MIRA
INFORM REPORT
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Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
OUTOKUMPU
STAINLESS OY |
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Registered Office : |
Tornio Works
95400 Tornio |
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Country : |
Finland |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.01.1991 |
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Com. Reg. No.: |
08233159 |
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Legal Form : |
Private Joint-Stock Company |
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Line of Business : |
Manufacture of Basic Iron and Steel and of Ferro-Alloys (ECSC) |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
EUR 15000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
OUTOKUMPU
STAINLESS OY
TORNIO WORKS
95400 TORNIO FI
Tel. Number
+358-16-4521
Fax number
+358-16-452620
web-address WWW.OUTOKUMPU.COM
summary
Business founded 01 January 1991
Business
registered 21 November
1990 - Private joint-stock company
Tax number :, 08233159,
Registration
number, 08233159,
Trade name, OUTOKUMPU TORNIO
WORKS,
Registration
address, TORNION TEHTAAT,
TORNIO, 95400, FI
Visiting address, TORNIO WORKS, TORNIO,
95400, FI
Delivery address, TORNIO WORKS, TORNIO,
95400, FI
Legal form Private
joint-stock company
Activities
Manufacture of
basic iron and steel and of ferro-alloys (ECSC)
Payment experience
Payment regular
Credit opinion
High
creditworthiness
Maximum credit
limit 15000000 EUR is advised
Employees (Business)
2185
Total share capital
21 November 1990 EUR 78120000
Management
PIHKO ANTTI ESKO YRJ!EN!E Managing director
Board members
ERKKIL!E PEKKA
TUOMAS Chairman of the board
KEMPPAINEN JORMA
HEIKKI OLAVI Board member
AIKIO MARIA HANNELE Board
member
JAAKO SAKARI
JUHANI Board member
VIINIKKA ASKO
OLAVI Board member
SUURN!EKKI MATTI
ANTERO Board member
TUUNAINEN RAIJA
HELENA Deputy board member
OLLILA KOSTI
KALERVO Deputy board member
SALO PAAVO
SAKARI Deputy board member
DOKTARE ERKKI
JUHANI Deputy board member
PELTTARI ARVO
JUHANI Deputy board member
PALOKANGAS JARI
OLAVI Deputy board member
(Part-) Owner
08233124 OUTOKUMPU
STAINLESS
TEEL
OY 100,0 % Main shareholder
Parent company
08233124 OUTOKUMPU
STAINLESS STEEL OY 100,0 %
Ultimate parent company:
02152542 OUTOKUMPU
OYJ
Auditor
PALVI MAURI
JUHA Auditor
KPMG OY
AB Auditor
Bank
NORDEA PANKKI
SUOMI OYJ,
Subsidiary company.
01933734 OUTOKUMPU
SHIPPING OY,R!OYTT!EN SATAMA,95450,TORNIO,FI 100,0
%
OUTOKUMPU
STAINLESS B.V. 100,0 %
Sister company
07727683 OUTOKUMPU
CHROME OY,,95400,TORNIO,FI
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The business
have taken out debentures and /or debenture mortgages? No (mortgages/Debentures)
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Corporate
balance sheet/profit and loss account for the year: 01 January 2007 - 31
December 2007 in EUR |
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Total assets incl. prepaid expenses and accrued income |
2.211.551.050,- |
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Total fixed assets |
1.110.786.270,- |
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Total intangible fixed assets |
870.676,- |
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Concessions and industrial rights, goodwill |
8.979.864,- |
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Total tangible fixed assets |
1.089.624.849,- |
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Land and buildings |
369.858.597,- |
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Plant, machinery and equipment |
719.766.252,- |
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Total financial fixed assets |
11.310.881,- |
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Investments (long-term) |
11.310.881,- |
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Total Current assets |
1.100.764.772,- |
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Inventories and work in progress (incl. prepayments) |
577.643.615,- |
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Accounts receivable (trade) |
522.797.285,- |
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Cash in hand and at bank |
323.872,- |
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Total equity, provisions, liabilities, accrued expenses and deferred
income |
2.211.551.050,- |
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Total equity (Shareholders' funds) |
717.688.122,- |
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Issued (subscribed) capital |
78.120.000,- |
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Share premium account (capital reserve) |
174.897.339,- |
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Share premium account |
174.897.339,- |
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Statutory reserves |
483.058.160,- |
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Legal reserves |
13.279.758,- |
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Profit or loss for the previous year |
-53.202.673,- |
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Profit or loss for the financial year |
21.535.538,- |
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Total liabilities |
1.493.862.826,- |
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Total long-term liabilities |
506.750.000,- |
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Long-term Loans, Mortgage debts |
506.750.000,- |
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Total current liabilities |
987.112.826,- |
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Current liabilities to credit institutions |
957.964.117,- |
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Income and social tax liabilities |
29.148.709,- |
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Total operating income/revenue |
3.395.239.167,- |
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Main revenue (sales/turnover) |
3.395.239.167,- |
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Total operating expenses |
3.274.463.302,- |
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Operating profit or loss |
120.775.863,- |
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Financial income |
2.089.917,- |
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Financial expenses |
51.737.225,- |
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Result of ordinary operations |
71.128.585,- |
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Extraordinary expenses |
49.806.000,- |
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Pre-tax and pre-appropriation profit or loss |
21.322.555,- |
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Appropriations |
213.144,- |
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Taxes |
160,- |
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Net profit or loss |
21.535.538,- |
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Borrowing ratio |
215,08 % |
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Current ratio |
111,51 % |
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Debt gearing |
