|
Report Date : |
18.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GREIF FLEXIBLES SWEDEN AB |
|
|
|
|
Registered Office : |
Box 3021, 25003 Helsingborg |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
22.12.2003 |
|
|
|
|
Com. Reg. No.: |
5566531199 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Wholesale of packaging
materials |
|
|
|
|
No. of Employees : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
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 – June 30th,
2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 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 |
|
Business Name |
GREIF FLEXIBLES SWEDEN AB |
|
Country |
SWEDEN |
|
Company Registration Number |
5566531199 |
|
Main Activity |
Wholesale of packaging
materials |
|
Activity Code |
46762 |
|
Company Status |
Active |
|
Latest Turnover Figure |
63.738.000 SEK |
|
Latest Shareholder Equity
Figure |
2.669.000 SEK |
Basic Information
|
|
|
Business Name |
GREIF FLEXIBLES SWEDEN AB |
|
Registered Company Name |
GREIF FLEXIBLES SWEDEN AB |
|
Company Registration Number |
5566531199 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556653119901 |
|
Date of Company Registration |
22/12/2003 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active |
|
Currency of this Report |
SEK |
|
Principal Activity Description |
Bolaget
skall bedriva utveckling och försäljning av storsäckar, småsäckar och vävda
produkter till industrin samt utöva därmed förenlig verksamhet. |
|
Contact Address |
Box 3021, 25003 HELSINGBORG |
|
Contact Telephone Number |
042-137850 |
Main Address
|
||
|
Address |
Country |
Telephone |
|
Box 3021, 25003 HELSINGBORG |
SWEDEN |
042-137850 |
|
Other Address |
|
|
Address |
Country |
|
No other addresses for this
company. |
|
|
Main Address |
||
|
Address |
Country |
Telephone |
|
Box 3021, 25003 HELSINGBORG |
SWEDEN |
042-137850 |
|
Other Address |
|
|
Address |
Country |
|
No other addresses for this
company. |
|
|
Current Directors |
|||
|
Name |
Appointment Date |
Position |
|
|
Wildi, Simon |
12/03/2004 |
Actual Member of Board |
|
|
King, James Cunningham |
08/11/2012 |
Actual Member of Board |
|
|
Anders
Johan Folke Bergqvist |
12/03/2004 |
Actual Member of Board |
|
|
Previous Directors |
|||
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Bendis, Todd Benjamin |
12/02/2011 |
Actual Member of Board |
08/11/2012 |
|
Kent Rickard Nilsson |
12/03/2004 |
Actual Member of Board |
26/10/2011 |
|
Bruns, Alphonsus Maria |
06/04/2010 |
Actual Member of Board |
12/02/2011 |
|
Böhme, Oliver |
12/03/2004 |
Actual Member of Board |
06/04/2010 |
|
Noor, Thomas |
12/03/2004 |
Actual Member of Board |
06/04/2010 |
Na
|
Issued Share Capital |
1.000.000 SEK |
|
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 |
1 |
|
Number of private claims |
1 |
|
Number of applications for an
order to pay |
- |
|
Number of reclaimed/revoked
applications |
- |
|
Latest Private Claim |
|
|
Date |
02/05/2011 |
|
Amount |
550 SEK |
|
Creditor |
Q-Park AB |
|
Comments |
Decision |
|
Ultimate Holding Parent |
|
|
|
Ultimate Holding Company Name |
Storsack Holding GmbH |
|
|
Ultimate Holding Company
Country |
GERMANY |
HRB 61214 |
|
