MIRA
INFORM REPORT
|
Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
INEOS SVERIGE AB |
|
|
|
|
Registered Office : |
44483 Stenungsund |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
01.03.1929 |
|
|
|
|
Com. Reg. No.: |
5560276635 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of plastics in primary forms |
|
|
|
|
No. of Employees : |
333 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Sweden |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 the contraction continued 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, but growth slipped to 1.2% in 2012. The government proposed stimulus measures in 2012 to curb the effects of a global economic slowdown and boost employment and growth.
Source : CIA
REGISTERED NAME & COMPANY
SUMMARY
Company Summary
|
Business Name |
INEOS Sverige AB |
|
Country |
SWEDEN |
|
Company Registration Number |
5560276635 |
|
Main Activity |
Manufacture of plastics
in primary forms |
|
Activity Code |
20160 |
|
Company Status |
Active |
|
Latest Turnover Figure |
2.245.918.000 |
|
Latest Shareholder Equity Figure |
117.074.000 |
|
Basic Information |
|
|
Business Name |
INEOS Sverige AB |
|
Registered Company Name |
INEOS Sverige
AB |
|
Company Registration Number |
5560276635 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556027663501 |
|
Date of Company Registration |
01/03/1929 |
|
Legal Form |
Limited
liability company |
|
Company Status |
Active |
|
Currency of this Report |
SEK |
|
Principal Activity Description |
Bolaget skall
tillverka och försälja företrädesvis kemiska produkter samt att förvalta fast
och lös egendom ävensom att idka annan därmed förenlig verksamhet. (The company
will manufacture and sell preferably chemical products and to manage movable
and immovable property as well as to conduct other related business.) |
|
Contact Address |
, 44483
STENUNGSUND |
|
Contact Telephone Number |
0303-87500 |
|
Activities |
||||
|
Activity Code |
Activity Description |
|||
|
20160 |
Manufacture of
plastics in primary forms |
|||
|
20130 |
Manufacture of
other inorganic basic chemicals |
|||
|
20140 |
Manufacture of
other organic basic chemicals |
|||
|
Main Address |
||||
|
Address |
Country |
Telephone |
||
|
, 44483
STENUNGSUND |
SWEDEN |
0303-87500 |
||
|
Other Address |
||||
|
Address |
Country |
|||
|
No other
addresses for this company. |
|
|||
|
Email Addresses |
||||
|
Web Pages |
||||
|
No information
for this company. |
||||
DIRECTORS/MANAGEMENT
|
Current Directors |
||||||
|
Name |
Appointment Date |
Position |
|
|||
|
Lars Wilhelm
Josefsson |
27/11/2009 |
Chairman of
Board |
|
|||
|
Decadt,
Ghislain Georges Jose |
04/01/2011 |
Actual Member
of Board |
|
|||
|
Maher, Michael
John |
19/10/2011 |
Actual Member
of Board |
|
|||
|
Metcalfe, Keith |
15/02/2012 |
Actual Member
of Board |
|
|||
|
Tuft, Geir |
26/06/2007 |
Actual Member
of Board |
|
|||
|
Bert Bohlin |
11/07/2001 |
Actual Member
of Board |
|
|||
|
Reine Lennart
Johansson |
08/07/2009 |
Actual Member
of Board |
|
|||
|
Claes Algot
Valter Fossum |
17/08/2004 |
Employee
Representative |
|
|||
|
Mats Erik
Andersson |
06/11/2013 |
Substitute |
|
|||
|
Previous Directors |
||||||
|
Name |
Appointment Date |
Position |
Resignation Date |
|||
|
Lena Karlsson |
26/05/2004 |
Substitute |
|
|||
|
Tane, Christopher
Edward |
10/03/2008 |
Actual Member
of Board |
|
|||
|
Tore Karl Erik
Claesson |
26/06/1996 |
Actual Member
of Board |
|
|||
|
Stangeby, Trond |
08/09/2006 |
Chairman of
Board |
|
|||
|
Schnurr, Otto |
10/03/2008 |
Actual Member
of Board |
|
|||
|
Jenssen, Bjarne
Erik Herbert |
27/11/2009 |
Actual Member
of Board |
|
|||
|
Lars Wilhelm
Josefsson |
19/11/2001 |
Managing
Director |
|
|||
|
Leif Christer
Jannesson |
|
Actual Member
of Board |
|
|||
NEGATIVE INFORMATION
No negative information
found.
