MIRA INFORM REPORT
|
Report Date : |
18.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
NORDIC FLANGES AB |
|
|
|
|
Registered Office : |
89435 Själevad |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2009 |
|
|
|
|
Date of Incorporation : |
01.08.1995 |
|
|
|
|
Com. Reg. No.: |
5565252995 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of tubes, pipes, hollow profiles and related fittings, of
steel |
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 : |
25.000.000 SEK |
|
Status : |
Good |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Sweden |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
REGISTERED NAME & COMPANY
SUMMARY
|
Business Name |
Nordic Flanges AB |
|
Country |
SWEDEN |
|
Company Registration Number |
5565252995 |
|
Main Activity |
|
|
Activity Code |
24200 |
|
Company Status |
Active |
|
Latest Turnover Figure |
168.280.000 SEK |
|
Latest Shareholder Equity Figure |
76.252.000 SEK |
|
Credit Limit |
25.000.000 SEK |
|
Basic
Information |
|
|
Business Name |
Nordic Flanges AB |
|
Registered Company Name |
Nordic Flanges AB |
|
Company Registration Number |
5565252995 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556525299501 |
|
Date of Company Registration |
01/08/1995 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active |
|
Currency of this Report |
SEK |
|
Principal Activity Description |
BOLAGET SKALL BEDRIVA TILLVERKNING OCH HANDEL, INKLUDERANDE IMPORT OCH
EXPORT, MED FLÄNSAR, RÖR OCH LIKNANDE PRODUKTER I SÅVÄL ROSTFRITT MATERIAL
SOM ANDRA STÅLSORTER, ATT ÄGA OCH FÖRVALTA LÖS OCH FAST EGENDOM, SAMT ATT
BEDRIVA DÄRMED FÖRENLIG VERKSAMHET. |
|
Contact Address |
89435 SJÄLEVAD |
|
Contact Telephone Number |
0660-299700 |
CREDIT RECOMENDATION
Current Credit Limit: 25.000.000 SEK
|
Current Credit Limit |
25.000.000 SEK |
|
Current Contract Limit |
37.900.000 SEK |
|
Date of Latest Rating Change |
23/10/2010 |
|
Previous Credit Limit |
10.000.001.000 SEK |
DIRECTORS/MANAGEMENT
Directors/Managers
|
Current
Directors |
|||
|
Name |
Appointment
Date |
Position |
|
|
Carl David Erik Malmström |
22/10/2010 |
Actual Member of Board |
|
|
Bo Stefan Lindberg |
14/04/2009 |
Actual Member of Board |
|
|
Carl-Henrik Hjalmar Sellmann |
01/11/2003 |
Actual Member of Board |
|
|
Previous
Directors |
|||
|
Name |
Appointment
Date |
Position |
Resignation
Date |
|
Andor Gerendas |
24/05/2006 |
Actual Member of Board |
14/04/2009 |
|
Jacob Christoffer Calmvik |
14/04/2009 |
Actual Member of Board |
20/10/2009 |
|
Martin Ragnar Andersson |
13/09/2007 |
Actual Member of Board |
14/04/2009 |
|
Carl-Henrik Hjalmar Sellmann |
06/12/2003 |
Managing Director |
13/08/2008 |
|
Bo Ture Ekberg |
06/12/2003 |
Actual Member of Board |
15/01/2008 |
|
Åke Oscar Ekberg |
06/12/2003 |
Actual Member of Board |
13/09/2007 |
|
Kurt Tomas Althén |
24/05/2006 |
Actual Member of Board |
13/09/2007 |
|
Christian Honorino Perez |
24/05/2006 |
Actual Member of Board |
13/09/2007 |
NEGATIVE INFORMATION
Negative Information
|
Debt balance at the Swedish Enforcement
Agency |
|
|
Number of Private Claims |
- |
|
Balance of Private Claims |
- |
|
Number of Public Claims |
- |
|
Balance of Public Claims |
- |
|
Total Balance |
- |
|
Record of non-payment |
|
|
Number of distraint attempts and
repossessions |
- |
|
Number of public claims |
- |
|
Number of private claims |
- |
|
Number of applications for an order to pay |
- |
|
Number of reclaimed/revoked applications |
- |
SHARE & SHARE CAPITAL
INFORMATIO
Share Capital Structure
|
Issued Share
Capital |
500.000 SEK |
PAYMENT INFORMATION
Na
GROUP STRUCTURE & AFFILIATED
COMPANIES
Group Structure
|
Ultimate Holding
Parent |
|
|
|
Ultimate Holding
Company Name |
Vinovo AB |
|
|
Ultimate Holding
Company Country |
SWEDEN |
5566741749 |
|
Immediate
