MIRA
INFORM REPORT
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Report Date : |
20.09.2012 |
IDENTIFICATION DETAILS
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Name : |
SAARIOINEN OY |
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Registered Office : |
Jarvensivuntie 1 PO Box 108 Tampere, 33101 |
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Country : |
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Financials (as on) : |
01.12.2011 |
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Year of Establishment : |
1955 |
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Com. Reg. No.: |
01528958 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Production of meat and poultry meat products |
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No. of Employees : |
2,138 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Finland |
A2 |
A2 |
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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 |
FINLAND - ECONOMIC OVERVIEW
Finland has a highly
industrialized, largely free-market economy with per capita output roughly that
of Austria, Belgium, the Netherlands, and Sweden. Trade is important with
exports accounting for over one third of GDP in recent years. Finland is
strongly competitive in manufacturing - principally the wood, metals,
engineering, telecommunications, and electronics industries. Finland excels in
high-tech exports such as mobile phones. Except for timber and several
minerals, Finland depends on imports of raw materials, energy, and some
components for manufactured goods. Because of the climate, agricultural development
is limited to maintaining self-sufficiency in basic products. Forestry, an
important export earner, provides a secondary occupation for the rural
population. Finland had been one of the best performing economies within the EU
in recent years and its banks and financial markets avoided the worst of global
financial crisis. However, the world slowdown hit exports and domestic demand
hard in 2009, with Finland experiencing one of the deepest contractions in the
euro zone. A recovery of exports, domestic trade, and household consumption
stimulated economic growth in 2010. The recession left a deep mark on general
government finances and the debt ratio, turning previously strong budget
surpluses into deficits. In addition to marginal growth prospects, general
government finances will remain in deficit during the next few years. The great
challenge of economic policy will be to mitigate a possible recession in 2012
in which measures supporting growth will be combined with general government
adjustment measures. Longer-term, Finland must address a rapidly aging
population and decreasing productivity that threaten competitiveness, fiscal
sustainability, and economic growth.
Source
: CIA
Company name and address
Saarioinen Oy
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Business
Description
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Food industry including poultry and canned goods, snacks, preserves
and convenience foods, meat products including sausages and ice cream
products |
Industry
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Industry |
Food Processing |
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ANZSIC 2006: |
1111 - Meat Processing |
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NACE 2002: |
1513 - Production of meat and poultry meat
products |
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NAICS 2002: |
311612 - Meat Processed from Carcasses |
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UK SIC 2003: |
15139 - Other meat and poultry meat
processing |
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UK SIC 2007: |
1013 - Production of meat and poultry meat
products |
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US SIC 1987: |
2013 - Sausages and Other Prepared Meat
Products |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7189224
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7423905
Corporate Overview
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Corporate Structure News
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Total Corporate
Family Members: 5 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Kangasala |
Finland |
Miscellaneous Financial Services |
8.4 |
14 |
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Subsidiary |
Tampere |
Finland |
Food Processing |
458.4 |
2,138 |
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Subsidiary |
Sahalahti |
Finland |
Fish and Livestock |
235.4 |
903 |
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Subsidiary |
Huotinen |
Finland |
Food Processing |
79.0 |
259 |
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Subsidiary |
Tampere |
Finland |
Restaurants |
1.0 |
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Executives Report
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Annual Profit &
Loss
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01-Dec-2011 |
01-Dec-2010 |
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Period Length |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.718922 |
0.749339 |
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Consolidated |
No |
No |
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Total income |
458.4 |
69.9 |
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Cost of goods sold |
206.2 |
6.5 |
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Other operating costs |
112.0 |
51.3 |
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Total operating costs |
429.5 |
69.2 |
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Interest received from loans |
2.0 |
5.2 |
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Profit before tax |
44.0 |
9.1 |
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Total taxation |
2.6 |
2.4 |
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Income before depreciation |
33.0 |
1.1 |
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Depreciation |
22.6 |
0.9 |
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Profit before financial items |
10.4 |
0.2 |
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Other financial expenses |
4.4 |
2.7 |
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Income/profit after financial items |
8.0 |
2.7 |
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Extraordinary items |
42.0 |
46.2 |
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Income before allocations |
51.1 |
9.3 |
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Net income |
45.0 |
6.7 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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01-Dec-2011 |
01-Dec-2010 |
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Filed Currency |
EUR |
EUR |
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Exchange Rate |
0.74239 |
0.765521 |
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Consolidated |
No |
No |
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Issued capital |
12.1 |
11.7 |
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Untaxed/reserves allocations |
47.2 |
8.9 |
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Non restricted equity |
121.1 |
81.1 |
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Total stockholders equity |
133.1 |
92.8 |
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Other long-term liabilities |
56.2 |
60.4 |
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Trade creditors |
27.7 |
61.5 |
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Other current liabilities |
41.0 |
10.9 |
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Total current liabilities |
124.9 |
132.9 |
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Land and buildings |
74.9 |
6.9 |
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Machinery and tools |
60.4 |
1.0 |
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Depreciable assets |
151.8 |
12.4 |
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Total non-current assets |
195.7 |
160.9 |
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Stocks |
31.7 |
0.3 |
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Trade debtors |
58.2 |
55.6 |
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Cash and liquid assets |
19.6 |
17.8 |
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Short-term investments |
43.8 |
148.4 |
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Shares in associated companies |
41.5 |
146.1 |
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Total current assets |
109.5 |
73.7 |
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Total assets |
305.2 |
234.6 |
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Annual Ratios |
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Financials in:
USD (mil) |
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01-Dec-2011 |
01-Dec-2010 |
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Period Length |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
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Exchange Rate |
0.74239 |
0.765521 |
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Consolidated |
No |
No |
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Current ratio |
1.60 |
1.00 |
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Quick ratio |
1.10 |
1.00 |
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Asset turnover |
0.01% |
0.00% |
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Profit margin |
0.02% |
0.04% |
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Equity ratio |
0.55% |
0.42% |
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Interest on liabilities |
0.03% |
- |
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Risk margin |
1,338.42% |
778.80% |
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Net worth |
133.1 |
92.8 |
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Number of employees |
1,883 |
152 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.26 |
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1 |
Rs.88.14 |
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Euro |
1 |
Rs.71.03 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.