MIRA INFORM REPORT

Report Date :

21.09.2011

IDENTIFICATION DETAILS

Name :	MATTBOLAGET I BORÅS AB

Registered Office :	Maskingatan 4, 50462 Borås

Country :	Sweden

Financials (as on) :	2010

Date of Incorporation :	13.01.1993

Com. Reg. No.:	5564595162

Legal Form :	Limited Liability Company

Line of Business :	Wholesale of furniture, carpets and lighting equipment

RATING & COMMENTS

MIRA’s Rating :

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 :	4.050.000 SEK
Status :	Satisfactory
Payment Behaviour :	Usually Correct
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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Sweden

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

REGISTERED NAME & COMPANY SUMMARY

Company Summary

Business Name	Mattbolaget i Borås AB
Country	SWEDEN
Company Registration Number	5564595162
Main Activity	Wholesale of furniture, carpets and lighting equipment
Activity Code	46470
Company Status	Active
Latest Turnover Figure	50.051.000 SEK
Latest Shareholder Equity Figure	7.528.000 SEK

CREDIT recommendation

Current Credit Limit: 4.050.000 SEK

DIRECTORS/MANAGEMENT

Directors/Managers

Current Directors
Name	Appointment Date	Position
Karl Mikael Falck	13/01/1993	Actual Member of Board
Pauline Margareta Hansson	30/10/2003	Substitute

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	-

SHARE & SHARE CAPITAL INFORMATION

Share Capital Structure

Issued Share Capital

300.000 SEK

PAYMENT INFORMATION

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

No group structure for this company.

FINANCIAL INFORMATION

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	50.051.000	40.694.000	42.682.000
Operating Costs	45.204.000	37.403.000	39.857.000
Operating Profit	4.847.000	3.291.000	2.825.000
Wages & Salaries	-4.073.000	-3.216.000	-3.572.000
Depreciation	-66.000	-154.000	-156.000
Financial Income	37.000	-	28.000
Financial Expenses	-388.000	-1.141.000	-605.000
Extraordinary Income	-	-	-
Extraordinary Costs	-388.000	-1.141.000	-605.000
Profit before Tax	4.496.000	2.149.000	2.249.000
Tax	-1.044.000	-469.000	-495.000
Profit after Tax	4.496.000	2.149.000	2.249.000
Minority Interests	-	-	-
Other Appropriations	-610.000	-550.000	-550.000
Retained Profit	2.843.000	1.130.000	1.203.000

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	0	0	0
Other Tangible Assets	99.000	165.000	305.000
Total Tangible Assets	99.000	165.000	305.000
Goodwill	0	0	0
Other Intangible Assets	0	0	0
Total Intangible Assets	0	0	0
Loans To Group	0	0	0
Other Loans	0	0	0
Miscellaneous Fixed Assets	0	0	0
Total Other Fixed Assets	0	0	0
TOTAL FIXED ASSETS	99.000	165.000	305.000
Work In Progress	0	0	0
Other Inventories	10.208.000	10.471.000	12.268.000
Total Inventories	10.208.000	10.471.000	12.268.000
Trade Receivables	12.519.000	8.027.000	8.224.000
Group Receivables	0	0	0
Miscellaneous Receivables	345.000	263.000	589.000
Total Receivables	12.864.000	8.290.000	8.813.000
Cash	101.000	551.000	636.000
Other Current Assets	0	0	0
TOTAL CURRENT ASSETS	23.173.000	19.311.000	21.717.000
TOTAL ASSETS	23.272.000	19.476.000	22.022.000
Trade Payables	2.141.000	3.984.000	4.490.000
Bank Liabilities	0	0	0
Group Payables	0	0	0
Miscellaneous Liabilities	3.178.000	2.465.000	2.763.000
TOTAL CURRENT LIABILITIES	5.319.000	6.449.000	7.253.000
Bank Liabilities Due After 1 Year	6.572.000	3.156.000	2.658.000
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	3.854.000	4.387.000	7.156.000
TOTAL LONG TERM LIABILITIES	10.426.000	7.543.000	9.814.000
TOTAL LIABILITIES	15.744.000	13.991.000	17.067.000
Called Up Share Capital	300.000	300.000	300.000
Share Premium	50.000	50.000	50.000
Revenue Reserves	7.118.000	5.075.000	4.545.000
Other Reserves	60.000	60.000	60.000
TOTAL SHAREHOLDERS EQUITY	7.528.000	5.485.000	4.955.000

Other Financials
Contingent Liabilities	0	0	0
Working Capital	17.854.000	12.862.000	14.464.000
Net Worth	7.528.000	5.485.000	4.955.000

Ratios
Pre-Tax Profit Margin		8.98 %	5.28 %		5.27 %
Return On Capital Employed		15.73 %	8.29 %		7.68 %
Return On Total Assets Employed		19.32 %	11.03 %		10.21 %
Return On Net Assets Employed		59.72 %	39.18 %		45.39 %
Sales/Net Working Capital		2.80	3.16		2.95
Stock Turnover Ratio		20.40 %	25.73 %		28.74 %
Debtor Days		91.30	72.00		70.33
Creditor Days		15.61	35.73		38.40
Current Ratio		4.36	2.99		2.99
Liquidity Ratio/Acid Test	2.44	1.37		1.30
Current Debt Ratio	0.71	1.18		1.46
Gearing	91.07 %	83.56 %		149.42 %
Equity In Percentage	32.35 %	28.16 %		22.50 %
Total Debt Ratio	2.09	2.55

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Activities
Activity Code	Activity Description
46470	Wholesale of furniture, carpets and lighting equipment

Contact Information

Main Address
Address	Country	Telephone
Maskingatan 4, 50462 BORÅS	SWEDEN	033-108505

Other Address
Address	Country
No other addresses for this company.

Email Addresses

No information for this company.

Web Pages

www.mattbolaget.se

Other Information

Employee Information
Year	Number of Employees
2010	10
2009	9
2008	9
2007	9
2006	7

Advisors
Auditor Name	Hans Carl Patrik Delborn

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	46470
Activity Description	Wholesale of furniture, carpets and lighting equipment
Event History
Event Date	Event Description
29/03/2011	Fax number, removed
21/02/2011	Annual account, new
21/02/2011	Limit, increase
16/02/2011	Annual report (PDF), new
16/02/2010	Annual account, new
16/02/2010	Limit, decrease
11/02/2010	Annual report (PDF), new
08/12/2009	Authorised signatory, changed
12/02/2009	Annual account, new
06/02/2009	Annual report (PDF), new
29/01/2008	Annual account, new
21/03/2007	Address, changed
14/03/2007	Address, changed
15/02/2007	Annual account, new

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.22
UK Pound	1	Rs.75.63
Euro	1	Rs.65.64

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.

Basic Information
Business Name	Mattbolaget i Borås AB
Registered Company Name	Mattbolaget i Borås AB
Company Registration Number	5564595162
Country	SWEDEN
VAT Registration Number	SE556459516201
Date of Company Registration	13/01/1993
Legal Form	Limited liability company
Company Status	Active
Currency of this Report	SEK
Principal Activity Description	The company is trading with wallpaper, flooring plastic, paint, flowers, toys, gifts, cosmetics, carpets, furniture and other household articles and related business.
Contact Address	50462 BORÅS
Contact Telephone Number	033-108505