MIRA INFORM REPORT

 

 

Report Date :

19.10.2013

 

IDENTIFICATION DETAILS

 

Name :

SAFESACK SCANDINAVIA AB

 

 

Registered Office :

Industrigatan 12 Örkelljunga, 28636

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

1999

 

 

Com. Reg. No.:

5565809927

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Subject is engaged in the merchant wholesale distribution of plastics materials and resins, and unsupported plastics film, sheet, sheeting, rod, tube, and other basic forms and shapes.

 

 

No. of Employees :

08

 

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 :

Small company

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)

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 the contraction continued 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 and address

 

 

SAFESACK SCANDINAVIA AB

 

 

 

Industrigatan 12

 

 

Örkelljunga, 28636

Sweden

 

 

Tel:

+46 435 549 33

Fax:

+46 435 529 99

 

 

 

Employees:

8

Company Type:

Private Subsidiary

Corporate Family:

2 Companies

Ultimate Parent:

Plastonor AB

 

 

Incorporation Date:

1999

 

 

Fiscal Year End:

31-Dec-2012

Reporting Currency:

Swedish Krona

Annual Sales:

15.3

Net Income:

1.3

Total Assets:

12.5

 

 

Business Description     

 

 

SafeSack Scandinavia AB is primarily engaged in the merchant wholesale distribution of plastics materials and resins, and unsupported plastics film, sheet, sheeting, rod, tube, and other basic forms and shapes.

 

Industry      

 

 

Industry

Chemical Wholesale

ANZSIC 2006:

3323 - Industrial and Agricultural Chemical Product Wholesaling

ISIC Rev 4:

4669 - Wholesale of waste and scrap and other products n.e.c.

NACE Rev 2:

4675 - Wholesale of chemical products

NAICS 2012:

424610 - Plastics Materials and Basic Forms and Shapes Merchant Wholesalers

UK SIC 2007:

4675 - Wholesale of chemical products

US SIC 1987:

5162 - Plastics Materials and Basic Forms and Shapes

 

 Key Executives  

      

 

Name

Title

Andreas Johannes Bertha

verkst dir, ledamot

 

Key IDSM Number: 51207093

 

Registered No.(SWE): 5565809927

 

1 - Profit & Loss Item Exchange Rate: USD 1 = SEK 6.775133

2 - Balance Sheet Item Exchange Rate: USD 1 = SEK 6.5125

 

 

Corporate Overview

 

Location
Industrigatan 12
Örkelljunga, 28636
Sweden

 

Tel:

+46 435 549 33

Fax:

+46 435 529 99

 

www.safesack.com

Sales SEK(mil):

103.8

Assets SEK(mil):

81.2

Employees:

8

Fiscal Year End:

31-Dec-2012

 

Industry:

Fabricated Plastic and Rubber

Incorporation Date:

1999

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(SWE):

5565809927

 

verkst dir, ledamot:

Andreas Johannes Bertha

 

Industry Codes

 

ANZSIC 2006 Codes:

3323

-

Industrial and Agricultural Chemical Product Wholesaling

1522

-

Paper Bag Manufacturing

152

-

Converted Paper Product Manufacturing

 

ISIC Rev 4 Codes:

4669

-

Wholesale of waste and scrap and other products n.e.c.

1701

-

Manufacture of pulp, paper and paperboard

2220

-

Manufacture of plastics products

466

-

Other specialized wholesale

222

-

Manufacture of plastics products

 

NACE Rev 2 Codes:

4675

-

Wholesale of chemical products

222

-

Manufacture of plastics products

2222

-

Manufacture of plastic packing goods

1712

-

Manufacture of paper and paperboard

467

-

Other specialised wholesale

 

NAICS 2012 Codes:

424610

-

Plastics Materials and Basic Forms and Shapes Merchant Wholesalers

322220

-

Paper Bag and Coated and Treated Paper Manufacturing

42461

-

Plastics Materials and Basic Forms and Shapes Merchant Wholesalers

4246

-

Chemical and Allied Products Merchant Wholesalers

326111

-

Plastics Bag and Pouch Manufacturing

32611

-

Plastics Packaging Materials and Unlaminated Film and Sheet Manufacturing

 

