MIRA INFORM REPORT
|
Report Date : |
20.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
CYCLEUROPE AB |
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Registered Office : |
Hovslagargatan 5 B, 2 Tr, 11148 stockholm |
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Country : |
Sweden |
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Financials (as on) : |
2010 |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
5561416479 |
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Legal Form : |
Limited Company |
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Line of Business : |
Activities of head offices |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
7.400.000 SEK |
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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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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 |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
REGISTERED NAME & COMPANY
SUMMARY
Company Summary
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Business Name |
Cycleurope AB |
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Country |
SWEDEN |
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Company Registration Number |
5561416479 |
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Activities of head offices |
|
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Activity Code |
70100 |
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Company Status |
Active |
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Latest Turnover Figure |
91.400.000 SEK |
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Latest Shareholder Equity Figure |
189.900.000 SEK |
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Credit Limit |
7.400.000 SEK |
Contact Information
|
Main Address |
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Address |
Country |
Telephone |
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Hovslagargatan 5 B, 2 tr, 11148 STOCKHOLM |
SWEDEN |
08-54504480 |
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Other Address |
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Address |
Country |
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No other addresses for this company. |
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Email Addresses |
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No information for this company. |
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Web Pages |
|
cycleurope.com |
CREDIT RECOMENDATION
Current Credit Limit: 7.400.000 SEK
DIRECTORS/MANAGEMENT
Directors/Managers
|
Current Directors |
|||
|
Name |
Appointment Date |
Position |
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Salvatore Grimaldi |
13/05/1996 |
Actual Member of Board |
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Tony Erik Saverio Grimaldi |
15/09/1999 |
Actual Member of Board |
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Anders Bertil Ilstam |
18/07/2000 |
Actual Member of Board |
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James Artur Anders Johansson |
31/10/2003 |
Employee Representative |
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Thord Mikael Karlsson |
31/05/2007 |
Employee Representative |
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Bertil Daniel Mäkinen |
26/08/2009 |
Substitute |
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Ingrid Anna Margaretha Söderberg |
30/09/2008 |
Substitute |
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Previous Directors |
|||
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Name |
Appointment Date |
Position |
Resignation Date |
|
Jan Erik Forssjö |
28/06/2005 |
Actual Member of Board |
26/08/2009 |
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Conny Peter Oscar Blixt |
26/01/2007 |
Substitute |
26/08/2009 |
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Thord Mikael Karlsson |
31/05/2007 |
Substitute |
30/09/2008 |
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Lars-Erik Tommy Gustafsson |
18/07/2000 |
Employee Representative |
22/08/2008 |
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Nils Oskar Morgan Fagerström |
22/04/2004 |
Substitute |
31/05/2007 |
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Åke Yngve Georg Hedén |
11/08/2006 |
Actual Member of Board |
26/01/2007 |
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Göran Arthur Lindén |
18/07/2000 |
Actual Member of Board |
26/01/2007 |
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James Artur Anders Johansson |
31/10/2003 |
Substitute |
26/01/2007 |
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Tony Erik Saverio Grimaldi |
18/07/2000 |
Managing Director |
26/01/2007 |
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Lars Eric Nilsson |
18/07/2000 |
Actual Member of Board |
11/08/2006 |
NEGATIVE INFORMATION
Negative Information
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Debt balance at the Swedish Enforcement Agency |
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Number of Private Claims |
- |
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Balance of Private Claims |
- |
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Number of Public Claims |
- |
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Balance of Public Claims |
- |
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Total Balance |
- |
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Record of non-payment |
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Number of distraint attempts and repossessions |
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Number of public claims |
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Number of private claims |
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Number of applications for an order to pay |
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Number of reclaimed/revoked applications |
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SHARE & SHARE CAPITAL
INFORMATION
Share Capital Structure
|
Issued Share Capital |
10.000.000 SEK |
PAYMENT INFORMATION
Na
GROUP STRUCTURE & AFFILIATED
COMPANIES
Group Structure
|
Ultimate Holding Parent |
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Ultimate Holding Company Name |
Grimaldi Industri Aktiebolag |
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Ultimate Holding Company Country |
SWEDEN |
5563255065 |
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Immediate Holding Parent |
