,-

Cost of materials (type of expenditure format)

-131.799.000,-

Total operating expenses

-309.651.000,-

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

176.769.000,-

Depreciations

-4.661.000,-

Operating profit or loss

-691.000,-

Receivables from affiliates and companies in which participations are held

-848.000,-

Financial income

-385.000,-

Financial expenses

-103.000,-

Result of ordinary operations

-1.179.000,-

Pre-tax and pre-appropriation profit or loss

-1.179.000,-

Appropriations

5.812.000,-

Taxes

-1.293.000,-

Net profit or loss

3.340.000,-

 

Turnover for the period: 01 May 2007 - 31 August 2007  in  SEK 107.690.000,00

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

 

Turnover for the period: 01 May 2006 - 30 April 2007  in  SEK 347.931.000,00

 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 308.960.000,00

 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.42.78

UK Pound

1

Rs.85.51

Euro

1

Rs.67.90

 

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