MIRA INFORM REPORT

 

 

 

Report Date :

28.07.2008

 

IDENTIFICATION DETAILS

 

Name :

BULTEN-STAINLESS AB

 

 

Registered Office :

 Bultv Egen 20 81294 Ashammar 

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

08.11.1972

 

 

Com. Reg. No.:

5561716894

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of Stainless and Acid-Proof 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 4500000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

name & address

 

BULTEN-STAINLESS AB

 BULTV!EGEN 20

 81294 !ASHAMMAR SE

Tel. Number +46-290-56100

 

 

Business registered

 

08 November 1972 - Private limited company (no information regarding quotation)

 

 

Registration number   

 

5561716894,

 

 

Tax number    

 

SE556171689401,

 

 

Legal form

 

Private limited company (no information regarding quotation)

 

 

Activities  

 

Manufacture of stainless and acid-proof fasteners.

 

 

Credit opinion

 

High creditworthiness

 Maximum credit limit 4500000 SEK is advised

 

 

Employees (Business)   

 

 77

 

 

 

Total share capital

 

SEK 7900000

 

 

Boardmembers    

 

HANS BJ!ORSTRAND   Boardmember

WALTER GALILEO PIVA   Boardmember

PER VALTER JOAKIM KARLSSON   Boardmember

 

 

Auditor 

 

P!ER M!ANSSON   Auditor

 

 

Management   

 

S!OREN ANDERSSON   Managing director

 

 

Ultimate parent company

 

5566856240   BUFAB HOLDING AB   

 

 

Parent company

 

5561944884   BULT FINNVEDEN AB (BUFAB)   100 %   

                                                          

 

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 April 1987

all debentures and debenture mortgages taken out.  22000000 

 

 

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

 

Plant, machinery and equipment

13.853.000,-

Total tangible fixed assets

14.260.000,-

Total fixed assets

14.260.000,-

Inventories and work in progress (incl. prepayments)

49.961.000,-

Accounts receivable (trade)

17.876.000,-

Receivables from affiliates and companies in which participations are held

6.558.000,-

Cash in hand and at bank

5.000,-

Total Current assets

75.763.000,-

Total assets incl. prepaid expenses and accrued income

90.023.000,-

Issued (subscribed) capital

7.900.000,-

Statutory reserves

2.000.000,-

Profit or loss carried forward

3.000,-

Profit or loss for the financial year

11.450.000,-

Total equity (Shareholders' funds)

9.905.000,-

Total provisions

7.103.000,-

Current accounts payable (trade)

19.264.000,-

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

3.897.000,-

Total current liabilities

65.299.000,-

Total liabilities

65.299.000,-

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

90.023.000,-

Number of employees

77,-

Salaries board/Managing Director

834.000,-

Salaries to others

21.807.000,-

Total salaries

22.641.000,-

Total salaries and remunerations

22.641.000,-

Social security expenses

9.219.000,-

Unspecified depreciations

2.925.000,-

Other contingent liabilities

167.000,-

Total contingent liabilities.

167.000,-

Equity/assets ratio

17,-

Acid-test ratio

39,-

Return on assets

18,-

Average interest on debt

-1,-

Cash flow as percentage of total liabilities

19,-

Debt/equity ratio

488,-

Current ratio

116,-

Return on equity

102,-

Self-financing rate

1.569,-

Interest coverage ratio

14,-

Inventory turnover rate (times/year)

3,-

Risk buffer

17,-

Labour costs as percentage of turnover

-13,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

6,-

Accounts receivable as percentage of turnover

10,-

Inventory as percentage of turnover

29,-

Current liabilities as percentage of turnover

38,-

Credit period granted

23,-

Turnover per employee in SEK thousands

2.201.000,-

Cash flow as percentage of financial expenses

1.250,-

Solvency margin

19,-

Tangible fixed assets structure

100,-

Risk ratio

1,-

Credit period received

29,-

Gross margin

11,-

Operating margin

9,-

Net margin

9,-

 

 

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

 

Plant, machinery and equipment

12.829.000,-

Total tangible fixed assets

13.360.000,-

Total fixed assets

13.360.000,-

Inventories and work in progress (incl. prepayments)

34.064.000,-

Accounts receivable (trade)

14.400.000,-

Receivables from affiliates and companies in which participations are held

7.722.000,-

Cash in hand and at bank

8.000,-

Total Current assets

59.466.000,-

Total assets incl. prepaid expenses and accrued income

72.826.000,-

Issued (subscribed) capital

7.900.000,-

Statutory reserves

2.000.000,-

Profit or loss carried forward

-8.590.000,-

Profit or loss for the financial year

8.593.000,-

Total equity (Shareholders' funds)

9.903.000,-

Total provisions

7.321.000,-

Current accounts payable (trade)

20.224.000,-

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

22.355.000,-

Total current liabilities

47.637.000,-

Total liabilities

47.637.000,-

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

72.826.000,-

Number of employees

66,-

Salaries board/Managing Director

552.000,-

Salaries to others

17.760.000,-

Total salaries

18.312.000,-

Bonus board/Managing Director

116.000,-

Total salaries and remunerations

18.428.000,-

Social security expenses

7.099.000,-

Unspecified depreciations

3.087.000,-

Other contingent liabilities

171.000,-

Total contingent liabilities.

