MIRA INFORM REPORT

 

 

 

Report Date :

22.07.2008

 

IDENTIFICATION DETAILS

 

Name :

ASTON SWEDEN AB

 

 

Registered Office :

Hangarv!Egen 23 69135 Karlskoga 

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

05.06.1984

 

 

Com. Reg. No.:

5562441864

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of Fasteners.

 

 

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 :

SEK 1500000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

name & address

 

ASTON SWEDEN AB

 HANGARV!EGEN 23

 69135 KARLSKOGA SE

Tel. Number +46-586-63450

 

 

Business registered

 

05 June 1984 - Private limited company (no information regarding quotation)

 

 

Registration number   

 

5562441864,

 

 

Tax number    

 

SE556244186401,

 

 

Legal form

 

Private limited company (no information regarding quotation)

 

 

Activities  

 

Manufacture of fasteners.

                                                          

 

Credit opinion

 

High creditworthiness

Maximum credit limit 1500000 SEK is advised

 

 

Employees (Business)     

 

15

 

 

 

 

Total share capital

 

SEK 500000

 

 

Boardmembers    

 

CLAUS HORNSTRUP DISSING   Boardmember

RASMUS LAUEST   Boardmember

 

 

Auditor 

 

MICHAEL HERTIN   Auditor

 

 

Management   

 

ANDERS SIGVARD BYTTNER   Managing director

 

 

Shareholder in ultimate parent company   

 

ALFA-TEC DANMARK AS   80 %   Shareholder

MUS HOLDING APS   20 %   Shareholder

 

                                                          

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 January 1995

all debentures and debenture mortgages taken out.  7900000 

 

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

Plant, machinery and equipment

1.520.000,-

Total tangible fixed assets

1.520.000,-

Total fixed assets

1.520.000,-

Inventories and work in progress (incl. prepayments)

8.468.000,-

Accounts receivable (trade)

1.908.000,-

Receivables from affiliates and companies in which participations are held

2.093.000,-

Cash in hand and at bank

3.458.000,-

Total Current assets

16.284.000,-

Total assets incl. prepaid expenses and accrued income

17.803.000,-

Issued (subscribed) capital

500.000,-

Statutory reserves

100.000,-

Profit or loss carried forward

10.761.000,-

Profit or loss for the financial year

3.026.000,-

Total equity (Shareholders' funds)

14.387.000,-

Current accounts payable (trade)

848.000,-

Total current liabilities

2.456.000,-

Total liabilities

2.456.000,-

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

17.803.000,-

Number of employees

15,-

Salaries board/Managing Director

520.000,-

Salaries to others

3.947.000,-

Total salaries

4.467.000,-

Total salaries and remunerations

4.467.000,-

Social security expenses

2.014.000,-

Depreciation

253.000,-

Floating charges

7.900.000,-

Total pledged assets

7.900.000,-

Equity/assets ratio

84,-

Acid-test ratio

318,-

Return on assets

24,-

Cash flow as percentage of total liabilities

140,-

Debt/equity ratio

18,-

Current ratio

663,-

Return on equity

29,-

Interest coverage ratio

365,-

Inventory turnover rate (times/year)

4,-

Risk buffer

24,-

Labour costs as percentage of turnover

-12,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

39,-

Accounts receivable as percentage of turnover

5,-

Inventory as percentage of turnover

24,-

Current liabilities as percentage of turnover

7,-

Credit period granted

15,-

Turnover per employee in SEK thousands

2.307.000,-

Cash flow as percentage of financial expenses

28.725,-

Solvency margin

86,-

Tangible fixed assets structure

100,-

Credit period received

6,-

Gross margin

13,-

Operating margin

12,-

Net margin

12,-

 

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

Plant, machinery and equipment

1.668.000,-

Total tangible fixed assets

1.668.000,-

Total fixed assets

1.668.000,-

Inventories and work in progress (incl. prepayments)

8.526.000,-

Accounts receivable (trade)

2.354.000,-

Receivables from affiliates and companies in which participations are held

1.172.000,-

Cash in hand and at bank

1.319.000,-

Total Current assets

13.971.000,-

Total assets incl. prepaid expenses and accrued income

15.639.000,-

Issued (subscribed) capital

500.000,-

Statutory reserves

100.000,-

Profit or loss carried forward

9.845.000,-

Profit or loss for the financial year

2.151.000,-

Total equity (Shareholders' funds)

12.596.000,-

Current accounts payable (trade)

974.000,-

Total current liabilities

2.250.000,-

Total liabilities

2.250.000,-

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

15.639.000,-

Number of employees

14,-

Salaries board/Managing Director

532.000,-

Salaries to others

3.709.000,-

Total salaries

4.241.000,-

Total salaries and remunerations

4.241.000,-

Social security expenses

2.016.000,-

Dividend

1.236.000,-

Depreciation

288.000,-

Floating charges

7.900.000,-

Total pledged assets

7.900.000,-

Equity/assets ratio

84,-

Acid-test ratio

242,-

Return on assets

21,-

Cash flow as percentage of total liabilities

126,-

Debt/equity ratio

19,-

Current ratio

620,-

Return on equity

25,-

Self-financing rate

1.435,-

Interest coverage ratio

163,-

Inventory turnover rate (times/year)

