MIRA
INFORM REPORT
|
Report Date : |
10.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
MUNTERS EUROPE AKTIEBOLAG |
|
|
|
|
Registered Office : |
Box 1150, 16426 Kista |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2010 |
|
|
|
|
Date of Incorporation : |
19.01.1990 |
|
|
|
|
Com. Reg. No.: |
5563803039 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of non-domestic cooling and ventilation equipment |
|
|
|
|
No. of Employees : |
214 |
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 : |
7.200.000 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Sweden |
A1 |
A1 |
|
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 |
Munters Europe Aktiebolag |
|
Country |
SWEDEN |
|
Company
Registration Number |
5563803039 |
|
Main Activity |
|
|
Activity Code |
28250 |
|
Company Status |
Active |
|
Latest Turnover
Figure |
383.402.000 SEK |
|
Latest
Shareholder Equity Figure |
6.664.000 SEK |
|
Credit Rating |
95 (1 - 100) |
|
Rating
Description |
Very good credit worthiness |
|
Credit Limit |
7.200.000 SEK |
Company
Information
|
Basic
Information |
|
|
Business Name |
Munters Europe Aktiebolag |
|
Registered
Company Name |
Munters Europe Aktiebolag |
|
Company
Registration Number |
5563803039 |
|
Country |
SWEDEN |
|
VAT Registration
Number |
SE556380303901 |
|
Date of Company
Registration |
19/01/1990 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active |
|
Currency of this
Report |
SEK |
|
Principal
Activity Description |
Bolaget skall bedriva industriell rörelse, företrädesvis tillverkning,
försäljning och utveckling av produkter och tjänster för avfuktning,
befuktning, värmeväxling, luftkylning och därmed relaterad verksamhet liksom
service och konsultativ |
|
Contact Address |
16426 KISTA |
|
Contact
Telephone Number |
08-6266300 |
|
Activities |
|
|
Activity Code |
Activity
Description |
|
28250 |
Manufacture of non-domestic cooling and ventilation equipment |
|
28290 |
Manufacture of other general-purpose machinery n.e.c. |
CREDIT RECOMMENDATION
Current Credit Limit: 7.200.000 SEK
DIRECTORS/MANAGEMENT
|
Current
Directors |
|||
|
Name |
Appointment
Date |
Position |
|
|
Lars Jonas Ågrup |
17/11/2011 |
Actual Member of Board |
|
|
Henrik Joakim Sandréus |
17/11/2011 |
Actual Member of Board |
|
|
Nina Ulrika Haglind |
17/11/2011 |
Actual Member of Board |
|
|
Vasco Rickard Olivi |
17/11/2011 |
Actual Member of Board |
|
|
Previous
Directors |
|||
|
Name |
Appointment
Date |
Position |
Resignation
Date |
|
Kenneth Jan Åke Hanis |
13/09/2006 |
Actual Member of Board |
17/11/2011 |
|
Maj-Britt Verna Alina Hällmark |
20/11/2007 |
Actual Member of Board |
17/11/2011 |
|
Liv Marie Kristiansen |
27/04/2010 |
Actual Member of Board |
17/11/2011 |
|
Lars Martin Lindqvist |
13/03/2009 |
Actual Member of Board |
17/11/2011 |
|
Björn Gustav Andreas Olofsson |
20/11/2007 |
Actual Member of Board |
13/05/2011 |
|
Per Johan Kristian Lustin |
24/05/2006 |
Actual Member of Board |
27/04/2010 |
|
Per Jonas Samuelson |
24/01/2006 |
Actual Member of Board |
13/03/2009 |
|
Per Sune Segerström |
24/05/2006 |
Actual Member of Board |
20/11/2007 |
|
Frank Sören Sjöström |
16/06/2006 |
Actual Member of Board |
20/11/2007 |
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 |
2 |
SHARE & SHARE CAPITAL
INFORMATION
Share
Capital Structure
|
Issued Share
Capital |
100.000 SEK |
PAYMENT INFORMATION
Na
GROUP STRUCTURE & AFFILIATED
COMPANIES
Group
Structure
|
Ultimate Holding
Parent |
|
|
|
Ultimate Holding
Company Name |
Munters Topholding AB |
|
|
Ultimate Holding
Company Country |
SWEDEN |
5568192321 |
|