Immediate Holding Parent |
|
|
|
Immediate Holding Company Name |
Storsack Holding GmbH |
|
|
Immediate Holding Company
Country |
GERMANY |
HRB 61214 |
|
Subsidary Companies |
||
|
Subsidiary Name |
Country |
Number |
|
No subsidaries for this
company. |
|
|
|
Affiliates |
||
|
Affiliate Name |
Country |
Number |
|
No affiliates for this company. |
|
|
|
Profit and Loss |
|||
|
Financial Year |
2011 |
2010 |
2009 |
|
Number of Weeks |
52 |
43 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Revenue |
64.340.000 |
38.503.000 |
33.581.000 |
|
Operating Costs |
61.419.000 |
36.514.000 |
32.255.000 |
|
Operating Profit |
2.921.000 |
1.989.000 |
1.326.000 |
|
Wages & Salaries |
-4.015.000 |
-2.472.000 |
-2.424.000 |
|
Depreciation |
-9.000 |
-7.000 |
-14.000 |
|
Financial Income |
83.000 |
- |
31.000 |
|
Financial Expenses |
-23.000 |
-27.000 |
-40.000 |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Costs |
- |
- |
- |
|
Profit before Tax |
2.981.000 |
1.962.000 |
1.316.000 |
|
Tax |
-608.000 |
-409.000 |
-270.000 |
|
Profit after Tax |
2.373.000 |
1.553.000 |
1.046.000 |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
-720.000 |
-446.000 |
-338.000 |
|
Retained Profit |
1.653.000 |
1.107.000 |
709.000 |
|
Balance Sheet |
|||
|
Financial Year |
2011 |
2010 |
2009 |
|
Number of Weeks |
52 |
43 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
12.000 |
20.000 |
28.000 |
|
Total Tangible Assets |
12.000 |
20.000 |
28.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
0 |
0 |
0 |
|
Total Intangible Assets |
0 |
0 |
0 |
|
Loans To Group |
0 |
0 |
0 |
|
Other Loans |
0 |
0 |
0 |
|
Miscellaneous Fixed Assets |
0 |
0 |
0 |
|
Total Other Fixed Assets |
0 |
0 |
0 |
|
TOTAL FIXED ASSETS |
12.000 |
20.000 |
28.000 |
|
Work In Progress |
0 |
0 |
0 |
|
Other Inventories |
3.472.000 |
2.681.000 |
1.993.000 |
|
Total Inventories |
3.472.000 |
2.681.000 |
1.993.000 |
|
Trade Receivables |
9.187.000 |
6.137.000 |
5.053.000 |
|
Group Receivables |
0 |
1.208.000 |
502.000 |
|
Miscellaneous Receivables |
218.000 |
370.000 |
372.000 |
|
Total Receivables |
9.405.000 |
7.715.000 |
5.927.000 |
|
Cash |
4.433.000 |
664.000 |
3.308.000 |
|
Other Current Assets |
0 |
0 |
0 |
|
TOTAL CURRENT ASSETS |
17.311.000 |
11.060.000 |
11.228.000 |
|
TOTAL ASSETS |
17.323.000 |
11.081.000 |
11.256.000 |
|
Trade Payables |
712.000 |
195.000 |
1.240.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Group Payables |
7.697.000 |
3.745.000 |
5.224.000 |
|
Miscellaneous Liabilities |
1.847.000 |
1.547.000 |
751.000 |
|
TOTAL CURRENT LIABILITIES |
10.256.000 |
5.487.000 |
7.215.000 |
|
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 |
2.854.000 |
2.134.000 |
1.689.000 |
|
TOTAL LONG TERM LIABILITIES |
4.397.000 |
2.134.000 |
1.689.000 |
|
TOTAL LIABILITIES |
14.654.000 |
7.622.000 |
8.904.000 |
|
Called Up Share Capital |
1.000.000 |
1.000.000 |
1.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
1.653.000 |
2.443.000 |
1.336.000 |
|
Other Reserves |
16.000 |
16.000 |
16.000 |
|
TOTAL SHAREHOLDERS EQUITY |
2.669.000 |
3.459.000 |
2.352.000 |
|
Other Financials |
|||
|
Contingent Liabilities |
0 |
0 |
0 |
|
Working Capital |
7.055.000 |
5.573.000 |
