MIRA INFORM REPORT

 

 

 

Report Date :

24.07.2008

 

IDENTIFICATION DETAILS

 

Name :

ARVIDSSONS TEXTIL AB

 

 

Registered Office :

Box 251 51123 Kinna 

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

21.01.1989

 

 

Com. Reg. No.:

5563409464

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Dealing in Curtain Fabrics, Piece-Goods, Oddments

 

 

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 1000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

NAME & ADDRESS

 

ARVIDSSONS TEXTIL AB

 BOX 251

 51123 KINNA SE

Tel. Number +46-320-209080

 

 

Business registered

 

21 January 1989 - Private limited company (no information regarding quotation)

 

 

Registration number

 

5563409464,

 

 

Tax number

 

SE556340946401,

 

 

Legal form

 

Private limited company (no information regarding quotation)

 

 

Activities  

 

No Match!

 

 

Credit opinion

 

High creditworthiness

Maximum credit limit 1000000 SEK is advised

 

 

Employees (Business)   

 

18

 

 

Total share capital

 

SEK 2500000

 

 

Board members   

 

ROLF G!ORAN KARLSSON   Board member

ALLAN ARVIDSSON   Board member

LARS ERICSON   Board member

EVA KARLSSON   Deputy board member

MIALOTTA ARVIDSSON MARS   Deputy board member

JONAS ARVIDSSON   Deputy board member

 

 

Auditor 

 

STIG BERG   Auditor

 

 

Management   

 

PER STENMAN   Managing director

 

 

Subsidiary company

HALDEN HEIMTEXTIL A/S   100 %   

 

                                                 

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 September 1999

all debentures and debenture mortgages taken out.  16630000 

 

Corporate balance sheet for the year: 01 January 2007 - 31 December 2007  in  SEK 

Plant, machinery and equipment

264.000,-

Total tangible fixed assets

264.000,-

Loans, shares and participations

45.000,-

Total financial fixed assets

407.000,-

Total fixed assets

671.000,-

Inventories and work in progress (incl. prepayments)

14.180.000,-

Accounts receivable (trade)

2.685.000,-

Receivables from affiliates and companies in which participations are held

630.000,-

Cash in hand and at bank

897.000,-

Total Current assets

18.553.000,-

Total assets incl. prepaid expenses and accrued income

19.224.000,-

Issued (subscribed) capital

2.500.000,-

Statutory reserves

2.700.000,-

Profit or loss carried forward

1.665.000,-

Profit or loss for the financial year

1.193.000,-

Total equity (Shareholders' funds)

8.058.000,-

Bank overdraft granted of which bank overdraft utilized

2.994.000,-

Long-term payables to affiliated companies and to companies in which participations are held

3.400.000,-

Total long-term liabilities

3.400.000,-

Current liabilities to credit institutions

2.994.000,-

Current accounts payable (trade)

1.445.000,-

Total current liabilities

7.673.000,-

Total liabilities

11.073.000,-

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

19.224.000,-

Number of employees

18,-

Salaries board/Managing Director

364.000,-

Salaries to others

4.749.000,-

Total salaries

5.113.000,-

Total salaries and remunerations

5.113.000,-

Social security expenses

2.207.000,-

Depreciation

68.000,-

Bank overdraft granted

3.600.000,-

Floating charges

16.630.000,-

Other pledges

2.496.000,-

Total pledged assets

19.126.000,-

Other contingent liabilities

362.000,-

Total contingent liabilities.

362.000,-

Equity/assets ratio

42,-

Acid-test ratio

56,-

Return on assets

7,-

Average interest on debt

-3,-

Cash flow as percentage of total liabilities

11,-

Debt/equity ratio

137,-

Current ratio

241,-

Return on equity

14,-

Interest coverage ratio

4,-

Inventory turnover rate (times/year)

