MIRA INFORM REPORT

 

 

Report Date :

02.07.2012

 

IDENTIFICATION DETAILS

 

Name :

HASTENS SANGAR TILLVERKNING AB

 

 

Registered Office :

Koping, 73123

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1999    

 

 

Com. Reg. No.:

5565812996

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

manufacturing innerspring, box spring, and noninnerspring mattresses, including mattresses for waterbeds

 

 

No. of Employees :

97

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Sweden

a2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

Company name & address 

 

HAstens SAngar Tillverkning AB

Koping, 73123

Sweden

Tel:       +46 221 274 00

 Web:   www.hastens.com

           

 

Registration data 

 

Employees:                  97

Company Type:            Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:             HAstens SAngar AB

Incorporation Date:         1999   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Swedish Krona

Annual Sales:               17.3

Net Income:                   0.1

Total Assets:                 8.0

 

 

Business Description     

 

Hastens Sangar Tillverkning AB is primarily engaged in manufacturing innerspring, box spring, and noninnerspring mattresses, including mattresses for waterbeds.

 

Industry             

Industry            Furniture and Fixtures

ANZSIC 2006:    2513 - Mattress Manufacturing

NACE 2002:      3615 - Manufacture of mattresses

NAICS 2002:     337910 - Mattress Manufacturing

UK SIC 2003:    3615 - Manufacture of mattresses

US SIC 1987:    2515 - Mattresses, Foundations, and Convertible Beds

 

           

Key Executives   

 

Name                           Title    

Jan David Ryde              verkst dir, ledamot         

 

 Registered No.(SWE): 5565812996

 

1 - Profit & Loss Item Exchange Rate: USD 1 = SEK 7.206564

2 - Balance Sheet Item Exchange Rate: USD 1 = SEK 6.72285

 

 

Corporate Overview

 

Location

KOping, 73123

Sweden

Tel:       +46 221 274 00

Web:    www.hastens.com

           

Sales SEK(mil):             125.0

Assets SEK(mil):           54.0

Employees:                   97

Fiscal Year End:            31-Dec-2010

Industry:                        Furniture and Fixtures

Incorporation Date:         1999

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(SWE):    5565812996

verkst dir, ledamot:         Jan David Ryde

 

Contents

Industry Codes

Business Description

Financial Data

 

Industry Codes

 

ANZSIC 2006 Codes:

2513     -          Mattress Manufacturing

2511     -          Wooden Furniture and Upholstered Seat Manufacturing

 

NACE 2002 Codes:

3615     -          Manufacture of mattresses

3611     -          Manufacture of chairs and seats

 

NAICS 2002 Codes:

337910  -          Mattress Manufacturing

33791   -          Mattress Manufacturing

337121  -          Upholstered Household Furniture Manufacturing

 

US SIC 1987:

2512     -          Wood Household Furniture, Upholstered

2515     -          Mattresses, Foundations, and Convertible Beds

 

UK SIC 2003:

3611     -          Manufacture of chairs and seats

3615     -          Manufacture of mattresses

 

Business Description

Hastens Sangar Tillverkning AB is primarily engaged in manufacturing innerspring, box spring, and noninnerspring mattresses, including mattresses for waterbeds.

 

Financial Data

Financials in:

SEK(mil)

 

Revenue:

125.0

Net Income:

0.5

Assets:

54.0

Total Liabilities:

53.4

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

NA

NA

 

 

 

Corporate Family

Corporate Structure News:

 

HAstens SAngar AB
HAstens SAngar Tillverkning AB

HAstens SAngar Tillverkning AB 
Total Corporate Family Members: 2 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

HAstens SAngar AB

Parent

KOping, VAstmanland

Sweden

Furniture and Fixtures

47.2

175

 

HAstens SAngar Tillverkning AB

Subsidiary

KOping, VAstmanland

Sweden

Furniture and Fixtures

17.3

97

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Jan David Ryde

 

verkst dir, ledamot

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Jan David Ryde

 

verkst dir, ledamot

Managing Director

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

SEK

SEK

SEK

Exchange Rate (Period Average)

7.206564

7.645194

6.599156

Consolidated

No

No

No

 

 

 

 

Total Revenue

21.2

18.0

31.2

Gross Profit

0.7

-2.3

0.1

Net Financial Items

-0.1

-0.2

0.0

Operating Income

0.2

-2.3

0.1

Income Before Tax

0.1

-2.5

0.1

Net Income

0.1

-1.9

0.1

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

SEK

SEK

SEK

Exchange Rate

6.72285

7.1401

7.90795

Consolidated

No

No

No

 

 

 

 

Total Assets

8.0

9.3

11.2

Total Liabilities

7.9

9.3

11.2

Total Equity

0.1

0.0

0.0

 

 

Annual Ratios

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Operating Margin

0.87

-12.87

0.48

Current Ratio

101.25

108.61

100.05

Total debt/total equity

1.16

0.18

0.17

Return on average equity

114.94

-15,736.70

597.97

 

 

Annual Growth Rates

 

 

 

 

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Turnover Percent Change

11.04%

-33.24%

Marginal Contribution Percent Change

130.33%

-2,212.66%

Net Financial Items Percent Change

49.67%

-2,548.98%

Operating Results Percent Change

107.50%

-2,212.66%

Profit/Loss Before Tax Percent Change

103.83%

-2,233.79%

Profit/Loss for the Year Percent Change

103.59%

-2,297.83%

Assets Percent Change

-18.76%

-25.13%

Debts Percent Change

-19.56%

-25.14%

Equity Capital Percent Change

424.17%

-18.92%

Operating Margin Percent Change

106.76%

-2,781.25%

Current Ratio Percent Change

-6.78%

8.56%

Debt/Equity Ratio Percent Change

544.44%

5.88%

Retun On Equity Percent Change

100.73%

-2,731.69%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.31

UK Pound

1

Rs.88.06

Euro

1

Rs.70.91

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.