MIRA INFORM REPORT

Report Date :

31.03.2011

IDENTIFICATION DETAILS

Name :	BROSON AKTIEBOLAG

Registered Office :	Box 84 44700 Vårgårda Västra Götaland

Country :	Sweden

Financials (as on) :	31.12.2009

Date of Incorporation :	12.05.1922

Com. Reg. No.:	5560207838

Legal Form :	Private Companies AB

Line of Business :	Manufacture of Industrial Supplies, Preferably Hardware, and also Related Motion.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	(KSEK) 25,000
Status :	Very 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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Sweden

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Summary

Company Details
Company Name	Broson Aktiebolag
Registered Number	5560207838
Address	Box 84
Town	VÅRGÅRDA
PostCode	44700 VÅRGÅRDA
Region	VÄSTRA GÖTALAND
Telephone	0322-626400
Fax	0322-626480
Legal Form	A2
Currency	KSEK (all financial data is in thousands)
Share Capital	5,000
Registration Date	12/05/1922
Email	anders.heleander@broson.se
Web Address	www.broson.se
Company Type	Private Companies AB

Credit Information Summary
Credit Limit (KSEK)	25,000
Purchase Limit	61,500
Date of Latest Accounts	31/12/2009
Net Sales	245,811
Profit After Financial Items	-635
Net Worth	41,983

Court Data Summary
Record of Non-Payment
Number Of CCJs	0
Number Of Taxation Claims	0
Number Of Payment Applications	0
Debt Balance at Kronofogdemyndigheten
Balance Single (KSEK)	0
Balance Common ROP (KSEK)	0
Total (KSEK)	0
Number Single	0
Number Common	0
Total Number	0

Additional Information

Company Details
Company Number	5560207838
Company Name	Broson Aktiebolag
Activity Description	The Company shall carry on trade with the manufacture of industrial supplies, preferably HARDWARE, and also related motion.
Trade Code	46741
Trade Description	General Hardware, Wholesale

Taxes & Charges
Registered FTax	Yes
Registered VAT	Yes
Registered Employee Tax	Yes

Other Information
Accountant Audited (YES/NO)	Yes
Employees	44
Floating Charge	13000

Accounts & Ratios

Period
Company Number	5560207838	Changes	5560207838	Changes	5560207838
Accounts End Date	2009-12-31T00:00:00	%	2008-12-31T00:00:00	%	2007-12-31T00:00:00
Number Of Months	12	-	12	-	12
Currency	KSEK	-	KSEK	-	KSEK
Profit & Loss
Turnover	245,811	-30.3%	352,458	7.5%	327,921
Total Operating Expenses	246,228	-27.7%	340,602	8.2%	314,930
Operating Result	-417	-103.5%	11,856	-8.7%	12,991
Total Financial Income	136	-65.5%	394	-20.2%	494
Total Financial Expenses	354	-31.3%	515	24.1%	415
Profit Loss After Financial Items	-635	-105.4%	11,735	-10.2%	13,070
Taxation	157	-94.2%	2,691	-7.7%	2,916
Group Contribute	0	-	0	-	0
Extraordinary Items	0	-	0	-	0
Other Appropriations	839	126.4%	-3,178	10.5%	-3,549
Minority Interest And Profit	0	-	0	-	0
Net Result	47	-99.2%	5,866	-11.2%	6,605
Other Information
- Employee Costs	7,961	-22.1%	10,224	29.3%	7,908
- Dividends	0	-100.0%	6,000	0.0%	6,000

Balance Sheet
Accounts End Date	2009-12-31T00:00:00	%	2008-12-31T00:00:00	%	2007-12-31T00:00:00
Number Of Months	12		12		12
Currency	KSEK	-	KSEK	-	KSEK
Intangible Fixed Assets	0	-	0	-	0
- Goodwill	0	-	0	-	0
- Other Intangible Assets	0	-	0	-	0
Tangible Fixed Assets	11,493	-15.3%	13,568	8.8%	12,472
- Land And Buildings	8,271	-2.9%	8,514	12.5%	7,569
- Plant And Machinery	0	-	0	-	0
- Other Tangible Fixed Assets	3,222	-36.2%	5,054	-	0
Financial Fixed Assets	200	0.0%	200	0.0%	200
Total Fixed Assets	11,693	-15.1%	13,768	8.6%	12,672
Inventories	25,180	-35.1%	38,800	34.5%	28,851
Trade Accounts Receivable	28,970	4.1%	27,825	-26.6%	37,929
- Cash	449	-88.2%	3,791	-37.7%	6,082
- Miscellaneous Current Assets	5,941	23.8%	4,799	13.0%	4,246
Total Current Assets	60,540	-19.5%	75,215	-2.5%	77,108

Current Liabilities
- Trade Creditors	10,664	-36.6%	16,812	-19.8%	20,962
- Short Term Group Loans	1,406	-81.1%	7,434	2.0%	7,289
- Other Short Term Loans	0	-	0	-	0
- Miscellaneous Current Liabilities	7,384	6.1%	6,958	1.4%	6,860
Total Current Liabilities	19,454	-37.7%	31,204	-11.1%	35,111
Long Term Debts
- Long Term Group Loans	0	-	0	-	0
- Other Long Term Loans	2,000	-	0	-	0
- Other Long Term Liabilities	0	-	0	-	0
Total Long Term Debts	2,000	-	0	-	0
Shareholders Equity
Issued Share Capital	5,000	0.0%	5,000	0.0%	5,000
Share Premium Account	0	-	0	-	0
Other Share Capital And Reserves	19,829	-22.7%	25,661	-0.1%	25,677
Revaluation Reserve	2,123	-5.4%	2,244	-5.0%	2,362
Shareholders Equity	41,983	-13.9%	48,775	6.7%	45,731

