MIRA
INFORM REPORT
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Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAPPAHL SVERIGE AB |
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Registered Office : |
Molndal, 43124 |
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Country : |
Sweden |
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Financials (as on) : |
31.08.2011 |
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Year of Establishments: |
1954 |
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Com. Reg. No.: |
5560604158 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
manufacturing
apparel and apparel accessories |
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No. of Employees : |
1648 |
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 : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Sweden |
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 |
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.
|
Source : CIA |
Company name & address
KappAhl Sverige AB
Molndal, 43124
Sweden
Tel: +46 31 771 55 00
Fax: +46 31 771 58 15
Web: www.kappahl.se
Synthesis
Employees: 1,648
Company Type: Private Subsidiary
Corporate Family: 6
Companies
Ultimate Parent: KappAhl
AB
Incorporation Date: 1954
Financials in: USD
(Millions)
Fiscal Year End:
31-Aug-2011
Reporting Currency: Swedish
Krona
Annual Sales: 559.0
Net Income: 21.9
Total Assets:
236.2
Business Description
KappAhl Sverige AB is primarily engaged in manufacturing apparel and apparel accessories (except apparel knitting mills; cut and sew apparel contractors; cut and sew apparel; hats and caps; mittens and gloves; and men's and boys' neckwear). Jobbers for these products, who perform entrepreneurial functions involved in other apparel and accessory manufacture, including buying raw materials, designing and preparing samples, arranging for other apparel and accessories to be made from their materials, and marketing finished other apparel and accessories, are included. Examples of products made by these establishments are apparel trimmings and findings, belts, Women's scarves, and suspenders.
Industry
Industry Apparel and Accessories
ANZSIC 2006: 1351 - Clothing
Manufacturing
NACE 2002: 1824 - Manufacture
of other wearing apparel and accessories not elsewhere classified
NAICS 2002: 315999 - Other
Apparel Accessories and Other Apparel Manufacturing
UK SIC 2003: 1824 - Manufacture
of other wearing apparel and accessories not elsewhere classified
UK SIC 2007: 1419 - Manufacture
of other wearing apparel and accessories n.e.c.
US SIC 1987: 2389 - Apparel and
Accessories, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Johan Patrik Ă…berg |
verkst dir, ledamot och ordförande |
|
HĂ¥kan Westin |
Finance Manager |
|
Linda Hamberg |
Sales Director |
|
Eva Kronholm |
Administration Executive |
|
Ann-Marie Heinonen |
IT Executive |
Registered No.(SWE): 5560604158
1 - Profit & Loss Item Exchange Rate: USD 1 = SEK 6.540951
2 - Balance Sheet Item Exchange Rate: USD 1 = SEK 6.32405
Corporate Overview
Location
Molndal, 43124
Sweden
Tel: +46 31 771 55 00
Fax: +46 31 771 58 15
Web: www.kappahl.se
Sales SEK(mil): 3,656.3
Assets SEK(mil): 1,493.9
Employees: 1,648
Fiscal Year End: 31-Aug-2011
Industry: Apparel
and Accessories
Incorporation Date: 1954
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(SWE): 5560604158
verkst dir, ledamot
och ordförande:
Johan Patrik Ă…berg
Industry Codes
ANZSIC 2006 Codes:
1351 - Clothing Manufacturing
NACE 2002 Codes:
1824 - Manufacture of other wearing apparel and accessories not
elsewhere classified
1822 - Manufacture of other outerwear
182 - Manufacture of other wearing apparel and accessories
1823 - Manufacture of underwear
1821 - Manufacture of workwear
NAICS 2002 Codes:
315999 - Other Apparel Accessories and Other Apparel Manufacturing
315223 - Men's and Boys' Cut and Sew Shirt (except Work Shirt)
Manufacturing
315291 - Infants' Cut and Sew Apparel Manufacturing
3152 - Cut and Sew Apparel Manufacturing
315228 - Men's and Boys' Cut and Sew Other Outerwear Manufacturing
315221 - Men's and Boys' Cut and Sew Underwear and Nightwear
Manufacturing
315239 - Women's and Girls' Cut and Sew Other Outerwear
Manufacturing
315212 - Women's, Girls', and Infants' Cut and Sew Apparel
Contractors
315232 - Women's and Girls' Cut and Sew Blouse and Shirt Manufacturing
315211 - Men's and Boys' Cut and Sew Apparel Contractors
315231 - Women's and Girls' Cut and Sew Lingerie, Loungewear, and
Nightwear Manufacturing
31521 - Cut and Sew Apparel Contractors
31523 - Women's and Girls' Cut and Sew Apparel Manufacturing
315222 - Men's and Boys' Cut and Sew Suit, Coat, and Overcoat
Manufacturing
31529 - Other Cut and Sew Apparel Manufacturing
31522 - Men's and Boys' Cut and Sew Apparel Manufacturing
315234 - Women's and Girls' Cut and Sew Suit, Coat, Tailored Jacket,
and Skirt Manufacturing
US SIC 1987:
2389 - Apparel and Accessories, Not Elsewhere Classified
2339 - Women's, Misses', and Juniors' Outerwear, Not Elsewhere
Classified
232 - Men's and Boys' Furnishings, Work Clothing
238 - Miscellaneous Apparel and Accessories
2341 - Women's, Misses', Children's, and Infants' Underwear and
Nightwear
2322 - Men's and Boys' Underwear and Nightwear
2385 - Waterproof Outerwear
233 - Women's, Misses', and Juniors' Outerwear
23 - Apparel and Other Finished Products
Made From Fabrics and Similar Materials
2331 - Women's, Misses', and Juniors' Blouses and Shirts
5699 - Miscellaneous Apparel and Accessory Stores
2337 - Women's, Misses', and Juniors' Suits, Skirts, and Coats
2311 - Men's and Boys' Suits, Coats, and Overcoats
2369 - Girls', Children's, and Infants' Outerwear, Not Elsewhere
Classified
UK SIC 2003:
1824 - Manufacture of other wearing apparel and accessories not
elsewhere classified
182 - Manufacture of other wearing apparel and accessories
18222 - Manufacture of other women's outerwear
18231 - Manufacture of men's underwear
1821 - Manufacture of workwear
18232 - Manufacture of women's underwear
18221 - Manufacture of other men's outerwear
UK SIC 2007:
1419 - Manufacture of other wearing apparel and accessories n.e.c.