Holding Parent |
|
No information for this company. |
|
Subsidary
Companies |
||
|
Subsidiary Name |
Country |
Number |
|
No subsidaries for this company. |
|
|
|
Affiliates |
||
|
Affiliate Name |
Country |
Number |
|
No affiliates for this company. |
|
|
FINANCIAL INFORMATION
|
Profit and Loss |
|||
|
Financial Year |
2009 |
2008 |
2008 |
|
Number of Weeks |
52 |
26 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Conslotidated Accounts |
N |
N |
N |
|
Revenue |
168.843.000 |
117.596.000 |
269.709.000 |
|
Operating Costs |
172.592.000 |
103.825.000 |
222.779.000 |
|
Operating Profit |
-3.749.000 |
13.771.000 |
46.930.000 |
|
Wages & Salaries |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Financial Income |
1.821.000 |
1.339.000 |
1.206.000 |
|
Financial Expenses |
-1.675.000 |
-1.332.000 |
-2.280.000 |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Costs |
-1.675.000 |
-1.332.000 |
-2.280.000 |
|
Profit before Tax |
-3.603.000 |
13.778.000 |
45.856.000 |
|
Tax |
115.000 |
-3.872.000 |
-12.451.000 |
|
Profit after Tax |
-3.603.000 |
13.778.000 |
45.856.000 |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
1.552.000 |
-607.000 |
-2.373.000 |
|
Retained Profit |
-1.936.000 |
9.299.000 |
31.032.000 |
|
Balance
Sheet |
|
||
|
Financial Year |
2009 |
2008 |
2008 |
|
Number of Weeks |
52 |
26 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Land & Buildings |
3.139.000 |
32.823.000 |
30.761.000 |
|
Plant & Machinery |
19.512.000 |
20.988.000 |
15.048.000 |
|
Other Tangible Assets |
14.679.000 |
11.255.000 |
5.613.000 |
|
Total Tangible Assets |
37.330.000 |
65.066.000 |
51.422.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
0 |
0 |
0 |
|
Total Intangible Assets |
0 |
0 |
0 |
|
Loans To Group |
65.160.000 |
30.000.000 |
30.000.000 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
0 |
0 |
0 |
|
Total Other Fixed Assets |
65.160.000 |
30.000.000 |
30.000.000 |
|
TOTAL FIXED ASSETS |
102.490.000 |
95.066.000 |
81.422.000 |
|
Work In Progress |
0 |
0 |
0 |
|
Other Inventories |
62.380.000 |
91.614.000 |
83.753.000 |
|
Total Inventories |
62.380.000 |
91.614.000 |
83.753.000 |
|
Trade Receivables |
22.726.000 |
26.704.000 |
41.335.000 |
|
Group Receivables |
4.866.000 |
1.228.000 |
1.070.000 |
|
Miscellaneous Receivables |
4.523.000 |
15.048.000 |
6.671.000 |
|
Total Receivables |
32.115.000 |
42.980.000 |
49.076.000 |
|
Cash |
9.159.000 |
12.775.000 |
27.933.000 |
|
Other Current Assets |
0 |
14.988.000 |
0 |
|
TOTAL CURRENT ASSETS |
103.654.000 |
162.357.000 |
160.762.000 |
|
TOTAL ASSETS |
206.144.000 |
257.423.000 |
242.184.000 |
|
Trade Payables |
6.392.000 |
25.114.000 |
17.146.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Group Payables |
0 |
0 |
97.000 |
|
Miscellaneous Liabilities |
28.063.000 |
37.014.000 |
32.926.000 |
|
TOTAL CURRENT LIABILITIES |
34.455.000 |
62.128.000 |
50.169.000 |
|
Bank Liabilities Due After 1 Year |
10.588.000 |
31.675.000 |
23.821.000 |
|
Other Loans Or Finance Due After 1 Year |
0 |
0 |
0 |
|
Group Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous Liabilities Due After 1 Year |
34.148.000 |
35.700.000 |
45.238.000 |
|
TOTAL LONG TERM LIABILITIES |
95.437.000 |
117.440.000 |
113.524.000 |
|
TOTAL LIABILITIES |
129.892.000 |
179.568.000 |
163.693.000 |
|
Called Up Share Capital |
500.000 |
500.000 |
500.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
75.319.000 |
91.055.000 |
122.356.000 |
|
Other Reserves |
433.000 |
-13.700.000 |
-44.365.000 |
|
TOTAL
SHAREHOLDERS EQUITY |
76.252.000 |
77.855.000 |
78.491.000 |
|
Other Financials |
|
||
|
Contingent
Liabilities |
529.000 |
366.000 |
366.000 |
|
Working Capital |
69.199.000 |
100.229.000 |
110.593.000 |
|
Net Worth |
76.252.000 |
77.855.000 |
78.491.000 |
|
Ratios |
|
||
|
