MIRA INFORM REPORT

 

 

Report Date :

29.05.2008

 

IDENTIFICATION DETAILS

 

Name :

BT PRODUCTS AB

 

 

Registered Office :

59581 Mjölby

 

 

Country :

Sweden

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

07.11. 1978

 

 

Com. Reg. No.:

5561982868

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of Central Heating Radiators and Boilers

 

 

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

 

BT PRODUCTS AB

59581 Mjölby SE

Tel. Number +46-142-86000

 

 

 

Business registered

07 November 1978 - Private limited company (no information regarding quotation)

Registration number,

5561982868,

Tax number :,

SE556198286801,

Legal form

Private limited company (no information regarding quotation)

Activities

Manufacture of central heating radiators and boilers

 

No Match!

Credit opinion

High creditworthiness

 

Maximum credit limit 10000000 SEK is advised

Employees (Business)

 1310

Total share capital

SEK 11000000

Board members

PER ZAUNDERS   Board member

 

BO CHRISTER H!OGBERG   Board member

 

CLAES PALM   Board member

 

RAYNER FREDRIKSSON   Employer representative

 

JONAS LARSSON   Employer representative

 

INGELA JONSSON   Deputy employer representative

 

MAGNUS TENGVERT   Deputy employer representative

Auditor

!OHRLINGS PRICEWATERHOUSECOOPERS AB   Auditor

Management

H!AKAN SCHILL   Managing director

Ultimate parent company:

5565883534   TOYOTA INDUSTRIES EUROPE AB   

Parent company :

5564919537   TOYOTA INDUSTRIES SWEDEN AB   100 %   

 

 

 

 

 

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 December 1990

all debentures and debenture mortgages taken out.  137000000 

 

Corporate balance sheet for the year: 01 January 2006 - 31 March 2007  in  SEK 

Plant, machinery and equipment

310.393.000,-

Total tangible fixed assets

335.188.000,-

Total financial fixed assets

500.000,-

Total fixed assets

335.688.000,-

Inventories and work in progress (incl. prepayments)

211.346.000,-

Accounts receivable (trade)

113.281.000,-

Receivables from affiliates and companies in which participations are held

450.871.000,-

Cash in hand and at bank

1.131.000,-

Total Current assets

840.858.000,-

Total assets incl. prepaid expenses and accrued income

1.176.546.000,-

Issued (subscribed) capital

11.000.000,-

Statutory reserves

7.800.000,-

Profit or loss carried forward

88.423.000,-

Profit or loss for the financial year

212.470.000,-

Total equity (Shareholders' funds)

319.693.000,-

Total provisions

81.163.000,-

Current accounts payable (trade)

319.679.000,-

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

12.449.000,-

Total current liabilities

661.707.000,-

Total liabilities

661.707.000,-

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

1.176.546.000,-

Number of employees

1.310,-

Salaries board/Managing Director

17.000,-

Salaries to others

491.412.000,-

Total salaries

491.429.000,-

Total salaries and remunerations

491.429.000,-

Social security expenses

211.649.000,-

Unspecified depreciations

92.068.000,-

Other contingent liabilities

3.007.000,-

Total contingent liabilities.

3.007.000,-

Equity/assets ratio

33,-

Acid-test ratio

95,-

Return on assets

23,-

Cash flow as percentage of total liabilities

35,-

Debt/equity ratio

195,-

Current ratio

127,-

Return on equity

66,-

Self-financing rate

332,-

Interest coverage ratio

40,-

Inventory turnover rate (times/year)

18,-

Risk buffer

22,-

Labour costs as percentage of turnover

-10,-

Capital turnover rate (times/year)

3,-

Working capital as percentage of turnover

4,-

Accounts receivable as percentage of turnover

2,-

Inventory as percentage of turnover

5,-

Current liabilities as percentage of turnover

17,-

Credit period granted

6,-

Turnover per employee in SEK thousands

2.920.000,-

Cash flow as percentage of financial expenses

3.915,-

Solvency margin

36,-

Tangible fixed assets structure

99,-

Credit period received

18,-

Gross margin

8,-

Operating margin

7,-

Net margin

6,-

 

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

Total intangible fixed assets

649.000,-

Plant, machinery and equipment

242.471.000,-

Total tangible fixed assets

255.096.000,-

Total financial fixed assets

500.000,-

Total fixed assets

256.245.000,-

Inventories and work in progress (incl. prepayments)

218.193.000,-

Accounts receivable (trade)

97.773.000,-

Receivables from affiliates and companies in which participations are held

386.298.000,-

Cash in hand and at bank

1.757.000,-

Total Current assets

761.633.000,-

Total assets incl. prepaid expenses and accrued income

1.017.878.000,-

Issued (subscribed) capital

11.000.000,-

Statutory reserves

7.800.000,-

Profit or loss carried forward

-115.241.000,-

Profit or loss for the financial year

203.665.000,-

Total equity (Shareholders' funds)

107.224.000,-

Total provisions

64.983.000,-

Current accounts payable (trade)

257.673.000,-

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

293.588.000,-

Total current liabilities

757.559.000,-

Total liabilities

757.559.000,-

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

1.017.878.000,-

Number of employees

1.194,-

Salaries board/Managing Director

8.000,-

Salaries to others

346.245.000,-

Total salaries

346.253.000,-

Total salaries and remunerations

346.253.000,-

Social security expenses

144.994.000,-

Unspecified depreciations

64.163.000,-

Other contingent liabilities

2.769.000,-

Total contingent liabilities.

