MIRA INFORM REPORT

 

 

Report Date :           

29.06.2011

 

IDENTIFICATION DETAILS

 

Name :

FAGERSTA STAINLESS AKTIEBOLAG

 

 

Registered Office :

73725 Fagersta

 

 

Country :

Sweden

 

 

Financials (as on) :

2009

 

 

Date of Incorporation :

21.01.1948

 

 

Com. Reg. No.:

5560516881

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of basic iron and steel and of ferro-alloys

 

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 :

50.000.000 SEK

Status :

Good

Payment Behaviour :

Regular

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Summary

Business Name

Fagersta Stainless Aktiebolag

Country

SWEDEN

Company Registration Number

5560516881

Main Activity

Manufacture of basic iron and steel and of ferro-alloys

Activity Code

24100

Company Status

Active

Latest Turnover Figure

921.600.000 SEK

Latest Shareholder Equity Figure

374.500.000 SEK

Credit Limit

50.000.000 SEK

 

Company Information

Basic Information

Business Name

Fagersta Stainless Aktiebolag

Registered Company Name

Fagersta Stainless Aktiebolag

Company Registration Number

5560516881

Country

SWEDEN

VAT Registration Number

SE556051688101

Date of Company Registration

21/01/1948

Legal Form

Limited liability company

Company Status

Active

Currency of this Report

SEK

Principal Activity Description

Bolaget skall tillverka och försälja varmvalsad tråd och band samt därmed förenlig verksamhet.

 

(The company will manufacture and sell hot-wire and tape, and related operations.)

 

Contact Address

73725 FAGERSTA

Contact Telephone Number

0223-45500

 

 

Activities

Activity Code

Activity Description

24100

Manufacture of basic iron and steel and of ferro-alloys

 

 

CREDIT RECOMENDATION

 

Current Credit Limit: 50.000.000 SEK

DIRECTORS/MANAGEMENT

 

Directors/Managers

Current Directors

Name

Appointment Date

Position

 

Grahn, Tommy Verner

27/04/2006

Actual Member of Board

 

Jan Åke Öhman

31/07/2007

Actual Member of Board

 

Kjell Erik Sune Andersson

24/03/1994

Actual Member of Board

 

Lars Esbjörn Edberg

15/09/2000

Actual Member of Board

 

Mats Allan Nordén

27/04/2006

Actual Member of Board

 

Sune Gustav Eriksson

25/01/2008

Actual Member of Board

 

Pyyskänen, Mika Johannes

06/02/2006

Substitute

 

Göte Conny Eriksson

15/09/2000

Substitute

 

Sivert Gunnar Kilberg

07/11/2002

Substitute

 

Ulf Peter Einar Öhnfeldt

20/11/2008

Substitute

 

 

 

Previous Directors

Name

Appointment Date

Position

Resignation Date

Sune Gustav Eriksson

25/01/2008

Chairman of Board

12/08/2008

Grahn, Tommy Verner

12/08/2008

Chairman of Board

10/06/2009

Mats Göran Helmer Björkman

27/08/2005

Substitute

20/11/2008

Lars Bengt Olov Wijk

15/09/2000

Actual Member of Board

25/01/2008

Petra Irene Einarsson

31/10/2003

Actual Member of Board

31/07/2007

 

 

NEGATIVE INFORMATION

 

No negative information found.

 

SHARE & SHARE CAPITAL INFORMATION

 

Share Capital Structure

Issued Share Capital

80.000.000 SEK

 

PAYMENT INFORMATION

 

Nothing to disclosed.

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Group Structure

Ultimate Holding Parent

No information for this company.

 

Immediate Holding Parent

No information for this company.

 

Subsidary Companies

Subsidiary Name

Country

Number

FAGERSTA STAINLESS INC

UNITED STATES

 

 

Affiliates

Affiliate Name

Country

Number

No affiliates for this company

 

 

 

 

FINANCIAL INFORMATION

 

Financial Information

Profit and Loss

Financial Year

2009

2008

2007

Number of Weeks

52

52

52

Currency

SEK

SEK

SEK

Consolidated Accounts

N

N

N

Revenue

951.800.000

2.103.200.000

2.677.500.000

Operating Costs

1.099.300.000

2.127.900.000

2.580.200.000

Operating Profit

-147.500.000

-24.700.000

97.300.000

Wages & Salaries

-141.900.000

-156.200.000

-160.800.000

Depreciation

-20.300.000

-20.500.000

-19.300.000

Financial Income

100.000

1.600.000

1.400.000

Financial Expenses

-2.500.000

-9.400.000

-6.400.000

Extraordinary Income

-

-

-

Extraordinary Costs

-2.500.000

-9.400.000

-6.400.000

Profit before Tax

-149.900.000

-32.500.000

92.300.000

Tax

38.800.000

11.300.000

-26.800.000

Profit after Tax

-149.900.000

-32.500.000

92.300.000

Minority Interests

-

-

-

Other Appropriations

-

-

-

Retained Profit

-111.100.000

-21.200.000

65.500.000

 