4.013.000 |
|
Net Worth |
2.669.000 |
3.459.000 |
2.352.000 |
|
Ratios |
|||
|
Pre-Tax Profit Margin |
4.63 % |
5.10 % |
3.92 % |
|
Return On Capital Employed |
10.81 % |
11.84 % |
7.12 % |
|
Return On Total Assets Employed |
17.21 % |
17.71 % |
11.69 % |
|
Return On Net Assets Employed |
111.69 % |
56.72 % |
55.95 % |
|
Sales/Net Working Capital |
9.12 |
6.91 |
8.37 |
|
Stock Turnover Ratio |
5.40 % |
6.96 % |
5.93 % |
|
Debtor Days |
52.12 |
58.18 |
54.92 |
|
Creditor Days |
4.04 |
1.85 |
|
Current Ratio |
1.69 |
2.02 |
|
Liquidity Ratio/Acid Test |
1.35 |
1.53 |
|
Current Debt Ratio |
3.84 |
1.59 |
|
Gearing |
57.81 % |
|
|
Equity In Percentage |
15.41 % |
31.22 % |
|
Total Debt Ratio |
5.49 |
2.20 |
Na
|
Activities |
|
|
Activity Code |
Activity Description |
|
46762 |
Wholesale of packaging materials |
|
Employee Information |
|
|
Year |
Number of Employees |
|
2011 |
4 |
|
2010 |
3 |
|
2009 |
3 |
|
2008 |
2 |
|
2007 |
2 |
|
Advisors |
|
|
Auditor Name |
BDO Sweden 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 |
46762 |
|
Activity Description |
Wholesale of packaging
materials |
|
Industry Average Credit Rating |
76 (1 - 100) |
|
Industry Average Credit Limit |
313.000 SEK |
|
Event History |
|
|
Event Date |
Event Description |
|
09/11/2012 |
Authorised signatory, changed |
|
09/11/2012 |
Company representatives,
changed |
|
24/08/2012 |
Annual account, changed |
|
24/07/2012 |
Limit, increase |
|
24/07/2012 |
Annual account, new |
|
07/07/2012 |
Limit, increase |
|
07/07/2012 |
Company representatives,
changed |
|
07/07/2012 |
Authorised signatory, changed |
|
07/07/2012 |
Board, changed |
|
02/07/2012 |
Annual report (PDF), new |
|
17/05/2012 |
Company business activity,
changed |
|
17/05/2012 |
Board, changed |
|
17/05/2012 |
Company representatives,
changed |
|
17/05/2012 |
Authorised signatory, changed |
|
10/01/2012 |
Company representatives,
changed |
|
10/01/2012 |
Board, changed |
|
27/10/2011 |
Board, changed |
|
27/10/2011 |
Limit, decrease |
|
27/10/2011 |
Company representatives,
changed |
|
27/10/2011 |
Authorised signatory, changed |
|
30/09/2011 |
Company representatives,
changed |
|
30/09/2011 |
Board, changed |
|
02/08/2011 |
Company name, changed (old
name: Storsack Nordic AB) |
|
05/07/2011 |
Annual account, new |
|
05/07/2011 |
Limit, increase |
|
15/06/2011 |
Annual report (PDF), new |
|
07/05/2011 |
Limit, increase |
|
16/04/2011 |
Limit, decrease |
|
29/03/2011 |
Phone number, changed |
|
15/02/2011 |
Company representatives,
changed |
|
15/02/2011 |
Authorised signatory, changed |
|
15/02/2011 |
Board, changed |
|
08/07/2010 |
Annual account, new |
|
08/07/2010 |
Limit, increase |
|
30/06/2010 |
Annual report (PDF), new |
|
07/04/2010 |
Board, changed |
|
07/04/2010 |
Authorised signatory, changed |
|
07/04/2010 |
Company representatives,
changed |
|
16/09/2009 |
Limit, increase |
|
09/08/2009 |
Limit, increase |
|
30/07/2009 |
Limit, decrease |
|
21/07/2009 |
Annual account, new |
|
21/07/2009 |
Limit, decrease |
|
14/07/2009 |
Annual report (PDF), new |
|
02/09/2008 |
Annual account, new |
|
13/08/2008 |
Annual report (PDF), new |
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.