|
Report Date : |
03.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
FORTEX INTERNATIONAL AB |
|
|
|
|
Registered Office : |
Box 135, 42923 Kullavik |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
15.02.2010 |
|
|
|
|
Com. Reg. No.: |
5568007883 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
trading with paper and related business. |
|
|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
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, 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 |
|
Business Name |
Fortex International
AB |
|
Country |
SWEDEN |
|
Company Registration Number |
5568007883 |
|
Main Activity |
Wholesale of other intermediate |
|
Activity Code |
46769 |
|
Company Status |
Active |
|
Latest Turnover Figure |
1.191.489.000 SEK |
|
Latest Shareholder Equity Figure |
45.559.000 SEK |
Basic Information
|
|
|
Business Name |
Fortex International AB |
|
Registered Company Name |
Fortex International AB |
|
Company Registration Number |
5568007883 |
|
Country |
SWEDEN |
|
VAT Registration Number |
SE556800788301 |
|
Date of Company Registration |
15/02/2010 |
|
Legal Form |
Limited liability company |
|
Company Status |
Active |
|
Currency of this Report |
SEK |
|
Principal Activity Description |
Föremålet för bolagets verksamhet är att
bedriva handel med papper och därmed förenlig verksamhet. (Object of the company is to trade with
paper and related business) |
|
Contact Address |
Box 135, 42923 KULLAVIK |
|
Contact Telephone Number |
031-933159 |
Activities
|
|
|
Activity Code |
Activity Description |
|
46769 |
Wholesale of other intermediate products
n.e.c. |
Profit
and Loss
|
|||
|
Financial Year |
2012 |
2011 |
2010 |
|
Number of Weeks |
52 |
52 |
48 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Revenue |
1.192.809.000 |
1.230.896.000 |
574.111.000 |
|
Operating Costs |
1.139.662.000 |
1.181.905.000 |
549.650.000 |
|
Operating Profit |
53.147.000 |
48.991.000 |
24.461.000 |
|
Wages & Salaries |
-10.436.000 |
-8.168.000 |
-3.020.000 |
|
Depreciation |
-277.000 |
-123.000 |
-58.000 |
|
Financial Income |
8.766.000 |
941.000 |
2.980.000 |
|
Financial Expenses |
-7.406.000 |
-4.407.000 |
-1.575.000 |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Costs |
- |
- |
- |
|
Profit before Tax |
54.508.000 |
45.525.000 |
25.867.000 |
|
Tax |
-10.825.000 |
-9.017.000 |
-6.811.000 |
|
Profit after Tax |
43.683.000 |
36.508.000 |
19.056.000 |
|
Minority Interests |
- |
- |
- |
|
Other Appropriations |
-13.761.000 |
-11.462.000 |
- |
|
Retained Profit |
29.922.000 |
25.046.000 |
19.056.000 |
Balance Sheet
|
|||
|
Financial Year |
2012 |
2011 |
2010 |
|
Number of Weeks |
52 |
52 |
48 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated Accounts |
N |
N |
N |
|
Land & Buildings |
0 |
0 |
0 |
|
Plant & Machinery |
0 |
0 |
0 |
|
Other Tangible Assets |
1.181.000 |
619.000 |
337.000 |
|
Total Tangible Assets |
1.181.000 |
619.000 |
337.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other Intangible Assets |
164.000 |
209.000 |
0 |
|
Total Intangible Assets |
164.000 |
209.000 |
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 |
1.345.000 |
828.000 |
337.000 |
|
Work In Progress |
0 |
0 |
0 |
|
Other Inventories |
73.816.000 |
21.868.000 |
12.976.000 |
|
Total Inventories |
73.816.000 |
21.868.000 |
12.976.000 |
|
Trade Receivables |
354.615.000 |
403.371.000 |
322.211.000 |
|
Group Receivables |
0 |
0 |
0 |
|
Miscellaneous Receivables |
12.442.000 |
2.835.000 |
3.182.000 |
|
Total Receivables |
367.057.000 |
406.206.000 |
325.393.000 |
|
Cash |
32.705.000 |
45.000 |
2.349.000 |
|
Other Current Assets |
0 |
0 |
0 |
|
TOTAL CURRENT ASSETS |
473.578.000 |
428.119.000 |
340.718.000 |
|
TOTAL ASSETS |
474.923.000 |
428.946.000 |
341.055.000 |
|
Trade Payables |
79.085.000 |
43.854.000 |
58.610.000 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Group Payables |
0 |
1.986.000 |
0 |
|
Miscellaneous Liabilities |
16.246.000 |
14.817.000 |
8.343.000 |
|
TOTAL CURRENT LIABILITIES |
95.331.000 |
60.657.000 |
66.953.000 |
|
Bank Liabilities Due After 1 Year |
213.610.000 |
0 |
117.854.000 |
|
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 |
120.423.000 |
11.462.000 |
0 |
|
TOTAL LONG TERM LIABILITIES |
334.033.000 |
323.315.000 |
254.046.000 |
|
TOTAL LIABILITIES |
429.364.000 |
383.971.000 |
320.999.000 |
|
Called Up Share Capital |
1.000.000 |
1.000.000 |
1.000.000 |
|
Share Premium |
0 |
0 |
0 |
|
Revenue Reserves |
44.059.000 |
43.975.000 |