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No information for this company. |
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Subsidiary Companies |
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Subsidiary Name |
Country |
Number |
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No subsidiaries for this company. |
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Affiliates |
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Affiliate Name |
Country |
Number |
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No affiliates for this company. |
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FINANCIAL INFORMATION
Financial Information
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Profit and Loss |
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Financial Year |
2010 |
2009 |
2008 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
SEK |
SEK |
SEK |
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Consolidated Accounts |
N |
N |
N |
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Revenue |
101.200.000 |
105.000.000 |
147.900.000 |
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Operating Costs |
106.200.000 |
106.400.000 |
147.800.000 |
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Operating Profit |
-5.000.000 |
-1.400.000 |
100.000 |
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Wages & Salaries |
- |
- |
- |
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Depreciation |
- |
- |
- |
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Financial Income |
500.000 |
700.000 |
6.300.000 |
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Financial Expenses |
-4.500.000 |
-3.700.000 |
-3.500.000 |
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Extraordinary Income |
- |
- |
- |
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Extraordinary Costs |
-4.500.000 |
-3.700.000 |
-3.500.000 |
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Profit before Tax |
-7.700.000 |
-23.400.000 |
33.100.000 |
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Tax |
2.400.000 |
1.200.000 |
1.100.000 |
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Profit after Tax |
-7.700.000 |
-23.400.000 |
33.100.000 |
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Minority Interests |
- |
- |
- |
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Other Appropriations |
- |
-200.000 |
-3.000.000 |
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Retained Profit |
-5.300.000 |
-22.400.000 |
31.200.000 |
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Balance Sheet |
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Financial Year |
2010 |
2009 |
2008 |
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Number of Weeks |
52 |
52 |
52 |
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Currency |
SEK |
SEK |
SEK |
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Consolidated Accounts |
N |
N |
N |
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Land & Buildings |
0 |
0 |
0 |
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Plant & Machinery |
0 |
0 |
0 |
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Other Tangible Assets |
200.000 |
200.000 |
300.000 |
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Total Tangible Assets |
200.000 |
200.000 |
300.000 |
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Goodwill |
0 |
0 |
0 |
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Other Intangible Assets |
0 |
0 |
0 |
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Total Intangible Assets |
0 |
0 |
0 |
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Loans To Group |
83.300.000 |
83.300.000 |
83.300.000 |
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Other Loans |
0 |
0 |
0 |
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Miscellaneous Fixed Assets |
166.200.000 |
166.200.000 |
166.200.000 |
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Total Other Fixed Assets |
249.500.000 |
249.500.000 |
249.500.000 |
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TOTAL FIXED ASSETS |
249.700.000 |
249.700.000 |
249.800.000 |
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Work In Progress |
0 |
0 |
0 |
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Other Inventories |
0 |
0 |
0 |
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Total Inventories |
0 |
0 |
0 |
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Trade Receivables |
0 |
0 |
0 |
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Group Receivables |
58.600.000 |
54.900.000 |
79.800.000 |
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Miscellaneous Receivables |
5.000.000 |
4.700.000 |
4.500.000 |
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Total Receivables |
63.600.000 |
59.600.000 |
84.300.000 |
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Cash |
100.000 |
100.000 |
100.000 |
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Other Current Assets |
0 |
0 |
0 |
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TOTAL CURRENT ASSETS |
63.700.000 |
59.700.000 |
84.400.000 |
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TOTAL ASSETS |
313.400.000 |
309.400.000 |
334.200.000 |
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Trade Payables |
10.600.000 |
14.800.000 |
15.600.000 |
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Bank Liabilities |
68.400.000 |
73.600.000 |
58.200.000 |
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Group Payables |
26.200.000 |
15.100.000 |
21.400.000 |
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Miscellaneous Liabilities |
4.100.000 |
3.000.000 |
7.900.000 |
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TOTAL CURRENT LIABILITIES |
109.300.000 |
106.500.000 |
103.100.000 |
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Bank Liabilities Due After 1 Year |
0 |
0 |
0 |
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Other Loans Or Finance Due After 1 Year |
0 |
0 |
0 |
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Group Payables After 1 Year |
0 |
0 |
0 |
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Miscellaneous Liabilities Due After 1 Year |
3.200.000 |
3.200.000 |
3.000.000 |
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TOTAL LONG TERM LIABILITIES |
14.200.000 |
14.200.000 |
14.000.000 |
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TOTAL LIABILITIES |
123.500.000 |
120.700.000 |
117.100.000 |
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Called Up Share Capital |
