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Report Date : |
13.02.2013 |
IDENTIFICATION DETAILS
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Name : |
NORMET OY |
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Registered Office : |
Ahmolantie 6
Iisalmi, 74510 |
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Country : |
Finland |
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Financials (as on) : |
01.12.2011 |
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Date of Incorporation : |
1999 |
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Com. Reg. No.: |
15142001 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Manufacture of machinery for mining, quarrying and construction |
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No. of Employees : |
304 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Slow but 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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Finland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
Normet Oy
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Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
2952 - Manufacture of machinery for mining,
quarrying and construction |
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NAICS 2002: |
3331 - Agriculture, Construction, and Mining
Machinery Manufacturing |
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UK SIC 2003: |
2952 - Manufacture of machinery for mining,
quarrying and construction |
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UK SIC 2007: |
2892 - Manufacture of machinery for mining,
quarrying and construction |
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US SIC 1987: |
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
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Normet Oy |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Normet Group Oy |
Parent |
|
|
|
|
|
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Subsidiary |
Iisalmi |
Finland |
Construction and Agriculture Machinery |
135.5 |
304 |
|
|
Subsidiary |
Iisalmi |
Finland |
Miscellaneous Fabricated Products |
13.7 |
39 |
Executives Report
|
|
|
01-Dec-2011 |
01-Dec-2010 |
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Period Length |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.718922 |
0.749339 |
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Consolidated |
No |
No |
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|
|
|
|
Total income |
135.5 |
106.7 |
|
Cost of goods sold |
82.9 |
64.7 |
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Other operating costs |
17.4 |
19.3 |
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Total operating costs |
124.4 |
104.1 |
|
Interest received from loans |
2.9 |
4.1 |
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Profit before tax |
0.5 |
0.6 |
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Total taxation |
0.0 |
0.2 |
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Income before depreciation |
19.3 |
9.2 |
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Depreciation |
1.5 |
1.3 |
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Profit before financial items |
17.8 |
7.9 |
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Other financial expenses |
4.6 |
4.0 |
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Income/profit after financial items |
16.1 |
8.1 |
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Extraordinary items |
15.6 |
7.5 |
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Income before allocations |
0.0 |
0.0 |
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Net income |
0.2 |
0.1 |
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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 |
|
Exchange Rate |
0.74239 |
0.765521 |
|
Consolidated |
No |
No |
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|
|
|
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Issued capital |
1.4 |
1.4 |
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Untaxed/reserves allocations |
4.4 |
4.0 |
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Non restricted equity |
1.7 |
1.4 |
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Total stockholders equity |
5.4 |
5.0 |
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Total long-term liabilities |
47.8 |
37.9 |
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Trade creditors |
17.9 |
17.9 |
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Other current liabilities |
40.7 |
32.9 |
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Total current liabilities |
106.5 |
88.6 |
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Depreciable assets |
14.4 |
14.2 |
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Total non-current assets |
18.0 |
17.7 |
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Cash and liquid assets |
70.4 |
56.8 |
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Short-term investments |
3.6 |
3.5 |
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Other current assets |
27.9 |
23.2 |
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Total current assets |
98.3 |
80.0 |
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Total assets |
116.2 |
97.7 |
|
|
|
Annual Ratios |
|
Financials in: USD (mil) |
|
|
01-Dec-2011 |
01-Dec-2010 |
|
Period Length |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
|
Exchange Rate |
0.74239 |
0.765521 |
|
Consolidated |
No |
No |
|
|
|
|
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Current ratio |
1.70 |
1.60 |
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Quick ratio |
1.30 |
1.20 |
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Asset turnover |
0.01% |
0.01% |
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Profit margin |
0.12% |
0.08% |
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Equity ratio |
0.08% |
0.08% |
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Interest on liabilities |
0.08% |
- |
|
Risk margin |
72.64% |
69.08% |
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Net worth |
5.4 |
5.0 |
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Number of employees |
304 |
271 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.96 |
|
|
1 |
Rs.84.49 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.