MIRA
INFORM REPORT
|
Report Date : |
27.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
FORMOX AB |
|
|
|
|
Registered Office : |
28480 Perstorp |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2010 |
|
|
|
|
Date of Incorporation : |
27.06.2008 |
|
|
|
|
Com. Reg. No.: |
5567604235 |
|
|
|
|
Legal Form : |
Limited Liability Company |
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|
|
|
Line of Business : |
Manufacture of Other Chemical Products |
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|
|
|
No. of Employees : |
63 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
1.400.000 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
Company Summary
|
Business Name |
Formox AB |
|
Country |
SWEDEN |
|
Company
Registration Number |
5567604235 |
|
Main Activity |
Manufacture of other chemical products n.e.c. |
|
Activity Code |
20590 |
|
Company Status |
Active |
|
Latest Turnover
Figure |
306.287.000 SEK |
|
Latest
Shareholder Equity Figure |
17.116.000 SEK |
|
Credit Limit |
1.400.000 SEK |
|
Basic Information |
|
|
Business Name |
Formox AB |
|
Registered
Company Name |
Formox AB |
|
Company
Registration Number |
5567604235 |
|
Country |
SWEDEN |
|
VAT Registration
Number |
SE556760423501 |
|
Date of Company
Registration |
27/06/2008 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active |
|
Currency of this
Report |
SEK |
|
Principal
Activity Description |
Bolaget skall direkt eller indirekt, genom dotterbolag,
utveckla, tillverka och fφrsδlja formalinbaserade produkter, katalysatorer
fφr formalintillverkning, samt upplεta, φverlεta och fφrvδrva licenser
avseende sεdana produkter och bedriva dδrmed fφrenlig |
|
Contact Address |
28480 PERSTORP |
|
Contact
Telephone Number |
0435-38000 |
CREDIT RECOMENDATION
Current Credit Limit: 1.400.000 SEK
DIRECTORS/MANAGEMENT
|
Current
Directors |
|||||
|
Name |
Appointment
Date |
Position |
|
||
|
Mats Olle Persson |
27/06/2008 |
Actual Member of Board |
|
||
|
Marie Grφnborg |
27/06/2008 |
Actual Member of Board |
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||
|
Thord Martin Hemborg |
29/03/2010 |
Actual Member of Board |
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||
|
Previous
Directors |
|||||
|
Name |
Appointment
Date |
Position |
Resignation Date |
||
|
Karl Εke Gunnar Modalen |
27/06/2008 |
Actual Member of Board |
29/03/2010 |
||
|
Nils Klas Ingvar Gard |
27/06/2008 |
Actual Member of Board |
26/06/2009 |
||
NEGATIVE INFORMATION
Na
SHARE & SHARE CAPITAL
INFORMATION
|
Issued Share
Capital |
100.000 SEK |
PAYMENT 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 |
- |
GROUP STRUCTURE & AFFILIATED
COMPANIES
|
Ultimate Holding
Parent |
|
|
|
Ultimate Holding
Company Name |
Perstorp Holding AB |
|
|
Ultimate Holding
Company Country |
SWEDEN |
5566674205 |
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Immediate
Holding Parent |
||
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No information for this company.