SHARE & SHARE CAPITAL
INFORMATION
|
Issued Share Capital |
50.000.000 |
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 |
1 |
|
Number of applications for an order to pay |
- |
|
Number of reclaimed/revoked applications |
- |
|
Latest Private Claim |
|
|
Date |
30/07/2012 |
|
Amount |
160 SEK |
|
Creditor |
ISS Facility
Services AB |
|
Comments |
Decision |
GROUP STRUCTURE & AFFILIATED
COMPANIES
|
Extended Group Structure |
||||
|
Company Name |
Country |
Number |
Latest Annual Accounts |
|
|
|
NO |
989145673 |
31/12/2012 |
|
|
|
SE |
5560276635 |
31/12/2012 |
|
|
|
SE |
5560449091 |
31/12/2012 |
|
0Ineos Norge Holdings AsFINANCIAL INFORMATION
|
Profit and Loss |
||||||||||||
|
Financial Year |
2012 |
2011 |
2010 |
|||||||||
|
Number of Weeks |
52 |
52 |
52 |
|||||||||
|
Currency |
SEK |
SEK |
SEK |
|||||||||
|
Conslotidated Accounts |
N |
N |
N |
|||||||||
|
Revenue |
2.245.918.000 |
2.192.569.000 |
2.135.334.000 |
|||||||||
|
Operating Costs |
2.212.567.000 |
2.135.472.000 |
2.104.140.000 |
|||||||||
|
Operating Profit |
33.351.000 |
57.097.000 |
31.194.000 |
|||||||||
|
Wages & Salaries |
- |
- |
- |
|||||||||
|
Depreciation |
- |
- |
- |
|||||||||
|
Financial Income |
3.296.000 |
6.767.000 |
21.458.000 |
|||||||||
|
Financial Expenses |
-23.502.000 |
-13.093.000 |
-58.042.000 |
|||||||||
|
Extraordinary Income |
- |
- |
- |
|||||||||
|
Extraordinary Costs |
-23.502.000 |
-13.093.000 |
-58.042.000 |
|||||||||
|
Profit before Tax |
13.145.000 |
50.771.000 |
-5.389.000 |
|||||||||
|
Tax |
-5.732.000 |
-16.154.000 |
-5.841.000 |
|||||||||
|
Profit after Tax |
13.145.000 |
50.771.000 |
-5.389.000 |
|||||||||
|
Minority Interests |
- |
- |
- |
|||||||||
|
Other Appropriations |
9.726.000 |
4.652.000 |
21.088.000 |
|||||||||
|
Retained Profit |
17.140.000 |
39.269.000 |
9.858.000 |
|||||||||
|
Balance Sheet |
||||||||||||
|
Financial Year |
2012 |
2011 |
2010 |
|||||||||
|
Number of Weeks |
52 |
52 |
52 |
|||||||||
|
Currency |
SEK |
SEK |
SEK |
|||||||||
|
Consolidated Accounts |
N |
N |
N |
|||||||||
|
Land & Buildings |
40.557.000 |
44.945.000 |
53.931.000 |
|||||||||
|
Plant & Machinery |
197.901.000 |
209.463.000 |
238.033.000 |
|||||||||
|
Other Tangible Assets |
12.979.000 |
15.587.000 |
19.544.000 |
|||||||||
|
Total Tangible Assets |
251.437.000 |
269.995.000 |
311.508.000 |
|||||||||
|
Goodwill |
0 |
0 |
0 |
|||||||||
|
Other Intangible Assets |
6.291.000 |
6.471.000 |
6.522.000 |
|||||||||
|
Total Intangible Assets |
6.291.000 |
6.471.000 |
6.522.000 |
|||||||||
|
Loans To Group |
0 |
0 |
0 |
|||||||||
|
Other Loans |
0 |
0 |
0 |
|||||||||
|
Miscellaneous Fixed Assets |
506.000 |
486.000 |
486.000 |
|||||||||
|
Total Other Fixed Assets |
506.000 |
486.000 |
486.000 |
|||||||||
|
TOTAL FIXED ASSETS |
258.234.000 |
276.952.000 |
318.516.000 |
|||||||||
|
Work In Progress |
0 |
0 |
0 |
|||||||||
