MIRA INFORM REPORT

 

 

 

Report Date :

28.07.2008

 

IDENTIFICATION DETAILS

 

Name :

FAMECO GROUP AB

 

 

Registered Office :

Box 68 33033 Hillerstorp 

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

12.02.1981

 

 

Com. Reg. No.:

5562086313

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Supplier 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 250000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

name & address

 

FAMECO GROUP AB

 BOX 68

 33033 HILLERSTORP SE

Tel. Number +46-370-25800

 

 

Business registered

 

12 February 1981 - Private limited company (no information regarding quotation)

 

 

Registration number

 

5562086313,

 

 

Tax number 

 

SE556208631301,

 

 

Legal form

 

Private limited company (no information regarding quotation)

 

 

Activities

 

Supplier of fasteners.

 

 

Credit opinion

 

Maximum credit limit 250000 SEK is advised

 

 

Employees (Business)

 

 11

 

 

 

 

Total share capital

 

SEK 150000

 

 

Boardmembers

 

STEN OLOV GUNNAR LANGENIUS   Boardmember

 

LARS ABRAHAMSON   Boardmember

 

TORBJ!ORN CARDELL   Boardmember

 

 

Auditor

 

KARIN GRANN   Auditor

 

 

Management

 

GUNNAR ANDERSSON   Managing director

Parent company :

5566571088   FAMECO HOLDING AB   100 %   

 

 

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 June 2008

all debentures and debenture mortgages taken out.  31600000 

 

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  28594000  rateable (taxable) value

 

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

Metal and machinery industry  15577000  rateable (taxable) value

Metal and machinery industry  10369000  rateable (taxable) value

 

 

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

 

Total intangible fixed assets

1.224.000,-

Plant, machinery and equipment

964.000,-

Total tangible fixed assets

964.000,-

Loans, shares and participations

85.960.000,-

Total financial fixed assets

85.960.000,-

Total fixed assets

88.148.000,-

Receivables from affiliates and companies in which participations are held

108.000,-

Investments (short-term)

62.516.000,-

Cash in hand and at bank

36.000,-

Total Current assets

67.029.000,-

Total assets incl. prepaid expenses and accrued income

155.177.000,-

Issued (subscribed) capital

150.000,-

Statutory reserves

30.000,-

Profit or loss carried forward

32.084.000,-

Profit or loss for the financial year

-11.309.000,-

Total equity (Shareholders' funds)

49.155.000,-

Long-term liabilities to credit institutions

66.500.000,-

Bank overdraft granted of which bank overdraft utilized

3.018.000,-

Total long-term liabilities

66.500.000,-

Current liabilities to credit institutions

11.018.000,-

Current accounts payable (trade)

1.149.000,-

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

3.500.000,-

Total current liabilities

25.305.000,-

Total liabilities

91.805.000,-

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

155.177.000,-

Number of employees

11,-

Salaries to others

5.188.000,-

Total salaries

5.188.000,-

Total salaries and remunerations

5.188.000,-

Social security expenses

3.048.000,-

Unspecified depreciations

195.000,-

Unspecified depreciations of which sell costs

195.000,-

Bank overdraft granted

3.000.000,-

Floating charges

6.400.000,-

Other pledges

85.960.000,-

Total pledged assets

92.360.000,-

Other contingent liabilities

35.000,-

Total contingent liabilities.

35.000,-

Equity/assets ratio

38,-

Acid-test ratio

264,-

Return on assets

-3,-

Average interest on debt

-5,-

Cash flow as percentage of total liabilities

-6,-

Debt/equity ratio

163,-

Current ratio

264,-

Return on equity

-17,-

Self-financing rate

-349,-

Interest coverage ratio

-1,-

Risk buffer

-8,-

Labour costs as percentage of turnover

-36,-

Working capital as percentage of turnover

296,-

Current liabilities as percentage of turnover

179,-

Turnover per employee in SEK thousands

1.278.000,-

Cash flow as percentage of financial expenses

-122,-

Solvency margin

40,-

Structure of financial fixed assets

97,-

Intangible fixed assets structure

1,-

Tangible fixed assets structure

1,-

Credit period received

14,-

Gross margin

-52,-

Operating margin

-54,-

Net margin

-75,-

 

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

 

Plant, machinery and equipment

410.000,-

Total tangible fixed assets

410.000,-

Loans, shares and participations

85.960.000,-

Total financial fixed assets

85.960.000,-

Total fixed assets

86.370.000,-

Accounts receivable (trade)

75.000,-

Receivables from affiliates and companies in which participations are held

91.000,-

Investments (short-term)

62.005.000,-

Total Current assets

62.887.000,-

Total assets incl. prepaid expenses and accrued income

149.257.000,-

Issued (subscribed) capital

150.000,-

Statutory reserves

30.000,-

Profit or loss carried forward

50.981.000,-

Profit or loss for the financial year

-7.101.000,-

Total equity (Shareholders' funds)

44.060.000,-

Long-term liabilities to credit institutions

74.500.000,-

Bank overdraft granted of which bank overdraft utilized

1.372.000,-

Total long-term liabilities

74.500.000,-

Current liabilities to credit institutions

7.372.000,-

Current accounts payable (trade)

507.000,-

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

4.600.000,-

Total current liabilities

21.380.000,-

Total liabilities

95.880.000,-

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

149.257.000,-

Number of employees

3,-

Salaries to others

1.874.000,-

Total salaries

1.874.000,-

Total salaries and remunerations

1.874.000,-

Social security expenses

1.129.000,-

Dividend

3.900.000,-

Unspecified depreciations

106.000,-

Unspecified depreciations of which sell costs

106.000,-

Bank overdraft granted

5.000.000,-

Other pledges

85.960.000,-

Total pledged assets

85.960.000,-

Other contingent liabilities

35.000,-

Total contingent liabilities.

