MIRA INFORM REPORT

 

 

Report Date :

02.10.2013

 

IDENTIFICATION DETAILS

 

Name :

TOKMANNI OY

 

 

Registered Office :

Isolammintie 1, Măntsala, 04600

 

 

Country :

Finland

 

 

Financials (as on) :

01.12.2012

 

 

Date of Incorporation :

11.12.2004

 

 

Com. Reg. No.:

19284269

 

 

Legal Form :

Private Parent Company

 

 

Line of Business :

Retailer of clothing

 

 

No. of Employees :

2,851

 

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 :

Slow but Correct  

 

 

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

 

Risk Category

ECGC Classification

 

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

 

Company name & address

 

Tokmanni Oy

Isolammintie 1

Măntsala, 04600

Finland

 

Tel:       358 (207) 782 000

Fax:      358 (207) 784 403

Web:    www.tokmanni.com

           

 

Synthesis

 

Employees:                 2,851

Company Type:            Private Parent

Corporate Family:          2 Companies

Incorporation Date:        11-Dec-2004    

Financials in:                 USD (Millions)

Fiscal Year End:            01-Dec-2012

Reporting Currency:       Euro

Annual Sales:               876.4

Net Income:                 (8.7)

Total Assets:                306.0

 

 

Business Description     

 

Retail of clothing

 

Industry            

Industry           Clothing and Apparel Stores

ANZSIC 2006:   4251 - Clothing Retailing

ISIC Rev 4:        4771 - Retail sale of clothing, footwear and leather articles in specialized stores

NACE Rev 2:     4771 - Retail sale of clothing in specialised stores

NAICS 2012:     448120 - Women's Clothing Stores

UK SIC 2007:    4771 - Retail sale of clothing in specialised stores

US SIC 1987:    5621 - Women's Clothing Stores

 

           

Key Executives   

 

Name

Title

Heikki Juhani Văănănen

Chairman, Managing director

Timo Koskelin

Marketing Manager

Seppo Saastamoinen

Purchasing Manager

Pasi Karhapää

IT Manager

Saara Korpelainen

Human Resources Manager

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7779654

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.772118

 

 

Corporate Overview

 

Location

Isolammintie 1

Măntsala, 04600

Finland

Tel:       358 (207) 782 000

Fax:      358 (207) 784 403

Web:    www.tokmanni.com

           

Sales EUR(mil):             681.8

Assets EUR(mil):           236.3

Employees:                  2,851

Fiscal Year End:            01-Dec-2012

Industry:                       Retail (Apparel)

Incorporation Date:        11-Dec-2004

Company Type:             Private Parent

Quoted Status:              Not Quoted

Registered No.(FIN):      19284269

 

Chairman, Managing director: 

Heikki Juhani Văănănen

 

Industry Codes

ANZSIC 2006 Codes:

4251     -          Clothing Retailing

 

ISIC Rev 4 Codes:

4771     -          Retail sale of clothing, footwear and leather articles in specialized stores

 

NACE Rev 2 Codes:

4771     -          Retail sale of clothing in specialised stores

 

NAICS 2012 Codes:

448120  -          Women's Clothing Stores

448110  -          Men's Clothing Stores

 

US SIC 1987:

5621     -          Women's Clothing Stores

5611     -          Men's and Boys' Clothing and Accessory Stores

 

UK SIC 2007:

4771     -          Retail sale of clothing in specialised stores

Business Description

Retail of clothing

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

681.8

Net Income:

-6.8

Assets:

236.3

Current Assets:

178.3

 

Issued Capital:

0.0

 

Net Worth:

4.2

 

 

 

Date of Financial Data:

01-Dec-2012

 

1 Year Growth

NA

NA

NA

Subsidiaries

Company

Percentage Owned

Country

Tarjousmaxi Oy

 

Finland

Työmanni Oy

 

Finland

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Tokmanni Oy

Tokmanni Oy 
Total Corporate Family Members: 2 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Tokmanni Oy

Parent

Mäntsälä

Finland

Clothing and Apparel Stores

876.4

2,851

 

Tarjousmaxi Oy

Subsidiary

Mäntsälä

Finland

Grocery Stores

19.5

57

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Heikki Juhani Văănănen

 

Chairman, Managing director

Chairman

 

Sixten Henrik Hjort

 

Board member

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Heikki Juhani Väänänen

 

Chairman, Managing director

Managing Director

 

Saara Korpelainen

 

Human Resources Manager

Human Resources Executive

 

Timo Koskelin

 

Marketing Manager

Marketing Executive

 

Pasi Karhapää

 

IT Manager

Engineering/Technical Executive

 

Seppo Saastamoinen

 

Purchasing Manager

Purchasing Executive

 





Annual Profit & Loss

 

 

 

01-Dec-2012

01-Dec-2011

Period Length

12 Months

12 Months

Filed Currency

EUR

EUR

Exchange Rate (Period Average)

0.777965

0.718922

Consolidated

No

No

 

 

 

Total income

876.4

897.9

Cost of goods sold

568.7

604.4

Other operating costs

91.6

92.4

Total operating costs

812.8

851.3

Interest received from loans

0.2

0.1

Interest payable on loans

27.1

19.4

Profit before tax

-7.6

1.3

Total taxation

1.1

3.9

Income before depreciation

40.6

44.6

Depreciation

21.2

23.7

Profit before financial items

19.4

20.9

Income/profit after financial items

-7.4

1.5

Extraordinary items

1.0

1.9

Income before allocations

-7.6

1.3

Net income

-8.7

-2.6

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

01-Dec-2012

01-Dec-2011

Filed Currency

EUR

EUR

Exchange Rate

0.772118

0.74239

Consolidated

No

No

 

 

 

Issued capital

0.0

0.0

Untaxed/reserves allocations

5.5

5.8

Non restricted equity

-14.1

-5.5

Total stockholders equity

5.4

14.8

Total long-term liabilities

178.5

139.3

Trade creditors

37.3

54.0

Other current liabilities

59.4

111.9

Total current liabilities

275.2

305.2

Land and buildings

3.6

4.1

Machinery and tools

0.2

0.1

Depreciable assets

64.7

88.7

Total non-current assets

75.1

99.6

Stocks

182.1

201.2

Trade debtors

2.0

2.0

Cash and liquid assets

44.5

46.9

Short-term investments

10.5

10.9

Shares in associated companies

10.5

10.9

Other current assets

2.2

2.4

Total current assets

230.9

252.5

Total assets

306.0

352.1

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

01-Dec-2012

01-Dec-2011

Period Length

12 Months

12 Months

Filed Currency

EUR

EUR

Exchange Rate

0.772118

0.74239

Consolidated

No

No

 

 

 

Current ratio

2.40

1.50

Quick ratio

0.50

0.30

Asset turnover

0.03%

0.02%

Profit margin

-0.01%

0.00%

Equity ratio

0.10%

0.13%

Interest on liabilities

0.03%

-

Risk margin

237.49%

347.73%

Interest cover

0.00%

0.00%

Net worth

5.4

14.8

Number of employees

2,851

2,784

 

 

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 :

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.