14131 - Manufacture of men's outerwear, other than leather clothes
and workwear
141 - Manufacture of wearing apparel, except fur apparel
14132 - Manufacture of women's outerwear, other than leather
clothes and workwear
1412 - Manufacture of workwear
14142 - Manufacture of women's underwear
14141 - Manufacture of men's underwear
Business
Description
KappAhl Sverige AB
is primarily engaged in manufacturing apparel and apparel accessories (except
apparel knitting mills; cut and sew apparel contractors; cut and sew apparel;
hats and caps; mittens and gloves; and men's and boys' neckwear). Jobbers for
these products, who perform entrepreneurial functions involved in other apparel
and accessory manufacture, including buying raw materials, designing and
preparing samples, arranging for other apparel and accessories to be made from
their materials, and marketing finished other apparel and accessories, are
included. Examples of products made by these establishments are apparel
trimmings and findings, belts, Women's scarves, and suspenders.
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Corporate Family |
Corporate
Structure News: |
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KappAhl Sverige AB |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Molndal |
Sweden |
Apparel and Accessories |
674.6 |
4,500 |
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Subsidiary |
Mölndal, Västra Götaland |
Sweden |
Apparel and Accessories |
559.0 |
1,648 |
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Subsidiary |
Vantaa |
Finland |
Retail (Apparel) |
83.5 |
450 |
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Subsidiary |
Warsaw |
Poland |
Retail (Apparel) |
|
400 |
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Subsidiary |
Fredrikstad |
Norway |
Retail (Apparel) |
190.0 |
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Subsidiary |
Mariehamn |
Finland |
Retail (Apparel) |
3.0 |
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Executive report
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Board of
Directors |
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verkst dir, ledamot och ordförande |
Director/Board Member |
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Finance Manager |
Director/Board Member |
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Executives |
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verkst dir, ledamot och ordförande |
Managing Director |
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Administration Executive |
Administration Executive |
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Finance Manager |
Finance Executive |
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HR Executive |
Human Resources Executive |
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Sales Director |
Sales Executive |
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IT Executive |
Information Executive |
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Purchasing Executive |
Purchasing Executive |
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Annual Profit & Loss
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|
31-Aug-2011 |
31-Aug-2010 |
31-Aug-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
SEK |
SEK |
SEK |
|
Exchange Rate
(Period Average) |
6.540951 |
7.259367 |
7.812687 |
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Consolidated |
No |
No |
No |
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Total Revenue |
579.5 |
513.1 |
446.2 |
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Gross Profit |
51.8 |
74.8 |
62.5 |
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Net Financial Items |
1.6 |
0.6 |
8.0 |
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Operating Income |
34.0 |
56.6 |
45.0 |
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Income Before Tax |
31.5 |
52.6 |
44.7 |
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Net Income |
21.9 |
37.3 |
32.6 |
Annual Balance
Sheet
Financials in: USD (mil)
|
|
31-Aug-2011 |
31-Aug-2010 |
31-Aug-2009 |
|
Filed Currency |
SEK |
SEK |
SEK |
|
Exchange Rate |
6.32405 |
7.3703 |
7.1006 |
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Consolidated |
No |
No |
No |
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Total Assets |
236.2 |
195.9 |
226.4 |
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Provisions |
71.4 |
57.6 |
55.1 |
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Total Liabilities |
139.7 |
89.5 |
127.7 |
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Total Equity |
25.1 |
48.8 |
43.5 |
Annual Ratios
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|
31-Aug-2011 |
31-Aug-2010 |
31-Aug-2009 |
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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 |
No |
No |
No |
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Operating Margin |
6.45 |
11.65 |
12.23 |
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Current Ratio |
74.60 |
129.18 |
143.10 |
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Total debt/total equity |
32.40 |
46.07 |
36.75 |
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Return on average equity |
48.12 |
62.42 |
70.15 |
Annual Growth Rates
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|
31-Aug-2010 |
31-Aug-2009 |
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Period Length |
12 Months |
12 Months |
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Filed Currency |
- |
- |
|
Exchange Rate |
- |
- |
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Consolidated |
No |
No |
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Turnover Percent Change |
1.77% |
6.84% |
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Marginal Contribution Percent Change |
-37.57% |
11.29% |
|
Net Financial Items Percent Change |
130.43% |
-92.64% |
|
Operating Results Percent Change |
-45.87% |
16.71% |
|
Profit/Loss Before Tax Percent Change |
-46.07% |
9.42% |
|
Profit/Loss for the Year Percent Change |
-47.07% |
6.36% |
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Assets Percent Change |
3.44% |
-10.15% |
|
Provisions Percent Change |
6.33% |
8.51% |
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Debts Percent Change |
33.88% |
-27.24% |
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Equity Capital Percent Change |
-55.84% |
16.41% |
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Operating Margin Percent Change |
-44.64% |
-4.74% |
|
Current Ratio Percent Change |
-42.25% |
-9.73% |
|
Debt/Equity Ratio Percent Change |
-29.67% |
25.36% |
|
Return On Equity Percent Change |
-22.91% |
-11.02% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
UK Pound |
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.82 |
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 |
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.