Working Capital	41,086	-6.6%	44,011	4.8%	41,997
Net Worth	41,983	-13.9%	48,775	6.7%	45,731

Ratios Analysis

Return On Capital	-0.02	-106.4%	0.27	-14.5%	0.31
Return On Capital Employed	0.00	-102.9%	0.14	-8.0%	0.15
Profit Margin	0.00	-105.9%	0.03	-15.0%	0.04
Gross Profit Margin	0.13	-11.3%	0.15	0.7%	0.15
Capital Turnover	3.40	-14.1%	3.96	8.5%	3.65
Solidity	0.52	5.0%	0.50	6.0%	0.47
Rate Of Return	-0.79	-103.3%	23.79	-26.8%	32.49

Acid Test Ratio	1.82	55.8%	1.17	-15.1%	1.37
Inventory Turnover	6.66	-24.8%	8.86	-12.4%	10.11
Average Payment Period	34.41	49.3%	23.05	-31.7%	33.77
Turnover / Employee	5,586.61	-27.1%	7,662.13	0.5%	7,626.07
Average Debt Equity Ratio	0.01	0.0%	0.01	27.3%	0.01
Cash Flow From Operation	0.00	-111.5%	0.03	-16.1%	0.03
Accounts Receivable Turnover	8.49	-33.0%	12.67	46.5%	8.65

Record of Payment / Debt Balance

Company CCJ's
No CCJ's for this company.

Company Tax Charges
No CCJ's for this company.

Company Debt Balance
No company debt balance for this company.

Event History

Event Date	Event Description
07/03/2011	Certificate deregistered
18/06/2010	New annual account
10/06/2010	New annual report (PDF)
01/09/2009	Change in company representatives
01/09/2009	Board changed
01/09/2009	Authorised signatory changed
02/06/2009	New annual account
21/05/2009	New annual report (PDF)
27/05/2008	New annual account
23/05/2008	New annual report (PDF)
03/05/2008	Authorised signatory changed
03/05/2008	Board changed
03/05/2008	Change in company representatives
03/05/2007	Authorised signatory changed
03/05/2007	Change in company representatives
03/05/2007	Board changed
02/05/2007	New annual account
25/08/2006	Board changed
11/08/2006	New annual account

roup Structure

Ultimate Parent Company
Ultimate Parent Company	Sönnichen A/S
Companies in Group	2
Company Name	Company Number
Sönnichen A/S	Foreign (NO)
Broson Aktiebolag	Foreign (SE)

Directors

Director
Company Number	5560207838
Person Number	5704260000
Person Name	Hennum, Anders
From Date	30/04/2008
To Date	//
Person Function	Ledamot

Director
Company Number	5560207838
Person Number	4412080000
Person Name	Jansby Sven Erik
From Date	//
To Date	//
Person Function	Ledamot

Director

Company Number

5560207838

Person Number

5504232017

Person Name

Järvelä, Juha Olavi

From Date

10/09/2005

To Date

Person Function

Ledamot

Director Engagement
Person Number	5504232017
Company Enagement Number	550423201701
Company Engagement Name	JUHA JÄRVELÄ CONSULTING
Person Function	Innehavare

Director
Company Number	5560207838
Person Number	5011075669
Person Name	Turesson, Ann-Britt Eva Sofia
From Date	02/05/2007
To Date	//
Person Function	Ledamot

Director
Company Number	5560207838
Person Number	4608310000
Person Name	Sandaker, Tor Asbjörn
From Date	30/04/2008
To Date	//
Person Function	Suppleant

Director
Company Number	5560207838
Person Number	7501205681
Person Name	Savinainen, Kristina Linnéa
From Date	02/05/2007
To Date	//
Person Function	Suppleant

Director
Company Number	5560207838
Person Number	5704260000
Person Name	Hennum, Anders
From Date	31/08/2009
To Date	//
Person Function	Ordförande

Director

Company Number

5560207838

Person Number

4611025513

Person Name

Heleander, Anders Lars Åke

From Date

To Date

Person Function

Extern verkställande direktör

Director Engagement
Person Number	4611025513
Company Enagement Number	5567079297
Company Engagement Name	Vårgårda Golf och Fritid AB
Person Function	Ledamot

Director Engagement
Person Number	4611025513
Company Enagement Number	5567359509
Company Engagement Name	Broson ADF Aktiebolag
Person Function	Ledamot

Director Engagement
Person Number	4611025513
Company Enagement Number	5567379788
Company Engagement Name	Broson Fastigheter Aktiebolag
Person Function	Ledamot

Director
Company Number	5560207838
Person Number	5704260000
Person Name	Hennum, Anders
From Date	30/04/2008
To Date	//
Person Function	Utlandsbosatt inom EES

Director
Company Number	5560207838
Person Number	4412080000
Person Name	Jansby Sven Erik
From Date	01/11/2003
To Date	//
Person Function	Utlandsbosatt inom EES

Director
Company Number	5560207838
Person Number	4608310000
Person Name	Sandaker, Tor Asbjörn
From Date	10/09/2005
To Date	//
Person Function	Utlandsbosatt inom EES

Director
Company Number	5560207838
Person Number	7501205681
Person Name	Savinainen, Kristina Linnéa
From Date	02/05/2007
To Date	//
Person Function	Arbetstagarrepresentant

Director
Company Number	5560207838
Person Number	5011075669
Person Name	Turesson, Ann-Britt Eva Sofia
From Date	01/11/2003
To Date	//
Person Function	Arbetstagarrepresentant

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.77
UK Pound	1	Rs.71.69
Euro	1	Rs.63.02

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.