1,-

Risk buffer

4,-

Labour costs as percentage of turnover

-19,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

42,-

Accounts receivable as percentage of turnover

10,-

Inventory as percentage of turnover

54,-

Current liabilities as percentage of turnover

29,-

Credit period granted

25,-

Turnover per employee in SEK thousands

1.436.000,-

Cash flow as percentage of financial expenses

338,-

Solvency margin

42,-

Structure of financial fixed assets

60,-

Tangible fixed assets structure

39,-

Risk ratio

4,-

Credit period received

12,-

Gross margin

5,-

Operating margin

5,-

Net margin

4,-

 

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

Land and buildings

561.000,-

Plant, machinery and equipment

293.000,-

Total tangible fixed assets

854.000,-

Loans, shares and participations

45.000,-

Total financial fixed assets

385.000,-

Total fixed assets

1.239.000,-

Inventories and work in progress (incl. prepayments)

13.785.000,-

Accounts receivable (trade)

2.626.000,-

Receivables from affiliates and companies in which participations are held

532.000,-

Cash in hand and at bank

106.000,-

Total Current assets

17.242.000,-

Total assets incl. prepaid expenses and accrued income

18.481.000,-

Issued (subscribed) capital

2.500.000,-

Statutory reserves

2.700.000,-

Profit or loss carried forward

1.352.000,-

Profit or loss for the financial year

313.000,-

Total equity (Shareholders' funds)

6.865.000,-

Long-term liabilities to credit institutions

3.175.000,-

Bank overdraft granted of which bank overdraft utilized

3.175.000,-

Long-term payables to affiliated companies and to companies in which participations are held

4.000.000,-

Total long-term liabilities

7.175.000,-

Current accounts payable (trade)

1.144.000,-

Total current liabilities

4.314.000,-

Total liabilities

11.489.000,-

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

18.481.000,-

Number of employees

17,-

Salaries board/Managing Director

353.000,-

Salaries to others

4.474.000,-

Total salaries

4.827.000,-

Total salaries and remunerations

4.827.000,-

Social security expenses

1.855.000,-

Depreciation

98.000,-

Bank overdraft granted

4.000.000,-

Floating charges

16.630.000,-

Property mortgages

4.000.000,-

Other pledges

2.398.000,-

Total pledged assets

23.028.000,-

Other contingent liabilities

340.000,-

Total contingent liabilities.

340.000,-

Equity/assets ratio

37,-

Acid-test ratio

80,-

Return on assets

3,-

Average interest on debt

-2,-

Cash flow as percentage of total liabilities

3,-

Debt/equity ratio

166,-

Current ratio

399,-

Return on equity

4,-

Self-financing rate

591,-

Interest coverage ratio

1,-

Inventory turnover rate (times/year)

1,-

Labour costs as percentage of turnover

-19,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

53,-

Accounts receivable as percentage of turnover

10,-

Inventory as percentage of turnover

56,-

Current liabilities as percentage of turnover

17,-

Credit period granted

27,-

Turnover per employee in SEK thousands

1.431.000,-

Cash flow as percentage of financial expenses

130,-

Solvency margin

37,-

Structure of financial fixed assets

31,-

Tangible fixed assets structure

68,-

Risk ratio

4,-

Credit period received

11,-

Gross margin

2,-

Operating margin

2,-

Net margin

1,-

 

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

Land and buildings

591.000,-

Plant, machinery and equipment

286.000,-

Total tangible fixed assets

877.000,-

Loans, shares and participations

45.000,-

Total financial fixed assets

293.000,-

Total fixed assets

1.171.000,-

Inventories and work in progress (incl. prepayments)

13.767.000,-

Accounts receivable (trade)

2.733.000,-

Receivables from affiliates and companies in which participations are held

719.000,-

Cash in hand and at bank

352.000,-

Total Current assets

17.743.000,-

Total assets incl. prepaid expenses and accrued income

18.914.000,-

Issued (subscribed) capital

2.500.000,-

Share premium account (capital reserve)

2.500.000,-

Statutory reserves

200.000,-

Profit or loss carried forward

1.267.000,-

Profit or loss for the financial year

85.000,-

Total equity (Shareholders' funds)

6.552.000,-

Long-term liabilities to credit institutions

3.967.000,-

Bank overdraft granted of which bank overdraft utilized

3.967.000,-

Total long-term liabilities

8.500.000,-

Current accounts payable (trade)

