MIRA
INFORM REPORT
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Report Date : |
07.11.2012 |
IDENTIFICATION DETAILS
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Name : |
NOREX INTERNATIONAL AB |
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Registered Office : |
Ringogatan 12 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1991 |
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Com. Reg. No.: |
5564304425 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesaler of waste and scrap |
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No. of Employees : |
52 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Sweden |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
sweden - ECONOMIC OVERVIEW
Aided by peace and neutrality for the whole of the 20th century, Sweden has
achieved an enviable standard of living under a mixed system of high-tech
capitalism and extensive welfare benefits. It has a modern distribution system,
excellent internal and external communications, and a highly skilled labor
force. In September 2003, Swedish voters turned down entry into the euro system
concerned about the impact on the economy and sovereignty. Timber, hydropower,
and iron ore constitute the resource base of an economy heavily oriented toward
foreign trade. Privately owned firms account for vast majority of industrial
output, of which the engineering sector accounts for about 50% of output and
exports. Agriculture accounts for little more than 1% of GDP and of employment.
Until 2008, Sweden was in the midst of a sustained economic upswing, boosted by
increased domestic demand and strong exports. This and robust finances offered
the center-right government considerable scope to implement its reform program
aimed at increasing employment, reducing welfare dependence, and streamlining the
state's role in the economy. Despite strong finances and underlying
fundamentals, the Swedish economy slid into recession in the third quarter of
2008 and growth continued downward in 2009 as deteriorating global conditions
reduced export demand and consumption. Strong exports of commodities and a
return to profitability by Sweden''s banking sector drove the strong rebound in
2010, which continued in 2011, and the government is proposing stimulus
measures in the 2012 budget to curb the effects of a global economic slowdown
and boost employment and growth.
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Source : CIA |
Company name and address
Norex International
AB
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Business Description
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Norex International AB is primarily engaged in the merchant wholesale
distribution of automotive scrap, industrial scrap, and other recyclable
materials. Included in this industry are auto wreckers primarily engaged in
dismantling motor vehicles for the purpose of wholesaling scrap. |
Industry
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Industry |
Waste Management Services |
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ANZSIC 2006: |
3322 - Metal and Mineral Wholesaling |
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NACE 2002: |
5157 - Wholesale of waste and scrap |
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NAICS 2002: |
423930 - Recyclable Material Merchant Wholesalers
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UK SIC 2003: |
5157 - Wholesale of waste and scrap |
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US SIC 1987: |
5093 - Scrap and Waste Materials |
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Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = SEK 7.206564
2 - Balance Sheet Item Exchange Rate: USD 1 = SEK 6.72285
Corporate Overview
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Corporate Structure News
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Norex
International AB |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Hergit AB |
Parent |
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Subsidiary |
Göteborg, Västra Götaland |
Sweden |
Waste Management Services |
63.9 |
52 |
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Subsidiary |
Göteborg, Västra Götaland |
Sweden |
Miscellaneous Fabricated Products |
3.4 |
14 |
Executives Report
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Annual Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
SEK |
SEK |
SEK |
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Exchange Rate
(Period Average) |
7.206564 |
7.645194 |
6.599156 |
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Consolidated |
Yes |
Yes |
Yes |
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Total Revenue |
66.3 |
59.6 |
86.1 |
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Gross Profit |
8.9 |
7.5 |
5.6 |
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Net Financial Items |
-0.5 |
-0.7 |
-3.3 |
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Operating Income |
6.1 |
4.5 |
2.9 |
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Income Before Tax |
5.6 |
3.8 |
-0.4 |
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Net Income |
3.8 |
2.5 |
-0.6 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
SEK |
SEK |
SEK |
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Exchange Rate |
6.72285 |
7.1401 |
7.90795 |
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Consolidated |
Yes |
Yes |
Yes |
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Total Assets |
34.7 |
30.1 |
35.7 |
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Total Liabilities |
22.0 |
20.4 |
29.3 |
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Total Equity |
12.7 |
9.8 |
6.5 |
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Annual Ratios |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
- |
- |
- |
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Exchange Rate |
- |
- |
- |
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Consolidated |
Yes |
Yes |
Yes |
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Operating Margin |
9.30 |
7.67 |
4.20 |
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Current Ratio |
169.43 |
184.29 |
146.73 |
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Total debt/total equity |
36.58 |
32.39 |
18.14 |
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Return on average equity |
47.69 |
42.15 |
-4.81 |
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Annual Growth
Rates |
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31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
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Filed Currency |
- |
- |
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Exchange Rate |
- |
- |
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Consolidated |
Yes |
Yes |
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Turnover Percent Change |
4.87% |
-19.74% |
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Marginal Contribution Percent Change |
12.64% |
54.76% |
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Net Financial Items Percent Change |
37.75% |
75.74% |
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Operating Results Percent Change |
27.05% |
81.59% |
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Profit/Loss Before Tax Percent Change |
38.48% |
1,272.79% |
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Profit/Loss for the Year Percent Change |
42.50% |
554.97% |
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Assets Percent Change |
8.43% |
-23.89% |
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Debts Percent Change |
1.70% |
-37.15% |
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Equity Capital Percent Change |
22.46% |
35.91% |
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Operating Margin Percent Change |
21.25% |
82.62% |
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Current Ratio Percent Change |
-8.06% |
25.60% |
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Debt/Equity Ratio Percent Change |
12.94% |
78.56% |
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Return On Equity Percent Change |
13.14% |
976.30% |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.60 |
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UK Pound |
1 |
Rs.87.31 |
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Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.