2.769.000,-

Equity/assets ratio

16,-

Acid-test ratio

71,-

Return on assets

29,-

Cash flow as percentage of total liabilities

33,-

Debt/equity ratio

503,-

Current ratio

100,-

Return on equity

172,-

Self-financing rate

1.067,-

Interest coverage ratio

56,-

Inventory turnover rate (times/year)

14,-

Risk buffer

28,-

Labour costs as percentage of turnover

-10,-

Capital turnover rate (times/year)

3,-

Accounts receivable as percentage of turnover

3,-

Inventory as percentage of turnover

6,-

Current liabilities as percentage of turnover

23,-

Credit period granted

6,-

Turnover per employee in SEK thousands

2.688.000,-

Cash flow as percentage of financial expenses

5.264,-

Solvency margin

19,-

Tangible fixed assets structure

99,-

Risk ratio

2,-

Credit period received

18,-

Gross margin

11,-

Operating margin

9,-

Net margin

9,-

 

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

Total intangible fixed assets

1.357.000,-

Plant, machinery and equipment

225.246.000,-

Total tangible fixed assets

228.073.000,-

Total financial fixed assets

973.000,-

Total fixed assets

230.403.000,-

Inventories and work in progress (incl. prepayments)

182.789.000,-

Accounts receivable (trade)

77.768.000,-

Receivables from affiliates and companies in which participations are held

335.431.000,-

Cash in hand and at bank

1.844.000,-

Total Current assets

679.413.000,-

Total assets incl. prepaid expenses and accrued income

909.816.000,-

Issued (subscribed) capital

11.000.000,-

Statutory reserves

7.800.000,-

Profit or loss carried forward

142.392.000,-

Profit or loss for the financial year

137.942.000,-

Total equity (Shareholders' funds)

107.967.000,-

Total provisions

58.000.000,-

Current accounts payable (trade)

215.820.000,-

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

199.641.000,-

Total current liabilities

663.800.000,-

Total liabilities

663.800.000,-

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

909.816.000,-

Number of employees

1.140,-

Salaries board/Managing Director

1.935.000,-

Salaries to others

320.742.000,-

Total salaries

322.677.000,-

Total salaries and remunerations

322.677.000,-

Social security expenses

139.881.000,-

Unspecified depreciations

53.952.000,-

Other contingent liabilities

2.643.000,-

Total contingent liabilities.

2.643.000,-

Equity/assets ratio

18,-

Acid-test ratio

74,-

Return on assets

22,-

Cash flow as percentage of total liabilities

28,-

Debt/equity ratio

455,-

Current ratio

102,-

Return on equity

123,-

Self-financing rate

628,-

Interest coverage ratio

43,-

Inventory turnover rate (times/year)

14,-

Risk buffer

22,-

Labour costs as percentage of turnover

-11,-

Capital turnover rate (times/year)

2,-

Accounts receivable as percentage of turnover

2,-

Inventory as percentage of turnover

6,-

Current liabilities as percentage of turnover

24,-

Credit period granted

7,-

Turnover per employee in SEK thousands

2.369.000,-

Cash flow as percentage of financial expenses

4.268,-

Solvency margin

20,-

Tangible fixed assets structure

98,-

Risk ratio

2,-

Credit period received

16,-

Gross margin

9,-

Operating margin

7,-

Net margin

7,-

 

Corporate profit and loss account for the year: 01 January 2006 - 31 March 2007  in  SEK 

Main revenue (sales/turnover)

4.774.895.000,-

Total operating income/revenue

4.782.235.000,-

Cost of materials (type of expenditure format)

-4.136.242.000,-

Total operating expenses

-4.444.388.000,-

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

638.653.000,-

Depreciations

-92.068.000,-

Operating profit or loss

337.847.000,-

Financial income

564.000,-

Financial expenses

-8.438.000,-

Result of ordinary operations

329.973.000,-

Pre-tax and pre-appropriation profit or loss

329.973.000,-

Appropriations

-25.871.000,-

Taxes

-91.632.000,-

Net profit or loss

212.470.000,-

 

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

Main revenue (sales/turnover)

3.206.521.000,-

Total operating income/revenue

3.210.114.000,-

Cost of materials (type of expenditure format)

-2.686.178.000,-

Total operating expenses

-2.914.247.000,-

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

520.343.000,-

Depreciations

-64.163.000,-

Operating profit or loss

295.867.000,-

Financial income

524.000,-

Financial expenses

-5.241.000,-

Result of ordinary operations

291.150.000,-

Pre-tax and pre-appropriation profit or loss

291.150.000,-

Appropriations

-8.063.000,-

Taxes

-79.422.000,-

Net profit or loss

203.665.000,-

 

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

Main revenue (sales/turnover)

2.697.319.000,-

Total operating income/revenue

2.701.309.000,-

Cost of materials (type of expenditure format)

-2.306.112.000,-

Total operating expenses

-2.494.029.000,-

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

391.207.000,-

Depreciations

-53.952.000,-

Operating profit or loss

207.280.000,-

Financial income

835.000,-

Financial expenses

-4.758.000,-

Result of ordinary operations

203.357.000,-

Pre-tax and pre-appropriation profit or loss

203.357.000,-

Appropriations

-11.210.000,-

Taxes

-54.205.000,-

Net profit or loss

137.942.000,-

 

Turnover for the period: 01 January 2006 - 31 March 2007  in  SEK 4.782.235.000,00

 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 3.210.114.000,00

 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 2.701.309.000,00

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

 

 

 

 

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