MIRA INFORM REPORT

 

 

 

Report Date :

24.07.2008

 

IDENTIFICATION DETAILS

 

Name :

ELLOS AB

 

 

Registered Office :

50186 Boras   

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

24.07.1944

 

 

Com. Reg. No.:

5560440264

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Clothing Business

 

 

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

 

ELLOS AB

 

 50186 BORÅS   SE

Tel. Number +46-33-160000

 

 

Business registered

 

24 July 1944 - Private limited company (no information regarding quotation)

 

 

Registration number   

 

5560440264,

 

 

Tax number    

 

SE556044026401,

 

 

Legal form

 

Private limited company (no information regarding quotation)

 

 

Activities  

 

Clothing business

                                                         

 

Credit opinion

 

High creditworthiness

Maximum credit limit 10000000 SEK is advised

 

 

Employees (Business)   

 

 883

 

 

Tax arrears .00 May 2006  

 

550

 

 

Tax arrears .00 June 2005 

 

500

 

 

Judgements (total number)  

 

 2

 

 

Judgements (total amount)    

 

1050

 

Total number of judgements, injunctions, claims, etc. (”weak negative facts”)           2

 

 

Total share capital

 

SEK 146450000

 

 

Board members   

LEIF JOHANSSON   Board member

PHILIPPE GERARD FOURNIE   Board member

NIKLAS THUNSTR!OM   Board member

 

 

Auditor 

 

DELOITTE AB   Auditor

 

 

Management   

 

FRANCOISE SUZANNE MARCELLE DEVE   Managing director

 

 

 

 

Parent company

 

5562171925   REDCATS NORDIC AB   100 %   

 

                                                         

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 December 2000

all debentures and debenture mortgages taken out.  517000000 

 

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  186475000  rateable (taxable) value

 

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

Industrial property  182375000  rateable (taxable) value

One or two-family dwelling  2672000  rateable (taxable) value

 

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

Total intangible fixed assets

17.680.000,-

Land and buildings

94.162.000,-

Plant, machinery and equipment

27.751.000,-

Total tangible fixed assets

121.913.000,-

Loans, shares and participations

189.615.000,-

Total financial fixed assets

189.615.000,-

Total fixed assets

329.208.000,-

Inventories and work in progress (incl. prepayments)

352.941.000,-

Accounts receivable (trade)

19.433.000,-

Receivables from affiliates and companies in which participations are held

435.107.000,-

Cash in hand and at bank

1.334.000,-

Total Current assets

879.226.000,-

Total assets incl. prepaid expenses and accrued income

1.208.434.000,-

Issued (subscribed) capital

146.450.000,-

Statutory reserves

67.710.000,-

Profit or loss carried forward

261.990.000,-

Profit or loss for the financial year

13.904.000,-

Total equity (Shareholders' funds)

490.054.000,-

Total provisions

140.967.000,-

Current liabilities to credit institutions

37.694.000,-

Current accounts payable (trade)

142.915.000,-

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

98.496.000,-

Total current liabilities

476.328.000,-

Total liabilities

476.328.000,-

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

1.208.434.000,-

Number of employees

883,-

Salaries to others

261.095.000,-

Total salaries

261.095.000,-

Total salaries and remunerations

261.095.000,-

Social security expenses

106.002.000,-

Depreciation

24.686.000,-

Property mortgages

100.000.000,-

Total pledged assets

100.000.000,-

Other contingent liabilities

2.819.000,-

Total contingent liabilities.

