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Report Date : |
16.01.2013 |
IDENTIFICATION DETAILS
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Name : |
FERROMET FERROUS
RAW MATERIALS TRADING AB |
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Registered Office : |
Engelbrektsgatan
31 Stockholm, 10216 |
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Country : |
Sweden |
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Financials (as on) : |
31.12.2011 |
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Year of Incorporation : |
1994 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of metals and ores |
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No. of Employees : |
5 |
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 : |
Slow |
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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) |
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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.
Source
: CIA
Ferromet Ferrous Raw Materials Trading AB
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Business Description
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Ferromet Ferrous Raw Materials Trading AB
is primarily engaged in the merchant wholesale distribution of coal, coke,
metal ores, and/or nonmetallic minerals (except precious and semiprecious stones
and minerals used in construction, such as sand and gravel). |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
423520 - Coal and Other Mineral and Ore Merchant
Wholesalers |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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1 - Profit & Loss Item Exchange Rate: USD 1 = SEK 6.49369
2 - Balance Sheet Item Exchange Rate: USD 1 = SEK 6.8553
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Executives Report
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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) |
6.493691 |
7.206564 |
7.645194 |
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Consolidated |
Yes |
Yes |
Yes |
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Total Revenue |
80.1 |
110.4 |
74.6 |
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Gross Profit |
-2.5 |
-0.7 |
0.0 |
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Net Financial Items |
-0.3 |
-0.2 |
-0.3 |
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Operating Income |
-2.9 |
-1.0 |
-0.2 |
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Income Before Tax |
-3.2 |
-1.3 |
-0.5 |
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Net Income |
-3.1 |
-1.3 |
-0.6 |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
SEK |
SEK |
SEK |
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Exchange Rate |
6.8553 |
6.72285 |
7.1401 |
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Consolidated |
Yes |
Yes |
Yes |
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Total Assets |
4.3 |
14.8 |
10.1 |
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Total Liabilities |
7.3 |
14.8 |
8.7 |
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Total Equity |
-2.9 |
-0.1 |
1.4 |
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Annual Ratios |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-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 |
Yes |
Yes |
Yes |
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Operating Margin |
-3.57 |
-0.81 |
-0.24 |
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Current Ratio |
32.67 |
85.91 |
99.49 |
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Total debt/total equity |
-67.85 |
-0.42 |
13.81 |
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Return on average equity |
-102.40 |
-2,210.19 |
-37.82 |
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Annual Growth Rates |
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31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
|
Filed Currency |
- |
- |
|
Exchange Rate |
- |
- |
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Consolidated |
Yes |
Yes |
|
|
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Turnover Percent Change |
-34.62% |
39.46% |
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Marginal Contribution Percent Change |
-212.12% |
-28,600.00% |
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Net Financial Items Percent Change |
-25.08% |
32.30% |
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Operating Results Percent Change |
-149.23% |
-445.33% |
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Profit/Loss Before Tax Percent Change |
-126.95% |
-140.58% |
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Profit/Loss for the Year Percent Change |
-119.53% |
-114.31% |
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Assets Percent Change |
-70.01% |
36.88% |
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Debts Percent Change |
-49.87% |
59.47% |
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Equity Capital Percent Change |
-4,798.06% |
-104.12% |
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Operating Margin Percent Change |
-340.74% |
-237.50% |
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Current Ratio Percent Change |
-61.97% |
-13.65% |
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Debt/Equity Ratio Percent Change |
-16,054.76% |
-103.04% |
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Retun On Equity Percent Change |
95.37% |
-5,743.97% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
|
1 |
Rs.87.69 |
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Euro |
1 |
Rs.72.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
|
<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.