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 |
2010 |
2009 |
2008 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Conslotidated
Accounts |
N |
N |
N |
|
Revenue |
383.402.000 |
345.924.000 |
402.650.000 |
|
Operating Costs |
341.401.000 |
310.205.000 |
368.356.000 |
|
Operating Profit |
42.001.000 |
35.719.000 |
34.294.000 |
|
Wages &
Salaries |
- |
- |
- |
|
Depreciation |
- |
- |
- |
|
Financial Income |
71.000 |
135.000 |
2.667.000 |
|
Financial
Expenses |
-3.644.000 |
-3.537.000 |
-4.632.000 |
|
Extraordinary
Income |
- |
- |
- |
|
Extraordinary
Costs |
-3.644.000 |
-3.537.000 |
-4.632.000 |
|
Profit before
Tax |
38.429.000 |
32.317.000 |
32.329.000 |
|
Tax |
-10.910.000 |
-10.265.000 |
-9.998.000 |
|
Profit after Tax |
38.429.000 |
32.317.000 |
32.329.000 |
|
Minority
Interests |
- |
- |
- |
|
Other
Appropriations |
3.654.000 |
11.039.000 |
5.286.000 |
|
Retained Profit |
31.173.000 |
28.091.000 |
25.617.000 |
|
Balance Sheet |
|||
|
Financial Year |
2010 |
2009 |
2008 |
|
Number of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated
Accounts |
N |
N |
N |
|
Land &
Buildings |
0 |
0 |
0 |
|
Plant &
Machinery |
19.743.000 |
24.278.000 |
33.503.000 |
|
Other Tangible
Assets |
0 |
0 |
0 |
|
Total Tangible
Assets |
19.743.000 |
24.278.000 |
33.503.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible
Assets |
10.458.000 |
11.315.000 |
12.074.000 |
|
Total Intangible
Assets |
10.458.000 |
11.315.000 |
12.074.000 |
|
Loans To Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous
Fixed Assets |
100.000 |
100.000 |
100.000 |
|
Total Other
Fixed Assets |
100.000 |
100.000 |
100.000 |
|
TOTAL FIXED
ASSETS |
30.301.000 |
35.693.000 |
45.677.000 |
|
Work In Progress |
0 |
0 |
396.000 |
|
Other
Inventories |
53.619.000 |
39.765.000 |
38.511.000 |
|
Total
Inventories |
53.619.000 |
39.765.000 |
38.907.000 |
|
Trade Receivables |
33.143.000 |
26.575.000 |
36.647.000 |
|
Group
Receivables |
97.691.000 |
90.234.000 |
85.314.000 |
|
Miscellaneous
Receivables |
8.105.000 |
10.411.000 |
7.362.000 |
|
Total
Receivables |
138.939.000 |
127.220.000 |
129.323.000 |
|
Cash |
1.084.000 |
2.967.000 |
2.387.000 |
|
Other Current
Assets |
0 |
0 |
0 |
|
TOTAL CURRENT
ASSETS |
193.642.000 |
169.952.000 |
170.617.000 |
|
TOTAL ASSETS |
223.943.000 |
205.645.000 |
216.294.000 |
|
Trade Payables |
41.464.000 |
25.854.000 |
37.861.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Group Payables |
11.976.000 |
9.760.000 |
4.358.000 |
|
Miscellaneous
Liabilities |
29.181.000 |
27.051.000 |
34.730.000 |
|
TOTAL CURRENT
LIABILITIES |
82.621.000 |
62.665.000 |
76.949.000 |
|
Bank Liabilities
Due After 1 Year |
0 |
0 |
0 |
|
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 |
68.176.000 |
71.490.000 |
75.874.000 |
|
TOTAL LONG TERM
LIABILITIES |
134.658.000 |
136.917.000 |
136.578.000 |
|
TOTAL
LIABILITIES |
217.279.000 |
199.581.000 |
213.527.000 |
|
Called Up Share
Capital |
100.000 |
100.000 |
100.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
37.117.000 |
30.739.000 |
26.458.000 |
|
Other Reserves |
-30.553.000 |
-24.775.000 |
-23.791.000 |
|
TOTAL
SHAREHOLDERS EQUITY |
6.664.000 |
6.064.000 |
2.767.000 |
|
Other Financials |
|||
|
Contingent
Liabilities |
1.216.000 |
1.165.000 |
1.152.000 |
|
Working Capital |
111.021.000 |
107.287.000 |
93.668.000 |
|
Net Worth |
-3.794.000 |
-5.251.000 |
-9.307.000 |
|
Ratios |
|||
|
Pre-Tax Profit
Margin |
10.02 % |
9.34 % |
8.03 % |
|
Return On
Capital Employed |
12.54 % |
12.04 % |
11.02 % |
|
Return On Total
Assets Employed |
17.16 % |
15.71 % |
14.95 % |
|
Return On Net
Assets Employed |