2.819.000,-

Equity/assets ratio

46,-

Acid-test ratio

110,-

Return on assets

4,-

Average interest on debt

-3,-

Cash flow as percentage of total liabilities

7,-

Debt/equity ratio

115,-

Current ratio

184,-

Return on equity

6,-

Interest coverage ratio

2,-

Inventory turnover rate (times/year)

5,-

Risk buffer

1,-

Labour costs as percentage of turnover

-12,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

19,-

Inventory as percentage of turnover

17,-

Current liabilities as percentage of turnover

23,-

Credit period granted

2,-

Turnover per employee in SEK thousands

2.331.000,-

Cash flow as percentage of financial expenses

213,-

Solvency margin

48,-

Structure of financial fixed assets

57,-

Intangible fixed assets structure

5,-

Tangible fixed assets structure

37,-

Credit period received

15,-

Gross margin

2,-

Operating margin

1,-

Net margin

1,-

 

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

Total intangible fixed assets

17.598.000,-

Land and buildings

101.146.000,-

Plant, machinery and equipment

32.020.000,-

Total tangible fixed assets

133.166.000,-

Loans, shares and participations

189.615.000,-

Total financial fixed assets

189.615.000,-

Total fixed assets

340.379.000,-

Inventories and work in progress (incl. prepayments)

322.118.000,-

Accounts receivable (trade)

21.704.000,-

Receivables from affiliates and companies in which participations are held

525.099.000,-

Cash in hand and at bank

14.917.000,-

Total Current assets

957.441.000,-

Total assets incl. prepaid expenses and accrued income

1.297.819.000,-

Issued (subscribed) capital

146.450.000,-

Statutory reserves

67.710.000,-

Profit or loss carried forward

279.142.000,-

Profit or loss for the financial year

-28.160.000,-

Total equity (Shareholders' funds)

465.142.000,-

Total provisions

132.739.000,-

Current liabilities to credit institutions

42.164.000,-

Current accounts payable (trade)

110.152.000,-

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

273.438.000,-

Total current liabilities

607.949.000,-

Total liabilities

607.949.000,-

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

1.297.819.000,-

Number of employees

902,-

Salaries to others

265.730.000,-

Total salaries

265.730.000,-

Total salaries and remunerations

265.730.000,-

Social security expenses

115.671.000,-

Depreciation

25.238.000,-

Property mortgages

100.000.000,-

Total pledged assets

100.000.000,-

Other contingent liabilities

2.655.000,-

Total contingent liabilities.

2.655.000,-

Equity/assets ratio

40,-

Acid-test ratio

104,-

Return on assets

1,-

Average interest on debt

-3,-

Cash flow as percentage of total liabilities

1,-

Debt/equity ratio

145,-

Current ratio

157,-

Return on equity

-1,-

Inventory turnover rate (times/year)

6,-

Risk buffer

-2,-

Labour costs as percentage of turnover

-12,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

16,-

Accounts receivable as percentage of turnover

1,-

Inventory as percentage of turnover

14,-

Current liabilities as percentage of turnover

28,-

Credit period granted

2,-

Turnover per employee in SEK thousands

2.399.000,-

Cash flow as percentage of financial expenses

53,-

Solvency margin

42,-

Structure of financial fixed assets

55,-

Intangible fixed assets structure

5,-

Tangible fixed assets structure

39,-

Credit period received

14,-

Gross margin

2,-

Operating margin

1,-

 

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

Total intangible fixed assets

33.343.000,-

Land and buildings

108.156.000,-

Plant, machinery and equipment

20.491.000,-

Total tangible fixed assets

128.647.000,-

Loans, shares and participations

221.064.000,-

Total financial fixed assets

221.064.000,-

Total fixed assets

383.054.000,-

Inventories and work in progress (incl. prepayments)

417.968.000,-

Accounts receivable (trade)

28.230.000,-

Receivables from affiliates and companies in which participations are held

387.273.000,-

Cash in hand and at bank

76.560.000,-

Total Current assets

994.490.000,-

Total assets incl. prepaid expenses and accrued income

1.377.544.000,-

Issued (subscribed) capital

146.450.000,-

Statutory reserves

67.710.000,-

Profit or loss carried forward

234.969.000,-

Profit or loss for the financial year

33.135.000,-

Total equity (Shareholders' funds)

485.065.000,-

Total provisions

125.071.000,-

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

120.000,-

Total long-term liabilities

120.000,-

Current liabilities to credit institutions

25.231.000,-

Current accounts payable (trade)

147.217.000,-

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

311.416.000,-

Total current liabilities

692.100.000,-

Total liabilities

692.220.000,-

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

1.377.544.000,-

Number of employees

1.047,-

Salaries board/Managing Director

1.164.000,-

Salaries to others

273.840.000,-

Total salaries

275.004.000,-

Total salaries and remunerations

275.004.000,-

Social security expenses

118.968.000,-

Dividend

30.000.000,-

Depreciation

23.951.000,-

Property mortgages

100.000.000,-

Total pledged assets

100.000.000,-

Other contingent liabilities

16.141.000,-

Total contingent liabilities.

