MIRA
INFORM REPORT
|
Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
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Name : |
FINN-POWER OY |
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Registered Office : |
Metallitie 4 Kauhava, 62200 |
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Country : |
Finland |
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Financials (as on) : |
01.12.2011 |
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Date of Incorporation : |
12.05.2000 |
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Com. Reg. No.: |
16369339 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
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No. of Employees : |
336 |
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 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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 almost as high as 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 2010-11. The recession affected general government finances and the debt ratio,
turning previously strong budget surpluses into deficits, but Finland has taken
action to ensure it will meet EU deficit targets by 2013 and retains its
triple-A credit rating. Finland's main challenge in 2013 will be to stimulate
growth in the face of weak demand in EU export markets and government austerity
measures meant to reduce its budget deficit. Longer-term, Finland must address
a rapidly aging population and decreasing productivity that threaten
competitiveness, fiscal sustainability, and economic growth.
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Source
: CIA |
Company name and address
FINN-POWER OY
|
Metallitie 4 Kauhava, 62200 Finland
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Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
33281 -
Coating, Engraving, Heat Treating, and Allied Activities |
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UK SIC 2007: |
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US SIC 1987: |
3479 -
Coating, Engraving, and Allied Services, Not Elsewhere Classified |
Key Executives
|
Name |
Title |
|
Juha Tapani Mäkitalo |
Board member, Managing director |
|
Gianfranco Carbonato |
Chairman |
|
Ezio Giovanni Basso |
Board member |
|
Juhokalle Kujanpää |
Board member |
|
Massimo Ratti |
Board member |
News
|
Title |
Date |
|
Hydraulic Crimping Machines from
Powerco Crimping Australasia |
26-Jul-2013 |
|
GOING VERY LEAN WITH REMOTE CONTROL
NESTING |
8-Jul-2013 |
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WIPO PUBLISHES PATENT OF FINN-POWER
ITALIA FOR "MOVEMENT MECHANISM WITH INDEPENDENT MOTORS FOR THE BLADE HOLDER
UNIT OF A PANEL BENDER MACHINE"... |
28-Jun-2013 |
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Finn-Power CM75 and CM91 hose
cutting machines from Powerco Crimping Australasia |
6-Mar-2013 |
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Sheet Metal Fabrication Facility
Closure Calls for Auction of... |
12-Feb-2013 |
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Sheet Metal Fabrication Facility
Closure Calls for Auction of Fabrication Machinery and Equipment |
12-Feb-2013 |
Registered No.(FIN): 16369339
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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ANZSIC 2006 Codes: |
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2293 |
- |
Metal
Coating and Finishing |
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ISIC Rev 4 Codes: |
||
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2592 |
- |
Treatment
and coating of metals; machining |
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NACE Rev 2 Codes: |
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2561 |
- |
Treatment
and coating of metals |
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NAICS 2012 Codes: |
||
|
33281 |
- |
Coating,
Engraving, Heat Treating, and Allied Activities |
|
US SIC 1987: |
||
|
3479 |
- |
Coating,
Engraving, and Allied Services, Not Elsewhere Classified |
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UK SIC 2007: |
||
|
2561 |
- |
Treatment
and coating of metals |
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Company |
Percentage Owned |
Country |
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Prima Power France |
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France |
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Samat SRL |
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Italy |
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Finn-Power Italia SRL |
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Italy |
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Prima Power North America, INC. |
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USA |
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Balaxman Oy |
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Finland |
Corporate
Family
Corporate Structure News:
Total Corporate Family Members: 26
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Collegno |
Italy |
Machinery and Equipment Manufacturing |
455.5 |
1,521 |
|
|
Subsidiary |
Kauhava |
Finland |
Metal Products Manufacturing |
144.3 |
336 |
|
|
Subsidiary |
St Pierre Du Perray |
France |
Machinery Wholesale |
14.6 |
34 |
|
|
Subsidiary |
Kauhava |
Finland |
Machinery and Equipment Manufacturing |
143.2 |
336 |
|
|
Subsidiary |
Cologna Veneta, Verona |
Italy |
Medical Equipment and Supplies |
59.6 |
194 |
|
|
Subsidiary |
Nazareth |
Belgium |
Machinery Wholesale |
14.3 |
15 |
|
|
Subsidiary |
Schaumburg, IL |
United States |
Machinery Wholesale |
26.6 |
9 |
|
|
Subsidiary |
Moncalieri |
Italy |
Electronics Wholesale |
53.5 |
192 |
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Miscellaneous Repair and Maintenance |
1.2 |
6 |
|
|
Subsidiary |
Chicopee, MA |
United States |
Specialty Construction Trade Contractors |
262.6 |