 

Financial Information

Profit and Loss

Financial Year

2009

2008

2007

Number of Weeks

52

52

52

Currency

SEK

SEK

SEK

Consolidated Accounts

N

N

N

Revenue

951.800.000

2.103.200.000

2.677.500.000

Operating Costs

1.099.300.000

2.127.900.000

2.580.200.000

Operating Profit

-147.500.000

-24.700.000

97.300.000

Wages & Salaries

-141.900.000

-156.200.000

-160.800.000

Depreciation

-20.300.000

-20.500.000

-19.300.000

Financial Income

100.000

1.600.000

1.400.000

Financial Expenses

-2.500.000

-9.400.000

-6.400.000

Extraordinary Income

-

-

-

Extraordinary Costs

-2.500.000

-9.400.000

-6.400.000

Profit before Tax

-149.900.000

-32.500.000

92.300.000

Tax

38.800.000

11.300.000

-26.800.000

Profit after Tax

-149.900.000

-32.500.000

92.300.000

Minority Interests

-

-

-

Other Appropriations

-

-

-

Retained Profit

-111.100.000

-21.200.000

65.500.000

 

Other Financials

Contingent Liabilities

0

0

0

Working Capital

252.100.000

410.400.000

511.900.000

Net Worth

374.500.000

485.700.000

535.800.000

 

Ratios

Pre-Tax Profit Margin

-15.75 %

-1.55 %

3.45 %

Return On Capital Employed

-16.35 %

-12.43 %

8.07 %

Return On Total Assets Employed

-22.32 %

 

10.20 %

Return On Net Assets Employed

-40.03 %

-6.69 %

17.23 %

Sales/Net Working Capital

3.78

5.12

5.23

Stock Turnover Ratio

29.29 %

15.05 %

11.77 %

Debtor Days

76.62

53.17

54.42

Creditor Days

74.13

26.45

21.25

Current Ratio

2.03

2.57

3.14

Liquidity Ratio/Acid Test

0.89

1.36

1.82

Current Debt Ratio

0.65

0.54

0.45

Gearing

15.06 %

16.16 %

15.27 %

Equity In Percentage

56.65 %

58.36 %

59.21 %

Total Debt Ratio

0.79

-1.00

 

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Contact Information

Main Address

Address

Country

Telephone

Box 508, 73725 FAGERSTA

SWEDEN

0223-45500

 

Other Address

Address

Country

No other addresses for this company.

 

 

Email Addresses

No information for this company.

 

Web Pages

No information for this company.

Other Information

Employee Information

 

Year

Number of Employees

 

2009

277

 

2008

310

 

2007

306

2006

311

2005

311

 

Advisors

Auditor Name

Bengt Ove Wallinder

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

24100

Activity Description

Manufacture of basic iron and steel and of ferro-alloys

Industry Average Credit Rating

85 (1 - 100)

Industry Average Credit Limit

32.092.000 SEK

 

Event History

Event Date

Event Description

08/06/2011

Certificate, registered

13/04/2011

Certificate, deregistered

29/03/2011

Phone number, new

29/03/2011

Fax number, new

06/12/2010

Certificate, registered

06/12/2010

Certificate, deregistered

16/10/2010

Phone number, removed

16/10/2010

Fax number, removed

18/08/2010

Board, changed

18/08/2010

Authorised signatory, changed

18/08/2010

Company representatives, changed

13/08/2010

Annual account, new

06/08/2010

Annual report (PDF), new

06/07/2009

Annual account, new

18/06/2009

Annual report (PDF), new

11/06/2009

Board, changed

11/06/2009

Company representatives, changed

11/06/2009

Authorised signatory, changed

21/11/2008

Authorised signatory, changed

21/11/2008

Board, changed

21/11/2008

Company representatives, changed

30/09/2008

Board, changed

30/09/2008

Authorised signatory, changed

30/09/2008

Company representatives, changed

03/09/2008

Authorised signatory, changed

03/09/2008

Board, changed

03/09/2008

Company representatives, changed

13/08/2008

Company representatives, changed

13/08/2008

Board, changed

13/08/2008

Authorised signatory, changed

12/08/2008

Annual account, new

06/08/2008

Annual report (PDF), new

20/03/2008

Board, changed

20/03/2008

Company representatives, changed

20/03/2008

Authorised signatory, changed

28/01/2008

Authorised signatory, changed

28/01/2008

Board, changed

28/01/2008

Company representatives, changed

17/08/2007

Board, changed

14/08/2007

Annual account, new

01/08/2007

Company representatives, changed

01/08/2007

Board, changed

01/08/2007

Authorised signatory, changed

21/08/2006

Annual account, new

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

-

 

 

NOTES & COMMENTS

 

Na

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.05

UK Pound

1

Rs.71.92

Euro

1

Rs.64.37

 

 

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.