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Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
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Name : |
WILHELMSEN TECHNICAL SOLUTIONS SP. Z O.O. |
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Registered Office : |
Stobno 74, Stobno, Zachodniopomorskie- 002 |
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Country : |
Poland |
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Financials (as on) : |
2011 |
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Date of Incorporation : |
01.01.1995 |
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Com. Reg. No.: |
149332 |
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Legal Form : |
Private Company |
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Line of Business : |
Subject offers environmental, safety, HVAC-R and power solutions for newbuilds, retrofits and offshore |
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No. of Employees : |
60 (2009) |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow & Delayed |
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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) |
|
Poland |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Poland ECONOMIC OVERVIEW
Poland has
pursued a policy of economic liberalization since 1990 and Poland's economy was
the only one in the European Union to avoid a recession through the 2008-09
economic downturn. Although EU membership and access to EU structural funds
have provided a major boost to the economy since 2004, GDP per capita remains
significantly below the EU average while unemployment continues to exceed the
EU average. The government of Prime Minister Donald TUSK steered the Polish
economy through the economic downturn by skillfully managing public finances
without stifling economic growth and adopted controversial pension and tax
reforms to further shore up public finances. While the Polish economy has
performed well over the past five years, growth slowed in 2012, in part due to
the ongoing economic difficulties in the euro zone. The key policy challenge is
to provide support to the economy through monetary easing, while maintaining
the pace of structural fiscal consolidation. Poland's economic performance
could improve over the longer term if the country addresses some of the
remaining deficiencies in its road and rail infrastructure and its business
environment. An inefficient commercial court system, a rigid labor code, red
tape, and a burdensome tax system keep the private sector from realizing its
full potential.
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Source : CIA |
Company Name Wilhelmsen
Technical Solutions Sp. z o.o.
Company Registration Number 149332
Country PL
Activity Code 4618Z
Activity Description Subject offers environmental, safety, HVAC-R
and power solutions for
newbuilds, retrofits and offshore
Company Status Active
Latest Turnover 70,214,000.00
(PLN)
Latest Shareholders Equity -3,607,000.00
(PLN)
Profit Before Tax 5,825,000.00 (PLN)
Activities
Activity Code 4618Z
Activity Description Subject offers environmental, safety, HVAC-R
and power solutions for newbuilds,
retrofits and offshore
Company Name Wilhelmsen
Technical Solutions Sp. Z o.o.
Registered Company Name WILHELMSEN
TECHNICAL SOLUTIONS SPÓŁKA Z OGRANICZONĄ
ODPOWIEDZIALNOŚCIĄ
Company Registration Number 149332
Country PL
VAT Registration Number 5851004348
Date of Company Registration 01/01/1995
Date of Starting Operations 01/01/1995
Company Status Active
Principal Activity Code 5118
Principal Activity Description Subject offers environmental, safety, HVAC-R and power solutions for
newbuilds,
retrofits and offshore
Contact Address Stobno 74, Stobno,