3,-

Risk buffer

21,-

Labour costs as percentage of turnover

-13,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

38,-

Accounts receivable as percentage of turnover

7,-

Inventory as percentage of turnover

28,-

Current liabilities as percentage of turnover

7,-

Credit period granted

17,-

Turnover per employee in SEK thousands

2.170.000,-

Cash flow as percentage of financial expenses

13.604,-

Solvency margin

85,-

Tangible fixed assets structure

100,-

Credit period received

9,-

Gross margin

11,-

Operating margin

10,-

Net margin

11,-

 

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

Plant, machinery and equipment

1.469.000,-

Total tangible fixed assets

1.469.000,-

Total fixed assets

1.469.000,-

Inventories and work in progress (incl. prepayments)

6.236.000,-

Accounts receivable (trade)

2.001.000,-

Receivables from affiliates and companies in which participations are held

954.000,-

Cash in hand and at bank

2.686.000,-

Total Current assets

12.195.000,-

Total assets incl. prepaid expenses and accrued income

13.664.000,-

Issued (subscribed) capital

500.000,-

Statutory reserves

100.000,-

Profit or loss carried forward

9.845.000,-

Profit or loss for the financial year

353.000,-

Total equity (Shareholders' funds)

10.798.000,-

Current accounts payable (trade)

1.346.000,-

Total current liabilities

2.491.000,-

Total liabilities

2.491.000,-

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

13.664.000,-

Number of employees

15,-

Salaries board/Managing Director

553.000,-

Salaries to others

2.924.000,-

Total salaries

3.477.000,-

Total salaries and remunerations

3.477.000,-

Social security expenses

2.039.000,-

Dividend

353.000,-

Depreciation

281.000,-

Floating charges

200.000,-

Total pledged assets

200.000,-

Equity/assets ratio

80,-

Acid-test ratio

239,-

Return on assets

3,-

Cash flow as percentage of total liabilities

25,-

Debt/equity ratio

24,-

Current ratio

489,-

Return on equity

4,-

Interest coverage ratio

20,-

Inventory turnover rate (times/year)

4,-

Risk buffer

2,-

Labour costs as percentage of turnover

-11,-

Capital turnover rate (times/year)

2,-

Working capital as percentage of turnover

32,-

Accounts receivable as percentage of turnover

6,-

Inventory as percentage of turnover

20,-

Current liabilities as percentage of turnover

8,-

Credit period granted

16,-

Turnover per employee in SEK thousands

1.993.000,-

Cash flow as percentage of financial expenses

2.536,-

Solvency margin

81,-

Tangible fixed assets structure

100,-

Credit period received

8,-

Gross margin

2,-

Operating margin

1,-

Net margin

1,-

 

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

Main revenue (sales/turnover)

31.710.000,-

Total operating income/revenue

34.611.000,-

Cost of materials (type of expenditure format)

-20.716.000,-

Personnel costs

-6.642.000,-

Depreciation

-253.000,-

Total operating expenses

-30.281.000,-

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

10.994.000,-

Operating profit or loss

4.329.000,-

Financial income

56.000,-

Financial expenses

-12.000,-

Result of ordinary operations

4.373.000,-

Pre-tax and pre-appropriation profit or loss

4.373.000,-

Appropriations

-169.000,-

Taxes

-1.179.000,-

Net profit or loss

3.026.000,-

 

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

Main revenue (sales/turnover)

27.949.000,-

Total operating income/revenue

30.390.000,-

Cost of materials (type of expenditure format)

-18.109.000,-

Personnel costs

-6.342.000,-

Depreciation

-288.000,-

Total operating expenses

-27.115.000,-

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

9.840.000,-

Operating profit or loss

3.274.000,-

Financial income

154.000,-

Financial expenses

-21.000,-

Result of ordinary operations

3.407.000,-

Pre-tax and pre-appropriation profit or loss

3.407.000,-

Appropriations

-418.000,-

Taxes

-838.000,-

Net profit or loss

2.151.000,-

 

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

Main revenue (sales/turnover)

27.541.000,-

Total operating income/revenue

29.909.000,-

Cost of materials (type of expenditure format)

-19.858.000,-

Personnel costs

-6.764.000,-

Depreciation

-281.000,-

Total operating expenses

-29.500.000,-

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

7.683.000,-

Operating profit or loss

410.000,-

Financial income

111.000,-

Financial expenses

-25.000,-

Result of ordinary operations

496.000,-

Pre-tax and pre-appropriation profit or loss

496.000,-

Taxes

-143.000,-

Net profit or loss

353.000,-

 

Turnover for the period: 01 January 2006 - 31 December 2006  in  SEK 34.611.000,00

 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 30.390.000,00

 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 29.909.000,00

 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.42.33

UK Pound

1

Rs.84.32

Euro

1

Rs.66.75

 

 

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