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Subsidary
Companies |
||
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Subsidiary Name |
Country |
Number |
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No subsidaries 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
|
Profit and Loss |
||||||||||
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Financial Year |
2010 |
2009 |
2008 |
|||||||
|
Number of Weeks |
52 |
52 |
30 |
|||||||
|
Currency |
SEK |
SEK |
SEK |
|||||||
|
Conslotidated
Accounts |
N |
N |
N |
|||||||
|
Revenue |
306.311.000 |
431.831.000 |
144.838.000 |
|||||||
|
Operating Costs |
283.898.000 |
389.763.000 |
121.303.000 |
|||||||
|
Operating Profit |
22.413.000 |
42.068.000 |
23.535.000 |
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Wages &
Salaries |
- |
- |
- |
|||||||
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Depreciation |
- |
- |
- |
|||||||
|
Financial Income |
10.000 |
359.000 |
579.000 |
|||||||
|
Financial
Expenses |
-16.886.000 |
-16.507.000 |
-452.000 |
|||||||
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Extraordinary
Income |
- |
- |
- |
|||||||
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Extraordinary
Costs |
-16.886.000 |
-16.507.000 |
-452.000 |
|||||||
|
Profit before
Tax |
5.538.000 |
25.920.000 |
23.662.000 |
|||||||
|
Tax |
-14.375.000 |
-6.936.000 |
8.511.000 |
|||||||
|
Profit after Tax |
5.538.000 |
25.920.000 |
23.662.000 |
|||||||
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Minority
Interests |
- |
- |
- |
|||||||
|
Other
Appropriations |
48.820.000 |
10.000.000 |
-54.167.000 |
|||||||
|
Retained Profit |
39.983.000 |
18.984.000 |
-21.994.000 |
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Balance Sheet |
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Financial Year |
2010 |
2009 |
2008 |
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|
Number of Weeks |
52 |
52 |
30 |
|||||||
|
Currency |
SEK |
SEK |
SEK |
|||||||
|
Consolidated Accounts |
N |
N |
N |
|||||||
|
Land &
Buildings |
0 |
0 |
0 |
|||||||
|
Plant &
Machinery |
11.814.000 |
12.624.000 |
13.355.000 |
|||||||
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Other Tangible
Assets |
6.777.000 |
8.348.000 |
9.645.000 |
|||||||
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Total Tangible
Assets |
18.591.000 |
20.972.000 |
23.000.000 |
|||||||
|
Goodwill |
379.167.000 |
429.167.000 |
479.167.000 |
|||||||
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Other Intangible
Assets |
7.654.000 |
7.973.000 |
8.292.000 |
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Total Intangible
Assets |
386.821.000 |
437.140.000 |
487.459.000 |
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Loans To Group |
0 |
0 |
0 |
|||||||
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Other Loans |
0 |
0 |
0 |
|||||||
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Miscellaneous
Fixed Assets |
1.848.000 |
0 |
0 |
|||||||
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Total Other
Fixed Assets |
1.848.000 |
0 |
0 |
|||||||
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TOTAL FIXED
ASSETS |
407.260.000 |
458.112.000 |
510.459.000 |
|||||||
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Work In Progress |
0 |
0 |
0 |
|||||||
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Other
Inventories |
47.968.000 |
71.002.000 |
130.928.000 |
|||||||
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Total
Inventories |
47.968.000 |
71.002.000 |
130.928.000 |
|||||||
|
Trade
Receivables |
15.352.000 |
13.884.000 |
6.080.000 |
|||||||
|
Group
Receivables |
3.418.000 |
0 |
2.026.000 |
|||||||
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Miscellaneous
Receivables |
9.406.000 |
8.272.000 |
4.740.000 |
|||||||
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Total
Receivables |
28.176.000 |
22.156.000 |
12.846.000 |
|||||||
|
Cash |
0 |
0 |
0 |
|||||||
|
Other Current
Assets |
0 |
0 |
81.155.000 |
|||||||
|
TOTAL CURRENT
ASSETS |
76.144.000 |
93.158.000 |
224.929.000 |
|||||||
|
TOTAL ASSETS |
483.404.000 |
551.270.000 |
735.388.000 |
|||||||
|
Trade Payables |
20.905.000 |
13.720.000 |
8.502.000 |
|||||||
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Bank Liabilities |
0 |
0 |
0 |
|||||||
|
Group Payables |
374.555.000 |
369.671.000 |