90 |
|
|
Division |
Champlin, MN |
United States |
Machinery and Equipment Manufacturing |
11.6 |
30 |
|
|
Subsidiary |
Dietzenbach, Hessen |
Germany |
Machinery and Equipment Manufacturing |
34.3 |
50 |
|
|
Subsidiary |
Rubi, Barcelona |
Spain |
Machinery and Equipment Manufacturing |
13.7 |
39 |
|
|
Subsidiary |
Moscow |
Russian Federation |
Machinery and Equipment Manufacturing |
|
20 |
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|
Subsidiary |
Dietzenbach |
Germany |
Electronics Wholesale |
|
20 |
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|
Subsidiary |
Saint-Pierre-du-Perray |
France |
Machinery Wholesale |
|
20 |
|
|
Subsidiary |
Coventry |
United Kingdom |
Miscellaneous Repair and Maintenance |
9.3 |
15 |
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Subsidiary |
Toronto, ON |
Canada |
Medical Equipment and Supplies |
8.7 |
12 |
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Subsidiary |
Chicopee, MA |
United States |
Electrical Equipment and Appliances Manufacturing |
1.9 |
8 |
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Subsidiary |
Warwick |
United Kingdom |
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Subsidiary |
Sharjah |
United Arab Emirates |
Machinery and Equipment Manufacturing |
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Subsidiary |
Jihlava |
Czech Republic |
Machinery and Equipment Manufacturing |
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Subsidiary |
Beijing |
China |
Medical Equipment and Supplies |
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Subsidiary |
Novosibirsk |
Russian Federation |
Medical Equipment and Supplies |
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Subsidiary |
Beijing |
China |
Machinery and Equipment Manufacturing |
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Subsidiary |
Gothenburg |
Sweden |
Machinery Wholesale |
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Executives Report
Board of Directors
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Chairman |
Chairman |
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Board member |
Director/Board Member |
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Board member |
Director/Board Member |
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Board member, Managing director |
Director/Board Member |
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Board member |
Director/Board Member |
Executives
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|||
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Board member, Managing director |
Managing Director |
News
Annual
Profit & Loss
|
|
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 |
|
Consolidated |
No |
No |
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|
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Total income |
144.3 |
110.9 |
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Cost of goods sold |
99.0 |
66.3 |
|
Other operating costs |
18.5 |
14.4 |
|
Total operating costs |
140.8 |
95.5 |
|
Interest received from loans |
2.1 |
0.3 |
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Interest payable on loans |
1.6 |
0.0 |
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Profit before tax |
-0.4 |
-5.6 |
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Total taxation |
0.1 |
0.1 |
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Income before depreciation |
8.8 |
4.7 |
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Depreciation |
7.7 |
7.8 |
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Profit before financial items |
1.1 |
-3.1 |
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Other financial expenses |
2.1 |
2.7 |
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Income/profit after financial items |
-0.4 |
-5.6 |
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Income before allocations |
-0.4 |
-5.6 |
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Net income |
-0.4 |
-5.7 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
01-Dec-2011 |
01-Dec-2010 |
|
Filed Currency |
EUR |
EUR |
|
Exchange Rate |
0.74239 |
0.765521 |
|
Consolidated |
No |
No |
|
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|
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Issued capital |
31.5 |
30.6 |
|
Non restricted equity |
-166.2 |
-160.7 |
|
Total stockholders equity |
24.9 |
24.5 |
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Total long-term liabilities |
89.8 |
87.0 |
|
Trade creditors |
44.9 |
28.7 |
|
Other current liabilities |
34.9 |
27.7 |
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Total current liabilities |
170.6 |
144.2 |
|
Land and buildings |
- |
0.0 |
|
Machinery and tools |
0.6 |
0.5 |
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Depreciable assets |
63.2 |
66.4 |
|
Total non-current assets |
89.4 |
87.4 |
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Stocks |
27.1 |
23.8 |
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Trade debtors |
24.9 |
16.4 |
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Cash and liquid assets |
53.9 |
40.6 |
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Short-term investments |
26.2 |
21.0 |
|
Shares in associated companies |
26.2 |
21.0 |
|
Other current assets |
0.1 |
0.5 |
|
Total current assets |
106.1 |
81.4 |
|
Total assets |
195.5 |
168.7 |
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 |
|
|
|
|
|
Current ratio |
1.30 |
1.40 |
|
Quick ratio |
1.20 |
1.30 |
|
Asset turnover |
0.01% |
0.01% |
|
Profit margin |
0.00% |
0.05% |
|
Equity ratio |
0.14% |
0.16% |
|
Interest on liabilities |
0.11% |
- |
|
Risk margin |
184.52% |
187.66% |
|
Interest cover |
0.01% |
0.06% |
|
Net worth |
24.9 |
24.5 |
|
Number of employees |
336 |
358 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.83 |
|
|
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.