16.141.000,-

Equity/assets ratio

39,-

Acid-test ratio

83,-

Return on assets

3,-

Average interest on debt

-1,-

Cash flow as percentage of total liabilities

6,-

Debt/equity ratio

156,-

Current ratio

143,-

Return on equity

6,-

Self-financing rate

25,-

Interest coverage ratio

4,-

Inventory turnover rate (times/year)

4,-

Risk buffer

2,-

Labour costs as percentage of turnover

-15,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

17,-

Accounts receivable as percentage of turnover

1,-

Inventory as percentage of turnover

23,-

Current liabilities as percentage of turnover

39,-

Credit period granted

3,-

Turnover per employee in SEK thousands

1.693.000,-

Cash flow as percentage of financial expenses

515,-

Solvency margin

40,-

Structure of financial fixed assets

57,-

Intangible fixed assets structure

8,-

Tangible fixed assets structure

33,-

Risk ratio

3,-

Credit period received

19,-

Gross 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)

1.039.184.000,-

Total operating income/revenue

2.058.559.000,-

Cost of materials (type of expenditure format)

-1.082.436.000,-

Inventories and work in progress (incl. prepayments)

-1.082.436.000,-

Personnel costs

-396.478.000,-

Depreciation

-24.686.000,-

Total operating expenses

-2.025.217.000,-

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

-43.252.000,-

Operating profit or loss

33.342.000,-

Financial income

23.899.000,-

Financial expenses

-22.328.000,-

Result of ordinary operations

34.913.000,-

Pre-tax and pre-appropriation profit or loss

34.913.000,-

Appropriations

-9.094.000,-

Taxes

-11.914.000,-

Net profit or loss

13.904.000,-

 

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

Main revenue (sales/turnover)

1.133.035.000,-

Total operating income/revenue

2.164.539.000,-

Cost of materials (type of expenditure format)

-1.146.383.000,-

Inventories and work in progress (incl. prepayments)

-1.146.383.000,-

Personnel costs

-406.215.000,-

Depreciation

-25.238.000,-

Total operating expenses

-2.128.024.000,-

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

-13.348.000,-

Operating profit or loss

36.515.000,-

Receivables from affiliates and companies in which participations are held

-30.000.000,-

Financial income

-19.951.000,-

Financial expenses

-26.114.000,-

Result of ordinary operations

-9.550.000,-

Pre-tax and pre-appropriation profit or loss

-9.550.000,-

Appropriations

-16.802.000,-

Taxes

-1.809.000,-

Net profit or loss

-28.160.000,-

 

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

Main revenue (sales/turnover)

1.246.235.000,-

Total operating income/revenue

1.773.467.000,-

Cost of materials (type of expenditure format)

-715.853.000,-

Inventories and work in progress (incl. prepayments)

-715.853.000,-

Personnel costs

-430.259.000,-

Depreciation

-23.951.000,-

Total operating expenses

-1.764.834.000,-

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

530.382.000,-

Operating profit or loss

8.633.000,-

Receivables from affiliates and companies in which participations are held

30.000.000,-

Financial income

36.462.000,-

Financial expenses

-10.719.000,-

Result of ordinary operations

34.376.000,-

Pre-tax and pre-appropriation profit or loss

34.376.000,-

Appropriations

1.802.000,-

Taxes

-3.043.000,-

Net profit or loss

33.135.000,-

 

Turnover for the period: 01 January 2006 - 31 December 2006  in  SEK 2.058.559.000,00

 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 2.164.539.000,00

 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 1.773.467.000,00

 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