35.000,-

Equity/assets ratio

33,-

Acid-test ratio

294,-

Return on assets

-1,-

Average interest on debt

-2,-

Cash flow as percentage of total liabilities

-2,-

Debt/equity ratio

195,-

Current ratio

294,-

Return on equity

-9,-

Self-financing rate

-686,-

Interest coverage ratio

-1,-

Risk buffer

-4,-

Labour costs as percentage of turnover

-22,-

Working capital as percentage of turnover

494,-

Current liabilities as percentage of turnover

254,-

Credit period granted

7,-

Turnover per employee in SEK thousands

2.800.000,-

Cash flow as percentage of financial expenses

-93,-

Solvency margin

35,-

Structure of financial fixed assets

99,-

Credit period received

14,-

Gross margin

-33,-

Operating margin

-34,-

Net margin

-58,-

 

 

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

 

Plant, machinery and equipment

164.000,-

Total tangible fixed assets

164.000,-

Loans, shares and participations

85.894.000,-

Total financial fixed assets

85.894.000,-

Total fixed assets

86.058.000,-

Accounts receivable (trade)

414.000,-

Investments (short-term)

43.150.000,-

Cash in hand and at bank

2.000,-

Total Current assets

43.931.000,-

Total assets incl. prepaid expenses and accrued income

129.989.000,-

Issued (subscribed) capital

150.000,-

Statutory reserves

30.000,-

Profit or loss carried forward

24.242.000,-

Profit or loss for the financial year

-4.617.000,-

Total equity (Shareholders' funds)

33.881.000,-

Long-term liabilities to credit institutions

80.500.000,-

Bank overdraft granted of which bank overdraft utilized

4.674.000,-

Total long-term liabilities

80.500.000,-

Current liabilities to credit institutions

6.174.000,-

Current accounts payable (trade)

467.000,-

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

157.000,-

Total current liabilities

11.144.000,-

Total liabilities

91.644.000,-

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

129.989.000,-

Number of employees

3,-

Salaries board/Managing Director

942.000,-

Salaries to others

1.050.000,-

Total salaries

1.992.000,-

Bonus board/Managing Director

270.000,-

Total salaries and remunerations

2.262.000,-

Social security expenses

1.536.000,-

Unspecified depreciations

67.000,-

Unspecified depreciations of which admin costs

67.000,-

Bank overdraft granted

7.000.000,-

Other pledges

85.894.000,-

Total pledged assets

85.894.000,-

Other contingent liabilities

35.000,-

Total contingent liabilities.

35.000,-

Equity/assets ratio

28,-

Acid-test ratio

394,-

Debt/equity ratio

251,-

Current ratio

394,-

Return on equity

-5,-

Self-financing rate

-1.000,-

Interest coverage ratio

-1,-

Risk buffer

-1,-

Labour costs as percentage of turnover

-26,-

Working capital as percentage of turnover

390,-

Accounts receivable as percentage of turnover

4,-

Current liabilities as percentage of turnover

132,-

Credit period granted

6,-

Turnover per employee in SEK thousands

2.800.000,-

Cash flow as percentage of financial expenses

-19,-

Solvency margin

29,-

Structure of financial fixed assets

99,-

Credit period received

18,-

Gross margin

-15,-

Operating margin

-15,-

Net margin

-23,-

 

 

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

 

Main revenue (sales/turnover)

14.064.000,-

Total operating income/revenue

14.064.000,-

Total operating expenses

-21.695.000,-

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

14.064.000,-

Depreciations

-195.000,-

Operating profit or loss

-7.631.000,-

Financial income

2.126.000,-

Financial expenses

-5.082.000,-

Result of ordinary operations

-10.587.000,-

Pre-tax and pre-appropriation profit or loss

-10.587.000,-

Appropriations

-4.901.000,-

Taxes

4.179.000,-

Net profit or loss

-11.309.000,-

 

 

 

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

 

Main revenue (sales/turnover)

8.400.000,-

Total operating income/revenue

8.400.000,-

Total operating expenses

-11.326.000,-

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

8.400.000,-

Depreciations

-106.000,-

Operating profit or loss

-2.926.000,-

Financial income

314.000,-

Financial expenses

-2.285.000,-

Result of ordinary operations

-4.897.000,-

Pre-tax and pre-appropriation profit or loss

-4.897.000,-

Appropriations

-4.852.000,-

Taxes

2.648.000,-

Net profit or loss

-7.101.000,-

 

 

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

 

Main revenue (sales/turnover)

8.400.000,-

Total operating income/revenue

8.400.000,-

Total operating expenses

-9.734.000,-

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

8.400.000,-

Depreciations

-67.000,-

Operating profit or loss

-1.334.000,-

Financial income

42.000,-

Financial expenses

-660.000,-

Result of ordinary operations

-1.952.000,-

Pre-tax and pre-appropriation profit or loss

-1.952.000,-

Appropriations

-4.420.000,-

Taxes

1.755.000,-

Net profit or loss

-4.617.000,-

 

Turnover for the period: 01 January 2007 - 31 December 2007  in  SEK 14.064.000,00

 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 8.400.000,00

 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 8.400.000,00

 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