MIRA INFORM REPORT

 

 

Report Date :

13.06.2013

 

IDENTIFICATION DETAILS

 

Name :

LK VALVES AB 

 

 

Registered Office :

Garnisonsgatan 19, Helsingborg, 25466

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishments:

2002

 

 

Com. Reg. No.:

5566230933

 

 

Legal Form :

Private Subsidiary Company  

 

 

Line of Business :

manufacturer of metal valves (except industrial valves, fluid power valves, fluid power hose fittings, and plumbing fixture fittings and trim)

 

 

No. of Employees :

20

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate  

 

 

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 – March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Sweden

A2

a2

 

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 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, 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

 

Company name & address

 

LK Valves AB

Garnisonsgatan 19

Helsingborg, 25466

Sweden

 

Tel:       +46 42 38 38 70

Fax:      +46 42 38 38 75

 

Web     www.lkvalves.com

           

 

Synthesis

 

Employees:                  20

Company Type:            Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:            LK Valves AS

Incorporation Date:         2002   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       Swedish Krona

Annual Sales:               9.6

Net Income:                  0.0

Total Assets:                10.3

 

 

Business Description     

 

LK Valves AB is primarily engaged in manufacturing metal valves (except industrial valves, fluid power valves, fluid power hose fittings, and plumbing fixture fittings and trim).

 

Industry             

Industry            Miscellaneous Fabricated Products

ANZSIC 2006:    2299 - Other Fabricated Metal Product Manufacturing Not Elsewhere Classified

NACE 2002:      2913 - Manufacture of taps and valves

NAICS 2002:     332919 - Other Metal Valve and Pipe Fitting Manufacturing

UK SIC 2003:    2913 - Manufacture of taps and valves

UK SIC 2007:    2814 - Manufacture of other taps and valves

US SIC 1987:    349 - Miscellaneous Fabricated Metal Products

 

           


Key Executives   

 

 

Name

Title

Jan Andersson

verkst dir, Sales Director

Fredrik Erlandsson

Teknisk chef, Technical Manager

Johan Deger

Production Director, Technical Manager

Erik Albrecht Behm

ledamot

Ulrika Kristina Behm

ledamot

 

1 - Profit & Loss Item Exchange Rate: USD 1 = SEK 6.49369

2 - Balance Sheet Item Exchange Rate: USD 1 = SEK 6.8553

 

 

Corporate Overview

 

Location

Garnisonsgatan 19

Helsingborg, 25466

Sweden

Tel:       +46 42 38 38 70

Fax:      +46 42 38 38 75

Web:    www.lkvalves.com

           

Sales SEK(mil):             62.1

Assets SEK(mil):           70.3

Employees:                   20

Fiscal Year End:            31-Dec-2011

Industry:                        Miscellaneous Fabricated Products

Incorporation Date:         2002

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(SWE):    5566230933

verkst dir, Sales Director: Jan Andersson

 

Industry Codes

 

ANZSIC 2006 Codes:

2299     -          Other Fabricated Metal Product Manufacturing Not Elsewhere Classified

 

NACE 2002 Codes:

2913     -          Manufacture of taps and valves

 

NAICS 2002 Codes:

332919  -          Other Metal Valve and Pipe Fitting Manufacturing

332913  -          Plumbing Fixture Fitting and Trim Manufacturing

33291   -          Metal Valve Manufacturing

332911  -          Industrial Valve Manufacturing

332912  -          Fluid Power Valve and Hose Fitting Manufacturing

 

US SIC 1987:

349       -          Miscellaneous Fabricated Metal Products

3492     -          Fluid Power Valves and Hose Fittings

3491     -          Industrial Valves

3432     -          Plumbing Fixture Fittings and Trim

 

UK SIC 2003:

2913     -          Manufacture of taps and valves

 

UK SIC 2007:

2814     -          Manufacture of other taps and valves

 

Business Description

LK Valves AB is primarily engaged in manufacturing metal valves (except industrial valves, fluid power valves, fluid power hose fittings, and plumbing fixture fittings and trim).

