MIRA INFORM REPORT

 

 

Report Date :           

10.12.2011

 

IDENTIFICATION DETAILS

 

Name :

KINNAREDSSAGEN AB

 

 

Registered Office :

Marknadsvägen, Kinnared, 31405

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1963

 

 

Com. Reg. No.:

5560883620

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

Not Available

 

 

No. of Employees :

50 persons

 

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

 

Status :

Satisfactory

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Sweden

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Kinnaredssågen AB

Marknadsvägen

Kinnared, 31405

Sweden

Tel:       +46 345 58 58 00

Fax:      +46 345 58 58 70

Web :   www.derome.se 

           

 

Synthesis

 

Employees:                  50

Company Type:            Private Subsidiary

Corporate Family:          10 Companies

Ultimate Parent:             Derome AB

Incorporation Date:         1963    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Swedish Krona

Annual Sales:               43.1

Net Income:                   2.1

Total Assets:                27.3

 

           

Key Executives

 

Name

Title

Hans Åke Jakobsson

verkst dir

Charlotte Ruther

Finance Manager

Per-Uno Larsson

Sales Director, Marketing / Communication Executive

Stefan Nilsson

IT Manager, IT Manager

Sven Larsson

Purchasing Executive, Production Director

 

Registered No.(SWE): 5560883620

 

1 - Profit & Loss Item Exchange Rate: USD 1 = SEK 7.206564

2 - Balance Sheet Item Exchange Rate: USD 1 = SEK 6.72285

 

 

Corporate Overview

 

Location

Marknadsvägen

Kinnared, 31405

Sweden

Tel:       +46 345 58 58 00

Fax:      +46 345 58 58 70

Web:    www.derome.se

           

Sales SEK(mil):             310.6

Assets SEK(mil):           183.8

Employees:                   50

Fiscal Year End:            31-Dec-2010

Incorporation Date:         1963

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(SWE):    5560883620

verkst dir:                      Hans Åke Jakobsson

 

Contents

·         Financial Data

·         Key Corporate Relationships

 

Financial Data

Financials in:

SEK(mil)

 

Revenue:

310.6

Net Income:

15.1

Assets:

183.8

Total Liabilities:

68.2

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

NA

NA

 Top

Key Corporate Relationships

Bank:

SEB

 

 

 

 

 

 

 

 Top

 

 

 

Corporate Family

Corporate Structure News:

 

Derome AB
Kinnaredssågen AB

Kinnaredssågen AB 
Total Corporate Family Members: 10 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Derome AB

Parent

Veddige

Sweden

Forestry and Wood Products

275.5

651

 

Derome Byggvaror & Träteknik AB

Subsidiary

Veddige

Sweden

Retail (Grocery)

97.9

275

 

Derome Hus AB

Subsidiary

Veddige

Sweden

Construction Services

100.9

163

 

A-hus AB

Subsidiary

Kungsbacka, Halland

Sweden

Construction Services

44.8

93

 

Derome Timber AB

Subsidiary

Veddige

Sweden

Miscellaneous Financial Services

76.7

26

 

Derome Såg AB

Subsidiary

Veddige

Sweden

Construction - Supplies and Fixtures

58.9

87

 

Annebergssågen AB

Subsidiary

Kungsbacka

Sweden

Forestry and Wood Products

30.2

52

 

Kinnaredssågen AB

Subsidiary

Kinnared, Halland

Sweden

 

43.1

50

 

Derome Skog AB

Subsidiary

Veddige

Sweden

Retail (Home Improvement)

72.6

21

 

Derome Bioenergi AB

Subsidiary

Veddige

Sweden

Forestry and Wood Products

30.7

26

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Karl-Eric Andersson

 

ledamot

Director/Board Member

 

Bo Erling Andersson

 

ledamot

Director/Board Member

 

Sven Ingemar Andersson

 

ledamot

Director/Board Member

 

Bernt Göran Andersson

 

ledamot och ordförande

Director/Board Member

 

Kjell-Göran Nilsson

 

ledamot

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Hans Åke Jakobsson

 

verkst dir

Managing Director

 

Charlotte Ruther

 

Finance Manager

Finance Executive

 

Anders Thorild

 

Finance Manager

Finance Executive

 

Per-Uno Larsson

 

Sales Director, Marketing / Communication Executive

Sales Executive

 

Stefan Nilsson

 

IT Manager, IT Manager

Information Executive

 

Sven Larsson

 

Purchasing Executive, Production Director

Engineering/Technical Executive

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

SEK

SEK

SEK

Exchange Rate (Period Average)

7.206564

7.645194

6.599156

Consolidated

No

No

No

 

 

 

 

Total Revenue

43.5

37.5

38.0

Gross Profit

4.4

2.4

2.1

Net Financial Items

-0.2

-0.4

-0.7

Operating Income

3.8

1.8

1.5

Income Before Tax

2.9

1.4

0.8

Net Income

2.1

1.0

0.6

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

SEK

SEK

SEK

Exchange Rate

6.72285

7.1401

7.90795

Consolidated

No

No

No

 

 

 

 

Total Assets

27.3

29.5

30.0

Provisions

1.9

1.0

0.8

Total Liabilities

10.1

15.8

17.8

Total Equity

15.3

12.7

11.4

 

 

Annual Ratios

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Operating Margin

8.80

4.94

4.35

Current Ratio

389.69

392.31

760.10

Total debt/total equity

61.01

45.40

40.06

Return on average equity

23.08

11.90

5.87

 

 

Annual Growth Rates

 

 

 

 

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Turnover Percent Change

9.43%

14.17%

Marginal Contribution Percent Change

72.86%

35.96%

Net Financial Items Percent Change

47.65%

37.10%

Operating Results Percent Change

93.17%

42.16%

Profit/Loss Before Tax Percent Change

91.51%

92.23%

Profit/Loss for the Year Percent Change

91.99%

96.39%

Assets Percent Change

-12.86%

-11.19%

Provisions Percent Change

74.29%

10.15%

Debts Percent Change

-39.75%

-19.48%

Equity Capital Percent Change

13.85%

0.16%

Operating Margin Percent Change

78.14%

13.56%

Current Ratio Percent Change

-0.67%

-48.39%

Debt/Equity Ratio Percent Change

34.38%

13.33%

Retun On Equity Percent Change

93.95%

102.73%

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.23

UK Pound

1

Rs.81.55

Euro

1

Rs.69.60

 

 

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%)

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.