477.781.000 |
|||||||
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Miscellaneous
Liabilities |
65.481.000 |
100.724.000 |
193.792.000 |
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|
TOTAL CURRENT
LIABILITIES |
460.941.000 |
484.115.000 |
680.075.000 |
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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 |
5.347.000 |
54.167.000 |
54.167.000 |
|||||||
|
TOTAL LONG TERM
LIABILITIES |
5.347.000 |
54.167.000 |
54.167.000 |
|||||||
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TOTAL
LIABILITIES |
466.288.000 |
538.282.000 |
734.242.000 |
|||||||
|
Called Up Share
Capital |
100.000 |
100.000 |
100.000 |
|||||||
|
Share Premium |
0 |
0 |
0 |
|||||||
|
Revenue Reserves |
52.871.000 |
20.030.000 |
-21.994.000 |
|||||||
|
Other Reserves |
-35.855.000 |
-7.142.000 |
23.040.000 |
|||||||
|
TOTAL
SHAREHOLDERS EQUITY |
17.116.000 |
12.988.000 |
1.146.000 |
|||||||
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Other Financials |
||||||||||
|
Contingent
Liabilities |
4.929.000 |
21.155.000 |
0 |
|||||||
|
Working Capital |
-384.797.000 |
-390.957.000 |
-455.146.000 |
|||||||
|
Net Worth |
-369.705.000 |
-424.152.000 |
-486.313.000 |
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|
Ratios |
||||||||||
|
Pre-Tax Profit
Margin |
1.81 % |
6.00 % |
16.34 % |
|||||||
|
Return On
Capital Employed |
0.59 % |
2.50 % |
1.67 % |
|||||||
|
Return On Total
Assets Employed |
1.15 % |
4.70 % |
3.22 % |
|||||||
|
Return On Net
Assets Employed |
32.36 % |
199.57 % |
2064.75 % |
|||||||
|
Sales/Net
Working Capital |
-0.80 |
-1.10 |
-0.32 |
|||||||
|
Stock Turnover
Ratio |
15.66 % |
16.44 % |
90.40 % |
|||||||
|
Debtor Days |
18.29 |
11.74 |
15.32 |
|||||||
|
Creditor Days |
24.91 |
11.60 |
21.43 |
|||||||
|
Current Ratio |
0.17 |
0.19 |
0.33 |
|||||||
|
Liquidity
Ratio/Acid Test |
0.06 |
0.05 |
0.14 |
|||||||
|
Current Debt
Ratio |
26.93 |
37.27 |
593.43 |
|||||||
|
Gearing |
|
|
|
|||||||
|
Equity In
Percentage |
18.07 % |
11.38 % |
0.46 % |
|||||||
|
Total Debt Ratio |
27.24 |
41.44 |
640.70 |
|||||||
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
|
Activities |
|
|
Activity Code |
Activity
Description |
|
20590 |
Manufacture of other chemical
products n.e.c. |
|
33200 |
Installation of industrial machinery and equipment |
|
24450 |
Other non-ferrous metal production |
|
23440 |
Manufacture of other technical ceramic products |
|
Main Address |
||
|
Address |
Country |
Telephone |
|
, 28480 PERSTORP |
SWEDEN |
0435-38000 |
|
Other Address |
||
|
Address |
Country |
|
|
No other addresses for this company. |
|
|
|
Email Addresses |
|
No information for this company. |
|
Web Pages |
|
www.formox.com |
|
Employee
Information |
|
|
Year |
Number of
Employees |
|
2010 |
63 |
|
2009 |
58 |
|
2008 |
65 |
|
Advisors |
|
|
Auditor Name |
Sven Mattias Lamme |
|
Auditor Name |
Φhrlings PricewaterhouseCoopers AB |
|
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 |
20590 |
|
Activity
Description |
Manufacture of other chemical products n.e.c. |
|
Industry Average
Credit Limit |
2.790.000 SEK |
|
Event History |
|
|
Event Date |
Event
Description |
|
20/01/2012 |
Board, changed |
|
06/07/2011 |
Annual account, new |
|
06/07/2011 |
Limit, decrease |
|
24/06/2011 |
Annual report (PDF), new |
|
29/03/2011 |
Fax number, removed |
|
28/07/2010 |
Annual account, new |
|
28/07/2010 |
Limit, increase |
|
09/07/2010 |
Annual report (PDF), new |
|
30/03/2010 |
Company representatives, changed |
|
30/03/2010 |
Board, changed |
|
30/03/2010 |
Authorised signatory, changed |
|
17/07/2009 |
Annual account, new |
|
06/07/2009 |
Annual report (PDF), new |
|
29/06/2009 |
Board, changed |
|
29/06/2009 |
Authorised signatory, changed |
|
29/06/2009 |
Company representatives, changed |
|
29/08/2008 |
Employment tax, changed |
|
05/08/2008 |
VAT, changed |
|
26/07/2008 |
Company tax, changed |
|
05/07/2008 |
Address, changed |
|
30/06/2008 |
Authorised signatory, changed |
|
30/06/2008 |
Company representatives, changed |
|
30/06/2008 |
Company business activity, changed |
|
30/06/2008 |
Board, changed |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.02 |
|
|
1 |
Rs.78.05 |
|
Euro |
1 |
Rs.65.13 |
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 SCs 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.