 

 

Financial Data

Financials in:

SEK(mil)

 

Revenue:

62.1

Net Income:

0.0

Assets:

70.3

Total Liabilities:

67.4

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

NA

NA

NA

Key Corporate Relationships

Bank:

Nordea

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

LK Valves AB

LK Valves AB 
Total Corporate Family Members: 2 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

LK Valves AS

Parent

 

 

 

 

 

 

LK Valves AB

Subsidiary

Helsingborg, SkĂ¥ne

Sweden

Miscellaneous Fabricated Products

9.6

20

 

 

executive report

 

Board of Directors

 

Name

Title

Function

 

Erik Albrecht Behm

 

ledamot

Director/Board Member

 

Ulrika Kristina Behm

 

ledamot

Director/Board Member

 

Roar Stein Böe

 

ledamot och ordförande

Director/Board Member

 

Hans Anders Johansson

 

ledamot

Director/Board Member

 

Stig Lennart Karlsson

 

ledamot

Director/Board Member

 

Dan Ingvar Paradell

 

ledamot

Director/Board Member

 

 

 

 

Executives

 

Name

Title

Function

 

Jan Andersson

 

verkst dir, Sales Director

Managing Director

 

Fredrik Erlandsson

 

Teknisk chef, Technical Manager

Sales Executive

 

Johan Deger

 

Production Director, Technical Manager

Engineering/Technical Executive

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2011

30-Apr-2011

30-Apr-2010

Period Length

8 Months

12 Months

12 Months

Filed Currency

SEK

SEK

SEK

Exchange Rate (Period Average)

6.493691

6.951211

7.267825

Consolidated

No

No

No

 

 

 

 

Total Revenue

9.6

9.1

13.0

Gross Profit

0.3

-0.8

1.4

Net Financial Items

-0.1

0.0

-0.3

Operating Income

0.3

-0.9

1.3

Income Before Tax

0.0

0.1

0.0

Net Income

0.0

0.1

0.0

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

30-Apr-2011

30-Apr-2010

Filed Currency

SEK

SEK

SEK

Exchange Rate

6.8553

6.0274

7.2486

Consolidated

No

No

No

 

 

 

 

Total Assets

10.3

7.0

5.5

Provisions

0.0

0.0

0.0

Total Liabilities

9.8

6.5

5.2

Total Equity

0.4

0.5

0.3

 

 

 

Annual Ratios

 

 

 

 

31-Dec-2011

30-Apr-2011

30-Apr-2010

Period Length

8 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Operating Margin

3.32

-8.83

9.90

Current Ratio

560.68

425.31

422.19

Total debt/total equity

4.11

6.91

5.94

Return on average equity

60.26

-215.77

292.63

 

 

Annual Growth Rates

 

 

 

 

30-Apr-2011

30-Apr-2010

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Turnover Percent Change

-1.50%

-33.40%

Marginal Contribution Percent Change

137.15%

-157.48%

Net Financial Items Percent Change

-7,945.45%

99.55%

Operating Results Percent Change

132.47%

-167.33%

Profit/Loss Before Tax Percent Change

-96.60%

2,844.00%

Profit/Loss for the Year Percent Change

-98.63%

12,100.00%

Assets Percent Change

66.25%

6.15%

Provisions Percent Change

-56.90%

-67.60%

Debts Percent Change

71.37%

5.25%

Equity Capital Percent Change

0.35%

34.74%

Operating Margin Percent Change

137.60%

-189.19%

Current Ratio Percent Change

31.83%

0.74%

Debt/Equity Ratio Percent Change

-40.52%

16.33%

Return On Equity Percent Change

127.93%

-173.73%

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.58.27

UK Pound

1

Rs.91.16

Euro

1

Rs.77.50

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.