|
Other Inventories |
175.407.000 |
158.703.000 |
124.056.000 |
|||||||||
|
Total Inventories |
175.407.000 |
158.703.000 |
124.056.000 |
|||||||||
|
Trade Receivables |
82.856.000 |
74.322.000 |
82.901.000 |
|||||||||
|
Group Receivables |
361.574.000 |
367.491.000 |
303.902.000 |
|||||||||
|
Miscellaneous Receivables |
14.650.000 |
14.557.000 |
34.353.000 |
|||||||||
|
Total Receivables |
459.080.000 |
456.370.000 |
421.156.000 |
|||||||||
|
Cash |
15.763.000 |
30.610.000 |
15.740.000 |
|||||||||
|
Other Current Assets |
0 |
0 |
0 |
|||||||||
|
TOTAL CURRENT ASSETS |
650.250.000 |
645.684.000 |
560.952.000 |
|||||||||
|
TOTAL ASSETS |
908.484.000 |
922.636.000 |
879.468.000 |
|||||||||
|
Trade Payables |
180.618.000 |
118.477.000 |
101.237.000 |
|||||||||
|
Bank Liabilities |
0 |
0 |
0 |
|||||||||
|
Group Payables |
53.333.000 |
71.187.000 |
82.458.000 |
|||||||||
|
Miscellaneous Liabilities |
104.977.000 |
74.911.000 |
70.179.000 |
|||||||||
|
TOTAL CURRENT LIABILITIES |
338.928.000 |
264.575.000 |
253.874.000 |
|||||||||
|
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 |
452.482.000 |
458.127.000 |
464.929.000 |
|||||||||
|
TOTAL LONG TERM LIABILITIES |
452.482.000 |
458.127.000 |
464.929.000 |
|||||||||
|
TOTAL LIABILITIES |
791.410.000 |
722.702.000 |
718.803.000 |
|||||||||
|
Called Up Share Capital |
50.000.000 |
50.000.000 |
50.000.000 |
|||||||||
|
Share Premium |
0 |
0 |
0 |
|||||||||
|
Revenue Reserves |
57.074.000 |
139.934.000 |
100.665.000 |
|||||||||
|
Other Reserves |
10.000.000 |
10.000.000 |
10.000.000 |
|||||||||
|
TOTAL SHAREHOLDERS EQUITY |
117.074.000 |
199.934.000 |
160.665.000 |
|||||||||
|
Other Financials |
||||||||||||
|
Contingent Liabilities |
118.215.000 |
89.271.000 |
116.013.000 |
|||||||||
|
Working Capital |
311.322.000 |
381.109.000 |
307.078.000 |
|||||||||
|
Net Worth |
110.783.000 |
193.463.000 |
154.143.000 |
|||||||||
|
Ratios |
||||||||||||
|
Pre-Tax Profit Margin |
0.59 % |
2.32 % |
-0.25 % |
|||||||||
|
Return On Capital Employed |
1.05 % |
4.28 % |
-0.48 % |
|||||||||
|
Return On Total Assets Employed |
1.45 % |
5.50 % |
-0.61 % |
|||||||||
|
Return On Net Assets Employed |
11.23 % |
25.39 % |
-3.35 % |
|||||||||
|
Sales/Net Working Capital |
7.21 |
5.75 |
6.95 |
|||||||||
|
Stock Turnover Ratio |
7.81 % |
7.24 % |
5.81 % |
|||||||||
|
Debtor Days |
13.47 |
12.37 |
14.17 |
|||||||||
|
Creditor Days |
29.35 |
19.72 |
17.30 |
|||||||||
|
Current Ratio |
1.92 |
2.44 |
2.21 |
|||||||||
|
Liquidity Ratio/Acid Test |
1.40 |
1.84 |
1.72 |
|||||||||
|
Current Debt Ratio |
2.89 |
1.32 |
1.58 |
|||||||||
|
Gearing |
|
|
|
|||||||||
|
Equity In Percentage |
12.98 % |
21.83 % |
18.42 % |
|||||||||
|
Total Debt Ratio |
6.76 |
3.61 |
4.47 |
|||||||||
ADDITIONAL INFORMATION
|
Employee Information |
|
|
Year |
Number of Employees |
|
2012 |
333 |
|
2011 |
329 |
|