19.056.000 |
|
Other Reserves |
500.000 |
0 |
0 |
|
TOTAL SHAREHOLDERS EQUITY |
45.559.000 |
44.975.000 |
20.056.000 |
Other Financials
|
|||
|
Contingent Liabilities |
0 |
0 |
0 |
|
Working Capital |
378.247.000 |
367.462.000 |
273.765.000 |
|
Net Worth |
45.395.000 |
44.766.000 |
20.056.000 |
Ratios
|
|||
|
Pre-Tax Profit Margin |
4.57 % |
3.70 % |
4.51 % |
|
Return On Capital Employed |
9.56 % |
9.30 % |
6.34 % |
|
Return On Total Assets Employed |
11.48 % |
10.61 % |
7.58 % |
|
Return On Net Assets Employed |
119.64 % |
101.22 % |
128.97 % |
|
Sales/Net Working Capital |
3.15 |
3.35 |
2.10 |
|
Stock Turnover Ratio |
6.19 % |
1.78 % |
2.26 % |
|
Debtor Days |
108.51 |
119.61 |
204.85 |
|
Creditor Days |
24.20 |
13.00 |
37.26 |
|
Current Ratio |
4.97 |
7.06 |
5.09 |
|
Liquidity Ratio/Acid Test |
4.19 |
6.70 |
4.90 |
|
Current Debt Ratio |
2.09 |
1.35 |
3.34 |
|
Gearing |
677.82 % |
693.39 % |
1266.68 % |
|
Equity In Percentage |
9.60 % |
10.49 % |
5.88 % |
|
Total Debt Ratio |
9.42 |
8.54 |
16.01 |
|
Main Address |
||
|
Address |
Country |
Telephone |
|
Box 135, 42923 KULLAVIK |
SWEDEN |
031-933159 |
|
Other Address |
|
|
Address |
Country |
|
No other addresses for this company. |
|
|
Email Addresses |
|
No information for this company. |
|
Web Pages |
|
No information for this company. |
|
Issued Share Capital |
1.500.000 SEK |
Current Directors
|
|||
|
Name |
Appointment Date |
Position |
|
|
Jörgen Ohlander |
15/02/2010 |
Actual Member of Board |
|
|
Knut Bertil Fritzell |
27/05/2010 |
Actual Member of Board |
|
|
Hans Cristian Trulsson |
27/05/2010 |
Actual Member of Board |
|
|
Pär Marcus Westerlind |
27/05/2010 |
Actual Member of Board |
|
Previous Directors
|
|||
|
Name |
Appointment Date |
Position |
Resignation Date |
|
Knut Bertil Fritzell |
15/02/2010 |
Substitute |
27/05/2010 |
Ultimate Holding Parent
|
|
|
|
Ultimate Holding Company Name |
FSA FORTEX Aktiebolag |
|
|
Ultimate Holding Company Country |
SWEDEN |
5563885705 |
|
Immediate Holding Company Name |
FSA FORTEX Aktiebolag |
|
|
Immediate Holding Company Country |
SWEDEN |
5563885705 |
Subsidiary Companies
|
||
|
Subsidiary Name |
Country |
Number |
|
No subsidiaries for this company. |
|
|
Affiliates
|
||
|
Affiliate Name |
Country |
Number |
|
No affiliates for this company. |
|
|
Employee Information
|
|
|
Year |
Number of Employees |
|
2012 |
12 |
|
2011 |
9 |
|
2010 |
7 |
|
Advisors |
|
|
Auditor Name |
Anders Gunnar Blohmé |
|
Tax Registrations |
|
|
Registered for Tax |
Yes |
|
Registered for VAT |
Yes |
|
Registered for Employee Tax |
Yes |
|
Certificates |
||
|
Type |
Category |
Issuer |
|
No certificate information for this
company. |
|
|
|
Industry Comparison |
|
|
Activity Code |
46769 |
|
Activity Description |
Wholesale of other intermediate products
n.e.c. |
Event History
|
|
|
Event Date |
Event Description |
|
05/06/2013 |
Annual account, new |
|
30/05/2013 |
Annual report (PDF), new |
|
14/11/2012 |
Share capital, new issue |
|
20/09/2012 |
Company representatives, changed |
|
20/09/2012 |
Authorised signatory, changed |
|
20/04/2012 |
Annual account, new |
|
04/04/2012 |
Annual report (PDF), new |
|
29/11/2011 |
Board, changed |
|
29/11/2011 |
Authorised signatory, changed |
|
29/11/2011 |
Company representatives, changed |
|
08/07/2011 |
Annual account, new |
|
24/06/2011 |
Annual report (PDF), new |
|
02/05/2011 |
Annual account, new |
|
02/05/2011 |
Limit, increase |
|
20/04/2011 |
Annual report (PDF), new |
|
14/09/2010 |
Authorised signatory, changed |
|
14/09/2010 |
Company representatives, changed |
|
14/09/2010 |
Board, changed |
|
03/09/2010 |
Employment tax, changed |
|
05/06/2010 |
VAT, changed |
|
05/06/2010 |
Company tax, changed |
|
28/05/2010 |
Company representatives, changed |
|
28/05/2010 |
Authorised signatory, changed |
|
28/05/2010 |
Board, changed |
|
16/02/2010 |
Authorised signatory, changed |
|
16/02/2010 |
Company business activity, changed |
|
16/02/2010 |
Board, changed |
|
16/02/2010 |
Company representatives, changed |
|
Status History |
|
|
Date |
Event Description |
|
No company status history for this company |
|
|
Record of non-payment |
|
|
Number of distraint attempts and repossessions |
- |
|
Number of public claims |
- |
|
Number of private claims |
- |
|
Number of applications for an order to pay |
- |
|
Number of reclaimed/revoked applications |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
UK Pound |
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.