Pre-Tax Profit Margin |
-2.13 % |
11.72 % |
17.00 % |
|
Return On Capital Employed |
-1.50 % |
4.31 % |
15.69 % |
|
Return On Total Assets Employed |
-1.75 % |
5.35 % |
18.93 % |
|
Return On Net Assets Employed |
-4.73 % |
17.70 % |
58.42 % |
|
Sales/Net Working Capital |
2.44 |
1.17 |
2.44 |
|
Stock Turnover Ratio |
36.95 % |
77.91 % |
31.05 % |
|
Debtor Days |
49.13 |
82.89 |
55.94 |
|
Creditor Days |
13.82 |
77.95 |
23.20 |
|
Current Ratio |
3.01 |
2.61 |
3.20 |
|
Liquidity Ratio/Acid Test |
1.20 |
1.14 |
1.53 |
|
Current Debt Ratio |
0.45 |
0.80 |
0.64 |
|
Gearing |
80.38 % |
104.99 % |
99.92 % |
|
Equity In Percentage |
54.09 % |
34.23 % |
36.99 % |
|
Total Debt Ratio |
1.70 |
2.31 |
|
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
|
Activities |
|
|
Activity Code |
Activity
Description |
|
24200 |
Manufacture of tubes, pipes, hollow profiles and related fittings, of
steel |
|
46720 |
Wholesale of metals and metal ores |
Contact
Information
|
Main Address |
||
|
Address |
Country |
Telephone |
|
Kavelvägen 17, 89435 SJÄLEVAD |
SWEDEN |
0660-299700 |
|
Other Address |
|
|
Address |
Country |
|
Hammargatan 9, VELLINGE 23532 |
SWEDEN |
|
Frihamnen MAGASIN 6, STOCKHOLM 11556 |
SWEDEN |
|
Email Addresses |
|
info@baem.se |
|
Web Pages |
|
No information for this company. |
Other
Information
|
Employee
Information |
|
|
Year |
Number of
Employees |
|
2009 |
59 |
|
2008 |
74 |
|
2008 |
66 |
|
2007 |
65 |
|
2005 |
59 |
|
Advisors |
|
|
Auditor Name |
KPMG AB |
Additional
Information
|
Tax
Registrations |
|
|
Registered for
Tax |
Yes |
|
Registered for
VAT |
Yes |
|
Registered for
Employee Tax |
Yes |
|
Certificates |
||
|
Type |
Category |
Issuer |
|
No certificate information for this company. |
|
|
|
Industry
Comparison |
|
|
Activity Code |
24200 |
|
Activity
Description |
Manufacture of tubes, pipes, hollow profiles and related fittings, of
steel |
|
Industry Average
Credit Rating |
73 (1 - 100) |
|
Industry Average
Credit Limit |
760.000 SEK |
|
Event History |
|
|
Event Date |
Event
Description |
|
01/08/2011 |
Annual report (PDF), new |
|
29/03/2011 |
Phone number, new |
|
29/03/2011 |
Fax number, new |
|
03/11/2010 |
Board, changed |
|
03/11/2010 |
Company representatives, changed |
|
23/10/2010 |
Board, changed |
|
23/10/2010 |
Authorised signatory, changed |
|
23/10/2010 |
Company representatives, changed |
|
13/08/2010 |
Annual account, new |
|
28/07/2010 |
Annual report (PDF), new |
|
21/10/2009 |
Authorised signatory, changed |
|
21/10/2009 |
Company representatives, changed |
|
21/10/2009 |
Board, changed |
|
29/09/2009 |
Annual account, new |
|
20/08/2009 |
Annual report (PDF), new |
|
15/04/2009 |
Company representatives, changed |
|
15/04/2009 |
Authorised signatory, changed |
|
15/04/2009 |
Board, changed |
|
15/04/2009 |
Address, changed |
|
17/02/2009 |
Annual account, new |
|
06/02/2009 |
Annual report (PDF), new |
|
29/09/2008 |
Board, changed |
|
14/08/2008 |
Authorised signatory, changed |
|
14/08/2008 |
Company representatives, changed |
|
14/08/2008 |
Board, changed |
|
18/01/2008 |
Annual account, new |
|
16/01/2008 |
Authorised signatory, changed |
|
16/01/2008 |
Board, changed |
|
16/01/2008 |
Company representatives, changed |
|
14/09/2007 |
Company representatives, changed |
|
14/09/2007 |
Authorised signatory, changed |
|
14/09/2007 |
Board, changed |
|
22/08/2007 |
Authorised signatory, changed |
|
22/08/2007 |
Board, changed |
|
31/10/2006 |
Company representatives, changed |
|
31/10/2006 |
Board, changed |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
UK Pound |
1 |
Rs.74.56 |
|
Euro |
1 |
Rs.65.34 |
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 |
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 |
|
---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.