US SIC 1987:

5162

-

Plastics Materials and Basic Forms and Shapes

2673

-

Plastics, Foil, and Coated Paper Bags

516

-

Chemicals and Allied Products

267

-

Converted Paper and Paperboard Products

2672

-

Coated and Laminated Paper, Not Elsewhere Classified

 

UK SIC 2007:

4675

-

Wholesale of chemical products

222

-

Manufacture of plastics products

2222

-

Manufacture of plastic packing goods

1712

-

Manufacture of paper and paperboard

467

-

Other specialised wholesale

 

Business Description

SafeSack Scandinavia AB is primarily engaged in the merchant wholesale distribution of plastics materials and resins, and unsupported plastics film, sheet, sheeting, rod, tube, and other basic forms and shapes.

 

 

 

 

 

 

Financial Data

Financials in:

SEK(mil)

 

Revenue:

103.8

Net Income:

9.1

Assets:

81.2

Total Liabilities:

10.5

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

NA

NA

NA

 

Key Corporate Relationships

Bank:

SEB

 

 

 

 

 

 

 

 

 

Corporate Family

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Plastonor AB

Parent

 

 

 

 

 

SafeSack Scandinavia AB

Subsidiary

Örkelljunga, Skåne

Sweden

Chemical Wholesale

15.3

8

 

 

Executives Report

 



 

 

 

 

Board of Directors

 

Name

Title

Function

Andreas Johannes Bertha

 

verkst dir, ledamot

Director/Board Member

 

Executives

 

Name

Title

Function

Andreas Johannes Bertha

 

verkst dir, ledamot

Managing Director

 

 

 

 Annual Profit & Loss

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

Period Length

12 Months

12 Months

12 Months

Filed Currency

SEK

SEK

SEK

Exchange Rate (Period Average)

6.775133

6.493691

7.206564

Consolidated

No

No

No

 

 

 

 

Total Revenue

15.3

18.5

12.9

Gross Profit

2.1

2.7

1.5

Net Financial Items

0.1

0.1

0.1

Operating Income

2.1

2.7

1.5

Income Before Tax

1.8

2.3

1.3

Net Income

1.3

1.7

0.9

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

Filed Currency

SEK

SEK

SEK

Exchange Rate

6.5125

6.8553

6.72285

Consolidated

No

No

No

 

 

 

 

Total Assets

12.5

12.6

11.3

Provisions

3.5

3.0

2.5

Total Liabilities

1.6

1.8

2.2

Total Equity

7.3

7.8

6.5

 

 

Annual Ratios

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

Period Length

12 Months

12 Months

12 Months

Filed Currency

-

-

-

Exchange Rate

-

-

-

Consolidated

No

No

No

 

 

 

 

Operating Margin

14.30

15.11

12.10

Current Ratio

769.52

707.04

499.90

Total debt/total equity

79.23

79.35

73.89

Return on average equity

23.07

26.56

19.97

 

 

 

Annual Growth Rates

 

 

 

 

31-Dec-2011

31-Dec-2010

Period Length

12 Months

12 Months

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Turnover Percent Change

-13.82%

29.67%

Marginal Contribution Percent Change

-18.95%

58.98%

Net Financial Items Percent Change

-5.99%

99.13%

Operating Results Percent Change

-19.08%

60.36%

Profit/Loss Before Tax Percent Change

-16.41%

59.75%

Profit/Loss for the Year Percent Change

-16.30%

60.67%

Assets Percent Change

-5.95%

13.41%

Provisions Percent Change

11.91%

19.59%

Debts Percent Change

-13.60%

-19.79%

Equity Capital Percent Change

-11.01%

22.41%

Operating Margin Percent Change

-5.36%

24.88%

Current Ratio Percent Change

8.84%

41.44%

Debt/Equity Ratio Percent Change

-0.15%

7.39%

Retun On Equity Percent Change

-13.14%

33.00%

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.28

UK Pound

1

Rs.99.03

Euro

1

Rs.83.80

 

 

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%)

 

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.