2010 |
332 |
|
2009 |
334 |
|
2008 |
361 |
|
Advisors |
|
|
Auditor Name |
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 |
20160 |
|
Activity Description |
Manufacture of
plastics in primary forms |
|
Event History |
|
|
Event Date |
Event Description |
|
07/11/2013 |
Authorised
signatories amended or new/amended vacancy text |
|
07/11/2013 |
Company
representatives, changed |
|
22/10/2013 |
Status, changed |
|
22/10/2013 |
Board, changed |
|
22/10/2013 |
Authorised
signatories amended or new/amended vacancy text |
|
26/09/2013 |
Group Structure
Change |
|
16/09/2013 |
Annual account,
new |
|
29/08/2013 |
Group Structure
Change |
|
16/08/2013 |
Annual report
(PDF), new |
|
15/08/2013 |
Status, changed |
|
02/10/2012 |
Certificate,
registered |
|
07/08/2012 |
Certificate,
registered |
|
06/08/2012 |
Annual account,
new |
|
05/07/2012 |
Annual report
(PDF), new |
|
03/07/2012 |
Certificate,
deregistered |
|
16/02/2012 |
Board, changed |
|
16/02/2012 |
Company
representatives, changed |
|
16/02/2012 |
Authorised
signatories amended or new/amended vacancy text |
|
20/10/2011 |
Company representatives,
changed |
|
20/10/2011 |
Authorised
signatories amended or new/amended vacancy text |
|
20/10/2011 |
Board, changed |
|
25/08/2011 |
Annual account,
new |
|
23/08/2011 |
Annual report
(PDF), new |
|
01/08/2011 |
Board, changed |
|
01/08/2011 |
Company
representatives, changed |
|
01/08/2011 |
Authorised
signatories amended or new/amended vacancy text |
|
05/07/2011 |
Certificate,
deregistered |
|
29/03/2011 |
Phone number,
new |
|
29/03/2011 |
Fax number, new |
|
14/01/2011 |
Authorised signatories
amended or new/amended vacancy text |
|
14/01/2011 |
Company
representatives, changed |
|
14/01/2011 |
Board, changed |
|
05/01/2011 |
Board, changed |
|
05/01/2011 |
Authorised
signatories amended or new/amended vacancy text |
|
05/01/2011 |
Company
representatives, changed |
|
25/08/2010 |
Annual account,
new |
|
17/08/2010 |
Annual report
(PDF), new |
|
29/01/2010 |
Annual account,
new |
|
18/01/2010 |
Annual report
(PDF), new |
|
12/01/2010 |
Company
representatives, changed |
|
12/01/2010 |
Board, changed |
|
12/01/2010 |
Authorised
signatory, changed |
|
11/12/2009 |
Board, changed |
|
11/12/2009 |
Authorised
signatory, changed |
|
11/12/2009 |
Company
representatives, changed |
|
28/11/2009 |
Authorised
signatory, changed |
|
28/11/2009 |
Company
representatives, changed |
|
28/11/2009 |
Board, changed |
|
17/11/2009 |
Annual account,
new |
|
03/11/2009 |
Annual report
(PDF), new |
|
09/07/2009 |
Board, changed |
|
09/07/2009 |
Company
representatives, changed |
|
09/07/2009 |
Authorised signatory,
changed |
|
08/12/2008 |
Company
representatives, changed |
|
08/12/2008 |
Board, changed |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
UK Pound |
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.