71,94 % |
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Profit margin. |
3,62 % |
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Quick ratio |
53 % |
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Return on assets |
5,59 % |
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Return on equity. |
10,1 % |
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Solidity or equity ratio |
31,85 % |
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Change in turnover % |
3,- |
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Turnover per person: |
1.553.885,- |
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Trading profit % |
4,- |
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Return on investment % |
6,- |
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Return on capital % |
5,- |
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Quick ratio |
1,- |
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Current ratio |
1,- |
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Equity ratio |
32,- |
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Working capital % |
19,- |
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Inventories/turnover % |
17,- |
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Accounts receivable turnover in days |
39,- |
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Corporate
balance sheet/profit and loss account for the year: 01 January 2006 - 31
December 2006 in EUR |
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Total assets incl. prepaid expenses and accrued income |
2.467.927.228,- |
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Total fixed assets |
1.176.752.561,- |
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Total intangible fixed assets |
966.576,- |
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Concessions and industrial rights, goodwill |
12.256.840,- |
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Total tangible fixed assets |
1.153.096.636,- |
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Land and buildings |
379.015.395,- |
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Plant, machinery and equipment |
774.081.241,- |
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Total financial fixed assets |
10.432.509,- |
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Investments (long-term) |
10.432.509,- |
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Total Current assets |
1.291.174.660,- |
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Inventories and work in progress (incl. prepayments) |
546.291.309,- |
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Accounts receivable (trade) |
744.306.379,- |
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Investments (short-term) |
230.510,- |
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Cash in hand and at bank |
346.462,- |
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Total equity, provisions, liabilities, accrued expenses and deferred
income |
2.467.927.228,- |
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Total equity (Shareholders' funds) |
698.149.768,- |
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Issued (subscribed) capital |
78.120.000,- |
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Share premium account (capital reserve) |
174.897.339,- |
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Share premium account |
174.897.339,- |
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Statutory reserves |
483.271.304,- |
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Legal reserves |
15.063.799,- |
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Profit or loss for the previous year |
-125.644.143,- |
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Profit or loss for the financial year |
72.441.469,- |
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Total liabilities |
1.769.777.457,- |
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Total long-term liabilities |
359.575.000,- |
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Long-term Loans, Mortgage debts |
359.575.000,- |
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Total current liabilities |
1.410.202.457,- |
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Current liabilities to credit institutions |
1.356.173.335,- |
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Income and social tax liabilities |
54.029.122,- |
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Total operating income/revenue |
3.292.017.551,- |
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Main revenue (sales/turnover) |
3.292.017.551,- |
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Total operating expenses |
2.937.529.056,- |
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Operating profit or loss |
354.488.493,- |
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Financial income |
1.156.127,- |
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Financial expenses |
48.413.806,- |
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Result of ordinary operations |
307.230.678,- |
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Extraordinary expenses |
217.078.000,- |
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Pre-tax and pre-appropriation profit or loss |
90.152.814,- |
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Appropriations |
-17.711.344,- |
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Net profit or loss |
72.441.469,- |
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Borrowing ratio |
264,2 % |
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Current ratio |
91,56 % |
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Debt gearing |
52,64 % |
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Profit margin. |
10,8 % |
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Quick ratio |
52,82 % |
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Return on assets |
14,5 % |
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Return on equity. |
44,98 % |
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Solidity or equity ratio |
27,68 % |
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Change in turnover % |
45,- |
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Turnover per person: |
1.521.968,- |
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Trading profit % |
11,- |
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Return on investment % |
19,- |
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Return on capital % |
16,- |
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Quick ratio |
1,- |
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Current ratio |
1,- |
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Equity ratio |
28,- |
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Working capital % |
27,- |
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Inventories/turnover % |
17,- |
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Accounts receivable turnover in days |
77,- |