10.000.000 |
10.000.000 |
10.000.000 |
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Share Premium |
0 |
0 |
0 |
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Revenue Reserves |
171.300.000 |
176.700.000 |
193.900.000 |
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Other Reserves |
8.600.000 |
2.000.000 |
13.200.000 |
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TOTAL SHAREHOLDERS EQUITY |
189.900.000 |
188.700.000 |
217.100.000 |
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Other Financials |
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Contingent Liabilities |
33.300.000 |
32.900.000 |
32.300.000 |
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Working Capital |
-45.600.000 |
-46.800.000 |
-18.700.000 |
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Net Worth |
189.900.000 |
188.700.000 |
217.100.000 |
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Ratios |
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Pre-Tax Profit Margin |
-7.61 % |
-22.29 % |
22.38 % |
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Return On Capital Employed |
-1.82 % |
-5.63 % |
7.57 % |
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Return On Total Assets Employed |
-2.46 % |
-7.56 % |
9.90 % |
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Return On Net Assets Employed |
-4.05 % |
-12.40 % |
15.25 % |
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Sales/Net Working Capital |
-2.22 |
-2.24 |
-7.91 |
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Stock Turnover Ratio |
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Debtor Days |
0.00 |
0.00 |
0.00 |
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Creditor Days |
38.23 |
51.45 |
38.50 |
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Current Ratio |
0.58 |
0.56 |
0.82 |
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Liquidity Ratio/Acid Test |
0.58 |
0.56 |
0.82 |
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Current Debt Ratio |
0.58 |
0.56 |
0.47 |
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Gearing |
41.81 % |
44.83 % |
31.87 % |
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Equity In Percentage |
297.18 % |
315.03 % |
256.32 % |
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Total Debt Ratio |
0.65 |
0.64 |
0.54 |
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FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Other Information
|
Employee Information |
|
|
Year |
Number of Employees |
|
2010 |
2 |
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2009 |
2 |
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2008 |
3 |
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2007 |
4 |
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2006 |
9 |
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Advisors |
|
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Auditor Name |
Lars Åke Gunnar Träff |
dditional Information
|
Tax Registrations |
|
|
|
Registered for Tax |
Yes |
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Registered for VAT |
Yes |
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Registered for Employee Tax |
Yes |
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Certificates |
|
|
|
Type |
Category |
Issuer |
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No certificate information for this company. |
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|
Industry Comparison |
|
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Activity Code |
70100 |
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Activity Description |
Activities of head offices |
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Industry Average Credit Limit |
11.082.000 SEK |
|
Event History |
|
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Event Date |
Event Description |
|
17/06/2011 |
Annual account, new |
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17/06/2011 |
Limit, decrease |
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09/06/2011 |
Annual report (PDF), new |
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21/06/2010 |
Annual account, new |
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21/06/2010 |
Limit, decrease |
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08/06/2010 |
Annual report (PDF), new |
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27/08/2009 |
Company representatives, changed |
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27/08/2009 |
Board, changed |
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27/08/2009 |
Authorised signatory, changed |
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08/07/2009 |
Annual account, new |
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25/06/2009 |
Annual report (PDF), new |
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01/10/2008 |
Company representatives, changed |
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01/10/2008 |
Authorised signatory, changed |
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01/10/2008 |
Board, changed |
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25/08/2008 |
Authorised signatory, changed |
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25/08/2008 |
Board, changed |
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25/08/2008 |
Company representatives, changed |
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22/07/2008 |
Annual account, new |
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14/07/2008 |
Annual report (PDF), new |
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10/07/2007 |
Annual account, new |
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01/06/2007 |
Board, changed |
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01/06/2007 |
Authorised signatory, changed |
|
01/06/2007 |
Company representatives, changed |
|
22/05/2007 |
Address, changed |
|
25/03/2007 |
Address, changed |
|
29/01/2007 |
Authorised signatory, changed |
|
29/01/2007 |
Board, changed |
|
29/01/2007 |
Company representatives, changed |
|
09/09/2006 |
Annual account, new |
|
12/08/2006 |
Board, changed |
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12/08/2006 |
Authorised signatory, changed |
|
12/08/2006 |
Company representatives, changed |
|
12/08/2006 |
Company business activity, changed |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
|
UK Pound |
1 |
Rs.71.62 |
|
Euro |
1 |
Rs.62.78 |
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.