Zachodniopomorskie- 002
Contact Telephone Number 4891 46489007
Address Stobno 74, Stobno, Zachodniopomorskie-00722
Telephone 4891 4648900
Email Addresses
Web Addresses
Name Peter Stockley
Position Director
Issued Share capital 12,000,000.00
(PLN)
Name WILHELMSEN
TECHNICAL SOLUTIONS AS
Share Percent 100.00 %
Year 2009
Number of Employees 60
Year 2008
Number of Employees 68
Year 2005
Number of Employees 52
Profit & Loss
Financial Year 2011 2010 2009
Number of Weeks 52 52 52
Currency PLN PLN PLN
Revenue 71,381,000.00 78,405,000.00 113,261,000.00
Operating Costs 75,478,000.00 94,847,000.00 113,178,000.00
Operating Profit -4,098,000.00 -16,441,000.00 83,000.00
Depreciation 351,000.00 446,000.00 546,000.00
Financial Income 20,000.00 10,000.00
28,000.00
Financial Expenses 1,747,000.00 1,453,000.00 2,887,000.00
Extraordinary Income 0.00 0.00 0.00
Extraordinary Costs 0.00 0.00 0.00
Profit Before Tax -5,825,000.00 -17,884,000.00 -2,776,000.00
Tax -1,262,000.00 81,000.00
-504,000.00
Profit After Tax -4,563,000.00 -17,965,000.00 -2,272,000.00
Retained Profit -4,563,000.00 -17,965,000.00 -2,272,000.00
Balance Sheet
Financial Year 2011 2010 2009
Number of Weeks 52 52 52
Currency PLN PLN PLN
Land & Buildings
213,000.00 276,000.00 340,000.00
Plant & Machinery
89,000.00 100,000.00 148,000.00
Other Tangible Assets 335,000.00 525,000.00 531,000.00
Total Tangible Assets 637,000.00 901,000.00 1,019,000.00
Other Intangible Assets 11,000.00 29,000.00
35,000.00
Total Intangible Assets 11,000.00 29,000.00
35,000.00
Miscellaneous
Fixed Assets 2,312,000.00 1,051,000.00 998,000.00
Total Other Fixed Assets 2,312,000.00 1,051,000.00 998,000.00
Total Fixed Assets 2,960,000.00 1,980,000.00 2,052,000.00
Other Inventories 10,251,000.00 13,067,000.00 28,549,000.00
Total Inventories 10,251,000.00 13,067,000.00 28,549,000.00
Trade Receivables 9,812,000.00 6,273,000.00 10,535,000.00
Total Receivables 9,812,000.00 6,273,000.00 10,535,000.00
Cash 627,000.00 204,000.00 186,000.00
Other Current Assets 2,236,000.00 3,404,000.00 2,145,000.00
Total Current Assets 22,925,000.00 22,947,000.00 41,414,000.00
Total Assets 25,886,000.00 24,927,000.00 43,466,000.00
Trade Payables 14,171,000.00 10,303,000.00 18,852,000.00
Bank Liabilities 0.00 0.00 0.00
Miscellaneous Liabilities 8,118,000.00 8,394,000.00 7,488,000.00
Total Current Liabilities 22,289,000.00 18,697,000.00 26,340,000.00
Other Loans/Finance
due after 1 year 0.00 0.00 0.00
Miscellaneous Liabilities
due after 1 year 7,203,000.00 7,274,000.00 7,205,000.00
Total Long Term Liabilities 7,203,000.00 7,274,000.00 7,205,000.00
Total Liabilities 29,492,000.00 25,971,000.00 33,545,000.00
Called Up Share Capital 12,000,000.00 12,000,000.00 5,000,000.00
Revenue Reserves -15,607,000.00 -13,044,000.00 4,921,000.00
Total Shareholders
Equity -3,607,000.00 -1,044,000.00 9,921,000.00
Other Financials
Working Capital 636,000.00 4,250,000.00 15,074,000.00
Net Worth -3,618,000.00 -1,073,000.00 9,886,000.00
Ratios
Pre-Tax Profit Margin -8.30 -22.97 -2.47
Return on Capital Employed -161.99 -287.06 -16.21
Return on Total Assets
Employed -22.50 -71.75 -6.39
Return on Net Assets
Employed 161.49 1,713.03
-27.98
Sales/Net Working Capital 110.40 18.32
7.45
Stock Turnover Ratio 14.60 16.78
25.41
Debtor Days 51.01 29.40
34.23
Creditor Days 73.67 48.29
61.25
Current Ratio 1.03 1.23 1.57
Liquidity Ratio/Acid Test 0.57 0.53 0.49
Current Debt Ratio -6.18 -17.91 2.65
Gearing -199.70 -696.74 72.62
Equity in Percentage -15.31 -4.38 23.38
Total Debt Ratio -8.18 -24.88 3.38
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
|
UK Pound |
1 |
Rs.99.06 |
|
Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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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.