171.000,-

Equity/assets ratio

21,-

Acid-test ratio

53,-

Return on assets

15,-

Cash flow as percentage of total liabilities

19,-

Debt/equity ratio

370,-

Current ratio

124,-

Return on equity

70,-

Interest coverage ratio

34,-

Inventory turnover rate (times/year)

3,-

Risk buffer

14,-

Labour costs as percentage of turnover

-16,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

10,-

Accounts receivable as percentage of turnover

12,-

Inventory as percentage of turnover

30,-

Current liabilities as percentage of turnover

42,-

Credit period granted

29,-

Turnover per employee in SEK thousands

1.686.000,-

Cash flow as percentage of financial expenses

3.258,-

Solvency margin

24,-

Tangible fixed assets structure

100,-

Risk ratio

1,-

Credit period received

29,-

Gross margin

12,-

Operating margin

10,-

Net margin

9,-

 

 

 

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

 

Plant, machinery and equipment

12.774.000,-

Total tangible fixed assets

14.711.000,-

Total fixed assets

14.711.000,-

Inventories and work in progress (incl. prepayments)

18.881.000,-

Accounts receivable (trade)

11.786.000,-

Receivables from affiliates and companies in which participations are held

5.230.000,-

Cash in hand and at bank

3.000,-

Total Current assets

36.526.000,-

Total assets incl. prepaid expenses and accrued income

51.237.000,-

Issued (subscribed) capital

7.900.000,-

Statutory reserves

2.000.000,-

Profit or loss carried forward

3.000,-

Profit or loss for the financial year

8.879.000,-

Total equity (Shareholders' funds)

9.903.000,-

Total provisions

7.486.000,-

Current accounts payable (trade)

5.683.000,-

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

13.869.000,-

Total current liabilities

24.859.000,-

Total liabilities

24.859.000,-

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

51.237.000,-

Number of employees

66,-

Salaries board/Managing Director

552.000,-

Salaries to others

16.567.000,-

Total salaries

17.119.000,-

Bonus board/Managing Director

74.000,-

Total salaries and remunerations

17.193.000,-

Social security expenses

7.296.000,-

Unspecified depreciations

3.802.000,-

Other contingent liabilities

175.000,-

Total contingent liabilities.

175.000,-

Equity/assets ratio

31,-

Acid-test ratio

70,-

Return on assets

23,-

Average interest on debt

-1,-

Cash flow as percentage of total liabilities

36,-

Debt/equity ratio

216,-

Current ratio

146,-

Return on equity

71,-

Interest coverage ratio

29,-

Inventory turnover rate (times/year)

5,-

Risk buffer

22,-

Labour costs as percentage of turnover

-17,-

Capital turnover rate (times/year)

1,-

Working capital as percentage of turnover

11,-

Accounts receivable as percentage of turnover

11,-

Inventory as percentage of turnover

18,-

Current liabilities as percentage of turnover

24,-

Credit period granted

14,-

Turnover per employee in SEK thousands

1.530.000,-

Cash flow as percentage of financial expenses

2.889,-

Solvency margin

36,-

Tangible fixed assets structure

100,-

Risk ratio

1,-

Credit period received

16,-

Gross margin

15,-

Operating margin

11,-

Net margin

11,-

 

 

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

 

Main revenue (sales/turnover)

169.503.000,-

Total operating income/revenue

169.503.000,-

Cost of materials (type of expenditure format)

-141.766.000,-

Total operating expenses

-152.675.000,-

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

27.737.000,-

Depreciations

-2.925.000,-

Operating profit or loss

16.828.000,-

Financial income

15.000,-

Financial expenses

-1.130.000,-

Result of ordinary operations

15.713.000,-

Pre-tax and pre-appropriation profit or loss

15.713.000,-

Appropriations

249.000,-

Taxes

-4.512.000,-

Net profit or loss

11.450.000,-

 

 

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

 

Main revenue (sales/turnover)

111.317.000,-

Total operating income/revenue

111.317.000,-

Cost of materials (type of expenditure format)

-93.239.000,-

Total operating expenses

-100.122.000,-

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

18.078.000,-

Depreciations

-3.087.000,-

Operating profit or loss

11.195.000,-

Financial income

82.000,-

Financial expenses

-327.000,-

Result of ordinary operations

10.950.000,-

Pre-tax and pre-appropriation profit or loss

10.950.000,-

Appropriations

1.024.000,-

Taxes

-3.381.000,-

Net profit or loss

8.593.000,-

 

 

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

 

Main revenue (sales/turnover)

101.025.000,-

Total operating income/revenue

101.025.000,-

Cost of materials (type of expenditure format)

-83.396.000,-

Total operating expenses

-89.123.000,-

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

17.629.000,-

Depreciations

-3.802.000,-

Operating profit or loss

11.902.000,-

Financial income

36.000,-

Financial expenses

-407.000,-

Result of ordinary operations

11.531.000,-

Pre-tax and pre-appropriation profit or loss

11.531.000,-

Appropriations

919.000,-

Taxes

-3.571.000,-

Net profit or loss

8.879.000,-

 

Turnover for the period: 01 January 2007 - 31 December 2007  in  SEK 169.503.000,00

 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 111.317.000,00

 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 101.025.000,00

 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.42.30

UK Pound

1

Rs.84.03

Euro

1

Rs.66.42

 

 

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