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Corporate balance
sheet/profit and loss account for the year: 01 January 2005 - 31
December 2005 in EUR |
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Total assets incl. prepaid expenses and accrued income |
1.963.121.000,- |
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Total fixed assets |
1.217.792.000,- |
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Total intangible fixed assets |
208.000,- |
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Concessions and industrial rights, goodwill |
15.802.000,- |
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Total tangible fixed assets |
1.191.182.000,- |
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Land and buildings |
399.079.000,- |
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Plant, machinery and equipment |
792.103.000,- |
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Total financial fixed assets |
10.600.000,- |
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Investments (long-term) |
10.600.000,- |
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Total Current assets |
745.330.000,- |
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Inventories and work in progress (incl. prepayments) |
351.781.000,- |
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Accounts receivable (trade) |
323.312.000,- |
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Receivables from affiliates and companies in which participations are
held |
70.000.000,- |
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Investments (short-term) |
231.000,- |
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Cash in hand and at bank |
6.000,- |
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Total equity, provisions, liabilities, accrued expenses and deferred
income |
1.963.121.000,- |
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Total equity (Shareholders' funds) |
595.033.000,- |
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Issued (subscribed) capital |
78.120.000,- |
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Share premium account (capital reserve) |
174.897.000,- |
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Share premium account |
174.897.000,- |
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Statutory reserves |
465.560.000,- |
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Legal reserves |
2.100.000,- |
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Profit or loss for the previous year |
648.000,- |
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Profit or loss for the financial year |
-126.292.000,- |
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Total liabilities |
1.368.088.000,- |
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Total long-term liabilities |
457.395.000,- |
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Long-term Loans, Mortgage debts |
457.395.000,- |
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Total current liabilities |
910.693.000,- |
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Current accounts payable (trade) |
0,- |
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Current liabilities to credit institutions |
877.900.000,- |
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Current payables to affiliated companies and to companies in which
participations are held |
0,- |
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Income and social tax liabilities |
32.793.000,- |
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Total operating income/revenue |
2.274.471.000,- |
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Main revenue (sales/turnover) |
2.274.471.000,- |
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Total operating expenses |
2.322.205.000,- |
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Operating profit or loss |
-47.734.000,- |
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Financial expenses |
37.261.000,- |
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Result of ordinary operations |
-84.995.000,- |
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Extraordinary expenses |
0,- |
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Pre-tax and pre-appropriation profit or loss |
-84.995.000,- |
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Appropriations |
-41.295.000,- |
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Taxes |
3.000,- |
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Net profit or loss |
-126.292.000,- |
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Borrowing ratio |
237,14 % |
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Current ratio |
81,84 % |
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Debt gearing |
77,14 % |
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Profit margin. |
-2,1 % |
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Quick ratio |
43,21 % |
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Return on assets |
-2,43 % |
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Return on equity. |
-14,33 % |
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Solidity or equity ratio |
30,2 % |
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Change in turnover % |
5,- |
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Turnover per person: |
997.575,- |
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Trading profit % |
-2,- |
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Return on investment % |
-3,- |
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Return on capital % |
-2,- |
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Quick ratio |
0,- |
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Current ratio |
1,- |
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Equity ratio |
30,- |
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Working capital % |
18,- |
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Inventories/turnover % |
16,- |
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Accounts receivable turnover in days |
37,- |
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Turnover for the period: 01 January 2007 - 31 December 2007
in EUR 3.395.239.167,00 |
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Not consolidated profit and loss turnover of the business: |
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Turnover for the period: 01 January 2006 - 31 December 2006
in EUR 3.292.017.551,00 |
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Not consolidated profit and loss turnover of the business: |
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Turnover for the period: 01 January 2005 - 31 December 2005
in EUR 2.274.471.000,00 |
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Not consolidated profit and loss turnover of the business: |
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FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.62 |
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UK Pound |
1 |
Rs.76.71 |
|
Euro |
1 |
Rs.61.30 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)