576.67 % |
532.93 % |
1168.38 % |
|
Sales/Net
Working Capital |
3.45 |
3.22 |
4.30 |
|
Stock Turnover
Ratio |
13.99 % |
11.50 % |
9.66 % |
|
Debtor Days |
31.55 |
28.04 |
33.22 |
|
Creditor Days |
39.47 |
27.28 |
34.32 |
|
Current Ratio |
2.34 |
2.71 |
2.22 |
|
Liquidity
Ratio/Acid Test |
1.69 |
2.08 |
1.71 |
|
Current Debt Ratio |
12.40 |
10.33 |
27.81 |
|
Gearing |
997.63 % |
1078.94 % |
2193.86 % |
|
Equity In
Percentage |
3.12 % |
3.12 % |
1.36 % |
|
Total Debt Ratio |
32.60 |
32.91 |
77.17 |
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Contact
Information
|
Main Address |
||
|
Address |
Country |
Telephone |
|
Box 1150, 16426 KISTA |
SWEDEN |
08-6266300 |
|
Other Address |
|
|
Address |
Country |
|
Gårsjövägen 8, TOBO 74850 |
SWEDEN |
|
Stenyxegatan 21 H, MALMÖ 21376 |
SWEDEN |
|
Östra Nygatan 104, SKELLEFTEÅ 93135 |
SWEDEN |
|
August Barks Gata 30, VÄSTRA FRÖLUNDA 42132 |
SWEDEN |
|
Gärdevägen 5 C, SUNDSVALL 85650 |
SWEDEN |
|
Email Addresses |
|
No information for this company. |
|
Web Pages |
|
www.munters.se |
Other
Information
|
Employee
Information |
|
|
Year |
Number of
Employees |
|
2010 |
214 |
|
2009 |
192 |
|
2008 |
224 |
|
2007 |
233 |
|
2006 |
219 |
|
Advisors |
|
|
Auditor Name |
Ernst & Young Aktiebolag |
Additional
Information
|
Tax
Registrations |
|
|
Registered for
FTax |
Yes |
|
Registered for
VAT |
Yes |
|
Registered for
Employee Tax |
Yes |
|
Certificates |
||
|
Type |
Category |
Issuer |
|
No certificate information for this company. |
|
|
|
Industry
Comparison |
|
|
Activity Code |
28250 |
|
Activity
Description |
Manufacture of non-domestic cooling and ventilation equipment |
|
Industry Average
Credit Rating |
77 (1 - 100) |
|
Industry Average
Credit Limit |
2.908.000 SEK |
|
Event History |
|
|
Event Date |
Event
Description |
|
18/11/2011 |
Company representatives, changed |
|
18/11/2011 |
Board, changed |
|
18/11/2011 |
Authorised signatory, changed |
|
11/07/2011 |
Limit, decrease |
|
11/07/2011 |
Annual account, new |
|
11/07/2011 |
Group annual accout, new |
|
29/06/2011 |
Company representatives, changed |
|
29/06/2011 |
Board, changed |
|
24/06/2011 |
Annual report (PDF), new |
|
22/06/2011 |
Authorised signatory, changed |
|
22/06/2011 |
Company representatives, changed |
|
22/06/2011 |
Board, changed |
|
08/06/2011 |
Certificate, registered |
|
14/05/2011 |
Board, changed |
|
14/05/2011 |
Authorised signatory, changed |
|
14/05/2011 |
Company representatives, changed |
|
29/03/2011 |
Fax number, changed |
|
29/03/2011 |
Phone number, new |
|
09/09/2010 |
Board, changed |
|
28/05/2010 |
Annual account, new |
|
28/05/2010 |
Limit, decrease |
|
18/05/2010 |
Annual report (PDF), new |
|
28/04/2010 |
Board, changed |
|
28/04/2010 |
Company representatives, changed |
|
28/04/2010 |
Authorised signatory, changed |
|
17/07/2009 |
Board, changed |
|
16/06/2009 |
Annual account, new |
|
05/06/2009 |
Annual report (PDF), new |
|
16/03/2009 |
Board, changed |
|
16/03/2009 |
Company representatives, changed |
|
16/03/2009 |
Authorised signatory, changed |
|
12/06/2008 |
Annual account, new |
|
30/05/2008 |
Annual report (PDF), new |
|
26/05/2008 |
Company representatives, changed |
|
26/05/2008 |
Place of residence, changed |
|
04/02/2008 |
Address, changed |
|
08/01/2008 |
Address, changed |
|
21/11/2007 |
Board, changed |
|
21/11/2007 |
Authorised signatory, changed |
|
21/11/2007 |
Company representatives, changed |
|
17/08/2007 |
Annual account, new |
|
30/01/2007 |
Board, changed |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.28 |
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.