1.120.000,-

Total current liabilities

3.726.000,-

Total liabilities

12.226.000,-

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

18.914.000,-

Number of employees

18,-

Salaries board/Managing Director

347.000,-

Salaries to others

4.360.000,-

Total salaries

4.707.000,-

Total salaries and remunerations

4.707.000,-

Social security expenses

1.883.000,-

Depreciation

89.000,-

Bank overdraft granted

4.000.000,-

Floating charges

16.630.000,-

Property mortgages

4.000.000,-

Other pledges

2.190.000,-

Total pledged assets

22.820.000,-

Other contingent liabilities

150.000,-

Total contingent liabilities.

150.000,-

Equity/assets ratio

35,-

Acid-test ratio

106,-

Return on assets

1,-

Average interest on debt

-2,-

Cash flow as percentage of total liabilities

1,-

Debt/equity ratio

185,-

Current ratio

476,-

Return on equity

1,-

Interest coverage ratio

1,-

Inventory turnover rate (times/year)

1,-

Labour costs as percentage of turnover

-20,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

61,-

Accounts receivable as percentage of turnover

12,-

Inventory as percentage of turnover

60,-

Current liabilities as percentage of turnover

16,-

Credit period granted

27,-

Turnover per employee in SEK thousands

1.263.000,-

Cash flow as percentage of financial expenses

58,-

Solvency margin

35,-

Structure of financial fixed assets

25,-

Tangible fixed assets structure

74,-

Risk ratio

2,-

Credit period received

10,-

Gross margin

1,-

Operating margin

1,-

 

Corporate profit and loss account for the year: 01 January 2007 - 31 December 2007  in  SEK 

Main revenue (sales/turnover)

23.880.000,-

Total operating income/revenue

25.863.000,-

Cost of materials (type of expenditure format)

-12.954.000,-

Inventories and work in progress (incl. prepayments)

-12.954.000,-

Personnel costs

-7.656.000,-

Depreciation

-68.000,-

Total operating expenses

-24.445.000,-

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

10.926.000,-

Operating profit or loss

1.419.000,-

Financial income

104.000,-

Financial expenses

-363.000,-

Result of ordinary operations

1.160.000,-

Pre-tax and pre-appropriation profit or loss

1.160.000,-

Appropriations

33.000,-

Net profit or loss

1.193.000,-

 

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

Main revenue (sales/turnover)

22.621.000,-

Total operating income/revenue

24.331.000,-

Cost of materials (type of expenditure format)

-12.424.000,-

Inventories and work in progress (incl. prepayments)

-12.424.000,-

Personnel costs

-6.951.000,-

Depreciation

-98.000,-

Total operating expenses

-23.783.000,-

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

10.197.000,-

Operating profit or loss

548.000,-

Financial income

63.000,-

Financial expenses

-308.000,-

Result of ordinary operations

304.000,-

Pre-tax and pre-appropriation profit or loss

304.000,-

Appropriations

10.000,-

Net profit or loss

313.000,-

 

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

Main revenue (sales/turnover)

20.793.000,-

Total operating income/revenue

22.736.000,-

Cost of materials (type of expenditure format)

-11.399.000,-

Inventories and work in progress (incl. prepayments)

-11.399.000,-

Personnel costs

-6.679.000,-

Depreciation

-89.000,-

Total operating expenses

-22.477.000,-

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

9.394.000,-

Operating profit or loss

259.000,-

Financial income

88.000,-

Financial expenses

-275.000,-

Result of ordinary operations

71.000,-

Pre-tax and pre-appropriation profit or loss

71.000,-

Appropriations

13.000,-

Net profit or loss

85.000,-

 

Turnover for the period: 01 January 2007 - 31 December 2007  in  SEK 25.863.000,00

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

 

Turnover for the period: 01 January 2006 - 31 December 2006  in  SEK 24.331.000,00

 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 22.736.000,00

 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.41.96

UK Pound

1

Rs.83.78

Euro

1

Rs.65.82

 

 

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